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Oct 6, 2020 2:50 PM ET

Global Ophthalmic Sutures Market Set for Rapid Growth, to reach Value around USD 470.6 Million by 2025

iCrowd Newswire - Oct 6, 2020

Zion Market Research has published a new report titled “Ophthalmic Sutures Market by Product (Absorbable Sutures, and Non-Absorbable Sutures), by Type (Natural Sutures, and Synthetic Sutures), by Application (Corneal Transplantation Surgery, Cataract Surgery, Vitrectomy Surgery, Iridectomy Surgery, Oculoplastic Surgery, and Others), and by End User (Hospitals, Ambulatory Surgical Centers, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for ophthalmic sutures market was valued at approximately USD 314.0 million in 2018, and is expected to generate revenue of USD 470.6 million by end of 2025, growing at a CAGR of 6.0% between 2019 and 2025.

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Hemostats adhesives, wound closure strips, staples, tissue sealants, and sutures are some of the most commonly used wound closure products of which sutures are generic low-cost products. Non-absorbable and absorbable sutures are regularly used in ophthalmic surgeries. Absorbable sutures have various advantages over the non-absorbable sutures as these do not require repeat surgeries for removal and also get absorbed in the human body easily. Rising incidences of eye diseases in under developed as well as developed countries has positively impacted the market for ophthalmic sutures.

Ophthalmic Sutures Market

A shift in demography has led to increase in the incidence rate of different ophthalmic or ocular conditions that includes diabetic retinopathy, age-related macular degeneration, glaucoma, and cataract. As per the stats by the American Academy of Ophthalmology, more than 24 million people above the age of 40 years suffer from cataract. Thus large number of people suffers from eye related disorders that opt for surgical procedures which help them in improving their vision, thus propelling the market growth for ophthalmic sutures globally.

The ophthalmic sutures market is segmented based on type, product, end user, application, and regions. On the basis of product the market is segmented into non absorbable and absorbable sutures. The segment for absorbable sutures held major share of the market as these sutures have the ability to break down and absorb harmlessly within the body over a certain period of time without intervening in the normal functioning of the body. The market on basis of type is bifurcated into synthetic sutures, and natural sutures. The segment for synthetic sutures held dominant share owing to its capability to degrade by hydrolysis causing less inflammation at the wound site and high usage. Moreover, since they are made of polyester, polypropylene, and polyamide it also increases its durability.

Based on application the market is segmented into vitrectomy surgery, corneal transplantation surgery, iridectomy surgery, cataract surgery, oculoplastic surgery, and others. The segment for cataract surgery held major share of the market owing to the growing prevalence of visual impairment caused due to cataract globally. Cataract surgery technology and techniques have been improved significantly over the past few years. Currently, cataract surgeries are among the most frequently performed surgeries in many developed countries. On the basis of end user the market is segmented into ambulatory surgical centers, hospitals, and others. The segment for ambulatory surgical centers is likely to showcase high growth rate in the forecast period as ophthalmic surgeries do not require longer hospital stays.

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market owing to growing geriatric population base in the U.S., the need for ophthalmic surgeries is rising in this region. As per WHO stats, number of people aged 65 years and above in this country is likely to reach above 75 Mn by 2030, thus making a positive impact on product demand for ophthalmic sutures in the forecast period.

Some of the players in the market include Surgical Specialties Corporation, Accutome, Unilene, Aurolab, DemeTECH Corporation, FCI Opthalmics, Mani, Medtronic, B. Braun Melsungen AG, Teleflex Incorporated, Johnson & Johnson, and Assut Medical.

This report segments the global ophthalmic sutures market as follows:

Global Ophthalmic Sutures Market: Product Segment Analysis

Global Ophthalmic Sutures Market: Type Segment Analysis

Global Ophthalmic Sutures Market: Application Segment Analysis

Global Ophthalmic Sutures Market: End User Segment Analysis

Global Ophthalmic Sutures Market: Regional Segment Analysis

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Keywords:    Ophthalmic Sutures Market

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