The global Single Use Ophthalmic Surgical Devices Market size is expected to reach USD 8.5 billion by 2026, as per a new report by Grand View Research Inc., registering a 6.5% CAGR over the forecast period. Frequent introduction of advanced single use ophthalmic surgical devices such as speculums, nucleus rotators and choppers, and OVDs, and rising incidence of age-related disorders of the eye are some of the major factors driving the market.
Increasing overall life expectancy and rising geriatric
population is expected to boost demand for treatment options for age-related
ophthalmic disorders. Along with these, incidence of lifestyle associated
disorders such myopia and hypermetropia are expected boost the adoption of
single use surgical devices for refractive surgery. Most of these conditions
cannot be treated by drugs and require surgical treatment. Increasing number of
eye-related surgeries are expected to boost the market during forecast period.
High competition and adoption of single use surgical
devices over reusable ones by end users such as hospitals are factors
propelling market players to introduce single use ophthalmic surgical devices
at affordable prices. Major market players are focusing on developing
innovative manufacturing techniques along with advanced raw materials to reduce
device price and overall cost burden on end users.
Introduction of new reimbursement policies, especially in
surgeries performed by ASCs in developed countries, is expected to propel the
number of ophthalmic surgeries being performed. In addition, growing efforts by
non-profit organizations to increase awareness about eye-related conditions and
provide necessary corrective procedures in rural regions for free or at an
affordable cost are expected to boost market growth.
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Single Use Ophthalmic Surgical Devices Market Report
Highlights
- Forceps held the largest market share in 2018 owing to their
affordable cost and high effectiveness in performing ophthalmic surgeries
- The OVDs segment is expected to register a 7.9% CAGR during the
forecast period due to various advantages associated with it. These
devices help in effectively performing surgeries like cataract without
impacting the corneal tissue surrounding the affected area
- Cataract surgery held largest market share by application due to
increasing number of cataract patients in various regions. Diabetic
retinopathy also held a significant share and is expected to grow at a
rapid pace largely due increasing number of diabetic patients
- The refractive surgery application segment is expected to grow at
fastest rate due to increasing ageing population, which is majorly
suffering from ophthalmic problems like myopia and presbyopia
- North America captured largest market share in 2018 owing to
favorable reimbursement policies, presence of major market players, and
growing prevalence of age related ophthalmic disorders
- Key players in the market comprise BVI; BLINK MEDICAL; Stephen
Instruments; Surgitrac Instruments UK Limited; Sterimedix Ltd; Accutome
Inc.; Alcon Vision LLC; Rumex International Co.; BAUSCH & LOMB
INCORPORATED; APPASAMY ASSOCIATES; MANI,INC.; and Carl Zeiss Meditec AG
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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