The rising global incidences of eye diseases such as cataract, glaucoma and corneal transplant, the increasing geriatric population, technological advancements, and rising adoption of ophthalmic knives in surgeries all over the world are expected to drive the market in the forecast period.
According to the current analysis of Reports and Data, the ophthalmic knives market was valued at USD 1.56 billion in 2019 and is expected to reach USD 2.33 billion by the year 2027, at a CAGR of 5.1%. The market is extensively driven by increasing incidences of eye-related diseases in developed as well as developing countries. For instance, nearly 2 billion people had vision impairment across the world, either moderate or severe, due to some eye diseases in 2019, according to the World Health Organization (WHO).
Around 123.7 million people are affected by refractive error, 62.5 million people are affected by cataracts, 6.9 million by glaucoma, 4.2 million by corneal opacities, 3 million by diabetic retinopathy and 2 million by trachoma. The increasing acceptance of affordable and disposable knives and increasing adoption of ophthalmic knives in minimally invasive surgeries for the treatment of disorders like cataract and glaucoma are estimated to boost the market growth. As visual damage and blindness develop as critical public health problem, a number of healthcare professionals and ophthalmologists are using ophthalmic knives so as to improve the efficacy and reliability of the instruments and the procedure. The geriatric population, which is prone to eye disorders due to aging effects, is also driving the sector widely. The rising awareness about eye diseases could be another expected factor that would propel the demand. However, the precision and exquisite training required for the use of ophthalmic knives is expected to hinder the growth of ophthalmic knives.
Key companies profiled in the report include
Alcon, Inc., Topcon Corporation, Bausch and Lomb Incorporated, Seiko Optical Products Co., Ziemer Group, Sidapharm, Hoya Corporation, Nidek Co., DGH Technology, and Alltion.
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The report is an investigative study that determines market growth and market scope on the basis of market trends, consumer behavior shifts, consumption and production patterns, product portfolio offered by the market, growth rate, drivers and constraints, financial positions, and existing challenges and limitations of the Ophthalmic Knives market.
The report discusses in detail the global production capacity, demand and supply ratio, market dynamics, and comprehensive analysis of the competitive landscape. It provides an industry-wide analysis of the market share of each players along with their business portfolio, production and manufacturing capacity, product portfolio, business expansion plans, financial standing, and strategic alliances such as mergers and acquisitions, joint ventures, and collaborations, among others.
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The regional bifurcation of the market analyzes key market segments such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report discusses in detail the market growth, market size, revenue growth, market share, production and consumption, demand and supply, current and emerging trends, and technological developments in each region.
The key geographical regions analyzed in the market report are:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Ophthalmic Knives Market Segmentation based on Types:
Design Outlook (Revenue in Million USD; 2017–2027)
- Crescent knives
- MVR knives
- Slit knives
- Stab knives
- Straight knives
- Others
Type Outlook (Revenue in Million USD; 2017–2027)
- Reusable
- Disposable
Material Outlook (Revenue in Million USD; 2017–2027)
- Stainless Steel
- Diamond
- Others
Application Outlook (Revenue in Million USD; 2017–2027)
- Endothelial Keratoplasty
- Cataract
- Glaucoma
- Others
End-use Outlook (Revenue in Million USD; 2017–2027)
- Hospitals
- Clinics
- Ambulatory surgery centers
- Others
Further key findings from the report suggest
- Various new types of blades are available in the field manufactured by leading companies. For instance, diamond knives from B. Braun which are commonly used in multiple eye surgical procedures. The product have various types of blades in different geometries which are significantly made out of diamond for fine, precision cuts during ophthalmic surgeries
- To enhance the efficiency in product industry operators are developing advanced and efficient products. For instance, in November 2019, Surgical Specialties Corporation’s Caliber Ophthalmic division expanded its product line of phaco incision knives with the launch of Sharpoint Edge Clear Control 3D (CC3D) Plus
- The straight knives segment is expected to reach USD 925.53 Million by the year 2027, showing significant growth during the forecast period
- Based on applications cataract application segment is estimated to grow significantly. Increasing prevalence of cataract and rising geriatric population are estimated to boom the market growth
- Regionally, North America consumed the largest share in the market. The rising application of disposable knives, growing target population, and the presence of major key players in the region is expected to drive the market during the forecast period.
- Moreover, Asia Pacific is expected to be the emerging opportunity for the market. Increasing medical tourism, globalization and rising FDI in major countries like India, Malaysia, Thailand and Tibet are estimated to boom the market growth in the region.
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