Artificial Iris market is anticipated to reach the market valuation of US$ 16.28 million by 2025

Author : univdatos
Publish Date : 2021-10-16 07:43:41
Artificial Iris market is anticipated to reach the market valuation of US$ 16.28 million by 2025

Global Artificial Iris market is anticipated to reach the market valuation of US$ 16.28 million by 2025 expanding at a reasonable CAGR of 6.39% in the course of the forecast period (2019-2025) from US$ 10.61 million in 2019. Iris acts as a diaphragm and controls the size of the pupil, which in turn is responsible for the amount of light that enters into an eye. It also determines the color of the eye. Any damage to the iris can lead to iris defects such as glare and photophobia. Iris defects can be acquired or congenital. Aniridia, coloboma, and heterochromia are some of the iris defects. These defects may also hamper vision and hamper and quality of life.

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As the number of iris defect are escalating the adoption of artificial iris implants are increasing. The escalation in the geriatric population and eye defects associated with aging and also impacting the market. In February 2020, HumanOptics AG has received health insurance approval for its artificial iris Customflex Artificial Iris in the United States. Approval by the state Centers for Medicare and Medicaid Services (CMS) as a reimbursable medical product ensures that costs are covered by health insurance and is an important prerequisite for patients to decide in favor of treatment, according to a company news release.

Iris defects can be corrected using surgical procedures such as suture closure but some of them require artificial iris implants. Fiber and Fiber-free are the two materials from which an artificial iris can be derived. Fiber model is composed of an embedded polyester meshwork layer. This meshwork provides it with ample tear strength to withstand suturing whereas, the fiber-free model is apt for sutureless implant techniques. Both adults and pediatrics can undergo the iris implant procedure however, adult cohorts undergo more than 90% of the procedure.
Artificial iris has two main applications namely therapeutic and cosmetic. Therapeutic surgery is a corrective procedure to implant in the patients suffering from aniridia or coloboma among others. Whereas, people also undergo a cosmetic procedure to change their eye color. Artificial iris is available in numerous colors such as blue, brown, grey, and hazel among others to perfectly match the color of both the iris. Blue color dominated the market as it is highly preferred while undergoing cosmetic procedures. Implantation can be performed in hospitals and eye surgery centers. Hospitals dominated the market as it is one of the major institutions that offer services such as prosthetic implantations and surgeries.

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A regional-level study was also conducted regarding the market penetration of artificial iris. The regions and countries covered included North America (the US, Canada and Rest of North America), Europe (Germany, Netherlands and Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World. In 2018, Europe generated the highest revenue accounting for 41% share, followed by North America and Asia-Pacific. Asia-Pacific is expected to witness a CAGR growth of 6.96% during the forecast.

The artificial iris market is niche and still has a lot of potential for market expansion. Some of the major companies dealing in artificial Iris includes are Ophtec, HumanOptics AG, Morcher, ReperNN, VEO Ophthalmics, Spectrum Surgical, Eye-yon Medical, and Pixium Vision. These players are consistently aiming on expanding their product portfolio by numerous product launches and innovations. They are also targeting the market through collaborations thereby strengthening their market position which further offers them growth opportunities as well as the expansion of product innovation and expansion around the globe.

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability.

The Market report answers the following questions:

What is the aim of the report?
• The market report presents the estimated market size Artificial Iris market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?
• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Playes
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and

  • the manufactured products is incorporated in the report.
    • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
    • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
    What is the key information extracted from the report?
    • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
    • The report offers the present scenario and future growth prospects Market in various geographical regions.
    • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
    • The SWOT analysis is conducted along with Porter's Five Force analysis.
    • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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    Global Artificial Iris Market Segmentation
    Market Insight, by Material Type
    • Fiber
    • Fiber-free
    Market Insight, by Color
    • Blue
    • Brown
    • Other

    Market Insight, by Application
    • Cosmetic
    • Therapeutic
    Market Insight, by Age Group
    • Pediatric
    • Adults

    Market Insight, by End-User
    • Hospitals
    • Eye Surgery Centers
    • Other Eye Care Facility
    Market Insight, by Region
    • North America
    • United States
    • Canada
    • Rest of North America
    • Europe
    • Germany
    • Netherlands
    • Rest of Europe
    • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
    • Rest of World

    Top Company Profiles
    • Morcher
    • Ophtec
    • HumanOptics
    • Reper NN
    • VEO Ophthalmics
    • Spectrum Surgical
    • EyeYon Medical
    • Pixium Vision

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