Ocular Implants Market Size & Forecast

The Ocular Implants Market is expected to reach $23.43 billion by 2031, at a CAGR of 6.1% from 2024 to 2031. The growth of the ocular implants market is driven by the increasing geriatric population coupled with the high prevalence of eye diseases, the rising adoption of minimally invasive surgeries, increasing healthcare expenditure, technological advancements in ocular implants, increasing accident cases, and the rising need for ocular implants. However, the risk of post-surgery infection and inflammation, lack of skilled ophthalmic surgeons, and strict regulations and approval processes restrain the growth of this market.

Additionally, the lack of awareness in rural areas, technological complexities, high implant costs, and increasing product recalls are major challenges for the players operating in this market. Furthermore, biomaterial-based ocular implants, AI-driven 3D printed prosthetic eyes, and drug-eluting implants are trends in the ocular implants market.

Ocular Implants Market Growth Drivers

Rising Geriatric Population Coupled with High Prevalence of Eye Diseases

The rising geriatric population has become a concern in several countries globally. This increase is attributed to the increasing life expectancy, declining fertility rates, and improvements in the quality of healthcare resulting in greater survival rates. According to the World Health Organization (WHO), by 2030, one in 6 people globally will be aged 60 years or above. In 2022, the elderly population reached nearly 1.4 billion from 1 billion in 2020. This number is expected to increase further to 2.1 billion by 2050.

The geriatric population is more prone to eye diseases due to weakened immune systems, age-related macular degeneration (AMD), and other diseases. Also, cataracts impact more than 20.5 million Americans aged 40 and older, and 6.1 million Americans have had cataract surgery. (Source: American Academy of Ophthalmology). Such instances are expected to drive the growth of the ocular implants market.

Technological Advancements in Ocular implants

The number of companies that have developed ocular implants has increased significantly over the past decade. Recently, material selection and implant design criteria have progressed from nonporous polymeric spheres to devices with more advanced shapes and complicated functions for ensuring improved clinical results. Due to their highly interconnected design, polymeric and ceramic implants have gained popularity for fibrovascular ingrowth, with depleted obstacle rates provided with improved options for setting prosthetic eye mobility. Additionally, numerous bio-ceramic compositions are currently demonstrated and have resulted in the capacity to bind to soft tissue and promote angiogenesis, making these materials compatible with several soft tissue applications, including eye operation that was earlier unimaginable. Such advancements are expected to drive the ocular implants market.

Ocular Implants Market Trends

AI-driven 3D Printed Prosthetic Eyes

Prosthetic eyes designed and made by artificial intelligence (AI) and 3D-printed take approximately 80% less time to manufacture as compared to traditional manufacturing methods from human specialists. Also, a small trial indicates that prosthetic 3D printed eye has well-fitting advantages in most cases. Also, according to a November 2021 report from University College London, nearly 0.1% of the population in the U.K. need a prosthesis (around 70,000 people), and the prosthetic eye is to be replaced around every five years with a unique socket. For instance, in February 2024, researchers from Fraunhofer Institute for Computer Graphics Research IGD (Germany) collaborated with Ocupeye Ltd. (U.K.) to develop a new AI-driven technique for 3D printing prosthetic eyes. Such instances are expected to drive the market for ocular implants.

Ocular Implants Market Opportunities

Ocular Tissue Engineering

In the cornea, tissue engineering is crucial for maintaining the transparent barrier between the eye and the environment and protecting the eye from microbes and dryness. In severe corneal diseases, transparency is no longer maintained, which is generally because of a malfunction of one of the three parts of the cornea. Thus, developments in tissue engineering have focused on reconstructing the damaged part to restore the transparency of the entire cornea. These strategies of regenerating the corneal epithelium are expected to be clinically approved in the near future for various eye-related concerns, which is expected to drive the growth of the ocular implants market.

Ocular Nanotechnology-based drug delivery

The eye is amongst the most sensitive organs in the body and comprises various defense and barrier mechanisms for its protection from the environment. This leads to the challenge of delivering the drugs to different parts of the eye and the treatment of ocular diseases due to their anatomy, including the blood-retinal barrier (BRB) and blood-aqueous barrier (BAB). The drug delivery system with nanoscale spatial resolution plays an important role in making ocular tissue an important pharmacological target for therapies against disorders.

Some of the major advantages of utilizing the nanotechnology drug delivery system include controlled drug release, promoting absorption, and targeted drug absorption that acts on the target tissues. Nanomaterials can enter the blood capillaries, improve solubility, and reduce drug side effects.

Ocular Implants Market Analysis: Key Findings

By Type: The Functional Implants Segment to Dominate the Market in 2024

Based on type, the ocular implants market is segmented into nonfunctional implants and functional implants. In 2024, the functional implants segment is expected to account for the largest share of 81.7% of the ocular implants market. The use of functional implants in cosmetic reconstructions, the ability of functional implants to support eye movements, the advantages of functional implants such as their increasing availability and considerable cost, and the high prevalence of eye diseases and disorders contribute to the segment’s large share.

By Material: The Inert Materials Segment to Dominate the Market in 2024

Based on material, the ocular implants market is segmented into inert materials and biointegrated materials. The inert materials segment is further segmented into glass, silicone, and methylmethacrylate. In 2024, the inert materials segment is expected to account for the largest share of the ocular implants market. The large market share of this segment can be attributed to the cost-effectiveness of inert materials and the high preference for glass and silicone material-based ocular implants due to their high compatibility and excellent visual appearance.

By Application: The Glaucoma Surgery Segment to Dominate the Market in 2024

Based on application, the ocular implants market is segmented into ocular prosthesis, glaucoma surgery, oculoplasty, drug delivery, and other applications. In 2024, the glaucoma surgery segment is expected to account for the largest share of 32.6% of the ocular implants market. The large market share of this segment can be attributed to the large number of patients affected by glaucoma coupled with increasing cases of glaucoma among the geriatric population and the availability of glaucoma treatment facilities. For instance, according to the October 2022 report of National Glaucoma Research (U.S.), more than 3 million individuals in the U.S. are living with glaucoma, out of which 2.7 million are aged 40 and older. Such instances are expected to support the largest share of the segment.

By End User: The Hospitals Segment to Dominate the Market in 2024

Based on end user, the ocular implants market is segmented into hospitals, ophthalmic clinics, ambulatory surgery centers (ASCs), and other end users. In 2024, the hospitals segment is expected to account for the largest share of the ocular implants market. The large market share of this segment can be attributed to the easy accessibility to hospitals, the high preference towards hospitals from patients as the first choice for diagnosis and therapies, and the availability of advanced instruments in hospitals.

Geographic Analysis

By Region: North America to Dominate the Ocular Implants Market in 2024

In 2024, North America is expected to account for the largest share of 41.8% of the ocular implants market, followed by Europe and Asia-Pacific. In North America, the U.S. is expected to account for the largest share in 2024, mainly due to high healthcare expenditure, growth in the aging population, favorable government policies, and the presence of key players in the region.

However, Asia-Pacific is slated to register the highest growth rate of 6.3% during the forecast period 2024–2031 due to growing economies such as India and China. The growth of the ocular implants market in Asia-Pacific is also driven by the increasing geriatric population, the rising prevalence of eye diseases such as glaucoma, infectious endophthalmitis, and other eye diseases, and increasing healthcare expenditures. Rising cases of eye injuries are likely to increase the demand for ocular implants, driving market growth. For instance, according to the Indian Journal of Ophthalmology, eye injuries constitute approximately 38%–65% of emergency cases in hospitals. Thus, the increasing cases of eye injuries are expected to support the growth of the ocular implants market in the region.

Ocular Implants Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, financials, and key growth strategies adopted in the last 3–4 years. Some of the key players operating in the ocular implants market are Alcon Inc. (Switzerland), Bausch + Lomb Corporation (Canada), Carl Zeiss AG (Germany), Johnson & Johnson Vision Care, Inc. (U.S), STAAR SURGICAL COMPANY (U.S), Morcher GmbH (Germany), HOYA CORPORATION (Japan), GLAUKOS CORPORATION (U.S), AbbVie Inc. (U.S.), and Vivani Medical Inc. (U.S).

Ocular Implants Industry Overview: Latest Developments from Key Industry Players

• In March 2022, Staar Surgical Company (U.S.) received FDA approval for the EVO/EVO+ Visian Implantable Collamer Lens to correct myopia and myopia with astigmatism.
• In August 2023, HumanOptics Holding AG (Germany) launched ARTIFICIALIRIS SELECT, a premium implant in nine predefined color combinations  for urgent and fast patient care.
• In December 2023, Glaukos Corporation (U.S.) received FDA approval for the drug-releasing implant designed for reducing intraocular pressure in individuals with ocular hypertension.
• In March 2020, Allergen, a part of AbbVie Inc. (U.S.), received FDA approval for biodegradable implants for eye conditions, including ocular hypertension and open-angle glaucoma.

Ocular Implants Market Research Summary

Key questions answered in the ocular implants market report: