Ocular Implants Market Will Escalate Rapidly in the Near Future
Ocular implants are defined as surgically implanted artificial devices used to restore sharpness of vision after enucleation, evisceration, or orbital exenteration. The size, shape, and power of ocular implants depend on individual patient. Various nonintegrated and integrated materials including hydroxyapatite, Medpor, and bio-ceramic are used for ocular implants.
According to analysis and studies, porous integrated implants (hydroxyapatite) could show some risks and complications such as extrusion, dehiscence, or infections. Presently, nanostructured biomaterials offer higher healing and proliferation rate at low price and less post surgical complications. Ocular implants also have applications in targeted and sustained drug delivery for treating ophthalmologic diseases ranging from glaucoma to diabetic retinopathy. Increase in incidence of ophthalmic diseases and constant rise in the geriatric population that is highly susceptible to eye disorders drive the global ocular implants market.
Global Ocular Implants Market: Dynamics
Increase in Cases of Eye-related Disorders Boosts Market
Eye-related disorders have emerged as potential threats to the populations in all middle-income and industrialized countries. Leading causes of vision impairment include uncorrected refractive errors, cataract, age-related macular degeneration, glaucoma, diabetic retinopathy, corneal opacity, and trachoma. Among these, cataract and uncorrected refractive errors are the most frequent and leading causes of blindness across the world.
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However, there is some variation in the causes across countries. Vision impairment due to cataract is higher in low- and middle-income countries than high-income countries, whereas diabetic retinopathy, glaucoma, and age-related macular degeneration are more common in industrialized countries. Age-related macular degeneration (AMD) ranks third among the global causes of visual impairment, with a blindness prevalence of 8.7%. However, it is the major and primary cause of visual impairment in developed countries.
According to the World Health Organization, an estimated 1.3 billion people were living with some form of vision impairment globally in 2018. According to CDC report, nearly 20.5 million (17.2%) people in the U.S. aged 40 years and above have cataract in one or both eyes, and 6.1 million (5.1%) have had their lens removed operatively. The total number of people who have cataract is estimated to increase to 30.1 million by 2020.
Hence, increase in incidence of visual impairment across the globe are projected to drive the global ocular implants market during the forecast period.
Significant Rise in Awareness about Diagnosis & Treatment of Eye Disorders to Boost Market
Awareness about common eye disorders and their treatments can play an important role in encouraging patients to seek timely eye care, and thereby, help in reducing the burden of visual impairment. Rise in prevalence of diabetes and obesity could increase the number of people with vision impairment. Governments are taking initiatives by conducting various health education programs to spread awareness about preventing these diseases and their available treatments. For example, VISION 2020: The Right to Sight was launched in 1999 with the aim of reducing the burden of avoidable blindness in the world, especially in developing countries such as India.
Rise in awareness among people and increase in government initiatives for vision care management are anticipated to boost the global ocular implants market.
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Global Ocular Implants Market - Competitive Landscape
Major players operating in the global ocular implants market include Johnson & Johnson Services, Inc., Alcon (Novartis AG), STAAR Surgical, MORCHER GmbH, Bausch + Lomb Incorporated, Carl Zeiss Meditec AG, Hoya Surgical Optics, Rayner Intraocular Lenses Limited, Ophtec BV, and SAV-IOL SA.
Johnson & Johnson Services, Inc.
Johnson & Johnson Services, Inc. is the world’s largest and most broadly based health care company, providing services for more than 130 years to keep people well at every age and every stage of life. It offers products through three business segments: consumer products, medical devices, and pharmaceutical products. Vision care products, including disposable contact lenses and ophthalmic products related to cataract & laser refractive surgery, are offered under the medical devices segment. Different brands offered by Johnson & Johnson Services, Inc. in the vision care segment include ACUVUE, Blink, iLASIK, LipiFlow, and Symfony.
STAAR Surgical
STAAR designs, develops, manufactures, and markets implantable lenses for the eye and companion delivery systems. The company sells its products in more than 75 countries and conducts manufacturing in the U.S. Its major product line includes ICLs, IOLs, and surgical products. STAAR Japan, Inc., STAAR Surgical AG, and Domilens Vertrieb fuer medizinische Produkte GmbH are the three subsidiaries of STAAR Surgical.