Growth of Keratoprosthesis Market Steered by Increasing Incidences of Corneal Blindness, Unveils Fact.MR
Fact.MR, a global research firm, in its latest study on the global keratoprosthesis market shall register a remarkable CAGR in 2021 & beyond. Exponential growth in the usage of medical devices as a result of continued progressions in design has prompted increase in the usage of keratoprosthesis. With governments all over the world highly investing in healthcare infrastructure, the keratoprosthesis market is anticipated to foresee a notable growth in the forthcoming years.
Continued Advances in Design & Superior Operative Care to Create Potential Growth Prospects
Keratoprosthesis has advanced in recent years owing to product improvement and drop in side effects of keratoplasty. The expansion of the ophthalmology sector can be accredited to periodic launch of novel technologies in the area of ophthalmic surgery. The preference and need for enhanced health care facilities have generated prospects for commercialization and development of surgical platforms.
Fact.Mr also indicated that keratoprosthesis indications have increased significantly in recent years as well as post-operative complications have brought down with modifications in design of prosthesis and postoperative regimen. As per an article published by the Indian Journal of Ophthalmology, the previous decade has foreseen a rise in several keratoprosthesis procedures performed across the world.
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Keratoprosthesis Market: Segmentation
Tentatively, global keratoprosthesis market has been segmented on the basis of product type, disease indication, end user, and geography.
Based on product type, global keratoprosthesis market is segmented as below:
- Boston Keratoprosthesis (KPro)
- Type I
- Type II
Based on disease indication, global keratoprosthesis market is segmented as below:
- Bullous Keratopathy
Based on end user, global keratoprosthesis market is segmented as below:
- Ambulatory Surgical Centers
Geographically, global keratoprosthesis market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding China and Japan, China, Japan, Middle East and Africa. North America is expected to dominate the keratoprosthesis market in terms of revenue share followed by Western Europe. Asia Pacific is expected to experience delayed growth due to the lack of skilled physicians.
However, Asia Pacific is expected to be the most lucrative market for keratoprosthesis with maximum CAGR due to growing penetration rate of keratoprosthesis surgeries in the emerging markets. Moreover, increasing number of healthcare practitioners and continuous improvements in the healthcare infrastructure is expected to enable robust industry growth in APAC region. The Middle East and Africa are expected to witness slow and significant growth over the forecast period.
Keratoprosthesis Market: Key Players
Some of the players identified in global keratoprosthesis market include F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bayer AG, Bausch & Lomb Incorporated and others.
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Boston Keratoprosthesis (KPro) Will Remain Lucrative
Boston Kpro is expected to grow exponentially in 2021 and beyond owing to its widespread utilization of artificial cornea or keratoprosthesis. Continued progressions in superior postoperative care and design have ensued in enhanced outcomes as well as an exponential rise in the usage of the device in the forthcoming years. Furthermore, these and other advances are why the Boston KPro type I is at present the most extensively implanted keratoprosthesis globally.
The WHO indicates that about 8 Mn individuals worldwide suffer from corneal blindness with the most of them living in emerging nations. Pilot projects have been accompanied in multiple nations comprising China, India, Ethiopia and Sudan with preliminary but favourable results.
The US will continue to Contribute Highest Revenue Shares
The US is anticipated to contribute majority of revenue shares, followed by UK while majority of keratoprosthesis surgical procedure are performed in the UK and the US.
China and India are low cost of surgery market for keratoprosthesis, thus it is the ideal place for individuals who are preparing for medical tourism. High occurrence of corneal blindness, and increasing health care infrastructure in these emerging countries, are anticipated to boost demand for keratoprosthesis (KPro) in the regions.
Furthermore, there has been a dramatic rise in demand for cornea implant in UAE & Brazil as a result less adoption of keratoprosthesis surgical procedure in these regions.
Technological Advancements will Remains Prime Focal Aspect: Fact.MR Survey
The competitive landscape of the Keratoprosthesis market reflects a fierce competition. Fact.MR’s survey with thought leaders revealed that merger & acquisition, new product launches and technological advancements will remain key strategies of market players in 2021 & beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Regeneron Pharmaceuticals, Inc., Hoffmann-La Roche Ltd., Pfizer, Inc., Bausch & Lomb Incorporated and Bayer AG. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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