Global Ophthalmic Sutures Market Size By Type, By End User, By Absorption Capacity, By Application, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Ophthalmic Sutures Market size was valued at USD 17.9 Million in 2024 and is projected to reach USD 27.86 Million by 2031, growing at a CAGR of 6.27% during the forecasted period 2024 to 2031.
Global Ophthalmic Sutures Market Drivers
The market drivers for the Ophthalmic Sutures Market can be influenced by various factors. These may include
Growing Ophthalmic Surgeries The need for ophthalmic sutures is being driven by the increase in ocular surgical procedures, including cataract, refractive, and glaucoma surgeries.
Technological Developments Attracting healthcare providers and driving market expansion are advancements in ocular sutures, such as the creation of absorbable sutures with enhanced tensile strength and decreased tissue response.
Growing Ageing Population As people age, they become more susceptible to conditions affecting the eyes and need surgery, which increases the need for ophthalmic sutures.
Incidence of Eye disorders The need for ophthalmic surgeries and, in turn, the market for ophthalmic sutures are being driven by the rising incidence of eye disorders such as cataracts, diabetic retinopathy, and age-related macular degeneration.
Development of Healthcare Infrastructure Access to ophthalmic procedures is being made easier by improvements in healthcare infrastructure, particularly in emerging economies, which is fueling the market’s growth.
Awareness and Education By promoting prompt surgical treatments, rising patient awareness of eye health and efforts to educate the public about the value of early diagnosis and treatment of eye problems are driving market expansion.
Reimbursement Policies In certain areas, favourable reimbursement programmes for ophthalmic operations are making surgical treatments more accessible to patients, which in turn is increasing demand for ophthalmic sutures.
Developing Eye Care Technologies The use of advanced ophthalmic sutures that are compatible with these techniques is being fueled by advancements in eye care technologies, such as robotic and laser-assisted treatments. This is expected to drive market expansion.
Global Ophthalmic Sutures Market Restraints
Several factors can act as restraints or challenges for the Ophthalmic Sutures Market. These may include
Strict Regulations Because ophthalmic sutures are categorised as medical devices, they must adhere to stringent regulations and approval procedures. It might take a lot of time and money to meet these criteria, which can cause delays in the release of new products and higher costs for manufacturers.
Restricted Reimbursement regulations Reimbursement regulations for eye procedures might be uneven or limited in many different countries. The demand for ophthalmic sutures and related items may be impacted, as patients and healthcare providers may face financial difficulties as a result.
Expensive Cost of Advanced Sutures Advanced sutures for the eyes, like those composed of synthetic materials or coated with specific compounds, can be costly. Their adoption may be constrained by this expense, particularly in areas where healthcare affordability is a concern or where budgetary restraints are present.
Competition from Alternative Technologies As new technologies and treatment methods are introduced, the ophthalmology sector is always changing. The demand for ocular sutures may be impacted by procedures like laser surgery and implanted devices, which in some situations may eliminate the need for traditional sutures.
Sutures are necessary for wound closure during ophthalmic procedures, but there is a chance that they could become infected or cause other issues. Suture safety and efficacy must be guaranteed by manufacturers and healthcare professionals in order to reduce dangers, which can complicate the development and use of new products.
Limited Accessibility and Awareness In certain areas, patients and medical professionals may not be fully aware of the significance of high-quality ophthalmic sutures. Furthermore, market penetration may be impacted by restricted availability to improved sutures and related ophthalmic items in specific healthcare settings.
Global Ophthalmic Sutures Market Segmentation Analysis
The Global Ophthalmic Sutures Market is segmented on the basis of Type, End-User, Absorption Capacity, Application, and Geography.
Ophthalmic Sutures Market, By Type
Natural
Synthetic
Based on type, the market is segmented into Natural and Synthetic Ophthalmic Sutures. Synthetic Sutures are expected to have a major market presence in this segment due to their extensive usage. Its high usage in turn is primarily because of it being less inflammable on the wound site due to it being able to degrade via hydrolysis.
Ophthalmic Sutures Market, By End User
Hospitals
Ambulatory surgical centers
Others
Based on End User, the market is segmented into hospitals, ambulatory surgical centers and others. Ambulatory surgical centers have a relatively higher market presence due to a large number of surgeries being performed at these centers. According to a study conducted by University of Michigan Kellogg Eye Center researchers, the proportion of cataract surgeries performed at ASCs increased steadily to reach 73 percent in 2014, relative to just over 43 percent in 2001.
Ophthalmic Sutures Market, By Absorption Capacity
Absorbable
Non-absorbable
Based on End-User, the market is segmented into Absorbable and Non-Absorbable. Commonly made for Polypropylene, Nylon and Silk, Non-Absorbable Sutures had a higher market presence in this segment. The presence can be attributed to their benefits such as they can be removed from the body post operation to reduce the chances of post-operative infections. They also offer mechanical strength for longer durations.
Ophthalmic Sutures Market, By Application
Corneal transplantation Surgery
Cataract Surgery
Vitrectomy Surgery
Iridectomy Surgery
Oculoplastic Surgery
Others
Based on End-User, the market is segmented into Corneal transplantation surgery, Cataract surgery, Vitrectomy surgery, Iridectomy surgery, Iridectomy surgery, Oculoplastic Surgery. Cataract Surgeries made the most use of ophthalmic sutures at present and this trend is expected to continue in the forecast period. This can be due to the rising incidences of cataract in the geriatric population. Statistics from WHO (Feb 2021) say that approximately 94 million people are affected by cataracts globally.
Ophthalmic Sutures Market, By Geography
North America
Europe
Asia Pacific
Rest of the world
On the basis of Geography, The Global Ophthalmic Sutures Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific region is expected to grow at the highest CAGR in the forecast period. This can be due to a rising geriatric population in the countries from the Asia Pacific, a large number of ophthalmic disorder cases and associated health conditions such as diabetes.
Key Players
The major players in the Ophthalmic Sutures Market are
DemeTech Corporation
FCI Ophthalmic Inc.
Medtronic Plc
Rumex International Co.
Surgical Specialties Corp
Teleflex Incorporated
Accutome Inc.
Johnson & Johnson
B. Braun Melsungen AG
Alcon
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
DemeTech Corporation, FCI Ophthalmic Inc., Medtronic Plc, Rumex International Co., Surgical Specialties Corp, Teleflex Incorporated, Accutome, Inc.
SEGMENTS COVERED
By Type, By End User, By Absorption Capacity, By Application, and By Geography.
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