Global Single Use Ophthalmic Surgical Devices Market by End Use (ASCs, Hospitals), by Application (Refractive Surgery, Cataract Surgery), by Product (Forceps, OVDs) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2018, the global market for single-use ophthalmic surgical instruments was worth USD 5.2 billion. It is expected to grow at 6.5% CAGR by 2026. The market is expected to grow due to an increase in ophthalmic complications like myopia, cataracts, diabetic retinopathy and other. The preference for single-use devices over reusable instruments is increasing at a rapid pace. Safety and availability in a variety of sizes and shapes makes single-use ophthalmic surgical tools ideal for optimizing surgical accuracy. Single-use devices also reduce maintenance costs due to cleaning and sterilization.

The chances of complications after eye surgery are reduced by single-use devices. These devices are not used repeatedly after sterilization which can lead to cross-contamination or other hospital-acquired infection. Ophthalmic surgery is a premium surgical procedure that requires safer and more precise surgical instruments. The market will be driven by an increasing number of operations and attempts to lower overall operating costs.

Favorable reimbursement policies for the surgical treatment of ophthalmic conditions such as cataracts, and diabetic retinopathy are expected to increase market growth in advanced countries. Joint Commission International's (JCI), effective guidelines and strict regulations regarding single-use device processing after use are expected to reduce the negative environmental impact, thereby encouraging single-use devices.

The market will be hampered by factors like high prices, low adoption rates, and limited product reach in low-GDP nations. However, there are a growing number of local producers that sell single-use surgical instruments at affordable prices. This will likely increase their adoption in areas with price-sensitive customers.

Product Insights

The following products are single-use ophthalmic surgical instruments. They include forceps and speculums. In 2018, forceps dominated the market. Its growth is due to its accessibility and affordability. Major players are also developing single-use ophthalmic surgery forceps.

In 2018, the nucleus rotators & choppers segment held a large share and will see a 6.9% CAGR over the forecast period. Its growing popularity during cataract surgery is the main driver of this segment. These choppers have a tip that is ergonomically designed to give surgeons complete control while performing surgery. This device is able to disassemble the cataract nucleus quickly and without any damage to the delicate endothelial cell. This segment is expected to grow due to increasing efficiency in cataract surgery and a growing number of cases.

The segment of ophthalmic surgical devices (OVDs), is expected to grow the fastest during the forecast period. The market for OVDs is being driven by the availability of OVDs prefilled syringes and a growing amount of cataract surgeries. Segment growth will be driven by the expansion of OVDs into other ophthalmic procedures and the increase in global reach.

Application Insights

The single-use market for ophthalmic surgical instruments is divided by application into glaucoma surgery and refractive surgery. The largest market share was held by cataract surgery in 2018, and it is expected that this segment will grow moderately over the forecast period. The segment's growth is due to the growing geriatric population as well as an increase in the number of cataract surgeries.

The fastest growth rate for the refractive surgery sector is anticipated during the forecast period. This is due to the myopia epidemic. Market growth will be boosted by the introduction of implanted contact lenses and advanced IOLs. This segment is expected to grow due to the increasing prevalence of these conditions and the increased demand for lenses that can correct them. The segment of diabetic retinopathy is expected to grow significantly over the forecast period. This is due to the rising incidence of diabetes-related eye diseases. The number of people with diabetes mellitus, for instance, is expected to rise to 79.4 millions by 2030.

End-use Insights

The market can be divided by end-use into hospitals, ophthalmic centers, ambulatory surgical centers (ASCs) and other segments. In 2018, hospitals dominated the market. Hospitals held the largest market share in 2018. This is due to a growing number of ophthalmic surgeries, improved healthcare facilities, and favorable reimbursement policies in developed nations. Hospitals prefer single-use ophthalmic equipment to reusable devices in order to reduce the burden of maintaining them.

Ophthalmic clinics will see significant growth over the forecast period. This is due to the increasing number of optometrists and ophthalmologists offering individual services. The segment will be driven by increasing awareness about eye diseases and the contributions of non-profit organizations to the development of ophthalmic services.

The fastest growth is expected for Ambulatory Surgery Centers during the forecast period. ASCs offer favorable reimbursement options for ophthalmic surgery procedures. The segment's growth is also expected to be influenced by the increasing number of ASCs located in different parts of the country.

Regional Insights

In 2018, North America accounted for 34.5%. Regional growth is expected to be driven by the presence of large patient pools and strong market players in North America. There are currently approximately 24 million patients with cataracts in the United States, and 7 million people have been diagnosed as having diabetic retinopathy. Segment growth will also be supported by favorable reimbursement policies for different surgical procedures in the region.

In 2018, Europe was second in the market. The reason for this is a steady increase in patients with conditions such as diabetes, age-related macular disease (AMD), and glaucoma. EUREYE found that AMD affects more than 3.3% European geriatrics. Due to diabetes' increasing prevalence, there is a rising number of diabetic retinopathy cases in the region. The regional market is also being driven by a growing awareness of ophthalmology care.

Asia Pacific is expected to experience the fastest CAGR during the forecast period. This is due to the increasing adoption of advanced technology and favorable reimbursement policies. China and India offer financial support to hospitals for the improvement of their facilities and research. This helps in research and the launch of innovative solutions in the field. Segment growth will be driven by both government and non-governmental initiatives to develop ophthalmic care in this region.

Market Share insights for Single-Use Ophthalmic Surgery Devices

BVI; BLINK MEDICAL, Stephen Instruments; Surgitrac Instruments UK Limited.; Sterimedix Ltd.; Accutome Inc..; Alcon Vision LLC. Rumex International Co.; BAUSCH & LOMB INCORPORATED. APPASAMY Associates. Carl Zeiss Meditec AG. are the top players in this market. This market is fragmented due to the presence of many local and global players.

Over the next few years, there will be a lot of strategic moves like mergers or acquisitions in the market. BVI purchased Malosa Medical in April 2017 as a supplier and manufacturer of single-use surgical tools. This acquisition was done to expand its product range of single-use devices in the field of Ophthalmology.

Market Report Scope Single-Use Ophthalmic Surgical Equipments

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2015 to 2026. Grand View Research has divided the global single-use market for ophthalmic surgical instruments based on product type, region, end-use and application.

• Product Outlook (Revenue USD Million, 2015-2026)

  • Forks

  • Speculum

  • Nucleus Rotators & Choppers

  • Curettes

  • Cannulas

  • Knives

  • OVD

  • Other

• Application Outlook (Revenue USD Million, 2015-2026)

  • Diabetic Retinopathy

  • Cataract Surgery

  • Glaucoma Surgery

  • Refractive Surgery

  • Corneal Surgery

  • Vitreo-Retinal surgery

  • Other

• End-use Outlook (Revenue USD Million, 2015-2026)

  • Hospitals

  • Ophthalmic clinic

  • ASCs

  • Other

• Regional Outlook (Revenue USD Million, 2015-2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

Up Market Research published a new report titled “Single Use Ophthalmic Surgical Devices Market research report which is segmented by End Use (ASCs, Hospitals), by Application (Refractive Surgery, Cataract Surgery), by Product (Forceps, OVDs), By Players/Companies INC; and Carl Zeiss Meditec AG The market is highly fragmented with the presence of a large number of global as well as local players, BVI; BLINK MEDICAL; Stephen Instruments; Surgitrac Instruments UK Limited; Sterimedix Ltd; Accutome Inc; Alcon Vision LLC; Rumex International Co; BAUSCH & LOMB INCORPORATED; APPASAMY ASSOCIATES; MANI”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Single Use Ophthalmic Surgical Devices Market Report Segments:

The market is segmented by End Use (ASCs, Hospitals), by Application (Refractive Surgery, Cataract Surgery), by Product (Forceps, OVDs).

Single Use Ophthalmic Surgical Devices Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Single Use Ophthalmic Surgical Devices Market

Overview of the regional outlook of the Single Use Ophthalmic Surgical Devices Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Single Use Ophthalmic Surgical Devices Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Single Use Ophthalmic Surgical Devices Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. ASCs

                2. Hospitals

                1. Refractive Surgery

                2. Cataract Surgery

                1. Forceps

                2. OVDs

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Single Use Ophthalmic Surgical Devices Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Single Use Ophthalmic Surgical Devices Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.