Disposable Ophthalmic Surgical Products Market to Increase at Steady Growth Rate 2018-2028
Disposable ophthalmic surgical products are used in eye surgeries. They include a wide variety of articles such as drapes, solutions and stains, instruments such as knives and others. The increasing number of screenings and ophthalmic surgeries is the prime factors expected to drive the growth of the disposable ophthalmic surgical products market. According to the Centre for Disease Control and Prevention, about 11 million Americans over age 12 need vision correction. The American Academy of Ophthalmology estimates that diseases such as cataract, and glaucoma affect more than 24.4 million and 2.7 million Americans age 40 and older, respectively. The situation has been compounded by the emergence of serious diseases such as age-related macular degeneration (AMD) with almost 2.1 million Americans age 50 suffering from it.
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Disposable Ophthalmic Surgical Products Market: Drivers and Restraints
The growing prevalence of diabetes is another indirect clinical driver of the disposable ophthalmic surgical products market as it is accountable for a large number of retinopathies accounting for nearly 7.7 million cases. Almost 29 million Americans have diabetes affecting 12.3% of adults age 20 and older. The growing focus of governments towards elimination of cataract and the inclusion of cataract surgery in health plans in many developing nations is also expected to drive the demand for disposable ophthalmic surgical products.
The growing success rate of ophthalmic surgeries coupled with the developing healthcare infrastructure and favourable reimbursements are also expected to drive the growth of the disposable ophthalmic surgical products market. However, the high cost of surgery, risks such as infection and the traditional lack of focus on ophthalmic care are factors expected to hamper the growth of the market for disposable ophthalmic surgical products.
Disposable Ophthalmic Surgical Products Market: Overview
The global disposable ophthalmic surgical products market is fragmented resulting in high pressure on pricing with numerous players dotting the scene. Vendors are engaged in development of disposable ophthalmic surgical products owing to attractive advantages such as safety owing to emergence of antibiotic-resistant bacteria and threat of cross contamination, consistent quality, low tolerance demanded by cataract surgery, and the economics of single use which eliminates maintenance.
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Disposable Ophthalmic Surgical Products Market: Regional Outlook
The global disposable ophthalmic surgical products market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan and Middle East & Africa. North America dominated by the U.S. accounts for a large share of the global disposable ophthalmic surgical products market owing to the high awareness and large number of ophthalmic surgery procedures.
North America is followed by Europe which is expected to be led by Germany, France and the U.K. The large healthcare infrastructure of Europe representing approximately 10 % of GDP is a significant driver of the European disposable ophthalmic surgical products market.
The disposable ophthalmic surgical products market is expected to shift in favour of Asia Pacific and Middle East and Africa. The Middle East and Africa disposable ophthalmic surgical products market is expected to be dominated by the wealthy gulf economies of Saudi Arabia, Kuwait, UAE and Qatar. However, the poor income of African economies coupled with poor social conditions are hampering the disposable ophthalmic surgical products market in Africa.
Disposable Ophthalmic Surgical Products Market: Key Players
Examples of some of the key vendors operating in the global disposable ophthalmic surgical products market are Bausch + Lomb Incorporated, Alcon (Novartis International AG), DTR Medical Ltd, Sterimedix Ltd, Beaver-Visitec International, Surgitrac Instruments UK Limited, Blink Medical, katena products, Inc., Malosa Medical, and Medicel, among others.
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