Published: June 2022 | Report Code: 12366 | Available Format: PDF
The global ocular implants market size stood at $10,079.7 million in 2021, and it is expected to advance at a CAGR of 6.2% during 2021–2030, to reach $17,279.4 million by 2030. This is ascribed to the increased prevalence of ophthalmologic diseases such as glaucoma and age-related macular degeneration (AMD), rise in awareness of comprehensive eye care services, growth in the older population, the inclusion of eye care services in the insurance system, and surge in investments in research and development of innovative products.
During the COVID-19 pandemic, many countries enforced a rigorous lockdown, which resulted in the delay of elective surgery, reducing the demand for ocular implants. However, with the re-opening of economies, the need for these treatments has increased significantly, due to the earlier delayed procedures and a greater emphasis on numerous awareness efforts.
Ocular diagnostic technology advancements have resulted in increased product uptake. These new technologies are helping enhance results for eye surgeries and open up new ways of seeing for persons who are blind. Thus, the growing acceptance of innovative ocular equipment, such as artificial or bionic eyes and glaucoma devices, has created several opportunities for industry players.
The intraocular lenses category accounted for the largest market share, of more than 45%, in 2021 in the market. This is because of the extensive usage of intraocular lenses in the treatment of nearsightedness, farsightedness, and presbyopia. The overall number of patients receiving cataract surgery has more than tripled in a decade, which has also boosted the demand for these lenses. Furthermore, technological developments and increased awareness in developing countries are also expected to drive the market in this category.
Moreover, the demand for glaucoma implants is expected to grow at a rapid pace during the forecast period in the ocular implants market. This can be ascribed to the introduction of innovative glaucoma-implanted devices, such as micro-invasive glaucoma surgery (MIGS), and the initiatives of government and private organizations to raise glaucoma awareness.
For instance, in March 2021, Glaukos Corporation, an optical medical technology and pharmaceutical firm, initiated patient-centered initiatives. The World Glaucoma Association (WGA) organizes World Glaucoma Week each year to increase awareness about the risk and prevalence of glaucoma. Glaukos Corporation, as a sponsor, has developed a global education and awareness campaign and is cooperating with eye care institutions to provide free glaucoma screenings.
Additionally, the corneal implants category will contribute significantly to the market in the coming years, as these implants are used to treat keratoconus and correct refractive vision. Furthermore, the incidence rate of corneal infection has grown remarkably. There is an increase in visual disability among working people due to cloudy corneas, which has increased the demand for cornea implants in the industry.
A cataract is an eye illness characterized by clouding of the eye’s lens, the severity of which can result in vision impairment. As a cataract is one of the major causes of blindness, the category accounted for the largest market share, of more than 45%, in 2021. According to a government report, approximately 65.2 million individuals were affected by cataracts in 2021.
Furthermore, eye illness awareness initiatives performed by enterprises and other organizations are likely to fuel market expansion in this category. For instance, in 2021, to raise awareness of cataracts and cataract surgeries, Bausch Health’s subsidiary, Bausch + Lomb collaborated with Prevent Blindness to focus on eye health. As a result, such activities are projected to have a favorable impact on the demand for ocular implants.
The APAC ocular implants market is projected to register the highest CAGR, of more than 6%, in terms of revenue, during 2021–2030. There is a large pool of old population in APAC countries who are sensitive to chronic diseases like diabetes and are at a high risk of acquiring severe eye ailments. Also, vision loss can occur as a result of ocular illnesses. Moreover, due to the increase in healthcare infrastructure, surge in acceptance of technologically advanced products, and favorable patient demographics, the demand for ocular implants is rising rapidly in the region.
Moreover, the North American market generated a significant revenue in 2021. This is due to the presence of key players and an increase in the number of eye procedures in the region. Moreover, regional companies are concentrating their efforts on both developing and developed regions, in order to take advantage of all unexplored prospects.
The U.S. leads the North American market. Key players in the country are focusing on product approvals and launches of advanced ocular implants. For example, Alcon, a global leader in eye care, introduced the Clareon family of intraocular lenses (IOLs) in the U.S. in March 2022. Clareon uses Alcon's most modern IOL material to provide consistent visual outcomes and long-lasting clarity.
Hospitals are the largest end users of ocular implants, and the category is projected to witness a healthy CAGR, of more than 6%, during the forecast period. This is because hospitals are large healthcare organizations that provide a variety of specialist treatments under one roof, and they have skilled ocular practitioners and witnessed increased patient footfall.
Moreover, specialty eye institutes account for a significant market share, owing to the increasing number of these institutes and ophthalmologists in developing nations, including India, Thailand, the Philippines, and China, due to the favorable government policies and increased ease of doing business in these countries.
Report Attribute | Details |
Historical Years |
2017-2021 |
Forecast Years |
2022-2030 |
Market Size in 2021 |
$10,079.7 Million |
Revenue Forecast in 2030 |
$17,279.4 Million |
Growth Rate |
6.2% CAGR |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Segments Covered |
By Product; By Material; By Application; By End User; By Region |
Explore more about this report - Request free sample pages
To improve their position and share, key players operating in the ocular implants market have been involved in various strategic developments such as product launches and approvals, and clinical trials. For instance:
In February 2022, PolyActiva Pty Ltd. reported favorable phase IIa trial results for the PA5108 ocular implant with Prezia sustained drug delivery technology in the low-dose cohort.
In January 2021, Alcon launched AcrySof IQ Vivity IOL (Vivity), the non-diffractive intraocular lens with increased depth of field.
In May 2020, Allergan Plc, a subsidiary of AbbVie, got the FDA approval for DURYSTA (bimatoprost implant), an intracameral biodegradable sustained-release implant that lowers intraocular pressure in open-angle glaucoma or ocular hypertension patients.
The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.
Based on Product
Based on Material
Based on Application
Based on End User
Geographical Analysis
The ocular implants market size stood at $10,079.7 million in 2021.
During 2021–2030, the growth rate of the ocular implants market will be 6.2%.
Hospitals are the largest end users of ocular implants.
The major drivers of the ocular implants market include the increased prevalence of ophthalmologic diseases, the rise in awareness of comprehensive eye care services, the growth in the older population, the inclusion of eye care services in the insurance system, and the surge in investments in research and development.
Get a bespoke market intelligence solution
Want a report tailored exactly to your business strategy?
Request CustomizationWant an insight-rich discussion with the report author?
Speak to AnalystOur dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws