Ophthalmic Viscoelastic Devices (OVDs) Market Study by cataract and glaucoma surgeries, advances in the ophthalmic viscoelastic devices, and the increasing diabetic population | With Increasing growth rate of 11.59% till 2027

Ophthalmic Viscoelastic Devices (OVDs) Market are the viscoelastic solution used during eye surgery for intent to coat and protect delicate intraocular tissues. This new technique is used in cataract, glaucoma, corneal, and vitreoretinal surgeries.

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.

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 and others.

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Test the market data and market information presented through more than 91 market data tables and 33 figures spread over 108 pages of the project report. Avail the in-depth table of content (TOC) & market synopsis on “Global Ophthalmic Viscoelastic Devices (OVD) Market” Research Report – Forecast to 2027.

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.

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.

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.

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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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