U.S. Ophthalmic Sutures Market Size By Type (Natural, Synthetic), By Absorption (Absorbable, Non-absorbable), By Application (Corneal Transplantation Surgery, Cataract Surgery, Vitrectomy, Iridectomy, Oculoplastic Surgery), End-use (Hospitals, Ambulatory Surgical Centers [ASCs]), Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Feb 2020  |  Report ID: GMI4517  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 65   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

U.S. Ophthalmic Sutures Market size crossed USD 100 million in 2019 and is projected to grow at 4.8% CAGR from 2020 to 2026. Increasing prevalence of eye diseases in the U.S. has resulted in surge for numerous surgical procedures, thereby, driving the demand for ophthalmic sutures. Favourable reimbursement scenario for various procedures along with increasing out of pocket expenditure in the country will further drive the market growth.
 

U.S. Ophthalmic Sutures Market

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Moreover, rising investment in R&D activities and focus of manufacturers on ophthalmic sutures innovation has led to advancements in the field of surgical sutures. Thus, growing demand for advanced ophthalmic sutures in surgical procedures will accelerate the industry market growth during the forthcoming years.
 

U.S. Ophthalmic Sutures Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: USD 109.5 Million
Historical Data for: 2015 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 4.8% 2026 Value Projection: USD 153 Million
Pages: 65 Tables, Charts & Figures: 14
Geographies covered (1): U.S.
Segments covered: Type, Absorption, Application, End-use
Companies covered (10): Unilene, Teleflex Incorporated, Surgical Specialties Corporation, Medtronic, Johnson & Johnson, FCI Opthalmics, DemeTECH Corporation, B. Braun Melsungen AG, Aurolab, and Alcon Inc
Growth Drivers:
  • Increasing incidence of eye diseases Rising elderly population
  • Growing prevalence of diabetes leading to ophthalmic diseases
  • Technological advancement in ophthalmic sutures
Pitfalls & Challenges:
  • Post-operative complications associated with ophthalmic sutures
  • Availability of alternatives
  • Dearth of trained ophthalmologists

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More than 3 million individuals in the U.S. suffer from glaucoma and is estimated to reach 4.2 million by 2030

U.S. Ophthalmic Sutures Market

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Rising frequencies of eye diseases in the U.S. will propel the ophthalmic sutures market growth in the forthcoming years. The increased incidence of various ocular and ophthalmic conditions such as glaucoma, age-related macular degeneration, cataract, and diabetic retinopathy further positively impacts the market growth. According to the American Academy of Ophthalmology, 24.4 million people aged 40 years and above are affected by cataract in the U.S. alone. Thus, people from ophthalmic diseases opt for surgical procedures in order to improve their vision, thereby, augmenting the U.S. ophthalmic sutures market growth.
 

Furthermore, advancement in technology propels ophthalmic sutures industry growth during the forecast period. The industry players focus to introduce advanced and novel sutures for eye surgeries. For instance, Ethicon (Johnson & Johnson), introduced a synthetic absorbable sterile surgical suture, increasing its adoption in surgical procedures. Thus, advanced functionalities in ophthalmic sutures will propel its adoption, thereby, boosting the market growth for ophthalmic sutures. However, risks associated with ophthalmic sutures may negatively impact the market growth.
 

Increasing usage in ophthalmic procedures will enhance the segment growth

Based on type, synthetic sutures segment is expected to witness around 5% growth during the forecast period. Synthetic sutures, known as the most modern sutures, are widely used in several ophthalmic procedures thereby, enhancing its market demand over the forecast period. Synthetic suture reduces the chance of eye infection and is available in specific sizes with absorbable and non-absorbable properties. It is suitable for ophthalmic surgeries as it is chemically inert, possesses excellent knot security, high tear resistance and excellent tissue passage. Availability of such products will further favour the segmental growth.
 

Adoption of absorbable sutures in eye surgeries will escalate business growth

U.S. Ophthalmic Sutures Market By Absorption

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Based on absorption, absorbable sutures segment is predicted to grow over 5% during the analysed timeframe. The absorbable suture material is metabolized by endogenous proteolytic enzymes. Growing adoption of absorbable sutures such as polyglactin 910, poliglecaprone 25, polydioxanone sutures and catgut in the internal body tissue procedures, will surge its market demand during the analysis period.
 

Increasing incidence for cataract surgeries will drive the segment growth

Based on application, the U.S. ophthalmic sutures market covers corneal transplantation surgery, cataract surgery, oculoplastic surgery, vitrectomy, iridectomy, and others. Cataract surgery segment was valued over USD 40 million in 2019. Increasing incidence of cataract in the U.S. will surge the need for cataract surgeries and boost the market growth. Furthermore, the National Eye Institute stated that, cataract removal is the highly common procedures performed in the U.S. the above-mentioned factors will further enhance the market growth, thereby, accelerating segmental market growth over the coming years.
 

Availability of emergency facilities in hospital settings will drive the segment growth

Hospitals segment will witness around 3.5% CAGR owing to availability of high-tech equipment and technologies in hospital settings. Availability of emergency facilities along with well-established healthcare infrastructure in the country will augment segment market growth.
 

Inorganic growth strategies will offer attractive opportunities to market participants

Some of the key players operating in the ophthalmic sutures industry are Aurolab, DemeTECH Corporation, B. Braun Melsungen AG, Alcon Inc., FCI Opthalmics, Johnson & Johnson, among others. These key industry players operating in ophthalmic sutures market are undertaking various strategic initiatives in order to increase their market share.
 

Some of the recent industry developments:

  • In September 2017, Ethicon launched ProxiSureTM in the U.S. This move will expand the company’s product portfolio.
     
  • In March 2019, Alcon Inc., acquired PowerVision, Inc., a U.S. based medical device company. The strategy helped company to develop innovative lens for cataract patients across the world.
     

The U.S. ophthalmic sutures market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026, for the following segments:
 

Market Outlook, By Type, 2015 - 2026 (USD Million)

  • Natural
  • Synthetic

By Absorption, 2015 - 2026 (USD Million)

  • Absorbable
  • Non-absorbable

By Application, 2015 - 2026 (USD Million)

  • Corneal transplantation surgery
  • Cataract surgery
  • Vitrectomy
  • Iridectomy
  • Oculoplastic surgery

By End-use 2015 - 2026 (USD Million)

  • Hospitals
  • ASCs
  • Others
     

Frequently Asked Questions (FAQ) :

The synthetic sutures segment in the U.S. is expected to witness around 5% growth rate during the forecast period, says a GMI report.
Hospitals segment is expected to witness around 3.5% CAGR during the forecast timeframe owing to availability of high-tech equipment and technologies in hospital settings.
The U.S. market share was valued at over USD 100 million in 2019 and is projected to grow at 4.8% CAGR from 2020 to 2026.

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