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Premium Report Details
Base Year: 2023
Companies covered: 14
Tables & Figures: 219
Countries covered: 18
Pages: 130
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Ophthalmic Sutures Market
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Ophthalmic Sutures Market Size
The global ophthalmic sutures market was valued at around USD 906.3 million in 2023 and is expected to reach around USD 1.6 billion by 2032 at a CAGR of 6.2% during the forecast period. Ophthalmic sutures are specialized surgical threads used in eye surgeries to close wounds, incisions, or tissues around the eye. They are crafted to be delicate, precise, and biocompatible, ensuring minimal tissue trauma while promoting optimal healing. Their design ensures maximum precision and safety for patients undergoing delicate eye surgery.
The ophthalmic sutures market is expanding at a notable pace due to the rise in the global burden of eye diseases and the increasing number of ophthalmic surgical procedures. In 2023, it is estimated that the total number of suspected cases of glaucoma is over 60 million worldwide. Similarly, nearly 200 million people worldwide are thought to be living with age related macular degeneration, a number expected to reach 288 million by 2040. These eye conditions like cataracts, glaucoma, diabetic retinopathy, and age-related macular degeneration are growing more prevalent due to growing aging population and lifestyle factors. All these conditions mostly require surgery, thereby increasing the demand for high quality ophthalmic sutures to close wounds.
In addition, development of new types of sutures such as biodegradable and antimicrobial-coated sutures are improving surgical outcomes and increasing adoption. There have also been innovations in ophthalmic surgical techniques such as the more common use of minimally invasive surgery, which increases the demand for softer, more specialized ophthalmic sutures, thereby driving market growth.
Ophthalmic Sutures Market Trends
The increasing burden of diabetes, one of the major risk factors for ophthalmic conditions, is fuelling the growth of the market.
Ophthalmic Sutures Market Analysis
By type, the market is categorized into natural and synthetic. The synthetic segment dominated the market with a revenue of USD 620.5 million in 2023.
By material, the ophthalmic sutures market is categorized into PGA, nylon, silk, polypropylene, and other materials. The PGA segment dominated the market with a revenue share of around 34.6% in 2023.
By coating, the ophthalmic sutures market is categorized as coated and uncoated. The uncoated segment is anticipated to dominate the market with a revenue of around USD 1.1 billion in 2032.
By material structures, the ophthalmic sutures market is categorized into monofilament and multifilament/braided. The monofilament segment is anticipated to dominate the market with the fastest growth rate of CAGR 6.4% till 2032.
By absorption, the ophthalmic sutures market is categorized into absorbable and non-absorbable. The non-absorbable segment dominated the market with a revenue share of around 83.2% in 2023.
By application, the ophthalmic sutures market is categorized into cataract surgery, corneal transplantation surgery, glaucoma surgery, vitrectomy, oculoplastic surgery, and other applications. The cataract surgery segment is anticipated to dominate the market with a revenue of around USD 772.6 million in 2032.
By end use, the ophthalmic sutures market is categorized into hospitals, ambulatory surgical centers, and other end users. The hospital segment dominated the market with a revenue share of around 57.5% in 2023.
North America ophthalmic sutures market accounted for USD 353.5 million in revenue in 2023 and is predicted to witness substantial market growth over the analysis timeline.
The U.S. ophthalmic sutures market is anticipated to reach USD 543.6 million by 2032.
The ophthalmic sutures market in UK is expected to experience significant and promising growth from 2024 to 2032.
Japan ophthalmic sutures market is anticipated to witness lucrative growth between 2024 – 2032.
Ophthalmic Sutures Market Share
The market is fragmented in nature with the presence of as large multinationals and small to medium firms compete in this market. Invention and introduction of new products with better effectiveness and cost-efficiency remain the core strategies of suture manufacturers in the ophthalmic sector to spur competition within the market. Such innovation strives to respond to changing clinical requirements while improving patient's health outcomes and assists in scaling up the companies to capture the increased market opportunities for sophisticated sutures.
Ophthalmic Sutures Market Companies
Some of the eminent market participants operating in the ophthalmic sutures industry include:
USPs of top players
Ophthalmic Sutures Industry News:
The above information is provided for the following regions and countries: