According to FutureWise analysis the market for Ophthalmic Knives in 2023 is US$ 0.33 billion, and is expected to reach US$ 0.47 billion by 2031 at a CAGR of 4.50%.
Rising geriatric population and growing life expectancy are factors to cause a steep rise in ophthalmic disorders related to age. Coupled with this, lifestyle associated ophthalmic disorders including hypermetropia and myopia are expected to showcase integral growth over the forecast period. Most of these ophthalmic conditions are untreatable using drugs. A rising number of ophthalmic surgeries are projected to boost the market growth over the forecast period.
High introduction and competition of local players are the factors enabling market players to introduce advanced knives at economical prices. Major market players are emphasizing on developing manufacturing techniques coupled with advanced raw materials for the device price reduction.
Growing efforts of non-profit organizations to increase awareness about ophthalmic conditions and provision of affordable or free ophthalmic procedures in rural regions coupled with the inclusion of new reimbursement policies in developed nations are the factors expected to boost the number of ophthalmic surgeries, thus stimulating the market growth.