Ocular Implant Market to Surpass US$ 20.2 Billion by 2026 - Coherent Market Insights

Published On : Jun 12, 2019

The global ocular implant market, by Implant Type (Intraocular Lenses (IOL) (Aspheric IOLs, Toric IOLs, Multifocal IOLs, Anterior chamber IOLs, and others), Corneal Implants, Glaucoma Implants, Orbital Implants, Ocular prosthesis, and others), by Application (Glaucoma Surgery, Oculoplasty, Drug Delivery, Age-Related Macular Degeneration (AMD), Aesthetic purpose, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 11,697.9 million in 2018, and is projected to exhibit a CAGR of 7.1%, during the forecast period (2018 - 2026), as highlighted in a new report published by Coherent Market Insights.

Increasing number of research and development activities to develop innovative ocular implant   is contributing to growth of global ocular implant market. For instance, in July 2018, Genentech, Inc. announced positive results for Phase II clinical trial study conducted to evaluate the safety and efficacy of the investigational Port Delivery System (PDS) with Ranibizumab, the first-ever eye implant to achieve sustained delivery of a biologic medicine, in people with wet age-related macular degeneration (AMD)

Browse 23 Market Data Tables and 19 Figures spread through 157 Pages and in-depth TOC on "Ocular Implant Market, by Implant Type (Intraocular Lenses (IOL) (Aspheric IOLs, Toric IOLs, Multifocal IOLs, Anterior chamber IOLs, and others), Corneal Implants, Glaucoma Implants, Orbital Implants, Ocular prosthesis, and others), by Application (Glaucoma Surgery, Oculoplasty, Drug Delivery, Age-Related Macular Degeneration (AMD), Aesthetic purpose, and others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),  - Global Forecast to 2026"

To know the latest trends and insights related to Global Ocular Implant Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/ocular-implant-market-2699

Development of innovative ocular implants and rising approvals from regulatory authorities for ocular implants and prosthetics is expected to drive growth of global ocular implant market. For instance, in July 2016, Abbott received U.S. Food and Drug Administration (FDA) approval for its Tecnis Symfony Intraocular Lenses, indicated for the treatment of cataracts. This FDA approval includes a version of the lens for people with astigmatism, the Tecnis Symfony Toric IOL.

Moreover, in March 2019, Implandata Ophthalmic Products GmbH (Implandata) received CE marking for its next generation EYEMATE-IO 1.1 implantable micro-sensor. The novel product will help eye surgeons to place the permanent implantable eye pressure sensor in conjunction with cataract surgery through significantly smaller incisions. In April 2019, company launched EYEMATE-IO 1.1 in Europe.

Furthermore, in June 2018, HumanOptics received U.S. Food and Drug Administration (FDA) approval for its CustomFlex Artificial Iris, first stand-alone prosthetic iris. CustomFlex Artificial Iris (HumanOptics) is a flexible silicone device indicated for adults and children with congenital aniridia or iris defects due to albinism, traumatic injury, or surgical removal.

However, product recall for ocular implants is expected to hinder the global ocular implant market growth. For instance, in October 2018, Drug Controller General of India (DCGI) issued a product recall notice to Allergan India Private Limited for its Ozurdex Intravitreal Implant due to detection of silicone particle in it.

Key Takeaways of the Global Ocular Implant Market:

  • The global ocular implant Market is expected to expand at a CAGR of 7.1% during the forecast period (2018 – 2026), owing to increasing burden of eye-related disorders, which require eye replacement or artificial eye
  • Increasing collaboration activities among key players, which will enhance the ophthalmic therapeutics and treatment options is expected to drive growth of the global ocular implant market. For instance, in August 2018, Aerie Pharmaceuticals, Inc. and DSM Biomedical, Inc. entered into strategic research collaboration, in order to evaluate the sustained delivery of certain Aerie compounds using DSM’s bioerodible polyesteramide polymer technology. The initial focus has been on retinal diseases such as wet AMD (wet age-related macular degeneration) and DME (diabetic macular edema).
  • Major players operating in the global ocular implant market include Novartis AG, Pfizer Inc., Staar Surgical, Johnson & Johnson Services, Inc., Bausch & Lomb Incorporated., Morcher GmbH, OSD Medical GmbH, Ophtec BV, and ZEISS International

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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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