New Delhi, Sept. 05, 2022 (GLOBE NEWSWIRE) — The aging population, increased incidence of eye diseases, government initiatives to lessen visual impairment, and the rising prevalence of eye diseases are the main factors driving the Global Artificial Cornea and Corneal Implant Market.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consultingrevealed that the Global Artificial Cornea and Corneal Implant Market was worth USD 397.5 million in the year 2021. The market is projected to grow at a CAGR of 12%, earning revenues of around USD 863.7 million by the end of 2028. The Global Artificial Cornea and Corneal Implant Market are booming because the willingness of the consumer to spend money on eye care is credited with driving the expansion in the artificial cornea implant market. Additionally, the main driver of the market’s growth is the rise in ophthalmic illnesses such as keratoconus, Fuchs dystrophy, and viral keratitis. In addition, rising healthcare costs for eye treatment in emerging nations are fueling the expansion of the artificial cornea implant market globally. Additionally, the market can expand as a result of factors including the rise in surgical procedures and the demand for innovative treatment methods. The development of the global artificial cornea implant market, however, is threatened by the high cost of cornea implant surgeries. Additionally, complications from corneal procedures hinder the widespread use of corneal implants.
Eye Diseases Are Increasingly Common
The global population of persons suffering from serious eye problems is growing, and vision loss is becoming a major public health concern. The rising prevalence of chronic diseases such as diabetes and hypertension, as well as the aging population, have all contributed to an increase in the prevalence of eye diseases such as diabetic retinopathy and ocular hypertension (glaucoma). The number of blind or low-vision people is likewise predicted to climb dramatically. According to the Royal National Institute of Blind People (RNIB), over 2 million people in the United Kingdom suffered from sight loss in 2013, with that number expected to climb to 4.1 million by 2050. The globe now, there are 146 million cases of trachoma, of which 10 million have trichiasis and need surgery to prevent corneal blindness, and 4.9 million have trachomatous corneal scarring that has caused them to become completely blind. This results in offering lucrative opportunities for the Global Artificial Cornea and C orneal Implant Market during the forecast period (2022-2028).
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Lack of Corneal Donors
There is an urgent need for corneal donors because around 10 million people worldwide require corneal transplants. Because of a significant lack of donor corneas, there is a more than six-month waiting list for corneal transplants among those with corneal blindness in densely populated countries like India. About 1 million Americans and 6.8 million persons in the country, respectively, suffer visual problems in both eyes as a result of corneal diseases. By the end of 2020, 10.6 million cases of unilateral corneal blindness were expected to occur in India. In 2019, there were about 120,000 cases of corneal blindness. Although the country needs roughly 250,000 corneas annually, only about 25,000 are donated. Given the significant burden of corneal blindness and …