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Corneal Surgery Devices Market is Growing at a Healthy CAGR of 5.2% During Forecast to 2023

Market Analysis:

The global corneal surgery devices market is eyeing for a prodigious growth at a promising 5.2% CAGR over the predicted years (2017-2023). Corneal surgery simply put, is a surgical process where an infected or damaged cornea is treated through corneal tissue transplantation. These transplantations are of two types- lamellar keratoplasty and penetrating keratoplasty. A damaged or unhealthy cornea will affect the vision by distorting or scattering light and resulting in blurred and glare vision. Some of the common causes of damaged cornea include infections namely graft rejection, edema of the cornea, damage from eye injuries, chemical burns of cornea, complications resulting from LASIK surgery, advanced keratoconus, Fuchs’ dystrophy, trichiasis, fungal keratitis or eye herpes. Corneal eye disease is the fourth common cause causing blindness after age-related macular degeneration, glaucoma and cataracts.

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There are plentiful factors that is boosting the growth of the corneal surgery devices market. These factors as per the Market Research Future (MRFR) report include increasing aging population, growing incidences of ophthalmic diseases, high advancement and continuous developments in corneal surgery devices, growing number of corneal surgeries, and increasing incidence of diabetes. On the contrary, high treatment cost coupled with risk of infection resulting from the device are factors that may obstruct the growth of the Corneal Surgery Devices Market.

Key Players:

Cooper Vision (US), Nidek Co. Ltd. (Japan), Johnson & Johnson Private Limited (US), Essilor International S.A. (France), Topcon Corporation (Japan), Ziemer Ophthalmic Systems AG (Switzerland), Haag-Streit AG (Switzerland), Carl Zeiss Meditec AG (Germany), Bausch & Lomb, Inc. (US), Abbott Medical Optics Inc. (US), KeraMED (Canada), and Alcon Laboratories Inc. (Switzerland).

 

Market Segmentation :

  • MRFR report provides an extensive segmental analysis of the corneal surgery devices marketon the basis of diagnostic devices, device types, vision care and corneal surgery devices.
  • Based on diagnostic devices, it is segmented into ophthalmic ultrasound imaging systems, corneal topographer, keratometers, fundus cameras, and others.
  • Based on transplantation type, the corneal surgery devices market is segmented into synthetic corneas, penetrating keratoplasty, anterior lamellar keratoplasty and others. Synthetic corneas are again segmented into osteo-odonto-keratoprosthesis and bostonkeratoprosthesis.
  • Based on procedures, it is segmented into lamellar keratoplasty, penetrating keratoplasty, and pre-operative examination.
  • Based on end users, it is segmented into hospitals, ophthalmic clinics, and others.

Regional Analysis:

By region, the corneal surgery devices market covers growth opportunities and latest trends across Americas, Europe, Asia Pacific, and the Middle East and Africa. Of these, the Americas will govern the market over the predicted years. This is owing to presence of a well-developed healthcare sector and increasing geriatric population. Also, the increasing number of hospitalization techniques owing to higher healthcare penetration in Canada and the U.S., consolidation of large healthcare players, good reimbursement rates and high concentration of leading hospitals in developed countries are boosting the market growth. In Europe, the corneal surgery devices market will have the second major share owing to growing number of ophthalmic clinics as well as other healthcare organization. Germany and France are the key contributors here. The corneal surgery devices market in the APAC region will grow at the highest pace owing to growing number of patients having visual impairment coupled with growing need for improved treatment options. India and China are the key contributors here. Gulf nations namely the UAE and Saudi Arabia are likely to boost the market growth in the Middle East and Africa. Iran, Egypt, Jordan and Kuwait are the other Middle East nations that should be watched out for. On the other hand, the African region is expected to have a poor growth over the predicted years owing to poor healthcare development and poor political and economic conditions.

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