Eye Bank Market to Grow with Impressive CAGR During the Forecast Period
Increasing eye donation is driving the growth in the
global eye bank market in the forecast period 2022-2026.
According to TechSci Research report, “Eye Bank
Market - Global Industry Size, Share, Trends, Competition, Opportunity and
Forecast, 2016-2026”, the global eye bank market has a potential
to project an impressive CAGR in the forecast period, 2022-2026, on the account
of increasing demand for the eye surgeries and corneal transplantations. The
rapidly increasing concerns toward cross contamination of the organ during
procurement, or storage, is driving the growth of the advanced eye banks, thus
driving the growth of the global eye bank market in the upcoming five years.
Also, increasing instances of corneal transplantation is supporting the
growth of the global eye bank market in the next five years. Moreover,
increasing research and education purposes related to eyes, and ophthalmology
is further substantiating the growth of the global eye bank market in the
future five years.
Increased awareness among the population regarding organ donations, and
influences from celebrity actions, is further aiding the growth of the global
eye bank market in the forecast years, until 2026. Demand for maintaining the
quality of the cornea for future corneal transplantation is expected to aid the
robust growth of the global eye bank market in the forecast period.
Furthermore, increasing instances of diabetes, hypertension, asthma, and
severe cases of communicable diseases may hinder the future growth of the
global eye bank market in the five consecutive years going forth, since
patients suffering from these diseases are debarred from making eye donations.
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The global eye bank market is segmented on the basis of ownership,
structure, competitional landscape, and regional distribution. Based on
ownership, the market is further fragmented into hospitals, non-profit
organizations, and private organizations. Hospitals are anticipated to hold the
largest revenue shares of the market and dominate the market segment in future
on the grounds of rapidly increasing hospital owned organ banks.
Moreover, financial support and technological aids for the maintenance
and storage of the procured organ is further driving the growth of the global
eye bank market in the upcoming five years. Non-profit organizations are also
expected to register significant growth in the future five years on the grounds
of their dedications toward creating awareness.
NGOs put extra effort and with their financial aids and government
support, they are providing eyecare facilities in the developing countries and
thus aiding the growth of the global eye bank market in the forecast years
until 2026.
On the basis of structure, the market is bifurcated into eye bank only
functions, tissue and eye bank functions, recovery centers, processing centers,
distribution centers, and multicenter eye banks. Multicenter eye banks are
expected to register the fastest growing CAGR value in the upcoming five years
since their numbers are multiplying at a rapid rate. Moreover, localized
centers at multiple locations are aiding the revenue generation and thus
supporting the global eye bank market in the next five years.
Some of the market players dominating the global market are:
·
Central Eye Bank of Iran (CEBI)
·
Ramayamma International Eye Bank
·
Aster DM Healthcare Limited
·
Illinois Eye Bank
·
SightLife
·
Eye Bank of Ethiopia
·
All India Institute of Medical Sciences
·
Sheikh Khalifa Medical City (SKMC)
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“Asia Pacific is anticipated
to hold the dominating position for the future growth of the market due to the
increasing number of eye banks in the region. India is the largest eye bank
populated country in the world with more than 740 institutional eye banks in
the country. The eye banks in the country are not only functional for their own
citizens but also for neighboring countries like Nepal, Pakistan, Malaysia,
Thailand, and Kenya. Increasing awareness about the eye donations and favorable
schemes are also aiding the growth of the global eye bank market in the future
five years. North America is a close competition, registering significant
growth of the market in the next five years. The market growth can be
attributed to well-established healthcare industry in the countries like United
States and Canada. The United States holds the second largest market with about
250 institutional eye banks in the country and thus supports the growth of the
global eye bank market in upcoming five years,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Eye Bank Market - Global
Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2016-2026 Segmented By Ownership (Hospitals, Non-Profit Organizations,
Private Organizations), By Structure (Eye Bank Only Functions, Tissue and Eye
Bank Functions, Recovery Centers, Processing Centers, Distribution Centers,
Multicenter Eye Banks), By Region”,
has evaluated the future growth potential of global eye bank and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global eye bank market.
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