The Global Ophthalmic Knives Market size is expected to reach $382.6 million by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
Ophthalmic knives are microsurgical blades used during ophthalmic procedures to make precise, deep incisions that assist minimize the surgical incision. The ophthalmic knives have a low tolerance and are made from specific alloys. Incisions made with ophthalmic knives during eye procedures are precise. 1.1 billion Individuals worldwide are blind or partially sighted.
Nearly 600 million people have poor distance vision. 295 million of them have moderate to severe vision impairment, and 43 million of them are blind. Of the remaining population, 258 million people have minor vision impairment. 90 million kids and teenagers are blind or have low eyesight. 30 million of them have moderate to severely impaired vision, and 2 million are blind. This information suggests that almost everyone will require access to optometrist services at some point in their lives.
A person is said to have a visual impairment if their diminished visual function makes it difficult for them to carry out daily tasks including reading, driving, and watching TV. Instead of utilizing visual acuity or visual field cutoff values, the definition of visual impairment is focused on function. Those who are blind or have low vision are considered to have a visual impairment.
However, the term "blindness" is frequently used in a relative sense to denote low vision, which is the inability to see clearly despite the use of glasses, contact lenses, medication, or surgery. Mild to severe vision loss is possible. Around 300 to 400 million individuals around the world suffer from some form of visual impairment. About 50 million of them are blind and unable to see light with either eye. Blindness affects adults over 50 to an extent of 80%.
Globally, the COVID-19 outbreak impacted healthcare industry workflows. Numerous companies, including parts of the healthcare industry, were forced to temporarily close their doors because of the pandemic. Additionally, COVID-19 had a negative impact on a number of industries, including the ophthalmology industry. Due to lockdowns and other restrictions put in place to stop the COVID-19 pandemic, there was a considerable decrease in patient visits to clinics. As a result, fewer elective eye procedures were being performed each week in hospitals and clinics.
Ophthalmologists and other healthcare experts are actively raising consumer awareness in response to the rising rate of blindness, vision impairment, and other eyes/vision disorders. The significance of ocular problems has likely been made clear to people by significant investments in awareness initiatives, which are in turn encouraging prompt diagnosis and treatment. The international organizations for eye care have increased their efforts in response to WHO's vision impairment and blindness data.
Key technical developments are intimately related to the growth of the healthcare sector. Applications for these devices are likely to be boosted by the ultra-precision and convenience that the latest technology has enabled in ocular surgical tools like ophthalmic knives. Manufacturers of ophthalmic knives have a lot of chances due to consumer preference for heat-tempered knives and the expanding use of bio blades due to their smooth and accurate incision.
Somewhere 600 to 800 thousand needlesticks and other percutaneous injuries are thought to happen to healthcare workers each year, according to the Centers for Disease Control and Prevention. The significance of tool safety assumes a more severe, life-threatening tone when a physician considers the danger of obtaining HIV or hepatitis (B or C) due to an unintentional knife or blade stick. Ophthalmologists must maintain a strict attitude toward blade safety to safeguard themselves, their employees, and their patients, even though those illnesses are extreme cases.
On the basis of end user, the ophthalmic knives market is divided into Hospitals, Eye Clinics, and Others. Eye clinics segment procured a significant revenue share in the ophthalmic knives market in 2021. The rising eye problems globally instigated many eye care programs around the world. Most these programs took place in prominent eye clinics. These programs primarily focused on improving patient flow to eye clinics. It also entailed getting rid of extra stages and procedures so that the doctors have more time to concentrate on patients and deliver good, amiable service.
Based on the design, the ophthalmic knives market is categorized into straight knives, crescent knives, slit knives, MVR knives, and others. The slit knives segment dominated the ophthalmic knives market with the highest revenue share in 2021. This is because slit ophthalmic knives are lightweight, simple for doctors to wield, and feature blunt points that provide flawless finishing. The major incision in cataract surgery is made with a slit knife. It gives the phaco emulsification tip an appropriate width to fit.
Based on application, the ophthalmic knives market is segmented into Glaucoma Surgery, Cataract Surgery, and Others. The glaucoma surgery segment acquired a significant revenue share in the ophthalmic knives market in 2021. Other than vision loss, open-angle glaucoma, the most prevalent kind, frequently exhibits no symptoms. Despite its rarity, angle-closure glaucoma is a medical issue with symptoms like nausea and vomiting along with ocular pain.
On the basis of product, the ophthalmic knives market is bifurcated into Reusable Ophthalmic Knives and Disposable Ophthalmic Knives. The reusable ophthalmic knives garnered the largest revenue share in the market in 2021 with the maximum revenue share. Due to their high level of endurance and the use of materials that have undergone precise engineering during manufacturing, doctors can reuse them repeatedly. The diamond blade is the most accepted reusable ophthalmic blade. Regardless of the specific type of blade's shape, the diamond blade type is among the ophthalmic surgeon's sharpest options.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 284.2 Million |
| Market size forecast in 2028 | USD 382.6 Million |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 4.5% from 2022 to 2028 |
| Number of Pages | 238 |
| Number of Tables | 449 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Design, Product, End User, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on region, the ophthalmic knives market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North American region dominated the ophthalmic knives market with the highest revenue share in 2021. This is due to an established healthcare system, a rise in the number of elderly patients, and favorable reimbursement rules in the healthcare system. The market for ophthalmic knives in this area is experiencing significant growth due to rising awareness of ocular illnesses and early diagnosis.
Free Valuable Insights: Global Ophthalmic Knives Market size to reach USD 382.6 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Core Surgical Limited, Omni Lens Pvt. Ltd., SafeOps Surgical Care Ltd., Neu Micromed International Pvt. Ltd., Mani, Inc., Bausch Health Companies, Inc., Diamatrix Ltd., HAI Laboratories, Inc., Sidapharm P.C. and Bohaikangyuan Medical Co., Ltd.
By End User
By Design
By Application
By Product
By Geography
The global Ophthalmic Knives Market size is expected to reach $382.6 million by 2028.
Inappropriate Handling and Surgical Safety Issues with Blade are driving the market in coming years, however, Rising Awareness of Ophthalmic Disorders and Surgeries restraints the growth of the market.
Core Surgical Limited, Omni Lens Pvt. Ltd., SafeOps Surgical Care Ltd., Neu Micromed International Pvt. Ltd., Mani, Inc., Bausch Health Companies, Inc., Diamatrix Ltd., HAI Laboratories, Inc., Sidapharm P.C. and Bohaikangyuan Medical Co., Ltd.
The Hospitals market is leading the Global Ophthalmic Knives Market by End User in 2021; thereby, achieving a market value of $208.6 million by 2028.
The Cataract Surgery market shows high market share Global Ophthalmic Knives Market by Application in 2021; thereby, achieving a market value of $203.1 million by 2028.
The North America market dominated the Global Ophthalmic Knives Market by Region in 2021; thereby, achieving a market value of $141.6 million by 2028.
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