Ophthalmic Knives Market Report 2024

The ophthalmic knives market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.08 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth during the historical period was driven by an increase in cases of cataracts, glaucoma, and other vision impairments, a growing preference for minimally invasive procedures, heightened investments in healthcare infrastructure and ophthalmic care, stringent regulatory frameworks ensuring the safety and effectiveness of ophthalmic knives, and the expansion of specialized eye care facilities.

The ophthalmic knives market size is expected to see strong growth in the next few years. It will grow to $2.75 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. Anticipated growth in the forecast period can be attributed to the widening applications of ophthalmic knives, increasing demand in emerging markets, higher incidences of age-related eye conditions fueling demand, greater government expenditure on healthcare, especially in eye care, and a focus on reducing surgical complications and improving recovery times. Major trends in the forecast period include the use of biocompatible and durable materials, development of smaller and more precise knives, growing adoption of AI and robotic-assisted surgical systems, customization of ophthalmic knives to meet individual patient needs and specific surgical requirements, and the advancement of reusable and eco-friendly surgical instruments.

The rise in eye-related conditions is expected to drive growth in the ophthalmic knives market. These conditions, including cataracts, glaucoma, and diabetic retinopathy, affect the eye's lens, optic nerve, and retina. Factors contributing to the growing number of patients with these conditions include aging populations, lifestyle changes, and environmental influences. Ophthalmic knives play a crucial role in surgical procedures aimed at treating these conditions by enabling precise incisions and facilitating interventions to enhance vision and manage eye health. For instance, as of January 2024, the Centers for Disease Control and Prevention reported that over 3.4 million Americans aged 40 and older were blind or visually impaired, a number expected to double by 2030. Consequently, the expanding prevalence of eye-related conditions is anticipated to fuel demand within the ophthalmic knives market.

Major companies in the ophthalmic knives market are advancing their offerings with innovative products such as disposable phaco knives. These knives are designed for single-use in cataract surgeries, providing precise cuts to enhance sterility and reduce contamination risks. For instance, in June 2024, HumanOptics Holding AG introduced a new line of disposable surgical knives tailored for ophthalmic procedures. These include advanced phaco knives with smart-shaped designs and specialized blades, aimed at improving surgical accuracy. Constructed from high-quality stainless steel and featuring an anti-glare coating, these knives ensure durability, sharpness retention, and minimal tissue disruption.

In April 2021, Katena Products, Inc. (Corza Ophthalmology), a US-based company specializing in medical device and equipment manufacturing, completed the acquisition of ASICO LLC. for an undisclosed sum. This strategic acquisition expands and enhances Katena’s ophthalmic surgical portfolio. ASICO LLC., also based in the US, is known for manufacturing ophthalmic surgical instruments, particularly ophthalmic knives.

Major companies operating in the ophthalmic knives market are Alcon Inc., Bausch Health Companies Inc., HOYA Surgical Optics, Teleflex Incorporated, MANI INC., RUMEX International Co., Aspen Surgical Products Inc., Appasamy Associates Private Limited, Accutome Inc., Unique Technologies Inc., Beaver-Visitec International Holdings Inc., Surgistar Inc., Millennium Surgical Corporation, Paramount Surgimed Ltd., Altomed Ltd., GWS Surgicals LLP, Ophtechnics Unlimited, Diamatrix Ltd., HAI Laboratories Inc., Corza Ophthalmology, Tecfen Medical.

North America was the largest region in the ophthalmic knives market in 2023. The regions covered in the ophthalmic knives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the ophthalmic knives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Ophthalmic knives serve as specialized surgical tools utilized in ophthalmology, particularly in delicate eye surgeries. These instruments are meticulously crafted to achieve precise incisions in the eye's tissues, demanding utmost accuracy and control due to the eye's sensitive and intricate nature. Their primary function is to facilitate exact cuts during surgical procedures, whether for accessing internal eye structures, removing diseased tissue, implanting devices, or correcting structural abnormalities.

The market for ophthalmic knives encompasses both reusable and single-use varieties. Reusable ophthalmic knives are designed for multiple applications following sterilization, crafted from materials such as diamond and stainless steel. They come in various designs such as straight, crescent, slit, micro vitreoretinal (MVR), and stab knives, tailored for specific surgical requirements including glaucoma, keratitis, and cataract surgeries. These knives are utilized across a spectrum of end-users including hospitals, ambulatory surgery centers (ASCs), and clinics.

The ophthalmic knives market research report is one of a series of new reports that provides ophthalmic knives market statistics, including ophthalmic knives industry global market size, regional shares, competitors with a ophthalmic knives market share, detailed ophthalmic knives market segments, market trends and opportunities, and any further data you may need to thrive in the ophthalmic knives industry. This ophthalmic knives market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The ophthalmic knives market consists of sales of slit knives, crescent knives, micro vitreoretinal (MVR) knives, and stab knives. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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