Ophthalmic Sutures Market Is Projected To Reach $532.8 Million By 2026: Grand View Research, Inc.

November 27 08:08 2019
Ophthalmic Sutures Market Is Projected To Reach $532.8 Million By 2026: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
The ophthalmic sutures market size was valued at USD 326.6 million in 2018 and is projected to register a CAGR of 6.4% during the forecast period.

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.

U.S. ophthalmic Sutures market size, by type, 2015 - 2026 (USD Million)

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.

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Further key findings from the report suggest:

  • 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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Grand View Research has segmented the global ophthalmic sutures market report on the basis of type, absorption capacity, application, end use, and region:

Ophthalmic Sutures Type Outlook (Revenue, USD Million, 2015 – 2026)

  • Natural

  • Synthetic

Ophthalmic Sutures Absorption Capacity Outlook (Revenue, USD Million, 2015 – 2026)

  • Absorbable

  • Non-absorbable

Ophthalmic Sutures Application Outlook (Revenue, USD Million, 2015 – 2026)

  • Corneal transplantation surgery

  • Cataract surgery

  • Vitrectomy surgery

  • Iridectomy surgery

  • Oculoplastic surgery

  • Others

Ophthalmic Sutures End-use Outlook (Revenue, USD Million, 2015 – 2026)

  • Hospitals

  • Ambulatory surgical centers

  • Others

Ophthalmic Sutures Regional Outlook (Revenue, USD Million, 2015 – 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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