Pune, India -- (SBWire) -- 12/06/2017 --The Global Corneal Transplant Market is expected to grow at a CAGR of 8.5% during the forecast period.
Corneal transplant is a procedure to replace the damaged or diseased cornea which may be due to eye injury or eye disease. Two major types of corneal transplants are penetrating keratoplasty (full thickness cornea transplant) and endothelial keratoplasty (back layer cornea transplant). Need for corneal transplant may rise if the diseased cornea leads to blurred vision. According to the World Health Organization (WHO), 285 million people are estimated to be visually impaired worldwide.
The market for corneal transplant shows exponential growth due to high prevalence of corneal eye disease and rising number of corneal transplants in developed countries. High cost of corneal transplants may restrain the market growth. For instance, the cost of corneal transplant is higher in U.S. than other countries in the Asia Pacific.
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Key Players in the Global Corneal Transplant Market
Some of the key players in this market are CryoLife, Inc. (U.S.), Exactech, Inc. (U.S.), Köhler GmbH (U.S.), Lifeline Scientific (U.S), LifeCell Corporation (U.S.), Medtronic (U.S.), and Organogenesis Inc. (U.S.).
Segments
The global corneal transplant market is segmented on the basis of type, indication, and end user.
On the basis of type, the market is segmented into penetrating keratoplasty, endothelial keratoplasty, descemet stripping automated endothelial keratoplasty (DSAEK), corneal graft, corneal limbal stem cell transplant, and others.
On the basis of indication, the market is segmented into fungal corneal ulcer, bullous keratopathy, keratoconus, keratitis, corneal stromal dystrophies, and others.
On the basis of end user, the market is segmented into hospitals, eye clinics, and others.
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Regional Analysis of the Global Corneal Transplant Market
Europe is the largest market for corneal transplant, which will exhibit positive growth in near future due to the availability of a number of treatment options and prevention strategy as well as rising influence of organ donation programs, and increased government emphasis on organ donation policies. Furthermore, the prevalence of diabetes in the European countries is found to be increasing from the last few years. According to the World Health Organization, about 60 million Europeans have diabetes and its prevalence is relatively high among people over 25 years.
America is the second market for corneal transplant owing to increasing demand for corneal transplant surgery, and rising prevalence of eye diseases, and vision impairment among people in the U.S. Furthermore, the Center for Disease Control and Prevention, age-related eye diseases such as age-related macular degeneration, cataract, diabetic retinopathy, and glaucoma are leading causes of blindness and low vision in the United States.
In Asia Pacific, the market is expected to grow at the fastest rate owing to increasing prevalence of chronic diseases such as diabetes, diabetic retinopathy, and obesity. These diseases act as a risk factors for a number of eye diseases. India is one of the international medical tourism destinations across the world, its growth is attributed to the availability of qualitative eye care treatment and skilled medical professionals. This will fuel the growth of corneal transplant market in India.
The Middle East & Africa is showing a steady rise in the market owing to the rising demand for ophthalmic products and services, and available treatment options.
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