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Ophthalmic Surgical Instruments Market Size Projected To Reach 14.52 Billion By 2034 With A Cagr Of 6.4%
Ophthalmic Surgical Instruments Market
What Is the Projected Growth of the Ophthalmic Surgical Instruments Market?
In recent times, the market size for ophthalmic surgical instruments has seen a significant expansion. It is predicted to rise from $10.64 billion in 2024 to $11.35 billion in 2025, exemplifying a compound annual growth rate (CAGR) of 6.6%. Factors that have contributed to the remarkable growth in the past include an increase in the elderly population, a rise in the geriatric population, a higher occurrence of eye disorders, heightened awareness resulting in early diagnosis, and development of healthcare facilities.
Anticipations are high for a solid rise in the market size of ophthalmic surgical instruments in the coming years. It's forecast to escalate to $14.52 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 6.4%. The spurt in growth over the forecast spectrum can be owed to enhancements in eye care facilities, a surge in eye-related ailments, an uptick in the instances of glaucoma, an increasing worldwide occurrence of cataracts and glaucoma, and the growing popularity of ambulatory surgery centers. The forecast period will mark significant trends like the adoption of microsurgical tools, the evolution of phacoemulsification systems, the integration of femtosecond lasers, the application of vitrectomy machines, and the amplification of precision in diagnosing and curing eye disorders.
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What Are the Different Ophthalmic Surgical Instruments Market Segments?
The ophthalmic surgical instruments market covered in this report is segmented -
1) By Product: Microscopes, Illumination Devices, Phacoemulsification Instruments, Lasers, Intraocular Lenses, Shunts And Related Drainage Devices, Viscoelastic Devices, Surgical Accessories
2) By Application: Cataract Surgery, Glaucoma Surgery, Refractive Surgery, Vitreoretinal Surgery, Other Applications
3) By End User: Hospitals, Clinics, Ambulatory Surgery Centers, Other End Users
Subsegments:
1) By Microscopes: Operating Microscopes, Handheld Microscopes, Digital Ophthalmic Microscopes
2) By Illumination Devices: Slit Lamps, Surgical Headlights, Operating Room Lighting
3) By Phacoemulsification Instruments: Phacoemulsifiers, Phaco Tips, Handpieces and Foot Pedals
4) By Lasers: Diode Lasers, YAG Lasers, Argon Lasers
5) By Intraocular Lenses: Monofocal Intraocular Lenses, Multifocal Intraocular Lenses, Toric Intraocular Lenses, Accommodative Intraocular Lenses
6) By Shunts And Related Drainage Devices: Glaucoma Shunts, Drainage Implants
7) By Viscoelastic Devices: Ocular Viscosurgical Devices (OVDs), Balanced Salt Solutions (BSS)
8) By Surgical Accessories: Surgical Knives And Blades, Speculums, Surgical Sponges And Drapes
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What Are the Primary Drivers Shaping the Ophthalmic Surgical Instruments Market?
The escalating occurrence of eye-related disorders is anticipated to drive the expansion of the ophthalmic surgical instruments market. This surge in the occurrence of eye diseases is attributed to factors such as the aging populace, lifestyle factors like increased exposure to screens, and environmental elements such as pollution. Ophthalmic surgical instruments have a key role in diagnosing, treating, and managing several eye conditions by conducting meticulous procedures on the fragile structures of the eye. For example, data from the Centers for Disease Control and Prevention, a government agency of the US indicates that in May 2024, 17.2% of Americans aged 40 and above, approximately 20.5 million individuals, will suffer from cataracts in at least one eye. This number is projected to escalate to over 30 million by 2028. Hence, the escalating occurrence of eye-related disorders are contributing to the expansion of the ophthalmic surgical instruments market.
Which Companies Are Leading in the Ophthalmic Surgical Instruments Market?
Major companies operating in the ophthalmic surgical instruments market are Johnson & Johnson, Medtronic Plc, Alcon Inc., Hoya Corporation, Carl Zeiss Meditec AG, Santen Pharmaceutical, Corza Opthalmology, Lumenis, Haag-Streit Group, Accutome Inc., Millennium Surgical Corp, Appasamy Associates, Tomey Corporation, IndoSurgicals, Microtrack Surgicals, INKA Surgical Instruments, Surgical Holdings, Devine Meditech, Ambler Surgical, ASICO LLC.
What Are the Major Trends Shaping the Acellular Dermal Matrices Market?
Prominent businesses in the ophthalmic surgical instruments market are prioritizing the development of ground-breaking solutions, such as bladeless technology, with an aim to upgrade surgical processes and optimize patient results. The bladeless technology concept is centered around removing the need for rotating blades and replacing them with other means for activities like airflow or tissue removal, thereby enhancing safety and productivity. For instance, Sight Sciences, an American medical technology firm, introduced the SION Surgical Instrument in August 2022. This device, developed for the purpose of excising the trabecular meshwork and managing intraocular pressure in glaucoma patients, stands out with notable traits, such as a bladeless structure for secure tissue removal, meticulously engineered precision for unobstructed navigation around Schlemm's canal, superior maneuverability within the anterior chamber of the eye, single-use sterility to curtail infection risks, and heightened efficiency in tissue removal, marking it as a significant breakthrough in less invasive glaucoma surgery.
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What Are the Top Revenue-Generating Geographies in the Ophthalmic Surgical Instruments Market?
North America was the largest region in the ophthalmic surgical instruments market in 2024. The regions covered in the ophthalmic surgical instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Ophthalmic Surgical Instruments Market?
2. What is the CAGR expected in the Ophthalmic Surgical Instruments Market?
3. What Are the Key Innovations Transforming the Ophthalmic Surgical Instruments Industry?
4. Which Region Is Leading the Ophthalmic Surgical Instruments Market?
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