LONDON--(BUSINESS WIRE)--The global ophthalmic knives market is expected to post a CAGR of more than 5% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global ophthalmic knives market is the expansion of the product portfolio through the launch of single-use ophthalmic knives. With the rapid increase in the prevalence of ophthalmic diseases such as keratosis, cataract, and glaucoma, the need for ophthalmic knives is growing significantly. As a result, companies are focusing on developing single-use ophthalmic knives, which differ in sharpness and materials. Companies are also focusing on launching new product line extensions to strengthen their existing product portfolio. Hence, end-users such as clinics, hospitals, and ASCs have various options to choose products based on the specific ophthalmic surgical procedure, which will be a primary factor that will drive market growth during the forecast period.
As per Technavio, the adoption of minimally invasive ophthalmic surgical procedures and robotic platforms will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global ophthalmic knives market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global ophthalmic knives market: Adoption of minimally invasive ophthalmic surgical procedures and robotic platforms
The high cost of surgery and long hospital stays have become a major cost hurdle for patients seeking treatment. As a result, end-users such as hospitals, clinics, and ASCs prefer minimally invasive surgeries, which involve lesser loss of blood loss and consequently a shorter recovery period. Therefore, the demand for minimally invasive surgeries such as small incision cataract surgery (SICS) is increasing. In addition, robotic platforms are being used for complicated ophthalmic surgeries, which can improve surgical precision.
“Diabetes has become one of the major causes of blindness, resulting from diabetic retinopathy. Vitrectomy surgeries are performed for the treatment of diabetic retinopathy, which involves the removal of blood from the vitreous as well as scar tissue around the retina under general anesthesia. With the growing prevalence of diabetic retinopathy, ophthalmic disorders, and other eye surgical cases, there is an increase in demand for ophthalmic surgical products such as ophthalmic knives, which will drive the market growth,” says a senior research analyst at Technavio.
Global ophthalmic knives market: Segmentation analysis
This market research report segments the global ophthalmic knives market by product (single-use ophthalmic knives, and reusable ophthalmic knives) and geographic regions (North America, Europe, ROW, and Asia).
The North America region led the market in 2018, followed by Europe, ROW, and Asia respectively. The market growth in North America can be attributed to several factors such as the growing presence of global and local vendors, improved healthcare infrastructure, the presence of reimbursement, and the growing number of product launches.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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