Ophthalmic Knives Market Size will witness substantial expansion from 2022 to 2028. The growing geriatric population, often prone to diabetes, is a major reason driving the industry growth. The increasing prevalence of several ophthalmic disorders like diabetic retinopathy, cataract, glaucoma, age-related macular degeneration, refractive errors, etc., requiring ophthalmic surgeries will propel the demand for ophthalmic knives in the forthcoming years.
As per the World Health Organization (WHO), around 2.2 billion people globally have near or distance vision impairment, with the majority being over 50 years of age. Rising demand for minimally invasive surgical procedures for vision quality improvement and increasing awareness towards ophthalmic disorders will augment the ophthalmic knives market outlook in the years ahead.
Emerging investment and R&D activities by market players for technological advancement and better product innovation, and supportive government norms to improve healthcare infrastructure, will significantly contribute to the market expansion in the foreseeable future. Furthermore, awareness initiatives for eye-related disorders by healthcare professionals and numerous non-government and non-profit organizations are likely to boost the industry forecast over the analysis timeframe.
Crescent Knives are gaining immense popularity and may experience significant growth trends in the upcoming years due to an upsurge in the number of cataract surgeries. These knives are used in Small Incision Cataract Surgery (SICS) and sutureless trabeculectomy to make tunnel incisions in the cornea and sclera for phacoemulsification.
Reusable ophthalmic knives may attract lucrative growth opportunities in the future due to their growing preference among healthcare professionals. These knives are made with precisely engineered materials and are known for durability, sharpness, and efficiency.
Diamond blades will register significant expansion during the analysis timeframe driven by their increasing preference for cataract surgeries and other typical ophthalmic procedures to cut the cornea. They provide micrometer precision with accurate cutting edges causing minimal damage to the sensitive area.
With respect to the regional landscape, the Asia Pacific ophthalmic knives market may exhibit considerable progression over the projected timeframe due to an upsurge in the diabetic and geriatric population suffering from ophthalmic disorders. Increasing health awareness and expenditure along with favorable government initiatives to improve healthcare infrastructure will propel the segment expansion. Moreover, increasing investments by industry players will further expand the regional market share.
Notable players of the ophthalmic knives market include McKesson Medical-Surgical, Eagle Labs, Mani, Optitech Eyecare, Novartis (Alcon), Pfm medical, Surgi Edge, Sidapharm, and Surgical Specialties. These players are indulging in several market strategies to expand their industry share and sustain the market competition in the upcoming years.
The sudden outbreak of the pandemic last year majorly impacted ophthalmic knives market outlook. Declining economic growth and contracting revenues significantly reduced the healthcare spending of the people and the government across major economies. Imposition of lockdowns, travel and movement restrictions, and the increasing infection anxiety among people limited their hospital visits for non-essential surgical procedures, further hampering the industry growth.
That said, with the reduced number of COVID positive cases, emerging vaccinations, and the lockdown restrictions coming to an end, the market may soon achieve its pre-pandemic growth rate and experience further progression in the next few years.
Market, By Product Type
Market, By Usage
Market, By Blade Type
Market, By Application
Market, By End-use
The above information is provided for the following regions and countries: