The Global Ophthalmic Surgical Instruments Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
Pune, India -- (SBWIRE) -- 02/23/2019 -- Global Ophthalmic Surgical Instruments Market is expected to rise from its initial estimated value of USD 8.85 billion in 2018 to an estimated value of USD 14.21 billion by 2026, registering a CAGR of 6.1% in the forecast period of 2019-2026. This growth of the market value can be attributed to the increasing geriatric population and optic disorders that accompany this age group.
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Market Definition:
Ocular Surgery also known as eye surgery is a surgery performed usually on the eye with the help of surgical equipment's by an ophthalmologist. These surgical instruments are carefully selected that improve the safety and chances of procedure being successful. These instruments are responsible for the correction and treatment of these optic disorders.
Market Drivers:
- Rising levels of geriatric population inducing the prevalence of eye disease that accompany the age group, is expected to drive the market growth
- Government programs and initiatives about the awareness of optic diseases and treatments available is also expected to drive the market growth
Market Restraints:
- Lack of awareness and affordability of these instruments in developing countries
- High cost of these surgical instruments is also expected to restrain the market growth
Key Market Competitors:
- Novartis AG,
- Carl Zeiss AG,
- Johnson & Johnson Services Inc.,
- HOYA Corporation,
- Bausch Health,
- NIDEK CO. LTD.,
- TOPCON CORPORATION,
- Ellex Medical Lasers,
- IRIDEX Corporation,
- Lumenis,
- STAAR SURGICAL,
- Ziemer Ophthalmic Systems,
- Essilor, Aurolab,
- ASICO LLC.,
- Duckworth & Kent,
- OPHMED CO. LTD.,
- Millennium Surgical Corp,
- Anodyne Surgical,
- HAAG-STREIT GROUP
Key Developments in the Market:
- In July 2016, Abbott announced the approval of "Tecnis Symfony" Introcular Lenses by US Food and Drug Administration for the treatment of cataracts.
- In September 2016, US Food and Drug Administration announced the approval of SMILE (Small Incision Lenticule Extraction) procedure along with the utilization of VisuMax Femtosecond Laser for the treatment and contraction of myopia in patients of age 22 or above.
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Market Segmentation: Global Ophthalmic Surgical Instruments Market
- By Product
1. Cataract Surgery Devices
i. Introcular Lenses (IOLs)
1. Standard
2. Premium
ii. Ophthalmic Viscoelastic Devices (OVDs)
1. Cohesive
2. Dispersive
3. Combinational
iii. Phacoemulsification Devices
iv. Cataract Surgery Lasers
v. Intraocular Injectors
vi. Cataract Surgery Instruments and Kits
2. Glaucoma Surgery Devices
A. Glaucoma Drainage Devices (GDDS)
B. Glaucoma Stents and Implants
C. Glaucoma Laser Systems
D. Micro-Invasive Glaucoma Surgery Devices
E. Glaucoma Surgery Instruments and Kits
3. Refractive Surgery Devices
A. Femtosecond Lasers
B. Excimer Lasers
C. Other Lasers
D. Refractive Surgery Instruments and Kits
4. Vitreoretinal Surgery Devices
A. Vitreoretinal Packs
B. Vitrectomy Machines
C. Photocoagulation Lasers
D. Illumination Devices
E. Vitrectomy Probes
F. Vitreoretinal Surgery Instruments and Kits
5. Ophthalmic Microscopes
6. Accessories
A. Tips & Handles
B. Forceps
C. Spatulas
D. Scissors
E. Macular Lenses
F. Cannulas
G. Others
- By End-User
1. Hospitals
2. Clinics
3. Ambulatory Surgical Centers
4. Others
- By Geography
1. North America
2. South America
3. Europe
4. Asia-Pacific
5. Middle East and Africa
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