Global Ophthalmic Knives Market is expected to foresee significant growth. APAC to lead the growth!
- Vikas Kumar
- January 14, 2023
- HEALTHCARE, NEWS
- Asia Ophthalmic Knives Market, Europe Ophthalmic Knives Market, Middle east Ophthalmic Knives Market, Ophthalmic Knives, Ophthalmic Knives Market, Ophthalmic Knives Market analysis, Ophthalmic Knives Market forecast, Ophthalmic Knives Market growth, Ophthalmic Knives Market share, Ophthalmic Knives Market size, Ophthalmic Knives Market trend, US Ophthalmic Knives Market
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Ophthalmic knives are thin blades made for making deep, precise cuts during ophthalmic procedures in order to minimize the surgical incision. These have a low tolerance and are produced utilizing specific alloys. Ophthalmic surgical knives are extremely complex, specialized instruments with sharp blades that are designed to reduce harm from rough handling. The increasing incidences of ophthalmic diseases such as glaucoma and cataract are majorly driving the growth of the market. For instance, as per the data of Bright Focus Foundation, more than 80 million people are living with glaucoma worldwide in the year 2022 and this number is expected to reach 111 Million by the year 2040.
The Ophthalmic Knives Market is expected to grow at a steady rate of around 5% during the forecast period (2022-2028) owing to the increasing cases of ophthalmic diseases, the adoption of affordable and disposable knives over reusable knives, and increasing product launch. Major companies in the market are collaborating and entering into partnerships for expanding their ophthalmic division, which is attributing to the growth of the ophthalmic knives market. For instance, in November 2022, Alcon Acquire Aerie Pharmaceuticals, Inc., with an aim of strengthening the ophthalmic pharmaceutical business.
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Based on Design, the market is segmented into Straight Knives, Crescent Knives, Slit Knives, MVR Knives, Stab Knives, and Others. Straight Knives category is to witness higher CAGR during the forecast period owing to its increasing adoption rate in ophthalmic surgical procedures along with its benefit related to the single-handed blade retraction.
On the basis of Product, the market is categorized into reusable and single-use. The disposable ophthalmic knives segment is expected to witness the fastest CAGR during the forecast period owing to increasing adoption of reusable products. By using disposable surgical knives, the risk of cross-infection is reduced. Disposable knives are primarily used in hospitals and larger clinics that place bulk orders due to their affordability. Additionally, because they are affordable and give beginners and students the opportunity to try a variety of designs, sizes, and forms, disposable or single-use ophthalmic knives are suitable for these users.
Based on End Use, the Ophthalmic Knives market is classified into Hospitals, Ambulatory Surgery Centers, and Clinics. The Clinic segment is expected to witness significant CAGR during the forecasted year due to increasing number of ophthalmologists and optometrists offering individual clinical services. Additionally, it is anticipated that the participation of charitable organizations like Rotary International and rising awareness of eye problems will accelerate the segment’s growth.
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For a better understanding of the market adoption of the ophthalmic knives industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is dominating the ophthalmic knives market, which is mainly due to the continuously increasing cases of ophthalmic diseases such as glaucoma and cataract. For instance, as per the data of Bright Future Foundation, more than 3 Million Americans are living with glaucoma in year 2022, among which 2.7 Million cases are related to open-angle glaucoma. Further, Glaucoma costs the U.S. economy US$2.86 Billion every year in direct costs and productivity losses. Furthermore, some other factors such as the presence of major market players in the region along with the other driving factors including favorable reimbursement scenarios, and rising trends of disposable knives are some of the factors expected to play an important role in regional market dynamics.
Some of the major players operating in the market include Alcon, Inc., Hoya Corporation, Topcon Corporation, HAI Laboratories, Inc., Bausch + Lomb Incorporated, MANI, INC., Seiko Optical Products Co., Ltd., Nidek Co., Ltd., Ziemer Ophthalmic Systems AG, and Alltion (Wuzhou) Co., Ltd.
Global Ophthalmic Knives Market Segmentation
Market Insight, by Design
• Straight Knives
• Crescent Knives
• Slit Knives
• MVR Knives
• Stab Knives
• Others
Market Insight, by Product
- Reusable
- Single-Use
Market Insight, by End Use
• Hospitals
• Ambulatory Surgery Centers
• Clinics
Market Insight, by Region
- North America
- US
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Alcon, Inc.
- Hoya Corporation
- Topcon Corporation
- HAI Laboratories, Inc.
- Bausch + Lomb Incorporated
- MANI, INC.
- Seiko Optical Products Co., Ltd.
- Nidek Co., Ltd.
- Ziemer Ophthalmic Systems AG
- Alltion (Wuzhou) Co., Ltd.
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