Corneal Transplant Market Projected to Reach $1.2 Billion by 2030, Says MarkWide Research
According to a new report published by MarkWide Research, titled, “Corneal Transplant Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030,” the global corneal transplant market is expected to witness substantial growth, reaching a value of $1.2 billion by the year 2030. The market is projected to exhibit a steady compound annual growth rate (CAGR) of 5.8% during the forecast period.
Corneal transplantation, also known as keratoplasty, is a surgical procedure that involves replacing a damaged or diseased cornea with a healthy cornea from a donor. This procedure is typically recommended for individuals suffering from corneal scars, degenerations, infections, and other corneal disorders that lead to impaired vision. The increasing prevalence of these eye conditions, coupled with advancements in surgical techniques and medical technology, is driving the growth of the corneal transplant market.
One of the key factors contributing to the market’s growth is the rising awareness about eye health and the availability of advanced treatment options. Governments, healthcare organizations, and non-profit entities are actively participating in campaigns to raise awareness about eye donation, which is a crucial aspect of corneal transplantation. The increasing willingness of individuals to donate their corneas after death for transplantation purposes is further propelling market growth.
The report also highlights the technological advancements in corneal transplantation procedures. The introduction of cutting-edge surgical equipment, such as femtosecond lasers and microkeratomes, has improved the precision and success rates of corneal transplant surgeries. Additionally, the development of innovative surgical techniques, such as Descemet’s stripping automated endothelial keratoplasty (DSAEK) and Descemet’s membrane endothelial keratoplasty (DMEK), has enabled faster recovery times and better visual outcomes for patients.
Geographically, North America and Europe are expected to dominate the corneal transplant market during the forecast period. These regions have well-established healthcare infrastructure, a high prevalence of eye disorders, and a strong emphasis on medical research and innovation. Asia-Pacific and Latin America are also anticipated to experience significant market growth due to the improving healthcare infrastructure, growing healthcare expenditure, and rising awareness about eye health in these regions.
The report provides comprehensive insights into the competitive landscape of the corneal transplant market. It profiles key players operating in the market, including eye banks, hospitals, and research institutions that are actively involved in corneal transplantation procedures. The competitive analysis includes information about product offerings, key developments, strategic collaborations, and financial performance.
In conclusion, the global corneal transplant market is poised for substantial growth in the coming years, driven by factors such as increasing awareness about eye health, technological advancements in surgical procedures, and a rising number of eye donations. The market’s expansion is also attributed to the growing prevalence of corneal disorders and the improving healthcare infrastructure in emerging economies. MarkWide Research’s report provides valuable insights for industry stakeholders, investors, and market players looking to capitalize on the opportunities in the corneal transplant market.