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Ophthalmic Knives Market to be Worth US$460 Million by 2027, Says TMR
ALBANY, New York, June 25, 2019 /PRNewswire/ - According to the report by Transparency Market Research, the global ophthalmic knives market is expected to witness robust growth with a high CAGR. The market that was valued at US$ 298.40 mn in 2018 is expected to reach a value of US$460 mn by the end of 2027.
The global ophthalmic knives market is categorized on the basis of blade type, application, products type, and end users. Out of these categories, the single-use knives segment under product type category is expected to show maximum growth in the forecast period. The growth is attributed to the rising preference of sterile surgical instrument and growing awareness of hospital-acquired infection or HAI among people across the globe.
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North America is expected to dominate the regions of global ophthalmic knives market in the forecast period, says the report. The growth of the region is attributed to growing cases of ophthalmic diseases and rising awareness of minimally invasive surgeries in the region.
Rising Cases of Eye Disorder to Accelerate the Growth of the Market
Growing number of eye disorder especially ophthalmic disorders that require surgeries are prominent factors that are supporting the growth of global ophthalmic knives market. Growing prevalence of diseases like cataract, glaucoma, corneal transplant, and age-related muscular disorders are some more factors that are influencing the growth of global ophthalmic knives market.
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Moreover, the rising geriatric population is another reason that is fueling the growth of the market. The studies suggest that a major number of global population is above the age of 65 years. This implies that a huge number of people are prone to various eye disorders. Nevertheless, eye surgery requires great precision and highly sterile apparatus. These factors are influencing the manufacturers to focus on research and development in order to cater to this demand. Owing to the rising demand by the healthcare institutions of precise and hygienic ophthalmic knives, the market is expected to bode well from 2019 to 2027.
Rising Pricing Pressure by Regional Players to Hamper the Growth of the Market
As a result of tough competition in the global market, various regional players have launched their own products at a highly competitive price. These low prices are expected to impact the sales of various global players across the globe. This, in turn, may hamper the growth of global ophthalmic knives market in the forecast period.
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However, rising technological advancements in the healthcare sector and rising cases of the ophthalmic disorder in various regions across the globe are expected to offer various opportunities to the players of global ophthalmic knives market. Owing to these opportunities, and growing awareness of hygiene among people the global ophthalmic knives market is projected to surpass the challenges and maintain a decent growth during the forecast period.
In a recent report by Transparency Market Research, the experts enlighten the highly competitive landscape of global ophthalmic knives market. According to the report, the market is fragmented with the presence of various players that are dominating its dynamics. The presence of well-established players in the market poses a huge challenge for the new entrants to set their foot in the global ophthalmic knives market. In order to establish themselves, the new players are focusing on strategies such as mergers, partnerships, and collaborations.
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On the other hand, the veterans of the market are acquiring various small and medium scale businesses in order to maintain their dominance and expand their brand presence across various regions around the globe. They are also relying upon their strong distribution networks and constant innovative product launches in order to strengthen their position in the global ophthalmic knives market in the forecast period of 2019 to 2027. The key players of the market are Surgical Specialties Corporation, Shah Eye Care Pvt. Ltd., Sidapharm, Unique Technologies Inc., Pfm medical Ag, Optitech Eyecare, and Surgi Edge, Eagle Lab.
The study presented here is based on a report by Transparency Market Research (TMR), titled, "Ophthalmic Knives Market (Product Type: Crescent Knives, Slit Knives, MVR Knives, Stab Knives, and Others; Usage: Reusable and Disposable; Blade Type: Diamond, Stainless Steel, and Others; Application: Cataract, Glaucoma, Endothelial Keratoplasty, and Others; End User: Hospitals, Specialized Clinics, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027."
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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