As the world is increasingly witnessing the growing prevalence of disorders related to eyes such as myopia, hyperopia, cataract, glaucoma, age-related macular degeneration and diabetic retinopathy, demand for efficient ophthalmic surgical procedures has grown immensely.
As the world is increasingly witnessing the growing prevalence of disorders related to eyes such as myopia, hyperopia, cataract, glaucoma, age-related macular degeneration and diabetic retinopathy, demand for efficient ophthalmic surgical procedures has grown immensely. This is anticipated to transform the outlook of ophthalmic sutures market over the ensuing years.
According to Global Market Insights, Inc. report, ophthalmic sutures market size is projected to surpass USD 443.5 million by 2025.
Speaking of the increasing prevalence of eye-disorders, a report from WHO has suggested that 51% of blindness across the world occurs due to cataract. On account of this, physicians largely recommend surgical procedures to treat ophthalmic diseases, which is instigating the demand for ophthalmic surgical equipment.
Given below is a brief outline of trends that are anticipated to transform the overall ophthalmic sutures business space over the span of 2019 to 2025:
Increased preference towards technological advancements in the market space
Technological advancement in ophthalmic sutures is one of the a prominent factors favoring the market growth. Several key industry players are focusing on developing advanced ophthalmic solutions to gain strong market presence. For instance, in 2019, Surgical Specialties Corporation introduced a new business division named Caliber Ophthalmics. This division combines the company’s popular Sharpoint™ brand, with two of its recent ophthalmic acquisitions, namely VPM Surgical, Inc. and Unique Technologies, Inc.
Citing another instance, Teleflex launched BONDEK PLUS BRAIDED featuring higher lubricity and smoothness and comes with customization option. Reportedly, the product received an FDA clearance in 2018 for ophthalmic procedures. Such initiatives are expected to positively influence the industry growth over the foreseeable time frame.
Numerous advantages of synthetic sutures
Synthetic sutures have garnered immense momentum in the ophthalmic sutures market owing to umpteen benefits associated with these. As these sutures are made from prolene, nylon, dacron, etc., they offer strong and long-lasting support for gradual healing of ocular tissues. Synthetic sutures also offer minimum tissue reaction which improves handling properties, superior strength and passes easily through tissues. Reports have suggested that the synthetic suture segment would depict a CAGR of 5% through 2025.
To access sample pages of this report titled, “Ophthalmic Sutures Market Size By Type (Natural, Synthetic), By Absorption (Absorbable, Non-absorbable), By Application (Corneal Transplantation Surgery, Cataract Surgery, Vitrectomy, Iridectomy, Oculoplastic Surgery), End-Use (Hospitals, Ambulatory Surgical Centers [ASCs]), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/3358
Rising number of corneal transplantation surgeries worldwide
An expanding count of corneal transplantation surgeries, worldwide, has produced an intense demand for ophthalmic sutures. That said, the corneal transplantation surgery segment in the ophthalmic sutures market is expected to witness over 6% CAGR through 2025. As per Eye Bank Association of America statistics, in 2016, around 82,994 corneal graft tissues were used in the U.S. alone. There has been a considerable rise is corneal donors from past few years and with the unmet demand for these surgical procedures, the global market is estimated to grow significantly over time.
Expanding patient inclination towards ASCs
Ambulatory surgical centers are deemed to offer superior quality of treatment, and minimally invasive and cost-effective surgeries, which has compelled patients to prefer these healthcare settings more. In addition, ASCs offer good assistance, sophisticated equipment and effective infection control in ophthalmic surgical procedures which minimizes post operations complications which makes them highly preferred healthcare settings.
For the records, ambulatory surgical centers (ASCs) segment had secured a significant revenue share of 65% in 2018 and is expected to register substantial gains over the coming years.
Mounting ophthalmic disorder cases in Asia Pacific
ophthalmic sutures market in Asia Pacific is projected to observe a robust CAGR of over 6% through 2025. This can be credited to growing product demand driven by increasing prevalence of ophthalmic disorders as well as associated risk conditions such as diabetes and other chronic diseases. Besides, growing geriatric population, and unhealthy lifestyle and eating habits has elevated the number of patients with ophthalmic diseases which is supporting the product adoption further.
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