Ophthalmic surgical instruments are gaining due to the increasing number of ophthalmic surgeries and the rising geriatric population. The growing prevalence of eye diseases across the globe and technological advancement in ophthalmic surgical devices drive the growth of the market. Ophthalmic surgical instruments are designed to prevent potential eye damage, disease, or injuries. It further consists of forceps – serrated and untoothed forceps for holding tissue, such as the iris, to restrict movement during ophthalmology. The needle holder has the needle in position while applying suture. Iris scissors are used for intraocular maneuvers in the iris and deeper and comparatively more delicate structures or cut the cornea or iris’s outer side. The Global Ophthalmic Surgical Instruments Market is estimated to see healthy growth, pegged at a CAGR of around 5.4% throughout the forecast period 2020-2025.
The number of people suffering from significant eye disease increases, and vision loss becomes a paramount public health concern. The growing aging population and the rising prevalence of chronic disease, such as hypertension, diabetes, and others, have boosted the prevalence of eye diseases, including ocular hypertension (glaucoma) and diabetic retinopathy. With the growing prevalence of eye-related diseases and the disability-adjusted life years (DALYs), the demand for the correct treatment of diseases is expected to rise during the forecast period. Thus, this is increasing the demand for ophthalmic equipment across the globe. Hospitals have high purchasing power and have a huge patient pool for the treatment of eye disorder which result in increasing the demand for ophthalmic surgical instruments in hospitals thereby augmenting the growth of the market. North America holds a significant share in the ophthalmic surgical instruments market. Whereas Asia Pacific witnesses the fastest growth opportunity in the global ophthalmic surgical instruments market due to rising geriatric population, growing medical tourism, and increasing focus of prominent players on emerging Asian countries.
The advent of technological advancements in ophthalmic lasers, such as femtosecond lasers, has significantly reduced surgery times and improved procedural outcomes and convenience. Further, it accelerates the adoption among end-users. However, it is challenging to estimate the number of patients preferring femtosecond laser therapy over conventional methods. Also, whether the number of patients choosing the treatment will cover the installation cost of the laser. Additionally, femtosecond lasers are a high-cost instrument that directly or indirectly impacts the growth of the market. In contrast, the tremendously rising geriatric population across the globe drives the market growth. Moreover, the increasing incidence and prevalence of eye diseases such as cataracts, glaucoma, refractive errors, and diabetic retinopathy propel the demand for such surgical devices globally.
Segmentation Overview of the Global Ophthalmic Surgical Instruments Market
The ophthalmic surgical instruments market is classified into product and end user. These major market segments are further categorized into various sub-segments to study the market in detail.
By Product Outlook (Cataract Surgery Devices, Glaucoma Surgery Devices, Refractive Surgery Devices, Vitreoretinal Surgery Devices, Ophthalmic Microscopes, Accessories, and Others)
By End User Outlook (Hospitals, Specialty Clinics and Ambulatory Surgical Centers (ASCs), and Others)
Key Players Insights
Alcon, Bausch + Lomb, Ellex Medical Lasers, Hoya, Iridex, Lumenis, Carl Zeiss Meditec, Johnson & Johnson, Nidek, Staar Surgical, Topcon, Ziemer Ophthalmic Systems, among others, are some key market players included in the research study of the global ophthalmic surgical instruments market.
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