Ocular Implants Global Market Report 2024

Ocular implants are employed to enhance the vision of individuals. These implants contribute to the restoration of sight in those who have lost an eye due to injury or disease, commonly known as a glass eye, typically crafted from hard plastic acrylic. The prosthetic eye takes the form of a shell, incorporating a clear, artificial lens implant utilized to substitute a clouded natural lens during cataract surgery.

The primary product categories within ocular implants encompass intraocular lenses, corneal implants, orbital implants, glaucoma implants, and others. Intraocular lenses are fashioned from materials such as clear plastic, silicone, or acrylic. These lenses refract light rays entering the eye, facilitating improved vision. Additionally, they are coated with a special material designed to shield the eyes from the harmful ultraviolet rays emitted by the sun. Ocular implants find application in procedures related to glaucoma, diabetic retinopathy, and age-related macular degeneration, and are utilized by end-users such as specialty eye institutes, hospitals, and clinics.

The ocular implants market research report is one of a series of new reports that provides ocular implants market statistics, including ocular implants industry global market size, regional shares, competitors with a ocular implants market share, detailed ocular implants market segments, market trends and opportunities, and any further data you may need to thrive in the ocular implants industry. This ocular implants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ocular implants market size has grown rapidly in recent years. It will grow from $13.57 billion in 2023 to $15.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The expansion observed in the historical period can be attributed to factors such as ocular trauma, vision correction, diabetic retinopathy, eye diseases, and regulatory approvals.

The ocular implants market size is expected to see rapid growth in the next few years. It will grow to $22.96 billion in 2028 at a compound annual growth rate (CAGR) of 11.0%. The anticipated growth in the forecast period can be linked to factors such as a growing aging population, an increase in the prevalence of myopia, advancements in glaucoma management, the adoption of minimally invasive surgery, and an emphasis on patient safety. Key trends expected in the forecast period encompass technological advancements, innovation in ophthalmic practices, the integration of digital healthcare solutions, developments in regenerative medicine, and the application of artificial intelligence (AI) in the field of eye care.

The ocular implants market is poised for growth due to the increasing global geriatric population. This demographic, typically aged 65 and older, benefits from ocular implants addressing common age-related eye conditions like cataracts, glaucoma, and presbyopia. These implants enhance vision, reduce reliance on corrective eyewear, and improve the quality of life for older individuals. The World Health Organization projects a rise in the global population of individuals aged 60 and above to 1.4 billion by 2022, compared to 1 billion in 2020. By 2030, 1 in 6 people worldwide will be 60 years or older. Hence, the expanding geriatric population is expected to drive the ocular implants market's growth.

The ocular implants market is also influenced by the increasing prevalence of eye disorders globally. Refractive errors are among the most common eye disorders in the U.S. According to the American Academy of Ophthalmology (AAO), in 2022, over 12 million people aged 40 and above in the United States experienced vision impairment. Globally, approximately 2.2 billion individuals are affected by eye and visual disorders. The rising incidence of eye disorders, including cataracts and glaucoma, is anticipated to fuel the demand for ocular implants.

A prominent trend in the ocular implants market is technological advancements and innovations. Major companies in the market are actively developing new technological solutions to meet customer demand and enhance the sophistication of ocular implants. For instance, in July 2021, ZEISS, a Germany-based manufacturer of optical systems and optoelectronics, introduced the ZEISS Medical Ecosystem. This integrated environment leverages various tools for data management, apps, and services to continuously improve patient outcomes through the effective integration of ocular knowledge and cutting-edge digital technology.

Companies in the ocular implants market are also introducing innovative and high-quality iris implant products to stay competitive. An example is the premium implant ARTIFICIALIRIS SELECT, launched by HumanOptics Holding AG in August 2023. This implant offers expedited and customizable iris replacement with a range of color choices, providing surgeons with options for efficient patient care.

In August 2021, Alcon, a Switzerland-based medical company specializing in eye care, announced the acquisition of Ivantis for $475 million in cash. This strategic move underscores Alcon's commitment to the surgical glaucoma market, strengthening its position in cataract, refractive, retina, and glaucoma solutions. Ivantis is a U.S.-based company known for developing the Hydrus Microstent, a minimally invasive glaucoma surgery (MIGS) device designed to lower intraocular pressure in open-angle glaucoma patients during cataract surgery.

Major companies operating in the ocular implants market include Alcon Inc., Bausch & Lomb Inc., Carl Zeiss AG, STAAR Surgical Company, Johnson and Johnson Services Inc., Morcher GmbH, Aurolab Ltd., Cornea Biosciences, KERAMED INC., Price Vision Group, Gulden Ophthalmics Co. Inc., AJL Ophthalmic SA, Hoya Corp., Rayner Intraocular Lenses Limited, Lenstec Inc., SIFI S.p.A, Ophtec BV, HumanOptics AG, Medicontur Medical Engineering Ltd., Plant Physiology, Hanita Lenses, Omni Lens Pvt. Ltd., EyeKon Medical Inc., FCI Ophthalmics Inc., Santen Pharmaceutical Co. Ltd., Ocular Therapeutix Inc., AcuFocus Inc., Glaukos Corporation, Ivantis Inc.

North America was the largest region in the ocular implants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ocular implants market share report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the ocular implants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

The ocular implants market consists of sales of monofocal lens, toric lens, multifocal and accommodating lenses. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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