Ophthalmic Surgical Instrument Market Outlook, Size, Share, Latest Trends, 2024
Posted by Yash Chauhan on March 14th, 2019
The occurrence of eye ailments and vision loss is becoming a major public health problem. The ophthalmic surgical instrument is devices used for the surgery of an eye owing to treat the eye diseases. The global ophthalmic surgical instrument market is growing at a significant pace due to the increasing prevalence of eye diseases due to growing geriatric population and technological advancement in ophthalmic surgical devices. The market has observed a high demand for cataract surgery device over the last few years, due to the increasing prevalence of cataract and the growing geriatric population.
By the basis of product, the market is segmented into cataract surgery devices, vitreoretinal surgery devices, glaucoma surgery devices, refractive surgery devices, ophthalmic microscopes and ophthalmic surgical accessories. The cataract surgery devices segment is estimated to account the highest share of the ophthalmic surgical instrument industry, due to rising number of cataract surgeries owing to increasing geriatric population and associated eye diseases such as age-related macular degeneration (AMDs), diabetic retinopathy, & other eye disorders. Apart from that, the glaucoma surgery devices segment is expected to grow at the highest rate, due to technological advancement in glaucoma surgeries and increasing prevalence of glaucoma.
The refractive surgery devices are further classified into excimer lasers, femtosecond lasers, refractive surgery instruments and kits and other refractive surgery lasers. The femtosecond lasers segment is estimated to account biggest share in the refractive surgery devices market and is anticipated to grow at fastest rate, due to increasing number of femtosecond laser-assisted surgeries and benefits associated with the surgery such as faster uncorrected visual acuity recovery, lower incidence of dry eyes, greater safety, less intraocular pressure variation in the femtosecond-created flap and less induced aberrations.
The glaucoma drainage devices segment is estimated to the largest share in the global market, due to the increasing use of glaucoma drainage implants for controlling surgical intraocular pressure (IOP) in patients with uncontrolled glaucoma. The microinvasive glaucoma surgery devices segment is expected to grow at the highest growth rate due to the increasing acceptance of MIGS devices and instruments owing to its various benefits such as efficacy & easy in use, allow surgeons to perform surgery through a very small incision and also offer safety and rapidly growing aging population.
The world-wide ophthalmic surgical instrument market has also been segmented by end-user into hospitals, specialty clinics and ambulatory surgery centers and others. The hospital segment held the largest share due to increasing prevalence of eye disorders across the at hospitals, high acquiring power of hospitals, and increasing number of hospitals in emerging countries.
Due to advancement in refractive surgery, minimally invasive glaucoma surgery and advanced technology in IOLS are the trends observed in the ophthalmic surgical instrument market. Femtosecond lasers-based cataract surgery is also one of the main trends in the ophthalmic surgical instrument market. Femtosecond laser technology is a tool used in corneal refractive surgical procedures, cataract surgeries, and lamellar and full-thickness corneal transplants. These kinds of lasers are used for highly precise ophthalmic surgeries.
The growing prevalence of eye diseases such as cataract, glaucoma, technological advancement in ophthalmic surgical instrument, and increasing government initiatives to increase the awareness of visual impairment in order to control visual impairment and increasing healthcare expenditure are the primary growth drivers for ophthalmic surgical instrument market. For instance, according to the World Health Organization (WHO) in 2017 36 million people are blind and 217 million people have moderate to severe vision impairment. Increase in geriatric population and increasing number of ophthalmic surgeries are also fueling the growth of the market.
Globally, North America is the biggest ophthalmic surgical instrument market as the region is increasing regulatory approvals, technological advancement in instruments and devices used for minimally invasive procedure and growing healthcare expenditure. Increasing prevalence of eye diseases due to growing geriatric population is also fueling the growth of the North American industry.
Asia-Pacific is observed to witness the fastest growth in the market. As the region comprises of largest population and geriatric population is increasing rapidly among them. In addition, increasing healthcare expenditure and increasing awareness on advance ophthalmic surgical devices also creating a positive impact on the ophthalmic surgical instrument market growth in the region.
Main players in the ophthalmic surgical instrument market are investing in the development of innovative and advance ophthalmic surgical products, which is strengthening their position in the market. In May 2017, Alcon launched multifocal toric IOL with multifocus optical design at American Society of Cataract and Refractive Surgery. Bausch & Lomb, Hoya, Iridex, Lumenis, Nidek, Topcon, Alcon, Carl Zeiss Meditec, Johnson & Johnson, Ellex Medical Lasers and Ziemer Ophthalmic Systems are the key players offering ophthalmic surgical devices.
About VynZ Research
VynZ Research is the leading research and advisory company. We’ve grown well beyond our leading technology research to provide management across the enterprise with the vital information, advice, and tools they need to achieve their goal/mission-critical priorities and build the organizations of future.
Together with our customers, we fuel the future of business so that a more successful world takes shape.
Manager: Client Care
Like it? Share it!
About the AuthorYash Chauhan
Joined: February 25th, 2019
Articles Posted: 106
More by this author