According to FutureWise analysis the market for Ophthalmic Viscoelastic Devices (OVD) is expected to reach US$ 3.96 billion by 2031 at a CAGR of 4.30%.
Ophthalmic viscoelastic devices (OVDs) are mainly used by ophthalmologists to perform various eye surgeries like cataract and glaucoma surgery. These devices help in protecting the fragile ocular structure coupled with proper pressure generation in the anterior chamber. Furthermore, these devices aid in creating precise eye compartmentalization during surgery, which ultimately results in safer and faster surgery. Thus, it helps in swift patient recovery. The ophthalmologists use various types of ophthalmic devices as per their requirement. All these factors aid in the stimulation of the ophthalmic viscoelastic devices (OVDs) market growth.
Product-wise, the ophthalmic viscoelastic devices (OVD) market is fragmented into dispersive ophthalmic viscoelastic and cohesive ophthalmic viscoelastic. The cohesive ophthalmic viscoelastic segment possessed the biggest ophthalmic viscoelastic devices market share in 2018. Moreover, this segment is predicted to proliferate with the fastest CAGR during the forecast period due to several benefits they provide especially in cataract surgery. For example, cohesive ophthalmic viscoelastic help in maintaining and creating space in the eye’s anterior segment, reduction of deleterious vector forces and capsular bag inflation before the implantation of the lens. Moreover, cohesive ophthalmic viscoelastic is easy to remove from the eye post-surgery which is another major advantage in the ophthalmic viscoelastic devices (OVD) market growth.