Ophthalmic Knives - Market Insights, Competitive Landscape, and Market Forecast - 2030

Ophthalmic Knives - Market Insights, Competitive Landscape, and Market Forecast - 2030

Ophthalmic Knives Market By Product Type (Crescent Knife, Slit Knife, Mvr Knife, And Others), Usage (Single-Use And Reusable), Material Type (Stainless Steel, Diamond, And Others), Application (Cataract, Trachoma, Glaucoma, And Others), End-User (Hospitals, Ophthalmic Centers, And Others), And Geography (North America, Europe, Asia-Pacific, And Rest Of The World) is expected to grow at a steady CAGR forecast till 2030 owing to rising cases of eye conditions such as glaucoma, cataract, keratitis and others with the rising number of regulatory approvals and certifications for new innovative ophthalmic knives among others

The ophthalmic knives market is estimated to grow CAGR of 3.93% during the forecast period from 2024 to 2030.

The market for ophthalmic knives is experiencing growth driven by several key factors. The increasing number of eye disorders like cataracts, glaucoma, and trachoma significantly boosts the demand for ophthalmic surgeries, consequently increasing the need for ophthalmic knives. Additionally, rising aging population globally and the increasing preference for minimally invasive surgical techniques necessitates the use of advanced ophthalmic knives, thereby propelling market expansion driving the growth for ophthalmic knives during the forecast period from 2024 to 2030.

Ophthalmic Knives Market Dynamics:

According to the World Health Organization (WHO) in 2022, trachoma poses a public health threat in many countries and is responsible for causing blindness or visual impairment in about 1.9 million people worldwide. In 2022, 125 million people resided in areas endemic to trachoma, putting them at risk of blindness from the disease. Trachoma, caused by the bacterium Chlamydia trachomatis, remains the leading infectious cause of blindness worldwide. The market for ophthalmic knives is expected to see significant growth due to the increasing in the cases of trachoma, which is a leading cause of infectious blindness. As trachoma advances, it often leads to trichiasis, a condition where the eyelashes turn inward, requiring surgical intervention. In regions where trachoma is endemic, the need for such surgeries is substantial, thereby driving the demand for ophthalmic knives.

According to the European Commission (2023), in 2021, the European Union recorded cataract surgery as the leading surgical procedure, with a substantial 4.32 million operations conducted across EU member states, according to the European Commission's findings in 2023. Furthermore, data from the same source indicates that France recorded the highest rate of cataract surgery per 100,000 population in 2021, reaching an estimated 1,417 surgeries per 100,000 population, followed closely by Austria with 1,340 surgeries per 100,000 population.

Furthermore, as per the study conducted by the International Agency for the Prevention of Blindness (IAPB) in 2020, the global population affected by moderate to severe cataracts was 83,475,182. Cataract surgery serves as a pivotal catalyst for the expansion of the ophthalmic knife market due to several essential factors. Firstly, cataracts stand as one of the predominant causes of blindness globally, especially affecting aging demographics. As this population segment continues to grow, so does the demand for cataract surgery, consequently driving the need for specialized surgical instruments like ophthalmic knives. The proliferation of cataract surgeries globally contributes directly to the surge in demand for these knives.

Another key factor behind the growth of the ophthalmic perimeters market increasing strategic activities such as acquisitions, and product launch. For example - In April 2024, Carl Zeiss Meditec AG successfully acquired the Dutch Ophthalmic Research Center (D.O.R.C.), and the two companies came together to shape the ophthalmology market.

Therefore all the factors mentioned above are expected to push forward the growth of the ophthalmic knives market during the forecast of 2024 to 2030.

However, challenges such as the risk of having complications with the use of ophthalmic knives may hinder the expansion of the overall market growth.

Ophthalmic Knives Market Segment Analysis:

Ophthalmic Knives Market by Product Type (Crescent Knife, Slit Knife, MVR Knife, and Others), Usage (Single-Use, and Reusable), Material Type (Stainless Steel, Diamond, and Others), Application (Cataract, Trachoma, Glaucoma, and Others), End-User (Hospitals, Ophthalmic Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the material type segment of the overall ophthalmic knives market, the stainless steel category is expected to hold the largest share in the year 2023. Stainless steel is highly valued in the production of ophthalmic knives due to a multitude of advantages that cater specifically to the demanding needs of eye surgery. One of the foremost benefits is its exceptional resistance to corrosion. In the context of ophthalmic surgery, instruments must be sterilized frequently and come into contact with bodily fluids, making corrosion resistance crucial for maintaining the longevity and functionality of the knives. This property ensures that stainless steel knives remain durable and effective over extended periods of use.

Moreover, the material's inherent strength and durability are equally important. Stainless steel allows for the manufacturing of extremely fine and precise blades without sacrificing sturdiness. In ophthalmic surgery, where precision is paramount, the ability to create and maintain a sharp edge is critical. Stainless steel blades can be improved to a very fine point, facilitating accurate incisions with minimal trauma to delicate eye tissues. Moreover, these blades retain their sharpness over multiple uses, reducing the need for frequent replacements and ensuring consistent performance during surgeries.

Further, biocompatibility is another significant advantage of ophthalmic knives made from stainless steel. This means that the material does not cause adverse reactions when it comes into contact with human tissue. This is essential for patient safety, as it minimizes the risk of infections, allergic reactions, and other complications that could arise from using non-biocompatible materials.

Thus, considering the diverse applications and merits associated with stainless steel, it is anticipated that these contributing factors will fuel the advancement of stainless steel usage, consequently fostering the overall growth of the ophthalmic knives market during the forecast period from 2024 to 2030.

North America Is Expected To Dominate The Overall Ophthalmic Knives Market:

Among all the regions, North America is expected to hold the largest share in the global ophthalmic knives market in 2023. The market for ophthalmic knives in North America is experiencing significant growth due to several key factors, including the rising number of eye conditions like cataracts, glaucoma, dry eye, and trachoma, as well as an increase in refractive errors. This trend, combined with higher healthcare spending in the region, is driving market expansion. Additionally, the proactive involvement of leading industry companies and their commitment to ongoing product innovation are critical contributors. These companies are frequently introducing new products and securing regulatory approvals, which further propel the market. The convergence of increasing healthcare needs, technological advancements, and strategic industry initiatives is fueling the growth of the ophthalmic knives market in North America, responding robustly to the demand for advanced treatments and innovative eye care technologies.

For instance, according to recent data from the Centers for Disease Control and Prevention (CDC) in 2020, about 3 million people in the United States suffered from glaucoma, making it the second leading cause of blindness. The CDC also forecasts that the number of glaucoma patients in the United States will grow to 6.3 million by 2050. The most common form, open-angle glaucoma, is characterized by increased eye pressure and typically develops without early symptoms, leaving 50% of those affected unaware of their condition. The growing cases of glaucoma is poised to have a profound impact on the market for ophthalmic knives. As glaucoma affects an increasing number of individuals, the demand for surgical interventions to manage the condition is expected to rise correspondingly. Surgical procedures such as trabeculectomy, which are often necessary in advanced stages of glaucoma, require precise incisions that can be made effectively with specialized ophthalmic knives. Hence, the demand for advanced ophthalmic knives designed to meet the requirements of these cutting-edge techniques will increase. Overall, the increasing cases of glaucoma will lead to the growth of the ophthalmic knives market in North America during the forecast period from 2024 to 2030.

Ophthalmic Knives Market Key Players:

Some of the key market players operating in the ophthalmic knives market include BVI, KAI CORPORATION, B. Braun, Ophtechnics Unlimited, Alcon, Surgistar, PARAMOUNT, SURGIMED LTD., OPTIEDGE INDIA, Bausch + Lomb Storz®, Diamatrix LTD, Sidapharm, Corza Medical, Shah Eye Care, pfm medical gmbh, Eagle Labs, INTEGRA LIFESCIENCES, Microtrack Surgicals, Carl Zeiss Medtec AG, and others.

Recent Developmental Activities In The Ophthalmic Knives Market:

In December 2021, Corza Medical, known as Corza, completed the acquisition of Katena Products, Inc., a medical device company specializing in products for ophthalmic surgery.

Key Takeaways From The Ophthalmic Knives Market Report Study

Market size analysis for current ophthalmic knives market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global ophthalmic knives market.

Various opportunities available for the other competitor in the ophthalmic knives market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current ophthalmic knives market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for ophthalmic knives market growth in the coming future?

Target Audience Who Can Be Benefited From This Ophthalmic Knives Market Report Study

Ophthalmic knives product providers

Research organizations and consulting companies

Ophthalmic knives-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in ophthalmic knives market

Various end-users who want to know more about the ophthalmic knives market and the latest technological developments in the ophthalmic knives market

Frequently Asked Questions For The Ophthalmic Knives Market:

1. What are ophthalmic knives?

Ophthalmic knives are surgical instruments specifically designed for use in ophthalmic procedures, which involve the delicate structures of the eye. These knives are meticulously crafted to make precise incisions with minimal tissue trauma, allowing surgeons to perform intricate surgeries such as cataract extraction, corneal transplants, and glaucoma procedures.

2. What is the market for global ophthalmic knives market?

The ophthalmic knives market is estimated to grow CAGR of 3.93% during the forecast period from 2024 to 2030.

3. What are the drivers for the global ophthalmic knives market?

The market for ophthalmic knives is experiencing growth driven by several key factors. The increasing number of eye disorders like cataracts, glaucoma, and trachoma significantly boosts the demand for ophthalmic surgeries, consequently increasing the need for ophthalmic knives. Additionally, rising aging population globally and the increasing preference for minimally invasive surgical techniques necessitates the use of advanced ophthalmic knives, thereby propelling market expansion driving the growth for ophthalmic knives during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global ophthalmic knives market?

Some of the key market players operating in the ophthalmic knives market include BVI, KAI CORPORATION, B. Braun, Ophtechnics Unlimited, Alcon, Surgistar, PARAMOUNT, SURGIMED LTD., OPTIEDGE INDIA, Bausch + Lomb Storz®, Diamatrix LTD, Sidapharm, Corza Medical, Shah Eye Care, pfm medical gmbh, Eagle Labs, INTEGRA LIFESCIENCES, Microtrack Surgicals, Carl Zeiss Meditec AG and others.

5. Which region has the highest share in the ophthalmic knives market?

The market for ophthalmic knives in North America is experiencing significant growth due to several key factors, including the rising number of eye conditions like cataracts, glaucoma, dry eye, and trachoma, as well as an increase in refractive errors. This trend, combined with higher healthcare spending in the region, is driving market expansion. Additionally, the proactive involvement of leading industry companies and their commitment to ongoing product innovation are critical contributors. These companies are frequently introducing new products and securing regulatory approvals, which further propel the market. The convergence of increasing healthcare needs, technological advancements, and strategic industry initiatives is fueling the growth of the ophthalmic knives market in North America, responding robustly to the demand for advanced treatments and innovative eye care technologies.