Ophthalmic Handheld Surgical Instruments Market Growth & Trends

The global ophthalmic handheld surgical instruments market size is anticipated to reach USD 3.0 billion by 2027 registering a CAGR of 4.8%, according to a new report by Grand View Research, Inc. Rising prevalence of ocular disorders, such as glaucoma, cataract, and refractive errors, and high adoption of advanced surgical instruments are the factors expected to drive the market growth. Increasing patient preference for treatment methods that provide long-term and immediate relief from symptoms is one of the primary factors driving the market. In addition, the presence of several initiatives undertaken by various governments and NGOs to conduct awareness programs and surgical outreach camps is anticipated to aid market growth.

Increasing preference for minimally invasive surgical options and rapid technological advancements are expected to replace traditional surgical techniques. The growing popularity of ambulatory surgery centers and patient preference for a minimal hospital stay are also expected to boost the demand for advanced handheld surgical tools during the forecast period. Obsolete technologies due to high competition and shortage of ophthalmic surgeons globally are some of the factors anticipated to hinder the market growth. The shortage of ophthalmic surgeons means longer wait times, which results in high demand for alternative treatment methods over ocular surgeries.

Ophthalmic Handheld Surgical Instruments Market Report Highlights

  • The ophthalmic knives product segment will account for the largest revenue share of the market by 2027
  • However, ophthalmic knives are expected to be gradually replaced by advanced laser cutting systems
  • The scissors segment is anticipated to register the fastest CAGR during the forecast period
  • The hospital end-use segment captured the largest market share in 2019 and is expected to grow at a significant CAGR over the forecast period
  • This growth can be attributed to the factors, such as large patient pool and availability of technologically advanced instruments & skilled professionals, in hospitals
  • North America held the largest market share as the U.S. is one of the majorsuppliers of ophthalmic handheld surgical instruments globally
  • Asia Pacific is expected to be the fastest-growing regional market over the forecast period due to rising product demand in countries, such as China, India, and Japan