Ophthalmic Knives Market – Global Emphasis on Improving Vision Quality to Underpin Market Growth
As visual impairment and blindness emerge as critical public health issues, a number of healthcare professionals and ophthalmologists are opening up to discussions on these aspects. As the world battles these scenarios, the focus remains on vision quality improvement with minimally-invasive procedures, bringing precise surgical instruments into the spotlight. While a lot is said and done about the surgical instruments used in the field of ophthalmology, improving the efficacy of these instruments remains paramount for manufacturers. In case of surgical instruments such as ophthalmic knives, smooth penetration and accurate incision remains paramount requirements that need be to be addressed.
TMR’s new study reveals exclusive insights into the ophthalmic knives market, allowing readers to gain a holistic market glance. According to the TMR study, revenue from the ophthalmic knives market was valued at nearly US$ 298.40 million in 2018. Remarkable technology advancements in eye care, tremendous growth in the number of eye surgeries, and an increasing aging population are likely to fillip the growth of the ophthalmic knives market in the foreseeable future.
Rising incidents of ophthalmic disorders, coupled with the growing risk and complexities of surgeries remain significant propellants for innovations in ophthalmic surgical devices and instruments, spawning the availability of precise and advanced microsurgical ophthalmic knives. Moreover, the remarkable uptick in the preference for precision surgical instruments across a slew of applications has further offered growth prospects for the providers of ophthalmic knives.
Key Industry Trends Bolstering Ophthalmic Knives Market Growth
- Single-Use Ophthalmic Knives Gain Traction – The preference for sterile surgical instruments has been around for long, where healthcare professionals emphasize on high-level hygiene, particularly during surgeries. Moreover, minimizing the risk of cross contamination from exposure to elements has been a vital necessity for ophthalmologists. Aligned with this, numerous sterilization regulations regarding reusable ophthalmic knives are stringent, resulting in an inclination towards single-use disposable ophthalmic knives.
- Increasing Awareness of Ophthalmic Disorders – Aligned with the increasing rate of blindness observed worldwide, healthcare professionals and ophthalmologists are engaged in key activities to boost consumer awareness. Major investments targeted at conducting awareness programs are further likely to educate individuals pertaining to the seriousness of ophthalmic disorders, driving consumer attention towards timely diagnosis and treatment.
- Technological Developments Spark a Wave of Innovation – The expansion of the healthcare industry is closely linked to key technological advancements carried out globally. Ultra-precision and ease achieved in ophthalmic surgical instruments such as ophthalmic knives with the incorporation on cutting-edge technology is likely to provide a push to the applications of these devices.
- Growing Adoption of Microsurgeries to Create Future Scope – Continuous technological developments have led precision to become a mainstream aspect across the healthcare sector. Spawned by this evolution, there is a major adoption of microsurgeries cited across numerous healthcare fields, including ophthalmology. As microsurgery is gaining ground, the utilization of precision medical instruments, such as ophthalmic knives, is likely to spur.
- Training Initiatives for Surgeons to Improve Applicability – Training initiatives by providers of ophthalmic knives such as Alcon, as well as governments, in a bid to improve the skills of surgeons and healthcare providers, are further expected to boost market growth.
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Ophthalmic Knives Market – Competitive Landscape
- Educating consumer bases about various eye disorders and enlightening them regarding their negative impacts remain a part of the continued commitment of the providers of ophthalmic knives. Alcon, a globally-recognized leader in eye care, recently launched a new art-focused campaign with respect to the Cataract Awareness Month. This campaign showcases the impact that cataract could have on seeing color, and encourages patients diagnosed with cataract to understand the benefits of cataract surgery.
- Novartis recently announced its agreement with Takeda Pharmaceutical Company Limited for acquiring the assets associated with Xiidra, (lifitegrast ophthalmic solution) 5% globally. The additional commercial experience established with Xiidra is likely to better position the former for front-of-the-eye pipeline products that are presently in development.
- Bausch Health Companies Inc.’s wholly-owned subsidiary and leading eye health company, Bausch + Lomb, recently announced 26 new scientific analyses. These novel scientific presentations reveal the positive experiences of ophthalmic surgeons with Bausch + Lomb products, including their vision enhancement system and intraocular lenses.
The ophthalmic knives market continues to witness the dominance of front runners, with a significantly major share held by them. The leading position of these giants is mainly attributed to their strong product lines and distribution networks, which allows them to cater to the needs of consumer bases overseas. The excellent quality-to-price ratio reflected by the ophthalmic knives market players has further fostered their strong market position. The production of OEM components and acquisitions are slated to be the key strategies driving business growth for key players in the ophthalmic knives market.