Ophthalmic Knives Market to Reach a Value of US$ 460 Mn by 2027
As visual impairment and blindness emerge as critical public health issues, a number of healthcare professionals and ophthalmologists are opening up to discussions on these aspects. As the world battles these scenarios, the focus remains on vision quality improvement with minimally-invasive procedures, bringing precise surgical instruments into the spotlight. While a lot is said and done about the surgical instruments used in the field of ophthalmology, improving the efficacy of these instruments remains paramount for manufacturers. In case of surgical instruments such as ophthalmic knives, smooth penetration and accurate incision remains paramount requirements that need be to be addressed.
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TMR’s new study reveals exclusive insights into the ophthalmic knives market, allowing readers to gain a holistic market glance. According to the TMR study, revenue from the ophthalmic knives market was valued at nearly US$ 298.40 million in 2018. Remarkable technology advancements in eye care, tremendous growth in the number of eye surgeries, and an increasing aging population are likely to fillip the growth of the ophthalmic knives market in the foreseeable future.
Rising incidents of ophthalmic disorders, coupled with the growing risk and complexities of surgeries remain significant propellants for innovations in ophthalmic surgical devices and instruments, spawning the availability of precise and advanced microsurgical ophthalmic knives. Moreover, the remarkable uptick in the preference for precision surgical instruments across a slew of applications has further offered growth prospects for the providers of ophthalmic knives.
Single-Use Ophthalmic Knives Gain Traction – The preference for sterile surgical instruments has been around for long, where healthcare professionals emphasize on high-level hygiene, particularly during surgeries. Moreover, minimizing the risk of cross contamination from exposure to elements has been a vital necessity for ophthalmologists. Aligned with this, numerous sterilization regulations regarding reusable ophthalmic knives are stringent, resulting in an inclination towards single-use disposable ophthalmic knives.
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Technological Developments Spark a Wave of Innovation – The expansion of the healthcare industry is closely linked to key technological advancements carried out globally. Ultra-precision and ease achieved in ophthalmic surgical instruments such as ophthalmic knives with the incorporation on cutting-edge technology is likely to provide a push to the applications of these devices. Growing Adoption of Microsurgeries to Create Future Scope - Continuous technological developments have led precision to become a mainstream aspect across the healthcare sector. Spawned by this evolution, there is a major adoption of microsurgeries cited across numerous healthcare fields, including ophthalmology. As microsurgery is gaining ground, the utilization of precision medical instruments, such as ophthalmic knives, is likely to spur.
The rising aging population along with an expansion in the global economy has positioned ophthalmic surgical instrument providers at an essential inflection point in the ophthalmic industry. Inspired by similar scenarios in the ophthalmic knives market, market competitors are implementing unique success strategies to gain an edge over their competitors. Key providers of ophthalmic knives are emphasizing on expanding their businesses in the global market. In an attempt to make their products available on a global scale, providers are expanding their distribution networks to support their broader objective of exporting ophthalmic surgical devices, not just to local but also international markets. A strong distribution channel coupled with the emergence of local players is expected to create major opportunities for stakeholders.
Investments centered at expanding healthcare infrastructure and key initiatives taken by the governments of developing countries such as India to offer clinical care providers with precise and accurate surgical instruments have created growth opportunities for ophthalmic knives market players. Furthermore, players are tapping the opportune potential in Asia on account of the significant rate of the import of medical devices observed across developing countries in the region. With such scenarios, key ophthalmic knives market players are emphasizing on expansion in developing countries. The choice of customization offered by the providers of ophthalmic knives is offering immense flexibility to the end users. Contract manufacturing enables companies to fulfil the targeted needs of the clients. Companies such as Unique Technologies offer contract manufacturing, and enable customers to access their custom manufacturing facilities and simple inventory management. The perquisites of maintaining healthy relationships with trustworthy contract manufacturers are further enabling the rapid penetration of competitors in the ophthalmic knives market.
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