India Corneal Implants Market Analysis

India Corneal Implants Market Executive Summary

India Corneal Implants Market is valued at around $7.6 Bn in 2022 and is projected to reach $15.7 Bn by 2030, exhibiting a CAGR of 9.5% during the forecast period 2023-2030.

The Corneal Implant Market refers to the market for devices and procedures used for the treatment of corneal diseases and disorders. Corneal implants are small devices that are surgically embedded into the cornea which helps to correct vision problems or correct abnormalities of vision.

The increasing prevalence of corneal diseases has contributed to the growth of the global market for corneal implants. According to WHO, around 2.2 Bn people worldwide were suffering from eye and vision problems in 2022. Of them, 253 Mn people suffer from moderate to severe visual impairment and 36 Mn were blind. 

There are many players in the global corneal implants market but Presbia Plc, CorNeat Vision, Aurolab, AJL Ophthalmic SA, LinkoCare Life Sciences AB, CorneaGen, DIOPTEX, Mediphacos, EyeYon Medical, and KeraMed, Inc are some of the major players in the market.

Corneal conditions like Cataracts, Keratoconus, Infectious Keratitis, and Fuchs Dystrophy are the most common conditions for increasing vision impairment and loss of vision. Prevalence for these conditions is increasing and it has driven the market for corneal implants. There have been new developments in corneal implants and procedures that have improved the efficacy and outcome of corneal implants.

Corneal diseases are most common in the geriatric population and it is increasing globally which is projected to fuel the market for corneal implants. There are still many challenges like complex regulatory procedures to enter the market, development, and commercialization of the implants, lack of surgical expertise, high cost of implants, and risk of complications. 

Market Dynamics

Drivers of India Corneal Implants Market:

Increasing Prevalence of Corneal Diseases: Increasing prevalence of corneal diseases like keratoconus, corneal scarring, and corneal dystrophy are driving the demand for the corneal implants market. Corneal implants provide a solution for vision correction for patients with these conditions.

Technological Advancements: The expansion of the corneal implant market is being driven by advancements in technologies like improved design, materials, and surgical techniques. It has improved the safety, efficacy, and outcomes of corneal implant Procedures which is fueling the market demand for corneal implants. 

Growing Aging Population: With increasing age people are more prone to develop corneal diseases like presbyopia and age-related molecular degeneration. For the treatment of these conditions, corneal implants are required and it is fueling the market demand. 

Favorable Reimbursement Policies: With more coverage of insurance and reimbursement policies people are demanding treatment for corneal conditions and it has increased the demand for the corneal implants market. It has reduced the financial burden of people and increased the affordability of corneal implant surgeries.

Increasing Demand for Minimally Invasive Procedures: Corneal implants offer less invasive procedures compared to traditional corneal transplant surgeries. It provides faster recovery time and reduced post-operative complications which improves patient comfort. Increasing demand for minimally invasive procedures is driving the adoption of corneal implants.

Developments in Corneal Implants Market:

The market for corneal implants is always changing due to new discoveries and improvements in science and technology. Recent market developments include the following:

Bioengineered Corneal Implants: Tissue engineering and regenerative medicine are being used to develop bioengineered corneal implants. It replaces damaged or diseased corneal tissues with lab-grown tissue and provides solutions to corneal problems.

Customized Corneal Implants: There have been advancements in imaging techniques and 3D printing which has helped in the development of customized corneal implants according to the need and condition of patients. These implants have improved the efficacy and outcomes of the procedures for corneal implantation.

Extended Depth of Focus Implants: It has been developed to address conditions like myopia and presbyopia. It helps to improve the range of vision without the need for contact lenses or spectacles. It has fueled the market for corneal implants.  

Improvement in material: Materials used to develop corneal implant has become more biocompatible to reduce the risk of adverse effects and improve long-term outcomes for a patient with corneal diseases. Continuous research is being done for new materials and surface modifications to optimize the connection between corneal implants and tissues.

Given that they increase the precision and effectiveness of corneal implants, these innovations are anticipated to propel the expansion of the market for corneal implants.