Ophthalmic Handheld Surgical Instruments Market Size, Share & Trends Analysis Report By Product (Scissors, Ophthalmic Knives), By End Use (Hospital, Ophthalmic Clinic), By Region (APAC, MEA), And Segment Forecasts, 2020 - 2027

Report Overview

The global ophthalmic handheld surgical instruments market size was valued at USD 2.0 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 4.8% from 2020 to 2027. As the vulnerability to develop ocular disorders increases with age, the rising prevalence of eye disorders, such as glaucoma, cataract, and vitreoretinal disorders, is anticipated to propel the demand for ophthalmic handheld surgical tools. Technological advancements and increasing preference for minimally invasive surgical options that provide permanent solutions to common ophthalmic conditions are also expected to boost the market growth. The advent of minimally invasive surgical techniques having potential advantages, such as shorter recovery periods and shorter turnaround time in the treatment of glaucoma and cataract, has increased the average number of ophthalmic surgeries performed worldwide.

Various government and non-government programs providing financial assistance to patients for ophthalmic surgeries are anticipated to play a crucial role in the growth of the market. For instance, in March 2017, the government of India has invested USD 108 million in a scheme that provides financial assistance of approximately USD 30 to each patient choosing cataract surgery till 2022.

In addition, the government also provides grants to NGOs to provide free ocular surgeries under the National Programme for Control of Blindness (NPCB) scheme to underprivileged patients living in remote areas. Slower approval of minimally invasive surgery tools and shortage of ophthalmic surgeons globally are the factor anticipated to hinder the market growth.

The shortage of ophthalmic surgeons means longer wait times, which results in an increased preference for alternative treatment methods over ocular surgeries. In 2019, in the U.S., approximately 10,000 ophthalmologists were performing 4 million cataracts surgeries. On the other hand, the cases of cataract are expected to double during the forecast period, which will significantly increase the number of surgeries.

Product Insights

The ophthalmic knives segment held the largest revenue share of over 71% in 2019. These knives are available in different shapes, styles, and sizes. There are two types of knives used in eye surgery - diamond and disposable knives. The diamond knives have higher demand owing to their advantages, such as precision incisions, reusability, cost efficiency, and durability. Whereas disposable knives are a better fit for small ophthalmic centers performing a lower volume of ocular surgeries.

Scissors are the second-most commonly used ophthalmic handheld instruments. They are widely classified based on application as conjunctival, corneal, general ophthalmic, IOL, iris, stitch, tenotomy, vannas, and strabismus scissors. Regular handheld surgical instrument kits designed for trabeculectomy and extracapsular cataract extraction include approximately 3 to 6 different types of scissors.

The ophthalmic handheld surgical instruments are made of raw material, such as titanium and stainless steel, which is easily available through local suppliers, thus, keeping the threat of market entrance at a low level. It is estimated that 3-10 different types of forceps are present in the surgical tray for ophthalmic surgeries, which can be attributable to its significant market share in the market. Moreover, market players are focusing on developing forceps that are lightweight, durable, and corrosion-resistant. For instance, Microsurgical Technology developed Gianetti MICS capsulorhexis forceps with an ultimately thin shank and tip enabling glaucoma surgeries to be performed more precisely.

End-use Insights

The hospital segment held the largest market share of more than 65% in 2019. The procurement of ophthalmic handheld surgical tools is mostly single-time activity due to their longer shelf life. Increasing number of mobile ophthalmic care centers is expected to contribute significantly to the segment growth. For instance, the African Eye Foundation has invested USD 16 million to construct a high-class eye care facility to offer comprehensive ophthalmic surgical services for the people of Cameron, Central Africa.

Ophthalmic clinics held the second-largest share in 2019 and are expected to witness the fastest CAGR over the forecast period. Factors, such as the introduction of advanced and cost-effective surgical devices and long wait times at hospitals, are expected to boost the growth of this segment during the forecast period. The other segment includes academics, research centers, and mobile ophthalmic units.

The segment is expected to expand at a healthy CAGR over the forecast period. Initiatives, such as public awards programs to alleviate the myths and fear of ocular surgery among patients and numerous public outreach programs, are expected to drive the growth of this segment. For instance, CBM Peru program provides cataract surgery services to people living in remote African regions through mobile outreach camps.

Regional Insights

North America captured the largest market share of over 35% in 2019. The regional market will expand further at a steady CAGR from 2020 to 2027 on account of a high prevalence of ocular disorders, the presence of key market players, and availability of efficient reimbursement policies. For instance, healthcare payers, such as Medicare and Medicaid, consider cataract surgery as a medically necessary service and thus offer it free of cost. Also, with ophthalmic surgery services resuming after the Covid-19-induced pause, the product demand is anticipated to have a steep rise.

The market in Europe is expected to experience significant growth during the forecast period. The presence of top-class eye care facilities and the quick adoption of advanced technologies are the factors contributing to the region’s growth. According to the Eurostat paper published in 2018, cataract surgery was among the top five surgical operations performed in hospitals around Europe. There were around 4.3 million cataract surgeries performed in Europe in 2018, with countries, such as Germany, France, Sweden, and Belgium, having healthy cataract surgical rates.

Asia Pacific is estimated to be the fastest-growing regional market during the forecast period. The significant gap between the demand and supply for eye surgery services in countries, such as India, China, Japan, and other Southeast Asian countries, is anticipated to fuel the market growth. High unmet needs are driving service providers to develop and plan new eye care facilities in these regions. For instance, in December 2019, Dr. Agarwal’s Eye Hospital, a leader in eye care chain hospitals, has planned 60 new eye hospitals to be built across India and other south Asia countries in the next 2 to 3 years.

Key Companies & Market Share Insights

Major companies are collaborating with healthcare centers to provide a long-term supply of ophthalmic surgical tools. For instance, in June 2020, BVI signed a strategic partnership with Lovell Government Services and assured the supply of ophthalmic handheld surgical instruments to all Lowell’s eye care facilities present across the U.S.

Companies are also engaged in various strategies, such as mergers and acquisitions, product launches, partnerships, and joint ventures to gain a higher market share. For instance, in January 2019, MellingMedical, a medical devices and pharmaceutical company, partnered with Katena Products Inc. The partnership program will help Katena’s surgical instruments products to channel into federal hospitals, as MellingMedical has a strong distribution network across federal healthcare facilities in the U.S. Some of the prominent players in the global ophthalmic handheld surgical instruments market include:

• BVI

• Accutome, Inc.

• Katena Products, Inc.

• Haag-Streit Group

• Appasamy Associates

• Millennium Surgical Corp.

• Asico, LLC.

• Katalyst Surgical

• Inka Surgical Instruments

• Surgical Holdings

Ophthalmic Handheld Surgical Instruments Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global ophthalmic handheld surgical instruments market report on the basis of product, end use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)

  • Forceps

  • Scissor

  • Chopper

  • Ophthalmic Knives

  • Cannula

  • Others

• End-use Outlook (Revenue, USD Million, 2016 - 2027)

  • Hospital

  • Ophthalmic Clinic

  • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE