Artificial Iris Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017-2022 and Forecast 2022-2028

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Artificial Iris Market: By Material (Fiber and Fiber Free), by Age Group (Adult and Pediatric), By Color (Blue, Brown, and Others), By Application (Therapeutic and Cosmetic), By End-user (Hospitals, Specialty Clinics, and Others), and Geography

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Report

Description

Artificial Iris Market size is valued at USD 14.3 million in 2021 and is poised to grow at a significant CAGR of 9.7% over 2022–2028. The natural pupil regulates how much light enters the eye, and those with abnormalities of the pupil or iris may see glare or haloes in intense natural or artificial light. Patients may also want to have their abnormally dilated pupils treated because they are self-conscious about their appearance. Artificial Iris has evolved as a solution to these problems. The rise in the geriatric population, age-related eye abnormalities, and rising demand for minimally invasive surgical treatments may all be factors driving the adoption of the artificial iris. The United Nations defines population aging as a demographic shift resulting in a higher proportion of older adults. While population aging is speeding up, growth is slowing in some regions and nations. Around 962 million people, or 13% of the world’s population, were predicted to be 60 or older as of 2017. An estimated 3% of the population turns 60 or older each year. Other sections of the world will also experience rapid aging, and by 2050, every continent outside Africa will have a population of at least 25% older than 60. Furthermore, according to estimates, there will be 1.4 billion older people globally by 2030, 2.1 billion by 2050, and 3.1 billion by 2100. Additionally, according to two extensive Scandinavian investigations, between 1 in 40,000 and 72,000 live newborns are found to have classical aniridia. Moreover, 1 in 2077 live births resulted in ocular coloboma. As a result, the market for artificial iris will continue to rise at a constant rate due to the expanding worldwide population, primarily composed of geriatric people who are more prone to eye illnesses. It is therefore anticipated that it will increase competition in the artificial iris sector.

Recent Market Developments:

In February 2020, HumanOptics AG received health insurance approval for its artificial iris Customflex Artificial Iris in the United States.

Artificial Iris Market

MARKET SUMMARY
-
9.7%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 9.7%
  • Largest Market– Asia Pacific
  • Fastest Growing Market– North America

Artificial Iris Market

  • The report on global artificial iris market gives historical, current and future market sizes (US$ Mn) on the basis of  type, and geography
  • The artificial iris market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
Key Players
  • HumanOptics AG
  • Morcher GmbH
  • Ophtec BV
  • EyeYon Medical
  • Spectrum Surgical
Artificial Iris Market Dynamics

Increased prevalence of eye conditions such as congenital aniridia, aesthetic concerns, and traumatic iris loss is the primary driver of the worldwide artificial iris market’s expansion. According to an NCBI article, aniridia is found in around 1.8/100,000 live births annually, with a global frequency ranging from 1:40,000 to 1:100,000. The primary driver of the worldwide artificial iris market is the increase in clinical trials targeted at developing cutting-edge technologies to treat various eye problems. The worldwide artificial iris market is also being driven by recent regulatory approval for artificial iris implants and growing concerns about improving the cosmetic look of the eye. On the other hand, due to legal limitations for its use, the artificial iris is still a novel concept and is only authorized for use in a few nations. This aspect will likely constrain the artificial iris market. The expansion of the global artificial iris market is also hampered by side effects related to implant procedures.


North-America Got Significant Share

Artificial Iris Market

The artificial iris market in North America is likely to hold a significant revenue share in 2021, and in the following years, it is predicted to increase rapidly. The U.S. FDA's approval of CustomFlex, the first artificial iris in the world, the rise in the prevalence of eye abnormalities, and the trend toward minimally invasive eye surgery are all factors that will contribute to the market in the region experiencing considerable growth over the coming years. Whereas, due to a growth in the number of older adults and the availability of more healthcare facilities, Asia Pacific is anticipated to be a very profitable market during the projection period.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The artificial iris market report provides granular level information about the market size, regional market share, historic market (2017-2021), and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Artificial Iris Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The artificial iris market is projected to expand at a CAGR of 9.7% during the forecast period

HumanOptics AG, Morcher GmbH, Ophtec BV, EyeYon Medical, Spectrum Surgical

North America is the fastest-growing region for artificial iris market


Report

Company Profile

  • HumanOptics AG
  • Morcher GmbH
  • Ophtec BV
  • EyeYon Medical
  • Spectrum Surgical
  • Reper-NN Ltd.
  • VEO Ophthalmics, LLC.
  • Pixium Vision

Description

Artificial Iris Market size is valued at USD 14.3 million in 2021 and is poised to grow at a significant CAGR of 9.7% over 2022–2028. The natural pupil regulates how much light enters the eye, and those with abnormalities of the pupil or iris may see glare or haloes in intense natural or artificial light. Patients may also want to have their abnormally dilated pupils treated because they are self-conscious about their appearance. Artificial Iris has evolved as a solution to these problems. The rise in the geriatric population, age-related eye abnormalities, and rising demand for minimally invasive surgical treatments may all be factors driving the adoption of the artificial iris. The United Nations defines population aging as a demographic shift resulting in a higher proportion of older adults. While population aging is speeding up, growth is slowing in some regions and nations. Around 962 million people, or 13% of the world’s population, were predicted to be 60 or older as of 2017. An estimated 3% of the population turns 60 or older each year. Other sections of the world will also experience rapid aging, and by 2050, every continent outside Africa will have a population of at least 25% older than 60. Furthermore, according to estimates, there will be 1.4 billion older people globally by 2030, 2.1 billion by 2050, and 3.1 billion by 2100. Additionally, according to two extensive Scandinavian investigations, between 1 in 40,000 and 72,000 live newborns are found to have classical aniridia. Moreover, 1 in 2077 live births resulted in ocular coloboma. As a result, the market for artificial iris will continue to rise at a constant rate due to the expanding worldwide population, primarily composed of geriatric people who are more prone to eye illnesses. It is therefore anticipated that it will increase competition in the artificial iris sector.

Recent Market Developments:

In February 2020, HumanOptics AG received health insurance approval for its artificial iris Customflex Artificial Iris in the United States.

ASIA PACIFIC OFFICE

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EUROPE OFFICE

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