The most recent USD Analytics report predicted that the worldwide “Corneal Transplantation Market” will expand at a CAGR 6.54% during 2023 to 2030
Hyderabad, India — (SBWIRE) — 02/22/2023 — Corneal Transplantation Market
Corneal transplantation is a popular surgical treatment used to restore vision. It replaces the injured cornea with healthy donor tissue, which in many cases restores eyesight. The recipient’s sick or injured outer layer of their eyeball – the cornea – may be removed and replaced with donated human tissue, such as an artificial corneal implant, or with living ophthalmic tissue (cornea) from another person if they are a match. Corneal transplant surgery can be performed as an outpatient procedure with no overnight stay. Local anaesthetic is used for the surgery, and a tiny bandage contact lens may be put afterward to protect and expedite recovery.
Corneal transplants are most commonly used to treat severe dry eye or keratoconus, but they can also relieve discomfort caused by corneal abrasions caused by injury or exposure to chemical irritants such as chlorine gas or bleach.
Market Growth and Future Apprehension:
The most recent USD Analytics report predicted that the worldwide “Corneal Transplantation Market” will expand at a CAGR 6.54% during 2023 to 2030.
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-Serge in Geriatric Population
The geriatric patient population is growing rapidly worldwide due to a significant rise in the subset of patients older than 80. According to the US Department of Health and Human Services, 54.1 million people were aged 65 and above in 2019. The population will reach 80.8 million by 2040 and 94.7 million by 2060. As the number of geriatric people increases, the demands of this group for healthcare services also continue to grow. The aging of an ocular surface and corneal tissues, and the consequent impairment of visual functions lead to severe eye diseases and a significant impact on vision. Conditions affecting these important elements of the eye impose a significant medical and social impact on society. As a result, the growing elderly population is driving the total expansion of the corneal transplant market.
However, the risks associated with Corneal Transplantation and shortage of donor material hampers the market growth.
-Shortage of Corneal Donors
There is a tremendous demand for corneal donors all across the world, since roughly 10 million individuals require corneal transplants. Densely populated countries, such as India, have a severe scarcity of donor corneas, and patients suffering from corneal blindness must wait more than six months for corneal transplants. Due to corneal abnormalities, around 6.8 million individuals in the country have impaired eyesight in one eye and roughly one million have poor vision in both eyes. It is anticipated that 10.6 million cases of unilateral corneal blindness would occur in India by the end of 2020. Around 120,000 persons were afflicted by corneal blindness in 2019. Annually, around 250,000 corneas are required in the country; however, the overall number of corneas donated each year is approximately 25,000. The high prevalence of corneal blindness, along with a scarcity of corneal donors, is predicted to provide high-growth possibilities for corneal implant producers.
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-Shortage of Ophthalmologists
Although the need for ophthalmologists has expanded significantly—proportionally to worldwide population growth—the number of ophthalmologists has not. This is especially noticeable in underdeveloped nations. In India, for example, there is one ophthalmologist for every 107,000 people, but in the United States, the ratio is 1:5,800. While some locations have a ratio of 1:9,000 (mostly metropolitan areas), others have ratios as low as 1:608,000.
– Penetrating Keratoplasty
– Endothelial Keratoplasty
– Fuchs’ Dystrophy
– Infectious Keratitis
– Corneal Ulcers
– North America
– Asia Pacific
– Latin America
– Middle East and Africa
Some of the prominent players in the Corneal Transplantation Market are
– Alcon, Inc
– Lifeline Scientific Inc
– CorNeat Vision
– Keramed, Inc
– San Diego Eye Bank
– Cornea Biosciences
– Keramed Inc
Asia-Pacific offers lucrative opportunities for key players in the artificial cornea and corneal implant market, owing to an increase in population, particularly geriatric population, as well as a large patient pool in the region suffering from various eye diseases, providing numerous growth opportunities to corneal implants market players. Furthermore, numerous initiatives for improving eye-banking skills established by eye banks and other organisations will fuel the Asia Pacific corneal implants business expansion throughout the projected period.
For more information on this press release visit: http://www.sbwire.com/press-releases/corneal-transplantation-market-size-share-value-growth-segment-analysis-and-competitive-insights-2022-2030-1371157.htm
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