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North America Ocular Implants Market Research Report – Segmented By Implant Type, Application, End-User & Country (the United States, Canada and Rest of North America) – Industry Size, Share, Trends & Growth Forecast (2022 to 2027)

Published: March, 2023
ID: 8011
Pages: 145
Formats: report pdf report excel report power bi report ppt

North America Ocular Implants Market Size (2022 to 2027)

The size of the North America Ocular Implants Market is estimated to grow at a promising CAGR between 2022 to 2027.

The Ocular implants market in North America is majorly driven by growth in ophthalmic disorders such as glaucoma, scleritis, and age-related macular degeneration, majorly driving this region's market growth. Also, sedentary lifestyles, which result in diabetes and strain on the eye due to long working hours on the computer, are the reasons for dry eye and diabetic retinopathy.

Growing geriatric population and rising awareness among people about ocular implants are most likely to accelerate the market growth. In addition, the higher acceptance of vision correction procedures and fast adoption of intraocular lenses for cataract surgeries are the other major factors influencing the market growth during the forecast period. 

Furthermore, cataract is one of the major causes of blindness, accounting for around 51.0 percent of all blindness worldwide. A cataract is an age-related illness; thus, the market is being driven by the growing geriatric population. Additionally, the adoption of advanced technology in the region's healthcare sector is projected to impact market growth positively. Favourable reimbursement policies and increased funding for the development of innovative drug delivery systems may aid market growth. As a result, several firms are working on developing long-term medication delivery systems for both the anterior and posterior segments.

Rising support from the government and other private organizations for the increasing healthcare sector in the region is expected to propel market growth. Several companies in the region are investing in research and development activities to create market growth. In addition, the Ever-growing awareness among the people in the developed countries such as the United States and Canada about the prevalence and treatment options for different ocular diseases is expected to boost the market growth. 

According to the National Science Foundation, the US government gave 44.0 percent of its allotted expenditures for healthcare R&D to eye research organizations in 2015. As a result of an increase in government R&D spending and an increase in the number of clinical trials for intraocular lenses, this market is expected to grow rapidly.

The solidity of the implants, on the other hand, might cause discomfort, as well as medication dilution, irritation, and severe lachrymation, which could limit the market growth.

This research report on the North America Ocular Implants Market has been segmented and sub-segmented based on the following categories:

By Implant Type:

  • Intraocular lenses
  • Corneal implants 
  • Glaucoma implants       
  • Orbital implants  
  • Ocular prosthesis
  • Others   

By Application:

  • Glaucoma Surgery
  • Oculoplasty
  • Drug Delivery
  • Age-Related Macular Degeneration
  • Aesthetic Purpose
  • Others

By End User:

  • Hospitals
  • Specialty Eye Clinics
  • Eye Institutes

By Country:

  • The United States
  • Canada
  • Rest of North America

Geographically, the global ocular implants market was dominated by North America in 2020. . The market growth in the region is attributed to the proliferation of blindness cases, sedentary lifestyles of the people, and availability of favorable reimbursement policies. The other factors, such as increasing healthcare spending, advancing healthcare infrastructure, and increasing cataract surgeries, are majorly driving the market growth. Due to an increase in the incidence of glaucoma and macular degeneration, growing demand for targeted ocular drug delivery techniques, and an increase in the number of approvals from government regulations for new ocular drug delivery techniques, developing countries such as the United States and Canada are expected to be the fastest-growing in the North America region. The United States accounted for the highest share in the ocular implants market. Because of the increased frequency of treatment for visual impairment at hospitals, the hospital sector is expected to be the largest segment held a significant share in the market. In contrast, specialized eye institutions are expected to be the fastest-growing category.

KEY MARKET PLAYERS:

A few of the noteworthy companies operating in the North American ocular implants market profiled in this report are Bausch & Lomb, Alcon, Carl Zeiss, Johnson & Johnson, MORCHER GmbH, and STAAR surgical.

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