DUBLIN--(BUSINESS WIRE)--The "Ophthalmic Knives Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The ophthalmic knives market is projected to grow with a healthy CAGR over the forecast period. The major factor attributing to the growth of the market is the growing incidence of ophthalmic diseases like cataracts, keratosis, and others.
According to the World Blind Union, 2017, nearly 300 million people around the world estimated to be blind or visually impaired, with increasing patient pool, the market for ophthalmic knives also increases. Furthermore, the growing geriatric population, who are prone to various eye disorders increases the cases of the diseases, and in turn the surgeries.
Therefore the growth of the medical devices industry, coupled with the implementation of approving diagnostic devices are a few other major factors driving the market. However, the high cost of ophthalmic knives is the major restraint to the growth of the market.
Key Market Trends
Straight Knives Segment is Anticipated to Witness Rapid Growth
The straight ophthalmic knife has the advantage of single-handed blade retraction. These retain superior sharpness and are also accessible in double bevel type. The metal blades in straight knives are disposable, which is leading their popularity over reusable blades owing to benefits such as minimal cross-infection risks and affordability.
According to EUROSTAT, number of cataract surgeries conducted in the United Kingdom for the year 2016 is approximately 491.6 thousand. The statistics give a clear picture of the increasing number of eye surgeries, which in turn increases the growth of the market. Therefore the increasing incidence of chronic ophthalmic diseases globally and increasing number of eye surgeries are factors that are directly proportional to the market growth of the segment.
Asia-Pacific is Expected to be the Fastest Growing Market During the Forecast Period
The Asia-Pacific is expected to grow rapidly, throughout the forecast period. The market growth is due to factors such as increasing demand for enhanced ophthalmic knives and a substantial rise in the number of local market players in countries such as China, India, and South Korea. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase the market growth. Countries like Thailand, India, and Malaysia are facing a steep rise in medical tourism in recent years. This is due to the increasing existence of healthcare services providers which offer world-class services at reasonable costs.
Additionally, the increasing number of non-profit organizations that offer inexpensive healthcare services in rural parts of the region are expected to fuel the demand during the forecast period.
The Ophthalmic Knives market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market are Alcon (Novartis), Optiedge, India, Paramount Surgimed, Surgistar, Ophtechnics Unlimited, Sidapharm, Diamatrix, Bausch & Lomb Incorporated and Unique Technologies Inc.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Incidence of Ophthalmic Diseases
4.2.2 Growth of the Medical Devices Industry
4.3 Market Restraints
4.3.1 High Cost of the Ophthalmic Knives
4.4 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Design
5.1.1 Straight Knives
5.1.2 Crescent Knives
5.1.3 Slit Knives
5.1.4 MVR Knives
5.2 By Product
5.2.1 Reusable Ophthalmic Knives
5.2.2 Single-use Ophthalmic Knives
5.3 By End-User
5.4.1 North America
5.4.4 Middle-East & Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Optiedge, India
6.1.3 Paramount Surgimed Ltd.
6.1.4 Surgistar, Inc.
6.1.5 Ophtechnics Unlimited
6.1.7 Diamatrix Ltd.
6.1.8 Bausch & Lomb Incorporated (Bausch Health)
6.1.9 Unique Technologies Inc. (Surgical Specialties Corporation)
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/m6w4s3