Artificial Iris Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025
The global
artificial iris market is anticipated to gain the market worth of US$ 16.28
million by 2025, expanding at a CAGR of 6.39% during the forecast period
2019-2025. The natural pupil controls the amount of light that enters the eye
and people with pupil or iris abnormalities may experience glare or haloes in
sunlight or bright artificial light. Patients may also feel self-conscious
about the appearance of their eyes with an abnormal pupil and wish to have them
corrected. A solution to these issues has emerged in the form of Artificial
Iris. Adoption of the artificial iris may be driven due to the growing number
of eye defects, escalating geriatric population and eye defects associated with
aging and increasing demand for minimally invasive surgical procedures.
However, the lack of reimbursement would act as the major limiting factor for
the sale of the technology. As per the United Nations, Population aging refers
to the change in the composition of a population such that there is an increase
in the proportion of older persons. Growth in certain regions and countries is
decelerating whereas population aging is accelerating. In 2017, there were an
estimated 962 million people aged 60 or over in the world, comprising 13% of
the global population. The population aged 60 or above is growing at a rate of
about 3% per year. Rapid aging will occur in other parts of the world as well
so that by 2050 all regions of the world except Africa will have nearly a
quarter or more of their population at ages 60 and above. The number of older
persons in the world is projected to be 1.4 billion in 2030 and 2.1 billion in
2050 could rise to 3.1 billion in 2100. In addition, two comprehensive
Scandinavian studies have shown a prevalence of classical aniridia between 1 in
40,000 and 72,000 live births. Moreover, ocular coloboma occurred in 1 in 2077
live births.
For
Regional/country-level analysis of the overall adoption and sales
of Artificial iris browse through - https://univdatos.com/report/artificial-iris-market-current-scenario-and-forecast-2019-2025
Fiber and fiber-free artificial iris are the two major types
of artificial iris available for sale in the market. The two models are
identical in every respect except that the fiber model has a polyester meshwork
layer embedded in it to provide adequate tear strength to withstand suturing.
The fiber-Free model is suitable for sutureless implant techniques or can be
sutured. The fiber-embedded device is more robust to tighter sutures and is
less likely to induce cheese wiring or tearing under higher suture tensions,
though it is stiffer to fold. In 2018, Fibre-free artificial iris dominated the
market. The fiber model is composed of an embedded polyester meshwork layer to
provide ample tear strength to withstand suturing whereas, the fiber-free model
is suitable for sutureless implant techniques or can be sutured. Fiber
artificial iris is expected to witness a CAGR growth of 7.01% during the
analyzed period. The colour of the eye in humans is determined by the
pigmentation of the iris. Several coloured artificial irises are available in
the market such as blue, brown, hazel, grey and others. Iris implant surgery
can permanently alter the colour of the eyes. This is not a legitimate medical
practice as there is a high degree of risk for irreversible vision loss. The
surgery was initially developed to repair the iris (or outright replace it) in
the event of trauma or illnesses that affect the eye, like cataracts or
glaucoma. A side effect of this kind of treatment is a permanent change in eye
colour, which led to a demand for the procedure for cosmetic reasons. Therefore,
the artificial iris has two major application therapeutics and cosmetic
surgery. The brown colour artificial iris segment is expected to generate
revenue of US$ 5.65 million by 2025.
Both adults and pediatrics suffer from the aniridia as it
is a congenital, hereditary, bilateral, extreme form of iris hypoplasia that
may be associated with other ocular defects. The artificial iris implantation
can be done in adults as well as paediatrics. However, adults undergo more of
this procedure. It accounted for a market share of 90.1% in 2018 and expected
to dominate the market in the upcoming years. Patients can undergo implantation
in hospitals, eye centres and other end users. The explicit rise in people
suffering from eye-related diseases will positively affect the growth of
hospitals and physician centres. Based on the application, the market has been
bifurcated into cosmetic and therapeutic. Cosmetic applications are for the
patients who are self-conscious about the appearance of their eyes with an
abnormal pupil. The therapeutic application of artificial iris is for the
patient suffering from traumatic iris defects. In 2018, the Cosmetic
application segment generated revenue of US$ 2.12 million. However, the
Therapeutics application segment is expected to witness a CAGR growth of 6.28%
during the analyzed period.
For a deep-dive analysis of the overall adoption and
penetration of Artificial iris technology, detailed region/country level study
was conducted for major region/county including North America (US, Canada, Rest of North America), Europe (Germany,
Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of
Asia-Pacific) and Rest of the World. Due to the increasing
awareness of Artificial Iris services and high R&D expenditure on
Artificial Iris Europe dominates the global artificial iris market. In 2018,
Europe represented as the highest revenue-generating region, accounting for 41%
share, followed by North America and Asia-Pacific. Asia-Pacific is expected to
witness a CAGR growth of 6.96% during the analyzed period 2019-2025. Some of
the major companies profiled in the global Artificial Iris study include
Ophtec, HumanOptics AG, Morcher, ReperNN, VEO
Ophthalmics, Spectrum Surgical, Eye-yon Medical and Pixium vision. These
industry players are entering into partnerships for the expansion of their
reach and proving patients with better technology. Moreover, these companies
are spending huge amounts on R&D for the production of state of the art
technology.
Global Artificial Iris Market Segmentation
Market Insights, by Material Type
- Fiber Artificial Iris
- Fiber Free Artificial Iris
Market Insights, by Age-group
- Paediatric
- Adult Cohorts
Market Insights, by Colour
- Blue
- Brown
- Others
Market Insights, by Application
- Cosmetic
- Therapeutics
Market Insights, by End User
- Hospital Inpatients
- Eye Surgery Centers
- Others
Market Insights, by Region
- North America Artificial Iris market
- United States
- Canada
- Rest of North America
- Europe Artificial Iris market
- Germany
- Netherlands
- Rest of Europe
- Asia Pacific Artificial Iris market
- Japan
- China
- India
- Rest of Asia-Pacific
- Rest of the World Artificial Iris market
Top Company Profiles
- Ophtec BV
- HumanOptics AG
- Morcher
- ReperNN
- VEO Ophthalmics
- Spectrum Surgical
- Eye-yon Medical
- Pixium vision
UnivDatos Market Insights
(UMI) understands that you may
have your own business need, hence we also provide fully customized solutions
to clients. The Global Artificial Iris Market can be customized to the country level or any other market segment.
UnivDatos Market Insights (UMI) Latest Research Report –
Contact
Us
UnivDatos
Market Insights (UMI)
Email: sales@univdatos.com
Labels: Artificial Iris Market, Artificial Iris Market size, Artificial Iris Market trends, Europe Artificial Iris Market, Healthcare, US Artificial Iris Market
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home