Ophthalmic Knives Market Size, Share, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ophthalmic Knives Market


The global Ophthalmic Knives market size is projected to reach US$ 2.35 billion by 2026, from US$ 1.76 billion in 2020, at a CAGR of 4.9% during 2021-2026. Increasing application of disposable ophthalmic knives in minimally invasive surgeries for the treatment of diseases such as glaucoma and cataract is majorly driving the growth. Increasing adoption of affordable and disposable knives over reusable knives is creating significant growth opportunities for new market entrants.
Introduction of innovative procedures for developing grade 300 and 400 stainless steel and introduction of automation in sharp knife manufacturing processes are some of the factor which can be attributable for affordability and easy availability of ophthalmic knives. These procedures enable significant reduction on manufacturing cost and thus, the final product price.

North America is witnessing steep rise in geriatric population prone to various age related ophthalmic diseases such as glaucoma, cataract, retinopathy, Age-related Macular Degeneration (AMD), and low vision. AMD is observed to be more common in women than men and the others are affected after 40-50 age. Increasing life expectancy is expected to boost geriatric population, thus, leading to prevalence of age related disorders.

Increasing adoption of minimally invasive surgeries is witnessed on the global scale. Patients are opting for minimally invasive surgeries, such as Small Incision Cataract Surgery (SICS) since it reduces the out-of-pocket expenditure for patients, total surgery cost, pre and post-surgical diagnosis and medication, and hospital stay. This factor is anticipated to positively influence the global ophthalmic knife industry in near future.

Market Segmentation, Outlook & Viewpoint: Global Ophthalmic Knives Market

Design Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Straight Knives
  
Crescent Knives
  
Slit Knives
  
MVR Knives
  
Stab Knives
  
Others

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Reusable
  
Single-use

End-use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2026)

  
Hospitals
  
Ambulatory Surgery Centers
  
Clinics

Key Players, Recent Developments & Regional Insights: Global Ophthalmic Knives Market

Disposable ophthalmic knives segment is expected to witness the fastest CAGR during the forecast period owing to increasing adoption over reusable products. Disposable surgical knives help minimizing cross-infection risk. Owing to cost-effectiveness, disposable knives are majorly used in hospitals and larger clinics which order in bulk. Additionally, disposable or single use ophthalmic knives can be ideally used by beginners and students since they allow to experience various wide range of styles, sizes, and shapes and are economic.

Single use ophthalmic knives significantly minimize the risk of cross-infection. Additionally, minimal risks pertaining to wear and tear of blades is also expected to drive the demand for the product in near future.
Reusable knives offer great durability since they are manufactured from superior and precision-engineered materials, which also help the physicians to reuse several times. However, factors such as high device price and costly sterilization procedures are some of the factors which are expected to impede segment growth during the forecast period.

End Users Insights

Increasing number of ophthalmic surgeries, improving healthcare facilities, favorable reimbursement policies are some of the factors driving growth of the hospital segment at a lucrative pace during the forecast period.
Clinics segment is expected to witness significant CAGR in the forthcoming years due to increasing number ophthalmologists and optometrists offering individual clinical services. Moreover, growing awareness for eye disorders and contribution of non-profit organizations including Rotary International is expected to boost the segment growth.

High burden on hospital acquired infectious diseases is expected to fuel the use of disposable ophthalmic knives in hospitals. Most hospital in developed countries have central sterile services departments for common sterilization procedures. However, costs incurred in sterilization of small sized reusable devices is comparatively higher as than buying disposable devices. In order to minimize the healthcare service, hospitals are opting for disposable devices over reusable.

Regional Insights

North America captured the largest ophthalmic knives market share in 2018. Presence of major market players, favorable reimbursement scenario, and rising trends of disposable knives are some of the factors expected to play an important role in regional market dynamics. The region is expected to continue its dominance during the forecast period.

Asia Pacific is anticipated to register a CAGR of around 7.0% during the forecast years. Increasing demand for advanced ophthalmic knives and significant rise in number of local market players in countries such as China, India, and South Korea are some of the factors driving the regional growth.

Countries such as Thailand, India, and Malaysia are experiencing steep rise in medical tourism in the recent past. This is due to the increasing presence of healthcare services providers which offer world class services at affordable costs. In addition, rising number of non-profit organization which provide free/affordable healthcare services in rural parts of the region is expected to fuel the demand during forecast period.

Ophthalmic Knives Market Share Insights

The key market players comprise Alcon, Inc.; Hoya Corporation; Essilor; Topcon Corporation; Hai Laboratories, Inc.; Bausch and Lomb Incorporated; MANI Inc., Seiko Optical Products Co., Ltd.; Nidek Co., Ltd.; Ziemer Group; Alltion; and DGH Technology.

New product launches and geographical expansions are some of the major strategic initiatives taken by key market players. Local players in developing countries offer products at comparatively lower prices. This is expected to fuel the adoption of innovative manufacturing techniques by big players to minimize the product prices.

Key Insights Covered: Global Ophthalmic Knives Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ophthalmic Knives industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Ophthalmic Knives industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ophthalmic Knives industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ophthalmic Knives industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ophthalmic Knives industry.

Research Methodology: Global Ophthalmic Knives Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other