The global ophthalmic sutures market size is expected to reach USD 532.8 million by 2026, expanding at a CAGR of 6.4% over the forecast period, according to a new report by Grand View research, Inc. Key factors driving the market are rising geriatric population prone to eye-related disorders, coupled with increasing awareness regarding advanced surgical procedures. Increasing aging population is expected to contribute to the rising burden of glaucoma around the world. According to the American Society of Ophthalmology, cataract alone affected over 24.4 million Americans aged 40 or more in 2016.
Visual
impairment is a global health concern. According WHO, it is estimated that
around 1.3 million people live with some form of vision impairment currently.
Technological advancements in the field of ophthalmology, such as self-sealing
incisions, are expected to fuel market growth. Other factors driving the market
are increasing awareness about various eye diseases, coupled with increasing
number of ophthalmologists and better reimbursement policies.
Various
government initiatives, increasing investments in research and development, and
rising healthcare spending are also expected to propel the market over the
forecast period. Furthermore, increasing number of ambulatory surgical centers
and single-day surgeries is expected to propel the market. Most of the
ophthalmic procedures are single-day surgeries, which do not require hospital
stay. Thus, with increasing number of outpatient surgeries, the ophthalmic
sutures market is expected to witness lucrative growth over the forecast
period.
Full Research Report On Ophthalmic Sutures Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/ophthalmic-sutures-market
Ophthalmic Sutures
Market Report Highlights
- Based on type, the synthetic
sutures segment dominated the market in 2018, which can be primarily
attributed to low rate of inflammatory reactions around wound site and
higher durability
- By way of absorption
capacity, non-absorbable sutures led the market owing to benefits such as
reduced chances of postoperative surgical infection and its ability to be
removed after few days of surgery
- On the basis of application,
the cataract surgery segment was valued at USD 130.8 million in 2018 owing
to high prevalence rate and large number of surgical procedures
- Based on end use, ambulatory
surgical centers held the largest share of more than 40.0% in 2018, fueled
by large number of single-day procedures, which do not require hospital
stay
- North America held the
dominant share owing to favorable reimbursement policies, local presence
of key players, and supportive government initiatives
- Key players in the market
include Accutome, Inc.; Assut Medical Sarl; Alcon Inc.; Aurolab; B Braun
Melsungen AG; DemeTech Corporation; FCI Ophthalmic Inc.; Medtronic Plc;
Rumex International Co.; Surgical Specialties Corp; Teleflex Incorporated;
and Unilene.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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