Exponential rise in the use of medical devices on account of continued advances in design and superior operative care has led to increase in the use of artificial cornea or keratoprosthesis in the recent years. The keratoprosthesis is intended to replace the damaged corneal tissue and restore vision of the patients with bilateral corneal disease. Corneal transplantation is one of the common treatment to correct several corneal opacity which involves tissue from human donor. However, the treatment fails in some cases, leading to development of keratoprosthesis which is used when corneal transplantation is not an option. In addition, lack of availability of human cornea donor has influenced the adoption of artificial cornea, thereby fuelling growth of the keratoprosthesis market.
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With governments across the globe heavily investing in healthcare infrastructure, the keratoprosthesis market is likely to witness a significant growth in the near future. Increasing incidences of corneal blindness along with patients who have failed human corneal transplantation may create potential growth prospects of the keratoprosthesis market. High availability of qualitative eye care treatment and increasing number of skilled medical professionals are expected to be important factors driving the keratoprosthesis market. Further, improvement in designs and effectiveness of the device will possibly guide the future of keratoprosthesis market.
Keratoprosthesis is a surgical procedure which replaces a diseased cornea with an artificial cornea. Infection, tissue necrosis, chronic inflammation and glaucoma are some of the post-operative complications observed after keratoprosthesis. Devices used in keratoprosthesis like keratoprosthetic comprises of a central optic held in a cylindrical frame. Keratoprosthesis surgical procedure replaces the section of cornea along with being placed in the surrounding tissue. A variety of biologic materials are being considered for improving the prosthetic corneal implants. In January 1992, FDA approved Boston KPro for patients suffering with severe corneal opacity. Boston KPro is further segmented into Type I and Type II. Boston KPro Type I is used in eyes when blink mechanism, eyelids, and tear film are intact. Boston KPro Type II is used with severe dry eyes.
According to the Eye Bank Association of America, there were around 23,000 endothelial keratoplasty cases in the United States in 2012. To avoid blindness and restore the damaged eye corneal surgery is the most adopted choice.
Keratoprosthesis Market: Drivers and Restraints
Rising geriatric population coupled with increasing incidence of eye diseases worldwide is expected to be the prime factor driving the growth of global keratoprosthesis market. Around 10 million people in the world suffering from corneal blindness. Therefore, rising incidences of corneal blindness are the primary factor driving the growth of the global keratoprosthesis market. Moreover, rising incidences of trauma cases are increasing the chances of eye injury which will further contribute in driving the growth of keratoprosthesis market. However, lack of availability of human cornea donor is expected to drive the growth of keratoprosthesis market. Furthermore, keratoprosthesis is a costly surgery and thus the adoption of keratoprosthesis is quite low in developing countries which is expected to deter the growth of global keratoprosthesis market over the forecast period. The cost of the Boston KPro rose from $3,000 to $5,000 in 2010. Factors responsible for increasing cost are larger research expenditures and rising regulatory costs. Reimbursement by Medicaid, Medicare and other insurers for keratoprosthesis surgery is largely available.
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Keratoprosthesis Market: Overview
The keratoprosthesis market is expected to grow exponentially over the forecast period due to increasing incidence of corneal infection. Increasing visual disability due to the cloudy cornea for working people has increased the demand for keratoprosthesis surgeries. Based on product types, the global keratoprosthesis market is segmented into Boston Keratoprosthesis, alphaCor, and others. Amongst them, Boston Keratoprosthesis is the most widely used treatment option for corneal disease.
Keratoprosthesis Market: Regional Outlook
Geographically, global keratoprosthesis market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding China and Japan, China, Japan, Middle East and Africa. North America is expected to dominate the keratoprosthesis market in terms of revenue share followed by Western Europe. Asia Pacific is expected to experience delayed growth due to the lack of skilled physicians. However, Asia Pacific is expected to be the most lucrative market for keratoprosthesis with maximum CAGR due to growing penetration rate of keratoprosthesis surgeries in the emerging markets. Moreover, increasing number of healthcare practitioners and continuous improvements in the healthcare infrastructure is expected to enable robust industry growth in APAC region. The Middle East and Africa are expected to witness slow and significant growth over the forecast period.
Keratoprosthesis Market: Key Players
Some of the players identified in global keratoprosthesis market include F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Pfizer, Inc., Bayer AG, Bausch & Lomb Incorporated and others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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