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Global Corneal Transplant Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ 625 Mn by 2028, Likely to Grow with the CAGR of 6.70% During the Forecast Period.
The global geriatric population is plunging who are vulnerable to eye diseases shall propel the growth of corneal transplant. Advanced technologies along with increased occurrence of eye diseases globally shall substantially propel the demand further increasing corneal transplants. Existence of companies such as the Eye Bank Association of America (EBAA) and The Global Alliance of Eye Bank Associations encouraging policies and awareness for efficient corneal transplantation shall positively support business growth. Moreover, increasing awareness in the context of eye disease treatments shall favour the corneal implants growth during the forecast period. Benefits associated are minimally invasive treatments along with increasing awareness in the context of corneal transplants offer good aesthetic is plunging its market growth. The benefits include clarity of vision from the first day of surgery, increased visual recovery and decreased challenge of rejection. These advantages enable the patient to prefer corneal transplants thereby, boosts its business growth. Challenges associated with corneal transplantation and limited donor materials globally would hamper the corneal transplants market growth during the forecast period.
Rising healthcare Industry in Developing Countries to Drive the Demand for Corneal Transplant
The healthcare industry has a substantial growth potential by an increase in the challenges related to health among most of the individuals globally. The governments are also supporting the healthcare industry by imposing favourable schemes and regulations that is boosting the performance of the healthcare industry globally. Moreover, the corneal transplant is also one of the most happening transplant procedures in the global market by an increase in the geriatric population.
Human donor Segment Held a Prominent Share in Global Corneal Transplant Market in 2019
The corneal transplant is dominated by human donor segment estimated for greater than US$ 300 Mn in 2019 and is expected to exhibit considerable growth during the forecast period. Increased awareness of eye tissue donation and corneal transplantation, mainly in developed nations shall contribute to its market growth. The government policies for reimbursement of donor tissue are applied in the surgical procedures of corneal transplants substantiates its segmental growth. Moreover, the advent of the artificial cornea is anticipated to witness lucrative expansion at XX % CAGR by 2028. The superior quality corneal implants are available in the global market to overcome incompatibility challenge in contrast to human donor cornea would foster its business growth. Increased demand for artificial cornea by patients who have a good rejection rate for human cornea tissue transplants would further foster its market growth globally.
North America Is Expected To Dominate The Corneal Transplant Market During The Forecast Period
The market demand for a corneal transplant is dominant in North America accounted for greater than 60% of the revenue share in 2019 and would exhibit a favorable trend during the forecast period. Its regional growth could be attributed to the increasing prevalence of diabetes in this region supporting in risk associated in the developing eye disorders. The presence of technologically advanced healthcare infrastructure would positively impact regional market growth. A strong foothold of key companies in this market and eye banks in the North American region shall enhance the corneal implants market growth.
Global Corneal Transplant market is consolidated with key players holding a major share of global Corneal Transplant market. The companies are focused on these offerings to expanding their market presence by market diversification strategies.
Key players operating in the global Corneal Transplant market are Alabama Eye Bank, Alcon, Florida Lions Eye Bank, Presbia, San Diego Eye Bank, CorNeat Vision, Aurolab, DIPOTEX, AJL Ophthalmic SA (Intacs), KeraMed and Massachusetts Eye and Ear.
Global Corneal Transplant Market Key Segments
Global Corneal Transplant Market, By Tissue Type
Global Corneal Transplant Market, By Transplant
- Penetrating keratoplasty (PK)
- Anterior lamellar keratoplasty (ALK)
Global Corneal Transplant Market, By Region
- North America
- Asia Pacific
- Middle East and Africa
- Latin America