Global Corneal Surgery Market is expected to grow at a CAGR of 5.2% during forecasted period 2017-2023.
Corneal surgery devices are the devices used during the transplantation of cornea. Visual impairment can be caused due to genetic factors, diseases like diabetes and other infectious diseases and much more. According to WHO, 422 million people are suffering from diabetes globally and this number is increasing at the rate of 8.5%. According to American Academy of Ophthalmology, diabetes is responsible for causing visual complication in approximately 4.5 million Americans. An increasing number of surgical procedures and rising prevalence of diabetes and other diseases has promoted growth of the market. Increasing aging population, introduction on advanced devices for treatment and increasing healthcare expenditure has also contributed in the growth of the market. Moreover, continuous developments and high advancement in the corneal surgery devices, increasing incidence of diabetes, and increasing number of corneal surgeries has provided fuel for the growth of the market. Whereas, high cost of treatment and risk of infection due to devices has hampered the growth of the market. The risk of infection is very high since the cornea has no blood vessels and it derives its nutrients from the aqueous humor. Thus, prophylaxis treatment is an important part of the treatment even if there is no infection. Cornea rejection, occurs in about 20% of cases. Graft failure can also occur at any time after the cornea is transplanted, even years or decades later. These complications are the greatest barriers for the global corneal surgery market.
Segmentation: Global corneal surgery devices market is segmented on the basis of devices types, into diagnostic devices, corneal surgery devices, vision care. Diagnostic devices are further segmented into fundus cameras, keratometers, corneal topographer, ophthalmic ultrasound imaging systems and other. On the basis of transplantation type, market is segmented into deep anterior lamellar keratoplasty, penetrating keratoplasty, synthetic corneas and other. Synthetic corneas are further segmented into boston keratoprosthesis, alphacor, osteo-odonto-keratoprosthesis. On the basis of procedures, they are segmented into pre-operative examination, penetrating keratoplasty, lamellar keratoplasty On the basis of end users, they are segmented into ophthalmic clinics, hospitals and other.
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Geographically, Global corneal surgery devices market is dominated by America. America corneal surgery devices market is driven by the increasing number of corneal transplants and rising prevalence of diseases like diabetes and ophthalmic diseases. According to Eye Bank Association of America, more than 47,000 corneal transplants will be performed in the US alone in 2013. According to WHO, 82% of the people living with visual impairment are aged 50 and above. Many diseases are also responsible for causing ocular problems. According to American Academy of Ophthalmology, diabetes is responsible for causing visual complication in approximately 4.5 million Americans. America is segmented into two major regions; North America and South America. Major share for the market is acquired by North America due to well-developed medical sector, presence of huge aging population and high healthcare spending.
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The key players for the global corneal surgery devices market are Alcon Laboratories Inc. (Switzerland), KeraMED (Canada), Abbott Medical Optics Inc. (US), Bausch Lomb, Inc. (US), Carl Zeiss Meditec AG (Germany), Haag-Streit AG (Switzerland), Ziemer Ophthalmic Systems AG (Switzerland), Topcon Corporation (Japan), Essilor International S.A. (France), Johnson Johnson Private Limited (US), Nidek Co. Ltd. (Japan), Cooper Vision (US)
Global corneal surgery devices market is a saturated market due to the presence of many major and local players. A number of different devices are available in the market and so key players are trying to focus on acquisition and strategic alliances with local companies to minimize the competition.
Alcon Laboratories Inc. is an American medical company specializing in eye care products and is a subsidiary of Novartis. Company is headquartered in Switzerland. Company manufacturers number of diagnostic devices. WaveLight, VERION, EX-PRESS and CENTURION are some of the major diagnostic machines manufactured by the company.