Ophthalmic Handheld Surgical Instruments Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, China, Germany, Canada, UK - Size and Forecast 2024-2028

Ophthalmic Handheld Surgical Instruments Market Size 2024-2028

The ophthalmic handheld surgical instruments market size is estimated to grow by USD 227.5 million at a CAGR of 2.09% between 2023 and 2028. The increasing detection of ophthalmic diseases is driving the demand in the market. This helps identify conditions, primarily in the geriatric population, including but not limited to myopia, cataracts; glaucoma, diabetic retinopathy, etc. According to 2021 figures, 28 million cataract procedures annually in the world, with around 60,000 per day. The prevalence of other diseases like diabetes and hypertension also increases the likelihood of contracting optical diseases. Hence, these factors are likely to positively impact the growth of the market.

What will be the size of the Market During the Forecast Period?

To learn more about this report, Request Free Sample

Market Segmentation by End-user, Product, and Geography Analysis

Ophthalmic conditions encompass a spectrum of ocular conditions, including refractive errors and age-related issues like macular degeneration. With the rising demand for eye care services, ambulatory surgery centers have become pivotal in providing efficient and patient-centric care. As patients seek optimal outcomes and shorter recovery periods, the demand for advanced ophthalmic handheld surgical instruments surges. However, challenges such as the scarcity of skilled ophthalmology surgeons and the need for precision incisions persist. Innovative solutions like disposable knives and diamond knives are revolutionizing surgical practices, ensuring precision and safety in every procedure. Increased public awareness and routine healthcare services contribute to improved patient care and outcomes in elective surgeries.

End-user analysis

The market share growth by the hospital segment will be significant during the forecast period. Most of the demand is due to the fact that hospitals perform a variety of procedures, such as cataracts, glaucoma, and corneal surgeries, and thus, the segment drove demand for the global OHSI market in 2023. They have specialized departments that utilize cutting-edge surgical tools to provide diverse eye care services which is primarily to address the needs of the elderly.

Get a glance at the market contribution of various segments View a PDF Sample

The hospital segment was valued at USD 1.29 billion in 2018. Modern technological advances and minimally invasive surgical methods also have increased their demand and will boost the growth of the market in focus during the forecast period.

Product Analysis

In the market, the leading product type in 2023 was ophthalmic knives. They are essential instruments in cataract surgery, corneal transplantation, and refractive surgeries and are widely produced by various companies such as Alcon, Bausch + Lomb, and Moria. To enhance patient safety outcomes and accommodate surgeons, companies are emphasizing product innovation, accuracy, and safety. Some technological developments include the creation of micro-incisional and femtosecond laser-assisted knives. Hence, due to advances in surgical methods and the introduction of newer technologies, the market is likely to witness a steady growth pattern during the forecast period.

Regional Analysis

For more insights about the market share of various regions View PDF Sample now!

Asia is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period.

Another region significantly contributing to the market growth is North America. The major contributors to the OHHSI market in the region are the US and Canada due to increasing healthcare expenditure on ocular diseases and the greater number of new ophthalmology surgical devices. Additionally, the high prevalence of ocular diseases including cataracts, glaucoma, etc., prevalent diseases such as diabetic retinopathy in the growing geriatric population, and more ophthalmology surgeries performed also boost the demand for the OHSI market in the region during the forecast period. Greater awareness of eye diseases driven by both public and private organizations and rising public and private healthcare expenditures will also boost the growth of the regional OHSI market during the forecast period.

Buy Now Full Report and Discover More

Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

AddVision - The company offers ophthalmic handheld surgical instruments such as dual lumen cannula.

• Vision Pharmaceuticals Ltd.
• Appasamy Associates Pvt. Ltd.
• Aspen Surgical Products Inc.
• Bausch Health Co. Inc.
• BVI Holdings Ltd.
• Carl Zeiss Stiftung
• Corza Medical
• Devine Meditech
• Duckworth and Kent Ltd.
• Halma Plc
• INKA
• Iscon Surgicals Ltd.
• Lombart Instrument Inc.
• Mani Inc.
• Metall Zug AG
• Millennium Surgical Corp.
• P.W. Coole and Son Ltd.
• Pelion Surgical
• Precipart

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market is driven by various factors, including the prevalence of ocular conditions and refractive errors, which necessitate surgical interventions. Ambulatory surgery centers are witnessing increased demand due to patient preferences for outpatient procedures. However, challenges such as the scarcity of ophthalmology surgeons pose a significant hurdle. Trends indicate a shift towards disposable knives and precision incisions, enhancing safety and efficiency in surgeries. Additionally, advancements in technology are leading to the development of diamond knives for more precise procedures. Public awareness and routine healthcare services play crucial roles in addressing visual impairments and promoting eye health. There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. 

Significant Market Trends

The increasing medical tourism for low-cost ophthalmology surgeries is a key trend in the market. Patients from the US and Canada travel to developing countries such as Singapore, India, Mexico, South Korea, and Thailand due to high-quality medical services being provided by accredited hospitals and healthcare systems at far cheaper costs.

Additionally, they are accredited by international standard accreditation agencies, which ensure quality care such as the Joint Commission International (JCI) and the International Organization for Standardization (ISO). India is the world’s leader in the medical tourism industry due to its advanced infrastructure, technology, and well-trained surgeons, with LASIK surgery costs being 30% to 80% lesser than in developed countries like the US. Hence the above factors are likely to contribute to the growth of the OHSI market during the forecast period.  

Major Market Challenges

The shortage of skilled ophthalmologists is challenging market growth. A lack of expertise and skills to handle and use technologically advanced diagnostic and therapeutic tools is challenging the clinical practice of ophthalmology and, hence, the OHSI market as well.

Moreover, the reduced skilled human resources, lack of government funding, brain drain and poor coordination of resources, and the insufficient number of ophthalmology graduates particularly in developing countries also are major challenges for the market. Hence, these factors will hinder the growth of the global OHSI market during the forecast period.

Buy Now Full Report and Discover More

Customer Landscape

The market research report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.

Customer Landscape

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.

• End-user Outlook
  • Hospitals
  • Ophthalmic clinics
  • Others

• Product Outlook 
  • Ophthalmic knives
  • Forceps
  • Scissors and others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of World (ROW)
    • Australia
    • Argentina
    • ROW

You may also interested in below market reports:

Ophthalmology Surgical Devices Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast

Hand Held Surgical Instruments Market by End-user, Product, and geography - Forecast and analysis

Ultrasonic Energy Surgical Device Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, China, Japan - Size and Forecast

Market Analyst Overview

The market is driven by factors such as the increasing prevalence of conditions like age related macular degeneration and legal blindness, particularly among the older population. Surgical instruments like conjunctival scissors, corneal scissors, and iris scissors play vital roles in enhancing visual acuity and achieving the best correction for poor visions. Additionally, advancements in materials like titanium and stainless steel contribute to the durability and effectiveness of these instruments. Threats of market entry are mitigated by established players like MicroSurgical Technology and innovative devices like Gianetti MICS Capsulorhexis Forceps. Furthermore, the emergence of mobile ophthalmic units and clinics, along with cutting-edge surgical devices, supports enhanced patient care and surgical outcomes. Research centers and academic institutions drive continuous innovation in this field, further advancing ophthalmic surgical practices.

In addition, the demand for efficient ophthalmic services has led to the development of specialized handheld surgical instruments like general ophthalmic scissors, IOL scissors, stitch scissors, tenotomy scissors, Vannas scissors, and strabismus scissors. These instruments cater to various ophthalmic procedures, ensuring precise and effective outcomes. However, challenges such as turnaround times and the threat of market entry require continuous innovation and adaptation within the industry. Mobile ophthalmic care centers and the ophthalmic clinics segment play crucial roles in addressing these challenges by providing accessible and specialized care to patients. Furthermore, collaborations with academics institutions drive research and development efforts, leading to advancements in ophthalmic surgical techniques and instruments, ultimately benefiting both patients and healthcare providers. 

View Sample PDF at your Fingertips

What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Instruments Market between 2023 and 2028.
• Precise estimation of the market and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Vendor landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and Classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch