Global Ophthalmic Surgical Instruments Market Size to Reach USD 20.00 Billion in 2032 | Emergen Research

Vancouver, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The global ophthalmic surgical instruments market size is expected to reach USD 20.00 Billion in 2032 and register a revenue CAGR of 6.0% during the forecast period, according to the latest analysis by Emergen Research. Increasing incidence of eye diseases is a major factor driving the market revenue growth. The eyes are most essential sensory organs, and eye disease is the most prevalent medical condition. Ophthalmic technologies have improved the success rate of eye procedures. Eye specialists can quickly discover anomalies in individuals' eyes using specialized technologies, and surgeons can execute extensive procedures to repair the problem, if necessary, which in turn is driving the market revenue growth.

Improvements in eye care infrastructure are another factor driving revenue growth of the market. Ophthalmic surgical devices are important for the greatest comfort and convenience of patients. The proper application of this equipment improves overall success and efficiency of the eye inspection process. An eye specialist can accurately assess each patient's condition and propose appropriate treatment for cure. According to World Health Organization, at least 2.2 billion people have near or distant vision impairment.

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Technological advancements in ophthalmology is another factor driving the market revenue growth. For instance, corneal topography equipment maps the surface and shape of cornea using non-invasive diagnostic imaging. Ophthalmologists can identify disorders such as keratoconus and adapt contact lenses to an individual's specific characteristics by analyzing the curvature, thickness, and other elements of the corneal surface which in turn help doctors to accurately diagnose certain eye diseases and treat unusual forms of optical disorders hence contributing to the market revenue growth.

However, availability of alternative treatment processes is a major factor restraining market revenue growth. Moreover, lack of knowledge about the disease and lack of healthcare insurance by the government across the globe for the treatment of cataracts is also restraining the market revenue growth.

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Scope of Research

Major Companies and Competitive Landscape

The global ophthalmic surgical instruments market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• Accutome Inc.
• Corza Ophthalmology.
•  HAAG-STREIT GROUP.
• Appasamy Associates Private Limited.
• Millennium Surgical Corp.
• Katalyst Surgical.
• ASICO, LLC.
•  INKA Surgical.
• Surgical Holdings.
• Hoya Corporation.

Strategic Development

• On 13 January 2022, DORC International and WEFIS GmbH announced a strategic alliance based on a DORC equity investment. The collaboration focused on research and development to offer innovation in the performance, efficiency, and usability of cataract surgery devices. This strategic relationship and investment ensure strong collaboration between DORC and WEFIS research and development teams.

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Some Key Highlights From the Report

• The cataract surgery devices segment accounted for largest revenue share in 2022 owing to the rise in various eye-related disorders. A cataract surgery device is used in the surgical treatment of cataracts. A cataract is an eye-related problem associated with blurred or cloudy vision, which if not treated properly on time can result in permanent vision loss. Ophthalmic Viscosurgical Devices (OVDs) are injected into the anterior chamber to support, stabilize, and protect the eyeball, as well as to distend the lens capsule during Intraocular Lenses (IOL) implantation. Cataract surgery devices and equipment are used for a variety of surgical procedures, including extracapsular cataract extraction, phacoemulsification, femtosecond laser, and others hence contributing to revenue growth of this segment.
• The hospitals segment accounted for a significantly large revenue share in 2022. Ophthalmic surgical instruments are specially designed tools used in hospitals by ophthalmologists and eye surgeons to execute various eye surgeries. Ophthalmic procedures require a high level of precision and accuracy owing to the delicate nature of eye structures. Ophthalmic instruments are made to give the surgeon delicate control and manipulation during treatments, allowing for precise incisions, suturing, and tissue manipulation hence driving revenue growth of this segment.
• The market in North America accounted for largest revenue share in 2022. Increase in prevalence of glaucoma as well as an increase in the worldwide elderly population, which is more susceptible to eye disease is a major factor driving the market revenue growth in this region. Another aspect driving market revenue growth is global improvements in eye care infrastructure. According to the Centers for Disease Control and Prevention, roughly 12 million people aged 40 and up in the United States suffer vision impairment. Furthermore, the rising frequency of various ocular ailments in a growing population as a result of increased use of electronic gadgets such as mobile phones and laptops, which causes blurred vision due to cataracts, is contributing to the problem.
• Some major companies in the global market report include Accutome Inc., Corza Ophthalmology, HAAG-STREIT GROUP, Appasamy Associates Private Limited, Millennium Surgical Corp, Katalyst Surgical, ASICO, LLC, INKA Surgical, Surgical Holdings, Hoya Corporation.

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For the purpose of this report, Emergen Research has segmented the global ophthalmic surgical instruments market on the basis of product, end-use, and region:

• Product Outlook (Revenue, USD Billion; 2019–2032)
  • Cataract Surgery Devices
    • Intraocular Lenses (IOLs)
      • Standard IOL
      • Premium IOL
    • Ophthalmic Viscoelastic Devices (OVDs)
      • Cohesive OVDs
      • Dispersive OVDs
      • Combinational OVDs
    • Phacoemulsification Devices
    • Cataract Surgery Lasers
    • IOL Injectors
    • Cataract Surgery Instruments and Kits
  • Glaucoma Surgery Devices
    • Glaucoma Drainage Devices (GDDS)
    • Glaucoma Stents and Implants
    • Glaucoma Laser Systems
    • Microinvasive Glaucoma Surgery Devices
    • Glaucoma Surgery Instruments & Kits
  • Refractive Surgery Devices
    • Femtosecond Lasers
    • Excimer Lasers
    • Refractive Surgery Instruments & Kits
    • Others
  • Vitreoretinal Surgery Devices
    • Vitreoretinal Packs
    • Vitrectomy Machines
    • Photocoagulation Lasers
    • Illumination Devices
    • Vitrectomy Probes
    • Vitreoretinal Surgery Instruments & Kits
  • Ophthalmic Microscopes
  • Accessories
    • Tips & Handles
    • Forceps
    • Spatulas
    • Scissors
    • Macular Lenses
    • Cannulas
    • Others
• End-Use Outlook (Revenue, USD Billion; 2019–2032)
  • Hospitals
  • Specialty Clinics and Ambulatory Surgical Centers
  • Others
• Regional Outlook (Revenue, USD Billion, 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of MEA

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