Market Scope expects the global ophthalmic single-use surgical products market to generate $3.1 billion in sales in 2017 and grow at a compound annual growth rate (CAGR) of 4.2 percent to $3.7 billion by 2022.
Several factors will contribute to growth in the ophthalmic single-use surgical products market over the next five years. These include: increased volume of ophthalmic surgeries, 3.1 percent growth in the 60 and older population, growing concerns over cross-contamination, introduction of new surgical procedures and new surgical techniques, the trend toward micro-incision ophthalmic surgery, increased labor costs, and pressure to reduce per procedure costs.
Growth in the ophthalmic single-use surgical products market is highly dependent on the number of ophthalmic procedures performed. Market Scope estimates that 41.4 million ophthalmic surgeries will be performed worldwide in 2017. We expect cataract surgery to account for nearly 74 percent of single-use device revenues in 2017. Retinal surgery is the second largest market opportunity, followed by oculoplasty and refractive surgery.
Ophthalmic viscoelastic solutions (OVDs) represent the largest segment and account for just over one-fourth of single-use surgical product revenues. Disposable instruments are the second largest category, followed by disposable and limited-reuse knives, procedure packs, and balanced salt solutions.
More than 100 companies provide ophthalmic single-use surgical device products. Alcon is the largest competitor in the market with a market share of nearly 48 percent. Other significant competitors include J&J Vision, Bausch + Lomb, Beaver-Visitec, and Surgical Specialties. Smaller market participants, including 3M and Santen, compete for the remaining share of the ophthalmic single-use surgical device market.
Market Scope published its 2017 Single-Use Ophthalmic Surgical Products Report: A Global Market Analysis for 2016 to 2022 in September 2017. It is the only report that provides in-depth coverage of the ophthalmic single-use device market. In the report, we review cataract surgery, the dominant procedure in this market, as well as cataract surgery providers worldwide. We analyze the following market segments: viscoelastics, knives, disposable instruments, balanced salt solutions, custom packs, drapes, sutures, fluid management devices, ocular sealants, ocular dyes, capsular tension rings, and cautery pencils and provide data for 2016, and we forecast market performance through 2022. Our forecast subdivides the ophthalmic single-use device market into eight geographic/economic analytic categories: the US, Western Europe, Japan, Other Wealthy Nations, China, India, Latin America, and Rest of World.