Market Trends of Eye Socket Implant Industry
This section covers the major market trends shaping the Eye Socket Implant Market according to our research experts:
Glaucoma Segment is Expected to Hold a Major Market Share in the Eye Socket Implant Market
• Glaucoma is expected to be a dominant segment in the eye socket implant market due to the higher prevalence and aging population. According to the World Health Organization, in 2019, approximately 6.9 million people worldwide were diagnosed with glaucoma.
• It is one of the major reasons for preventable vision impairment. Approximately 1 billion people suffer from blindness due to unaddressed glaucoma. Also, diabetic people are at high risk of causing glaucoma. According to the Centre for Disease Control and Prevention, in 2019, around 7.1 % of the population diagnosed with diabetes aged 45 years and above had glaucoma too.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the global eye socket implant market due to the growing aging population and associated eye disorders. According to Centre for Disease Control and Prevention, in 2019, the population aged over 45 years, suffering from diabetes, also suffered from cataracts with a prevalence of around 32.2%, 8.6% with diabetic retinopathy and 4.3% had macular degeneration in the United States. Furthermore, increasing product approvals related to eye socket implants is expected to fuel market growth. For instance, in 2019, Alcon received a US FDA (Food & Drug Administration) approval for AcrySof IQ PanOptix Trifocal IOL, a trifocal lens for intermediate and distance vision.
