Ophthalmic Knives Market Size is expected to reach USD 314.65 Million a CAGR of 3.90% during the forecast period (2022-2030).
The visual impairment or blindness is emerging as a critical public health issue. Visual impairment, both preventable and treatable, affects an estimated 285 million people globally in 2018. This leads to a rise in demand for vision quality improvement with minimally invasive procedures, with the help of precise surgical instruments.
Ophthalmic knives are fine blades used for performing deep, fine, and precision cuts during ophthalmic surgeries to reduce the surgical footprint. Ophthalmic knives are used for are for all types of ophthalmic procedures such as keratitis, glaucoma, cataract, and others. Ophthalmic knives can be one time usable or reusable. They allow enhanced control and precision during surgical procedures, deliver great sharpness, which results in a high-quality incision. There are several types of blades depending upon the type of surgical procedures.
Also, growing initiatives by government organizations to improve ophthalmic care services are influencing the growth of the Ophthalmic knives market. For instance, in 2016, the Centers for Disease Control and Prevention (CDC) implemented a vision grant program in partnership with state-based chronic disease programs and other clinical and nonclinical stakeholders to engage in strategic initiatives or activities designed to improve vision and eye health.
Ophthalmic Knives Market Influencer
The rising preference for minimally invasive surgery owing to the advantages such as less pain, less scarring, minimized cost, pre- and post-surgical diagnosis and medication, and reduced hospital stay. Increasing consumer awareness about minimally invasive surgery is the rising demand for ophthalmic knives.
- Rising prevalence of ophthalmic diseases such as cataract, keratosis, vitrectomy, glaucoma, and others are positively influencing the growth of the market. The number of people blind from cataracts in the world is increasing by approximately 1 million per year. Moreover, in the UK, about two percent of the population over 40 years have a glaucoma condition. This rising prevalence of ophthalmic diseases is driving the growth in the ophthalmic knives market.
- Growing geriatric population: For instance, by 2050, the world’s population aged 60 years and older is expected to reach a total of 2 billion, from 900 million in 2015. The geriatric population is more prone to ophthalmic diseases. Thus, boosting the growth of the market.
- Technological advancements in surgical processes and the introduction of innovative models of ophthalmic knives.
- Increased awareness about ophthalmic surgical procedures among the population.
- Rising pricing pressure. Due to tough competition in the global market, various regional players have launched their products at a highly competitive price. These low prices are expected to impact the sales of various global players across the globe, which in turn is expected to hamper the growth of the market.
- Uncertainty in the reimbursement structure in the ophthalmology industry.
Ophthalmic Knives Market Segmentation
Ophthalmic Knives Market, By Product Type
- Crescent Knives: Crescent blades are rounded have a bevel up or down and straight or angled.
- Slit Knives: Slit knives comes with bevel up or double bevel options with a 45-degree angled tip. The slit knives segment is expected to register the fastest growth owing to increasing applications for entry in the anterior chamber or phaco stab incision in ophthalmic surgical procedures.
- Straight Knives: The largest segment. The straight ophthalmic knife has the benefit of single-handed blade retraction. These knives have superior sharpness and are also available in double bevel type. The metal blades in straight knives are disposable, which is driving their popularity over reusable blades.
- MVR Knives: MVR blades are available in various sizes and gauges with angled or straight shafts.
- Others: Stab knives, Lance tip Knives, Corneal knife, and others.
Ophthalmic Knives Market, By Utility
- Reusable: Reusable knives provide great durability as they are manufactured with precision-engineered materials, which makes them reusable by physicians several times.
- Disposable: Disposable knives are affordable and are used in bulk in hospitals and clinics. The use of disposable knives also reduces the risk of cross-infection. There is no risk of the knife becoming worn or damaged and this eliminates repair costs along with the risk of accidents or broken implements during surgery.
Ophthalmic Knives Market, By Blade Type
- Diamond: The largest segment. The diamond blade type is one of the sharpest blades available to the ophthalmic surgeon, regardless of the shape of the individual type of blade. It is among the most precise instrument available to the medical profession.
- Stainless Steel: Stainless steel blade offers high accuracy and precise incision.
- Others: Metal knives, laser knife, and others.
Ophthalmic Knives Market, By Application
- Cataract: The largest segment owing to the high prevalence of cataracts among people globally. Nearly 18 million people are bilaterally blind from cataracts in the world in 2018, representing almost half of all global cases of blindness.
- Keratitis: Keratitis is an inflammation of the cornea, can result in partial or total loss of vision. An estimate of 1.5 to 2 million cases of corneal ulcers occurs annually in developing countries.
- Glaucoma: It has been estimated that by 2020 there will be approximately 80 million people with glaucoma, an increase of about 20 million since 2010.
Ophthalmic Knives Market, By End Users
- Hospitals: It holds the largest market share is attributed to an increase in the number of patients afflicted by ophthalmic diseases, coupled with a rise in a number of hospitals, and quality care, and availability of skilled and qualified professionals.
- Ambulatory Surgical Centers: This is the fastest-growing segment due to the rise in a number of ophthalmic surgical procedures and the rising adoption of surgical instruments. Furthermore, over the past decade, the proportion of cataract surgeries performed at surgery centers has increased, 73% in 2015.
- Others: Others include research and development organizations and others.
Ophthalmic Knives Market, By Region
- Americas : The largest regional market. Increasing awareness about ophthalmic diseases and early diagnosis is strongly boosting the ophthalmic knives market in this region.
- Europe : Europe has some of the best healthcare services in the world. Rising healthcare expenditure is one of the key drivers in the European ophthalmic knives market. The rising cases of the ophthalmic disease are contributing to the growth of this region. For instance, the number of patients affected by age-related macular degeneration (AMD) in the EU is expected to rise by almost 25% based on population growth and aging until 2050.
- Asia-Pacific : The fastest-growing regional market for ophthalmic knives, Asia-Pacific, has the world’s largest population and increasing prevalence for ophthalmic diseases, including cataract along with the rise in demand for advanced ophthalmic knives, is contributing in the growth of the market.
- Middle East & Africa : The Middle East and Africa into two regions, i.e., the Middle East and Africa. The recent healthcare reforms and developing healthcare infrastructure in the Middle East is expected to augment the market growth over the forecast period of 2019 to 2025. For instance, in Saudi Arabia, annual international vision programs such as world sight day are encouraged for awareness regarding eye care. The presence of favorable government initiatives would support the growth of the market in this region.
Ophthalmic Knives Market Key Players
- Mani, Inc. (Japan)
- Bausch Health (Canada)
- Diamatrix Ltd (US)
- HAI Laboratories, Inc. (US)
- Novartis AG (Switzerland)
- Sidapharm (Greece)
- Hoya Corporation (Japan)
- Surgical Specialties Corporation (US)
- pfm medical ag (Germany)
- Shah Eye Care Pvt. Ltd. (India)
- Optitech Eyecare (Tarun Enterprises) (India)
- Surgi Edge (India)
- Microtrack Surgicals (India)
- Eagle Lab (US)