Global Ocular Trauma Devices Market - 2023-2030

Global Ocular Trauma Devices Market - 2023-2030

Global Ocular Trauma Devices market reached US$ XX million in 2022 and is expected to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period 2023-2030.

Ocular trauma is any damage to the eye, eyelid, or covering bone around the eye. Ocular trauma can be nominal or extreme, even resulting in loss of eyesight. Injury to the eye is induced by blunt, sharp, or chemical trauma. Ocular trauma devices are particularly developed and utilized for the diagnosis, treatment, or management of eye injuries or traumas.

Market Dynamics: Drivers & Restraints

Product Launches

The growing cases of eye injuries are expected to boost the global ocular trauma devices market growth during the forecast period. For instance, according to NIH, eye trauma comprises 7% of all physical injuries and 10%–15% of all eye conditions. Globally, there are roughly 1.6 million individuals who are blind because of eye injuries, over 2.3 million are bilaterally visually challenged, and around 1.9 million retain unilateral visual loss. Moreover, according to the Prevent Blindness Organization, almost one million Americans have lost some extent of their sight owing to eye trauma. Over 700,000 Americans injure their eyes at work per year. Also, the World Health Organization's (WHO) Blindness Data Bank notes that roughly 55 million eye injuries happen worldwide yearly resulting in almost 23 million people with at least unilaterally poor vision and around 750,000 hospitalizations. These increasing cases, rising investments, and advances in technology are among the additional factors driving the global market growth during the forecast period.

Stringent Regulatory Authorities

The presence of stringent regulatory authorities like the FDA and EMA authorizing the development and commercialization of ocular trauma devices is among the major factors hampering the global market during the forecast period. Furthermore, the high device cost, product recalls and the lack of skilled professionals is also expected to slow the global market growth during the forecast period.

Segment Analysis

The global ocular trauma devices market is segmented based on device type, indication, end user and region.

Implants Type Ocular Trauma Devices Segment is Expected to Dominate Market

Owing to the increasing implant product approvals the segment is expected to dominate the global market during the forecast period. For instance, Roche, a healthcare corporation presenting diagnostic and pharmaceutical developments, obtained the Food and Drug Association in the U.S. authorization for its ocular implants to treat chronic diseases causing blurred vision in October 2021. Moreover, in March 2023, Pixium Vision was awarded the FDA breakthrough device designation to the Prima System, an implant developed to partly correct vision in individuals with atrophic dry age-related macular degeneration.

Geographical Analysis

North America is Expected to Dominate the Global Market

Owing to the increasing market developments and growing cases of ocular trauma in North America the region is expected to dominate the global market during the forecast period. For instance, in June 2022, EyePoint Pharmaceuticals, Inc., pSivida, a pharmaceutical corporation, obtained Chinese regulatory body clearance for an implant to treat a condition of eye inflammation, becoming the foremost corporation to obtain approval in the country founded completely on real-world data. Moreover, according to the American Academy of Ophthalmology, every year an estimated 2.4 million eye injuries occur in the United States. Also, according to the U.S. Bureau of Labor Statistics, approximately 20,000 eye injuries happen in the workplace every year and every day roughly 2,000 U.S. workers support a job-related eye injury that needs medical therapy.

COVID-19 Impact Analysis

The COVID-19 pandemic had a negative impact on the market, as only urgent referrals from primary or secondary health institutions, outpatient emergencies, and inpatients whose medical problems needed keeping them hospitalized were handled by hospitals. Elective eye procedures and clinics were postponed due to the imposed lockdowns. Although this affected the market during the pandemic, the loss is expected to be offset by an increase in sales post pandemic period.

Market Segmentation

By Device Type
• Implants
• Instruments
• Disposables

By Indication
• Blunt Trauma
• Chemical Trauma
• Sharp Trauma

By End User
• Hospitals
• Specialty Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In March 2023, NuVision, a Nottingham-based corporation with a product that quickens up the recovery of eye trauma raised an additional £1.1m investment.
• In April 2022, CorneaGen, introduced the EndoSerter-PL. This new and only FDA-approved, single-use graft insertion device is pre-loaded with expertly processed tissue to help streamline DSEK surgeries.
• In January 2022, Alcon, an American Swiss medical device corporation that specializes in eye care products, acquired Ivantis, a firm that presented a glaucoma surgery device, the Hydrus Microstent.

Competitive Landscape

The major global players in the market include Bausch & Lomb, Inc., Carl Zeiss AG, Alcon, Johnson & Johnson Vision, CooperVision, EssilorLuxottica, Hoya Corporation, Glaukos Corporation, IRIDEX Corporation and Leica Microsystems GmbH

Why Purchase the Report?
• To visualize the global ocular trauma devices market segmentation based on device type, indication, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of ocular trauma devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global ocular trauma devices market report would provide approximately 61 tables, 57 figures and 184 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies