Global Ophthalmic Viscoelastic Devices (OVD) Market is Estimated to Value Over USD 3.4 Billion by 2026 End

  • 16 Sep 2019

Global Ophthalmic Viscoelastic Devices (OVD) Market is estimated to value over USD 3.4 billion by 2026 end and register a CAGR of over 5% during the forecast period 2019 to 2026

 

Growing government initiatives aiming at setting up guidelines to control the rise in vision impairment worldwide are encouraging the key manufacturers to introduce efficient ophthalmic devices in the ophthalmic viscoelastic devices (OVD) market. Furthermore, an increase in the number of eye surgeries performed, a soaring prevalence of glaucoma and cataract and rise in geriatric population are other factors attributing towards the ophthalmic viscoelastic devices (OVD) market growth.

Additionally, the rising adoption of viscoelastic devices across the world further stimulates market growth. Moreover, the growth potential offered by emerging economies presents profitable opportunities during the forecast period. Nonetheless, low accessibility to eye care in developing countries and high ophthalmic surgery costs hamper the ophthalmic viscoelastic devices (OVD) 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.

Depending on the application, the cataract surgery segment possessed the largest ophthalmic viscoelastic devices (OVD) market share in 2018 and is projected to witness this growth over the forecast period. This is due to growth in the incidence of cataract that was exhibited over the years across the world and is expected to maintain this consistency in the future. Moreover, ophthalmic viscoelastic devices play an important role in the patients suffering from cataract by protecting the eye from getting damaged and providing pressure to the anterior chamber during the cataract surgeries. Currently, cataract can be efficiently treated using advanced ophthalmic devices with higher efficiency. Therefore, technological advancement in ophthalmic viscoelastic devices and increased geriatric population has increased the demand for the use of ophthalmic viscoelastic devices globally. Additionally, the glaucoma surgery segment is projected to exhibit the fastest growth owing to the advancements in the surgical techniques and rise in the use of glaucoma drainage implants. 

 

Key market players include Altacor, Bausch Health Companies Inc., Bohus Biotech Ab, Carl Zeiss Meditec Ag, Cima Technology Inc., Eyekon Medical Inc., Haohai Biological Technology, Johnson & Johnson, Novartis International AG (Alcon Inc.), Rumex International Corporation.  

 

Global Ophthalmic Viscoelastic Devices (OVD) Market Segmentation:

By Product

  • Cataract Surgery
  • Glaucoma Surgery
  • Corneal Transplant
  • Vitreoretinal Surgery

 

By End User

  • Hospitals
  • Ophthalmic Clinics
  • Others

 

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

FutureWise Key Takeaways:

● Growth Prospects

● SWOT Analysis

● Key Trends

● Key data-points affecting market growth

 

Objectives of the Study:

• To provide with an exhaustive analysis on the global ophthalmic viscoelastic devices (OVD) market by product, by end-user and by region 

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

• Evaluate and forecast micro-markets and the overall market 

• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East & Africa

• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

 

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