Ocular implants market value to garner US$ 12.54B by the end of 2022

The ocular implants market is expected to garner a market valuation of US$ 12.54 Bn in 2022, anticipated to register a positive market size at a CAGR of 4.5% in the forecast period 2022-2032 and reach a valuation of US$ 19.47 Bn.

Increasing incidence of eye disorders such as age-related macular degeneration, cataract, glaucoma, and scleritis is the major factor expected to drive the market. The rise in the incidence rate is leading to an increase in demand for surgical procedures that require ocular implants.

One crucial factor that indicates this is the major shift towards online education programs and the work from home model. This is leading to a higher percentage of the population being exposed to a relatively high amount of screen time, which can lead to the risk of developing eye disorders.

Eye diseases such as cataracts and age-related macular degeneration are age-related diseases. A rise in the geriatric population is another factor contributing to the growth of the market.

Technological advancement is yet another factor playing an important role in driving the market growth. The introduction of micro-invasive glaucoma devices for patients suffering from glaucoma is a classic example of the technology that has evolved over the last few years.

For instance, Glaukos Corporation received FDA approval for its second-generation trabecular meshwork bypass stent, iStent Inject in June 2018.

Key Takeaways:

• The United States dominates the market with 35% of the market share
• The Asia Pacific ocular implants market is expected to register the fastest market size at a CAGR of 7.1% during the forecast period.
• By product type, glaucoma implants to capture 25% revenue in the global market.
• By application, the glaucoma surgery segment accounts for the largest revenue share of over 30% owing to the rising incidence of glaucoma, coupled with the growing awareness regarding the disease.
• By end-user, the hospitals’ segment dominates the market for ocular implants, holding a revenue share of more than 40%.

Growth Drivers:

• The increase in the incidence rate is leading to a rise in demand for surgical procedures that require ocular implants in the market.
• Increasing adoption of a sedentary lifestyle and the rising prevalence of diabetes may lead to diabetic retinopathy, which is anticipated to boost the sales of ocular implants in the market.

Competitive Landscape:
The competitive landscape of the Ocular Implants Market focuses on one major factor that indicates this is the major shift towards online education programs and the work from home model

• In August 2021, Alcon, Inc., a subsidiary of Novartis, acquired Ivantis, Inc. and its HydrusMicrostent for surgical glaucoma. The intended acquisition supports Alcon’s commitment to further strengthen its industry-leading portfolio across refractive, retina, cataract, and glaucoma.

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