The global ocular implants market was valued at around US$ 15.3 Billion at the end of 2021. The market is projected to register a 3.7% CAGR and top a valuation of US$ 22.0 Billion by 2032.
The increasing prevalence of eye disorders and surging demands for ocular implants are expected to uplift the ocular implants market over the forecast period.
Ocular implants are thin, acrylic-based plastic medical-grade devices that are designed to be placed into the eye. Small prosthetic lenses for the eye are called ocular implants. Ocular implants are used in surgical procedures to treat myopia, presbyopia, glaucoma, and other vision abnormalities in addition to cataracts.
| Attributes | Details |
| Ocular Implants Market Value in 2021 | US$ 11.5 Billion |
| Ocular Implants Market Value in 2032 | US$ 21.0 Billion |
| Ocular Implants Market CAGR (2022 to 2032) | 6.2% |
Age-related disorders include vision problems including cataracts and age-related macular degeneration. One of the main drivers of the market's expansion is an increase in the number of elderly people. Additionally, the rising rate of diabetes and unhealthy lifestyles may result in diabetic retinopathy, which is expected to raise ocular implant revenues. The prevalence of mental health issues is rising, which is causing the market for treating depression to expand. These variables include demographic changes, environmental changes, mental stress, and more.
About 2.2 billion individuals worldwide suffer from near- or far-sightedness, and the number of instances is growing. Additionally, according to the International Myopia Institute (2022), by 2050, there will be five billion cases of myopia, or presbyopia, accounting for 50% of the world's population. It has been noted that the vision impairment in about half of the affected individuals could have been avoided, but in most cases, nothing has been done about it. Ocular Implants are becoming more and more necessary as a result of the rising incidence of eye illnesses and the growing global geriatric population.
In general, the increased incidence of eye conditions including myopia, presbyopia, glaucoma, and cataracts is one of the major reasons boosting the demand for ocular implants and ultimately fueling the expansion of the global ocular implants market.
The ocular implants market is broadly divided into seven major regions, North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
North America is the leading region in the global ocular implants market owing to the increasing number of people suffering from vision impairments and the increasing number of people leading unhealthy lifestyles.
The European ocular implants market is also expected to display lucrative growth in the projected years due to the vast presence of skilled professionals and well-established market players in the region.
The East Asian region is predicted to show lucrative growth owing to the growing population, especially the geriatric population.
Alcon Vision LLC, Johnson & Johnson, Bausch Health, HOYA Corporation, Glaukos Corporation, Carl Zeiss AG, STAAR Surgical Company, AbbVie Inc., Morcher GmbH, Second Sight.
| Report Attributes | Details |
| Growth Rate | CAGR of 6.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2012 to 2021 |
| Forecast Period | 2022 to 2032 |
| Qualitative Units | Revenue in USD Billion, Volume in Units, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segment Covered |
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| Region Covered |
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| Key Countries Profiled |
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| Customization | Available Upon Request |
The global ocular implants market is anticipated to register a CAGR of 3.7% during the forecast period.
The global ocular implants market is projected to be about US$ 22.0 Billion by the end of the year 2032.
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