Global demand for ophthalmic sutures market was valued at approximately USD 314.0 million in 2018, and is expected to generate revenue of USD 470.6 million by end of 2025, growing at a CAGR of 6.0% between 2019 and 2025.
According to the report, global demand for ophthalmic sutures market was valued at USD 314.0 million in 2018, and is expected to generate revenue of USD 470.6 million by end of 2025, growing at a CAGR of 6.0% between 2019 and 2025
The report covers forecast and analysis for the global ophthalmic sutures market. The study provides historic data from 2016 to 2018 along with forecast from 2019 to 2025 based on revenue (USD Million). In-depth secondary research is used to ascertain overall market size, top industry players, top product, industry associations, etc. Macro-economic indicators such as healthcare industry outlook, healthcare spending, research funding, GDP along with company websites, company annual reports, white papers, financial reports and other saws have also been considered to arrive at the indicated market numbers.
Staples, wound closure strips, sutures, hemostats adhesives and tissue sealants are the most commonly used wound closure products among which sutures are low-cost, generic products. Absorbable and non-absorbable sutures are most commonly used in ophthalmic surgeries. Absorbable sutures have advantages over non-absorbable sutures as these get absorbed by the human body and do not require repeat surgeries for its removal. Growing incidences of eye diseases in developing as well as developed countries has positively impacted the ophthalmic sutures market globally.
The study provides a decisive view on the ophthalmic sutures market by segmenting the market based on product, type, application, end user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. The market for ophthalmic sutures is segmented on the basis of product into absorbable sutures, and non-absorbable sutures. The absorbable sutures segment held major share of the market in 2018 since these sutures have the ability to absorb and break down harmlessly within the body over a certain period that to without intervening normal body functioning. Based on type the market is segmented into natural sutures, and synthetic sutures. Synthetic sutures held major share of the market in 2018 due to its high usage, and ability to degrade by hydrolysis causing less inflammation at the wound site. Besides, these are composed of polypropylene, polyester, and polyamide which also increase its durability.
Based on application the market is bifurcated into corneal transplantation surgery, cataract surgery, vitrectomy surgery, iridectomy surgery, oculoplastic surgery, and others. Cataract surgery held major share of the market in 2018 due to rising prevalence of visual impairment caused due to cataract globally. Cataract surgery techniques and technology have improved significantly over the years. Currently, cataract surgeries are most frequently performed in many developed countries. Based on end user the market is bifurcated into ambulatory surgical centers, hospitals, and others. Ambulatory surgical centers are likely to grow at high CAGR in the forecast period as ophthalmic surgeries do not require long hospital stays. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa with its further bifurcation into major countries. North America held major share of the market in 2018 due to rising geriatric population base in the U.S., the need for ophthalmic surgeries continues is rising. As per the stats provided by WHO, number of people aged 65 years and above in this country is likely to reach above 75 million by 2030, thus paving a positive impact on product demand in the forecast period.
The study also includes drivers and restraints for the ophthalmic sutures along with the impact they have on the demand over the forecast period. Besides, the report includes the study of opportunities and trends available in the ophthalmic sutures market on global level. Demographic shift has led to rise in incidence of different ocular and ophthalmic conditions which includes age-related macular degeneration, diabetic retinopathy, cataract, and glaucoma. As per the stats provided by American Academy of Ophthalmology, over than 24 million people aged 40 years and above suffer from cataracts alone. Thus large number of people suffers from eye disorders that further opt for surgical procedures that help them to improve their vision, further boosting the market growth for ophthalmic sutures.
The report also provides company market share analysis in order to give a broader view of the key players in the market. Industry insights and information is delivered in the required information. ZMR develops a list of industry players (manufacturers), distributors, retailers and industry experts. Some of the players in the market for ophthalmic sutures include Aurolab, DemeTECH Corporation, Mani, Medtronic, Surgical Specialties Corporation, Unilene, Johnson & Johnson, FCI Opthalmics, Teleflex Incorporated, B. Braun Melsungen AG, Accutome, and Assut Medical.
This report segments the global ophthalmic sutures market as follows:
Global Ophthalmic Sutures Market: Product Segment Analysis
Global Ophthalmic Sutures Market: Type Segment Analysis
Global Ophthalmic Sutures Market: Application Segment Analysis
Global Ophthalmic Sutures Market: End User Segment Analysis
Global Ophthalmic Sutures Market: Regional Segment Analysis