Fact.MR, a global research and consulting firm, in the updated edition of the report, opines artificial eyes market to expand at a robust rate in 2021 & beyond.
Fact.MR, a global research and consulting firm, in the updated edition of the report, opines artificial eyes market to expand at a robust rate in 2021 & beyond. Growth is primarily underpinned due to growing number of individuals suffering from partial or complete blindness and increasing aging population. Increasing medical tourism for affordable artificial eye implantation procedures and technological developments in relation to progressions in the artificial eyes are key aspects that will fuel industry growth.
“Market players are focusing on developing tailor-made prosthetic eyes which will improve the confidence and enhances the psychological wellness of patients. Thus, the growing demand for personalized ocular prosthetics is bolstering the overall growth of the artificial eye industry.” states Fact.MR.
Increase the Prevalence of Ophthalmic Diseases
In recent years, the prevalence of ophthalmic ailments has been rising, which is fueling the demand for ocular prosthesis all over the globe. A surge in incidences of congenital eye diseases, severe injuries, along with other severe eye ailments that ensue in loss of eyes are snowballing the demand for artificial eyes, which eventually drives the industry worldwide.
Furthermore, several market players are focusing on offering solutions for patient’s psychological well-being experiencing from above mentioned conditions with artificial eyes.
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Moulded Prosthesis will Increase the Demand for Artificial Eyes
Moulded prosthesis is likely to continue to steer the demand for artificial eyed in 2021 and beyond. This is mainly due to its extensive adoption, combines the best attainable fitting of an artificial eye, in addition to the most natural lifelike look.
On the other hand, the cosmetic shell is also gaining traction across the globe. This type of artificial eye is of a thinner construction and can be worn over a present eye concealing any disfigurement.
How Huge is the US Artificial Eyes Industry?
The US is projected to remain lucrative owing to product innovations, the existence of leading players, higher acceptance of artificial eye surgeries and favorable reimbursement policies. Market players are aiming developed markets because of increasing incidence of eye ailments.
The UK and Germany are the next most lucrative regions for artificial eyes as a result of development activities, government support, and increased healthcare expenditure per person.
Japan, China & India are further anticipated to expand at the highest growth pace as a result of a huge patient pool, and product awareness because of medical conferences.
Innovative Product Launch, Mergers & Acquisitions Remain Key Focus Areas: Fact.MR Survey
With the existence of a substantial number of companies artificial eyes market appears to be highly fragmented. Fact.MR’s survey with thought leaders revealed that market players are focusing on innovative product launch, mergers & acquisitions and partnerships to expand their business product portfolio in 2021 and beyond. The updated edition of the report provides comprehensive coverage of the projected to remain the key strategies of market players. Some of the players profiled in the report are Midwest Eye Laboratories, Inc., Advanced Artificial Eyes, Erickson’s Eyes, Nikolaus Kerbl, F.AD. MÜLLER SÖHNE OHG, along with others. The updated edition also offers a detailed analysis of the COVID-19 impact on this market.
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