Global Ophthalmic Viscoelastic Devices (OVD) Market 2018-2027: Growing with Johnson & Johnson, Alcon Laboratories Inc., Bausch & Lomb, Carl Zeiss AG Others

The Ophthalmic Viscoelastic Devices (OVDs) are the viscoelastic solution used during eye surgery for intent to coat and protect delicate intraocular tissues. The Ophthalmic Viscoelastic Devices (OVD) Market is expected to reach $ 1,203.26 million by the end of 2027, this market is projected to growing at a CAGR of ~ 11.6 % during 2017-2027.

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Ophthalmic viscoelastic devices (OVDs) are regarded as a standard tool used in the ophthalmic surgeries. Over the last decade, OVDs had acquired a lot of attention owing to their properties and advantages. Sodium Hyaluronate is the most widely used OVD material. OVD has a great impact on ophthalmic surgeries, especially cataract surgeries and other intraocular lens implantation. Many studies had proven that use of OVD has increased the success rate of the surgeries. The major driving factor for the ophthalmic viscoelastic devices market are increasing number of cataract and glaucoma surgeries across the globe, developments in OVDs and favourable reimbursement policies. On the other hand lack of general awareness and availability of alternative therapy has restrained the growth of the market.

This new technique is used in cataract, glaucoma, corneal, and vitreoretinal surgeries. The major driving factor for the market are increasing number of cataract and glaucoma surgeries, favourable reimbursement policies and developments in OVDs. Rising geriatric population, and increasing diabetic population has also contributed in the growth of the market. Whereas, lack of general awareness among people about eye disorders has restrained the growth of market.

Rising number of ophthalmic surgeries is the main driver for the global ophthalmic viscoelastic devices market. The global ophthalmic viscoelastic devices market is majorly segmented on the basis of type, application, end user and regions. The global ophthalmic viscoelastic devices market on the type, is segmented into cohesive OVDs, dispersive OVDs and others. Being costlier than dispersive OVDs, Cohesive OVDs segment accounts the largest market share of the global ophthalmic viscoelastic devices market by type.

On the basis of application, the market is segmented into cataract surgery, glaucoma surgery, corneal transplantation, vitreoretinal surgery and others. Cataract surgery is the most common ophthalmic surgery as majority of people are suffering from cataract. According to World Health Organization (WHO), cataract is responsible for 51% of world blindness and is one of the important cause for causing of vision loss in developing countries. Due to this cataract surgery segment accounts the major share of the market of ophthalmic viscoelastic devices.

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Global Ophthalmic Viscoelastic Devices (OVD) Market - Key Players

Key players profiled in the report are:

Johnson & Johnson
Alcon Laboratories Inc.
Bausch & Lomb
Carl Zeiss AG
Rayner Company
Bohus BioTech AB
Lifecore Biomedical LLC

Global Ophthalmic Viscoelastic Devices (OVD) Market - Key finding

The Global Ophthalmic Viscoelastic Devices (OVDs) market is growing at a growth rate of 11.59% during the period 2017-2027. Increasing prevalence of cataract and glaucoma surgeries, advances in the ophthalmic viscoelastic devices, and the increasing diabetic population are some of the major factors responsible for market growth.
Currently, cohesive OVDs accounts for the largest market share in the global scenario due to their advantages and long history. They are easily removed from the eye, they have high molecular weight and high viscosity, making them the perfect agent for maintaining the space. There has been significant growth in the demand for the cohesive OVDs.
Johnson & Johnson, Alcon Laboratories, Inc., Bausch & Lomb, Carl Zeiss AG are some of the prominent market players in the ophthalmic viscoelastic devices (OVDs) market.

Global Ophthalmic Viscoelastic Devices (OVD) Market - Segmentation

The global ophthalmic viscoelastic devices (OVD) market is segmented on the basis of types, application and end users. Based on types, the market has been segmented as cohesive ophthalmic viscoelastic devices (OVD) and dispersive ophthalmic viscoelastic devices (OVD). Based on the application, the market has been segmented as cataract surgery, glaucoma surgery, corneal transplantation and vitreoretinal surgery. Based on the end users, the market has been segmented as ophthalmic clinics & phaco centers, hospitals and academic & research institutes.

Global Ophthalmic Viscoelastic Devices (OVD) Market - Regional Analysis

In the Americas region, North America commands the largest market share in 2016 at 74.35% in 2016 while South America is expected to be the fastest growing segment with the CAGR of 11.6% during the forecasted period. US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global ophthalmic viscoelastic devices (OVD). Europe is the second largest market due to large disposable income and rising awareness. Asia Pacific region is expected to have the most potential and it is estimated to be led by China and India. Asia pacific region is expected to be the fastest growing segment with the CAGR of 12.0%during the forecasted period. The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to be a laggard due to poor economic and political conditions and poor healthcare penetration.

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Major Table of Content

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

Continued….

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