OCULAR IMPLANT MARKET ANALYSIS

Ocular implants are medical devices designed to replace a damaged or missing visual organ to restore vision or to improve visual appearance. Ocular implants such as ocular prostheses are artificial eyes used by people to improve facial lineaments damages due to an eye disease or trauma. Cosmetic rehabilitation for these patients through the implantation of ocular prosthesis helps in restoring the patients’ confidence by improving their external appearance. The Ocular prostheses are fitted behind the eyelids over a shrunken eyeball or an orbital implant placed following surgical removal of the eye.

Global ocular implant market is estimated to be valued at US$ 15,347.9 million in 2022 and is expected to exhibit a CAGR of 7.3% during the forecast period (2022-2030).

Figure 1. Global Ocular Implant Market Share (%), by Implants Type, 2022

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Increasing number of product launches are expected to drive growth of the global ocular implant market.

Increasing number of product launches are expected to drive growth of the global ocular implants market. For instance, in July 2018, Alcon, an ophthalmology company had launched its intraocular lens (IOL) portfolio including, Clareon AutonoMe IOL and delivery system, designed to provide easy and intuitive control during cataract surgery, at the Alcon-hosted Synergeyes clinical symposium in Sydney. AutonoMe is the first and only automated, disposable, preloaded IOL delivery system preloaded with the Clareon IOL, and it is automated with CO2-powered delivery mechanism. Moreover, in June 2018, Molteno Ophthalmic, medical device company launched its Molteno3 S-Series glaucoma implants at the 24th Greek Glaucoma.

Figure 2. Global Ocular Implant Market Share (%), by Region, 2022

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Increasing prevalence of corneal diseases is expected to increase demand for ocular implants.

Increasing prevalence of corneal disease is expected to increase demand for ocular implants, which is expected to drive the global ocular implants market growth over the forecast period. For instance, according to the World Health Organization (WHO), corneal blindness is one of the major causes of visual deficiency after cataract, glaucoma and age-related macular degeneration (AMD) and 4th cause of blindness globally (5.1%). Moreover, according WHO, cornea diseases affect around 30 million people and around two million new cases of corneal dysfunction are diagnosed each year. Furthermore, in February 2021, according to the data published by the National Center for Biotechnology Information, prevalence of corneal diseases in globally is 217 million people and 36 million blind people, the challenge of reduced vision remains a serious public health challenge.

Global Ocular Implant Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the global ocular implant market, owing to the decrease in surgical procedures due to COVID 19 pandemic. For instance, in July 2020, according to the data published by the National Center for Biotechnology Information, at the procedure level, a decrease of 14.8% was observed for elective procedures and 6.0% for emergency procedures. The COVID-19 pandemic has caused substantial disruptions to surgical-care delivery mainly due to diversion of available resources from surgical to COVID-19 care, reduced flow of patients, supply-chain interruptions and social distancing and restriction measures. Surgical delivery, owing to its cross-cutting nature and synergistic effects on health systems at large, had been adversely affected by the pandemic.

Global Ocular Implant Market: Key Developments

In June 2022, EyePoint Pharmaceuticals, Inc., pSivida, Pharmaceutical Company, received Chinese regulatory body approval for an implant to treat a form of eye inflammation, becoming the first company to get a nod in the country based entirely on real-world data. Ocumension Therapeutics paid an initial $1.75 million to access EyePoint’s technology in 2018. Ocumension Therapeutics filed for National Medical Products Administration (NMPA) approval of Yutiq in April 2021. According to the biotech, the filing was the first submission for National Medical Products Administration approval of a sustained-release micro-insert with a controlled release rate of up to 36 months and the first time The positive National Medical Products Administration decision triggered a further claim, namely that Yutiq is the first medicine approved in China based entirely on real-world data. The Chinese regulator had accepted a new drug application based on real-world study data.

Global Ocular Implant Market: Restraint

The major factors that hinder growth of the global ocular implant market include stringent regulatory approvals combined with recent product recalls. For instance, in August 2018, Alcon, an ophthalmology company, had to initiate voluntary product recall of Cypass Micro-Stent device, indicated for glaucoma surgery. This was attributed to complications in endothelial loss during the use of the device.

Key Players

Major players operating in the global ocular implant market include Novartis AG, Pfizer Inc., Staar Surgical, Johnson & Johnson Services, Inc., Bausch & Lomb Incorporated., Morcher GmbH, OSD Medical GmbH, Ophtec BV, and ZEISS International.