Impact of Covid19 on Ophthalmic Knives Market, Future Growth 2020-2027 | Alcon Inc, Topcon Corporation, Bausch and Lomb Incorporated, Seiko Optical Products
: New York, United States, 19-July-2020, (Via WiredRelease), (Reports and Data) – The Global Ophthalmic Knives Market was calculated to be worth USD 1.63 Billion in 2019 and is expected to reach the valuation of USD 2.44 Billion by the year 2027, growing at a CAGR of 5.1% through the forecast period. The Ophthalmic Knives Market is growing due to the increasing eye-related disorders. According to the World Health Organization (WHO), over 2.2 billion people are affected by vision impairment or blindness.
The increasing prevalence of minimally-invasive surgeries that use ophthalmic knives is expected to drive market growth. Furthermore, minimally-invasive surgeries are cost-effective and also reduce the duration of hospital stay for patients. The growing geriatric population that has a prevalence of eye-related diseases caused by aging is also expected to help market growth. According to the Centers for Disease Control and Prevention (CDC), around 3 million Americans are expected to be affected by age-related macular degeneration. Several non-profit organizations, like the American Foundation of Blind and AMD Alliance International, are trying to spread awareness among people about eye-related diseases and their treatments, which could also boost the growth of the sector. Additionally, the cost incurred for the sterilization of ophthalmic knives, precision, and the need for medical professionals could potentially hinder the growth of the market.
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The COVID-19 impact:
Covid-19’s spread has affected manufacturing and construction activities worldwide. Logistic limitations and reconsiderations of the raw material requirements are becoming a problem for producers. The producers have relied on derived demand as an intermediate commodity to rationalize production. The pandemic’s economic impact on companies and financial markets is also not favorable. Stock market volatility and decreasing global growth are anticipated, which will affect the market. The market has experienced a downturn over the weeks, which may continue over the next few months. The Asia Pacific is the most affected region by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Development, as well as supply, is put on hold, creating losses for suppliers, dealers and customers alike.
Key participants include
Alcon, Inc., Topcon Corporation, Bausch and Lomb Incorporated, Seiko Optical Products Co., Ziemer Group, Sidapharm, Hoya Corporation, Nidek Co., DGH Technology, and Alltion.
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For the purpose of this report, Reports and Data have segmented into the global Ophthalmic Knives market on the basis of type, propellants, application, and region:
Use Outlook (Revenue in Million USD; 2016–2026)
Material Outlook (Revenue in Million USD; 2016–2026)
Application Outlook (Revenue in Million USD; 2016–2026)
End-use Outlook (Revenue in Million USD; 2016–2026)
Ambulatory surgery centers
Regional Outlook (Revenue, USD Million; 2017-2027)
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Key Question the Report Will Answers
At what rate will the Ophthalmic Knives Market grow? What will be the value of the market in 2027?
What are the key technologies driving Ophthalmic Knives?
What would be the impact of Ophthalmic Knivesacross different regions?
What are the strategies adopted by players to enter the APAC region?
What is the key application of Ophthalmic Knivesin the transportation sectors?
What are future growth strategies in the market?
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