Ophthalmic knives Market Size, Share, Competitive Landscape and Trend Analysis Report, by Design, By Product, Application and End User : Opportunity Analysis and Industry Forecast, 2024-2032

Ophthalmic knives Market Research - 2032

The ophthalmic knives market size was valued at $385.70 million in 2023 and is projected to reach $565.88 million by 2032, registering a CAGR of 4.3% from 2024 to 2032. The growth of the ophthalmic knives market is driven by growing prevalence of eye disorders, particularly cataracts and vitreoretinal diseases. According to the World Health Organization (WHO), cataracts are the leading cause of blindness globally, with nearly 65.2 million people affected. The rising number of cataract surgeries, which reached approximately 28 million worldwide in 2023, fuels the demand for precise surgical instruments such as ophthalmic knives.

A ophthalmic knives is a specialized surgical instrument designed for precision cutting and incisions during eye surgeries, particularly in delicate procedures such as cataract and vitreoretinal surgeries. These knives are crafted from high-quality materials, often stainless steel or diamond, to ensure sharpness, durability, and minimal tissue trauma. Their design includes ultra-fine blades, allowing surgeons to make precise cuts in the eye's delicate structures, such as the cornea, lens capsule, or retina. The use of ophthalmic knives is critical in achieving successful outcomes in eye surgeries, as they facilitate clean, controlled incisions, reducing the risk of complications and enhancing the healing process.

Key Takeaways

• On the basis of the design, the slit knives segment dominated the market share in 2023. However, the straight knives segment is anticipated to witness the highest CAGR during the forecast period.
• On the basis of the product, the reusable ophthalmic knives segment dominated the market share in 2023. However, the disposable ophthalmic knives segment is anticipated to witness the highest CAGR during the forecast period.
• On the basis of application, the cataract surgery segment dominated the market share in 2023. However, the glaucoma surgery segment is anticipated to witness the highest CAGR during the forecast period.
• On the basis of end user, the hospitals segment dominated the ophthalmic knives market share in 2023. However, the others segment is anticipated to witness the highest CAGR during the forecast period.
• Region-wise, North America garnered the largest revenue share in 2023. However, Asia-Pacific is anticipated to grow at the highest CAGR of 5.2% during the forecast period.

Market Dynamics

Growth in incidences of ophthalmic diseases, such as cataracts, keratosis, and others, coupled with the rise in adoption of surgery to treat these types of ophthalmic disease, are some factors that drive the ophthalmic knives market. In addition, rise in geriatric population globally and surge in government initiatives to control visual impairment, further boost the growth of the ophthalmic knives market. The increasing adoption of minimally invasive surgeries is another significant driver, as ophthalmic knives are essential for making precise incisions with minimal tissue damage, thus reducing recovery time.

However, the market faces restraints such as the high cost of advanced surgical knives, which can be prohibitive for healthcare facilities in low-income regions. Additionally, the availability of alternative treatment options, such as laser-based procedures, poses a challenge to market growth. The stringent regulatory environment for medical devices also adds to the challenges, as obtaining approvals can be time-consuming and costly.

Despite these restraints, the market presents significant opportunities, particularly in emerging economies where the demand for advanced ophthalmic surgical procedures is rising. For instance, India and China are experiencing a surge in healthcare infrastructure development, which is expected to boost the adoption of ophthalmic knives. Technological advancements, such as the development of knives with enhanced sharpness and durability, offer growth prospects. Moreover, the increasing focus on customized and patient-specific instruments provides opportunities for manufacturers to expand their product portfolios.

Segmental Overview

The ophthalmic knives market is segmented into design, product, application, end user, and region. By design, the market is categorized into straight knives, crescent knives, slit knives, MVR knives, and others. By product, it is segregated into reusable ophthalmic knives and disposable ophthalmic knives. By application, the ophthalmic knives market is fragmented into glaucoma surgery, cataract surgery, vitreoretinal surgery, and others. By end user, it is divided into hospitals, ophthalmic clinics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

By Design

The slit knife segment held the largest ophthalmic knives market share in 2023 and is expected to remain dominant during the forecast period owing to slit ophthalmic knives being light in weight, easy to handle for physicians, and have blunt tips that offer seamless finishing. However, straight knives segment is expected to register the highest CAGR during the forecast period owing to its advantage of enabling single-handed blade retraction, which enhances surgical efficiency and ease of use. These possess superior sharpness and are also available in double bevel types. The metal blades in straight knives are disposable, which is driving their popularity over reusable blades owing to advantages, such as minimal cross-infection risks and affordability.

By Product

The reusable ophthalmic knives segment held the largest ophthalmic knives market share in 2023. This was attributed to great durability as they are manufactured with precision-engineered materials, which makes them reusable by physicians several times. However, disposable ophthalmic knives segment is expected to registered highest CAGR during the forecast period owing to its affordability, reduces the risk of cross-infection, and no risk of the knife becoming worn or damaged and this eliminates repair costs along with the risk of accidents or broken implements during surgery.

By Application

By application, the cataract segment held the largest ophthalmic knives market share in 2023, driven by the rise in number of cataract surgeries, which also increases the demand for ophthalmic knives. However, the glaucoma surgery segment is anticipated to register the highest CAGR during the forecast period. This growth is driven by the rise in prevalence of glaucoma and increase in awareness about glaucoma surgeries among the population.

By End User

By end user, the hospitals segment held the largest share of the ophthalmic knives market in 2023 primarily due to the high volume of ophthalmic surgeries performed in these settings. Hospitals are equipped with advanced surgical facilities and have access to a broad range of ophthalmic specialists, making them the preferred choice for complex eye procedures such as cataract and vitreoretinal surgeries. Additionally, hospitals often serve as centers for specialized care, which attracts a higher number of patients requiring precise surgical interventions, further driving the demand for high-quality ophthalmic knives.

However, the others segment is anticipated to register the highest CAGR during the forecast period. This is attributed to the increasing preference for outpatient procedures and advancements in surgical techniques. ASCs offer cost-effective, convenient, and efficient alternatives to hospital-based surgeries, attracting more patients and healthcare providers. Additionally, the growing focus on specialized eye care and the adoption of innovative technologies in these facilities drive the demand. Research centers contribute to the segment's growth by fostering innovations and developing new ophthalmic tools and procedures, further enhancing their market presence.

Competition Analysis

The major companies profiled in the report include, Amar Instruments, Bausch Health Companies Inc., Core Surgical Ltd, Diamatrix Ltd., Alcon, Inc., Kanchan Eye Instruments, Mani, Inc., Micromed International Pvt. Ltd., Omni Lens Pvt Ltd., and Paramount Surgical Ltd.