August 11, 2020
According to the recent report titled ‘U.S. Ophthalmic Sutures Market Size By Type, By Absorption, By Application, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, U.S. ophthalmic sutures market is expected to register an appreciable growth rate over 2020-2026.
As per the findings of the study, U.S. ophthalmic sutures market is majorly driven by spike in cases of ophthalmic and ocular conditions like glaucoma, cataract, diabetic retinopathy, and age-related macular degeneration. These conditions are related to elderly population and high prevalence of diabetes in the nation.
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On the contrary, complications linked with ophthalmic sutures post-operations, availability of alternative products, and lack of skilled ophthalmologists may prohibit the growth of U.S. ophthalmic sutures market over the forecast period, cites the study.
Based on type, U.S. ophthalmic sutures industry is split into natural and synthetic, among which, the former segment was valued at USD 31 million in 2019 and is anticipated to witness considerable gains in the upcoming years. The growth can be attributed to their efficacy in minimizing eye infections and applicability in a number of ophthalmic procedures.
In terms of absorption, U.S. ophthalmic sutures market is divided into absorbable and non-absorbable, wherein the latter segment is projected to register 4.5% CAGR over 2020-2026. These sutures provide long-term tissue support in sites that allow easy removal upon healing. On the other hand, non-absorbable sutures are meant for external application and manually removed depending on condition of healing wound.
Elaborating on the application scope, U.S. ophthalmic sutures market is categorized into cataract surgery, oculoplastic surgery, corneal transplant surgery, vitrectomy, iridectomy, and others. Oculoplastic surgery segment accounted for USD 8 million in 2019. Increasing cases of eye injuries, in tandem with rising popularity of reconstructive surgeries will foster the segment growth in the upcoming years, claims the study.
Moving on to the end-use spectrum, U.S. ophthalmic sutures market is segmented into ambulatory surgical centers (ASCs), hospitals, and others. As per the projections, ASCs segment is expected to showcase a CAGR of 5% over the estimated timeframe, owing to availability of faster and cost-efficient treatment in these establishments, which ultimately lowers the risk of hospital-acquired infections.
Leading organizations in U.S. ophthalmic sutures market include Aurolan, Alcon Inc., B. Braun Melsungen AG, FCI Opthalmics, DemeTECH Corp., Johnson & Johnson, Surgical Specialties Corp., Medtronic plc, Teleflex Inc., and Unilene.