The global artificial iris market is anticipated to gain the market worth of US$ 16.28 million by 2025, expanding at a CAGR of 6.39% during the forecast period 2019-2025. The natural pupil controls the amount of light that enters the eye and people with pupil or iris abnormalities may experience glare or haloes in sunlight or bright artificial light. Patients may also feel self-conscious about the appearance of their eyes with an abnormal pupil and wish to have them corrected. A solution to these issues has emerged in the form of Artificial Iris. Adoption of the artificial iris may be driven due to the growing number of eye defects, escalating geriatric population and eye defects associated with aging and increasing demand for minimally invasive surgical procedures. However, the lack of reimbursement would act as the major limiting factor for the sale of the technology. As per the United Nations, Population aging refers to the change in the composition of a population such that there is an increase in the proportion of older persons. Growth in certain regions and countries is decelerating whereas population aging is accelerating. In 2017, there were an estimated 962 million people aged 60 or over in the world, comprising 13% of the global population. The population aged 60 or above is growing at a rate of about 3% per year. Rapid aging will occur in other parts of the world as well so that by 2050 all regions of the world except Africa will have nearly a quarter or more of their population at ages 60 and above. The number of older persons in the world is projected to be 1.4 billion in 2030 and 2.1 billion in 2050 could rise to 3.1 billion in 2100. In addition, two comprehensive Scandinavian studies have shown a prevalence of classical aniridia between 1 in 40,000 and 72,000 live births. Moreover, ocular coloboma occurred in 1 in 2077 live births.
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Fiber and fiber-free artificial iris are the two major types of artificial iris available for sale in the market. The two models are identical in every respect except that the fiber model has a polyester meshwork layer embedded in it to provide adequate tear strength to withstand suturing. The fiber-Free model is suitable for sutureless implant techniques or can be sutured. The fiber-embedded device is more robust to tighter sutures and is less likely to induce cheese wiring or tearing under higher suture tensions, though it is stiffer to fold. In 2018, Fibre-free artificial iris dominated the market. The fiber model is composed of an embedded polyester meshwork layer to provide ample tear strength to withstand suturing whereas, the fiber-free model is suitable for sutureless implant techniques or can be sutured. Fiber artificial iris is expected to witness a CAGR growth of 7.01% during the analyzed period. The colour of the eye in humans is determined by the pigmentation of the iris. Several coloured artificial irises are available in the market such as blue, brown, hazel, grey and others. Iris implant surgery can permanently alter the colour of the eyes. This is not a legitimate medical practice as there is a high degree of risk for irreversible vision loss. The surgery was initially developed to repair the iris (or outright replace it) in the event of trauma or illnesses that affect the eye, like cataracts or glaucoma. A side effect of this kind of treatment is a permanent change in eye colour, which led to a demand for the procedure for cosmetic reasons. Therefore, the artificial iris has two major application therapeutics and cosmetic surgery. The brown colour artificial iris segment is expected to generate revenue of US$ 5.65 million by 2025.
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Both adults and pediatrics suffer from the aniridia as it is a congenital, hereditary, bilateral, extreme form of iris hypoplasia that may be associated with other ocular defects. The artificial iris implantation can be done in adults as well as paediatrics. However, adults undergo more of this procedure. It accounted for a market share of 90.1% in 2018 and expected to dominate the market in the upcoming years. Patients can undergo implantation in hospitals, eye centres and other end users. The explicit rise in people suffering from eye-related diseases will positively affect the growth of hospitals and physician centres. Based on the application, the market has been bifurcated into cosmetic and therapeutic. Cosmetic applications are for the patients who are self-conscious about the appearance of their eyes with an abnormal pupil. The therapeutic application of artificial iris is for the patient suffering from traumatic iris defects. In 2018, the Cosmetic application segment generated revenue of US$ 2.12 million. However, the Therapeutics application segment is expected to witness a CAGR growth of 6.28% during the analyzed period.
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For a deep-dive analysis of the overall adoption and penetration of Artificial iris technology, detailed region/country level study was conducted for major region/county including North America (US, Canada, Rest of North America), Europe (Germany, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, India and Rest of Asia-Pacific) and Rest of the World. Due to the increasing awareness of Artificial Iris services and high R&D expenditure on Artificial Iris Europe dominates the global artificial iris market. In 2018, Europe represented as the highest revenue-generating region, 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 analyzed period 2019-2025. Some of the major companies profiled in the global Artificial Iris study include Ophtec, HumanOptics AG, Morcher, ReperNN, VEO Ophthalmics, Spectrum Surgical, Eye-yon Medical and Pixium vision. These industry players are entering into partnerships for the expansion of their reach and proving patients with better technology. Moreover, these companies are spending huge amounts on R&D for the production of state of the art technology.
Global Artificial Iris Market Segmentation
Market Insights, by Material Type
- Fiber Artificial Iris
- Fiber Free Artificial Iris
Market Insights, by Age-group
- Adult Cohorts
Market Insights, by Colour
Market Insights, by Application
- Market Insights, by End User
- Hospital Inpatients
- Eye Surgery Centers
Market Insights, by Region
- North America Artificial Iris market
- Europe Artificial Iris market
- Asia Pacific Artificial Iris market
- Rest of the World Artificial Iris market
Top Company Profiles
- Ophtec BV
- HumanOptics AG
- VEO Ophthalmics
- Spectrum Surgical
- Eye-yon Medical
- Pixium vision