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.
The COVID-19 impact:
The pandemic outbreak of SARS-CoV-2 has impacted globally with more than 15 million cases. To reduce the impact of infection the restricted lock down and prohibited international trade have impacted negatively the market growth of ophthalmic knives for shorter span of time. Major developed nations like the U.S, U.K are prominently dependent on raw materials needed for manufacturing of ophthalmic knives. Moreover, the strict lockdown led to temporary shutdown of manufacturing plant to follow the physical distancing policy resulted into insufficient inventory of ophthalmic knives. In addition, the postponed or cancelled surgeries in mean time have obstructed the market growth furthermore. However, slow recovery of the market is estimated to bring stability in the market.
Top 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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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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The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, RD activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.
The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Ophthalmic Knives market in these key regions.
Country-wise regional analysis covers:
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East Africa
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Additionally, the report consists a detailed analysis of the segmentation of the Ophthalmic Knives market based on product types and end-use/application offered in the Ophthalmic Knives market.
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
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