Increased Surgery Volume Will Fuel Growth in Single-Use Ophthalmic Surgical Device Market

October 1, 2016: By William Freeman

The global ophthalmic single-use surgical product market is expected to generate $2.8 billion in sales in 2016 and grow at a healthy rate for the next five years. Factors bolstering the segment include an aging world population, which will contribute to steady growth in ophthalmic surgeries, and rising concerns over cross-contamination.

Market Scope expects the market to grow to $3.5 billion by 2021 at a CAGR of 4.2 percent.

The single-use product market includes a diverse list of device types: viscoelastic solutions, surgical knives, balanced salt solutions, drapes, disposable instruments, fluid management devices, sutures, eye shields, ocular dyes, cautery pencils, and custom packs. Viscoelastic solutions represent the single largest category. Disposable instruments are the second largest. They will experience the highest rate of growth over the next five years, due in part to demand for disposable instruments and increased demand for smaller-gauge micro-incision instruments. Newer smaller gauge micro-incision disposable instruments are more difficult for hospitals and ASCs to sterilize without damaging them, driving demand for disposable versions.
Procedure packs represent the third largest segment, followed by knives and balanced salt solution.

Growth below market average is anticipated for several product categories, including knives, sutures, and cautery pencils. These products will be adversely impacted by a trend toward micro-incisions.

Disposable devices are used across all types of ophthalmic surgery, but they are employed most often in cataract surgery. Three-quarters of 2016 revenues in the disposable surgical device market will stem from cataract surgeries. As the number of cataract surgeries worldwide continues to grow—with nearly 25 million cataract surgeries in 2016 growing at 3.6 percent per year—cataract surgery is expected to continue to dominate the market.

Retinal surgery is another large segment of the worldwide market, followed by refractive surgery. Other surgical subspecialties, including glaucoma and oculoplasty, account for smaller revenues.
In Market Scope’s recently released 2016 Single-Use Ophthalmic Surgical Device Report, we analyze product sales in eight regions of the world: the US, Western Europe, Japan, Other Wealthy Nations (OWN), China, India, Latin America, and Rest of World (ROW). The US, Western Europe, and Japan are expected to account for more nearly 70 percent of total revenues in 2016.

China, Latin American, and India are forecast to experience the highest growth rates. Single-use surgical device revenues in those markets are expected to grow at twice the rate of developed nations, with sales driven by expanding economies, increased demand for ophthalmic surgeries, improved health care delivery systems, and rapid growth in their elderly populations.

Alcon is by far the largest competitor in the single-use surgical device market. The company holds the lead position in a number of categories of disposables, including OVDs, balanced salt solutions, knives, drapes, sutures, fluid management devices, and procedure packs. In order to market its broad line of surgical products, Alcon employs a very large direct sales organization in the US and affiliate operations in most major countries. The company’s surgical packaging operation is also the world’s largest. Other significant competitors include Abbott Medical Optics, Bausch + Lomb, and Beaver-Visitec. More than 80 smaller market participants compete in the market.

Market Scope is pleased to announce the availability of its “2016 Single-Use Ophthalmic Surgical Device Report”. The report is in its sixteenth edition. Click the following link: 2016 Single-Use Ophthalmic Surgical Products Report to view a detailed description and table of contents for this report or call (314) 835-0600 for more information.

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