Ocular Implants Market to Reach USD 7.94 Billion by 2026; Increasing Investment in Product R&D to Provide Impetus to Market Growth

The global ocular implants market size is projected to reach USD 7.94 billion by 2026. Technological advancements have played a key role towards the widespread adoption of ocular implants. According to a report published by Fortune Business Insights, titled “Ocular Implants Market Size, Share & Industry Analysis, By Product Type (Intraocular Lenses, Glaucoma Implants, Ocular Prostheses, Corneal Implants and Others), By End-user (Hospitals, Ophthalmic Clinics, Others), and Regional Forecast, 2019-2026,” the market was worth USD 5.11 billion in 2018 and will exhibit a CAGR of 5.7% during the forecast period, 2019-2026.

Ocular implants are used in treatment of ocular diseases during prosthesis. The advancements in the material associated with ocular implants will lead to a wider product adoption across the world. The increasing number of regulatory approvals will contribute to the growth of the market in the coming years. The high prevalence of ocular diseases will create several growth opportunities for the companies operating in the market. Moreover, the growing awareness regarding eye health at early stages by public as well as private organizations will emerge in favour of market growth. Technological advancements have played an important part towards wider adoption, subsequently aiding the growth of the market.

Clinical Research Consultants, Inc.’s Approval for Artificial Iris from the USFDA

The report highlights a few of the major regulatory approvals of recent times and states their impact on the overall market. Accounting to the widespread adoption of ocular surgeries and implants, several companies are looking to introduce newer products of their own. Moreover, increasing number of regulatory approvals for ocular implants will encourage these companies to launch newer products. In May 2018, Clinical Research Consultants, Inc. announced that it has received an approval for its latest product. The company introduced the world’s first ever artificial iris. This product is used in treatment for patients suffering from a rare genetic ocular disease, ‘Aniridia.’ The approval for this product will not only help the company grow, but will have a direct impact on the growth of the market in the coming years.

To Get the detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/ocular-implants-market-101877

Technological Advancements Will Create Several Growth Opportunities

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, technological advancements in ocular implants have made the highest impact on the growth of the market. Technological advancements have yielded some exceptional products. The improvements in products associated with ocular implants will have a direct impact on the growth of the market in the coming years. The high investment in the development of advanced ocular implants will constitute an increase in the ocular implants market size.

Focus on Novel Products is a Growing Strategy Among Major Companies

The growing focus on the development of novel pipeline products, coupled with the emphasis on the development of efficient products, will have a direct impact on the growth of the market in the coming years. Moreover, the adoption of mergers and acquisitions has helped companies generate substantial ocular implants market revenue in the coming years. A few of the leading companies that are operating in the global ocular implants market are:

• Alcon


• Johnson and Johnson Services, Inc.


• Bausch & Lomb Incorporated


• ZEISS International


• STAAR SURGICAL


• Hoya Corporation


• Glaukos


• Second Sight


• Allergan


• Other Prominent Players

Further Report Findings:

The report analyses the ongoing ocular implants market trends across

• North America (Highest Share)
  
  
  
  • 2017: USD 1.67 billion
  
  
  • 2018: USD 1.75 billion
  
  
  
  


• Europe


• Asia Pacific (Fastest CAGR)


• Latin America


• Middle East and Africa

The market is segmented on the basis of:

By Product Type:

• Intraocular Lens


• Glaucoma Implants


• Ocular Prostheses


• Corneal Implants and Others

By End-user:

• Hospitals


• Ophthalmic Clinics


• Others

Industry Developments:

• January 2018: Glaukos Corporation announced that it has submitted an IDE application to the US FDA ‘iStent’ infinite, a product that is indicated to be used in the treatment of glaucoma.

The global ocular implants market is segmented on the basis of: