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.
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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.
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.
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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
- 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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