Ophthalmic Viscosurgical Devices Market 2018: Exploration on Prominent Players | Abbott Medical Optics, Alcon, Bohus Biotech, Bausch & Lomb, Carl Zeiss Meditec, CIMA Technology, Johnson & Johnson Vision Care, Maxigen Biotech, Precision Lens, Rayner Intrao

Ophthalmic Viscosurgical Devices Market size is set to exceed USD 790 million by 2024; according to a new research report by Global Market Insights.

Increasing number of people suffering from different types of ophthalmic disorders is the key factor driving ophthalmic viscosurgical devices (OVD) industry growth during the forthcoming years. Moreover, diabetic patients are at high risk of suffering from some or the other ophthalmic disease. Increasing prevalence of diabetes in developed as well as developed economies will further spur ophthalmic viscosurgical devices market size.

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Diminishing visual functions with increasing age is a growing concern among the elderly population base. Prevalence and incidence of blindness, vision impairment and other ophthalmic disorders such as diabetic retinopathy, cataract, macular degeneration and glaucoma is high among aged people as compared to the younger population. Rapidly growing geriatric population base will boost the demand for ophthalmic surgeries thereby, accelerating OVD business growth. However, risks associated with eye surgeries such as irregular astigmatism, epithelial ingrowth and diffuse lamellar keratitis (DLK) may impede OVD market growth in the coming years.

Cataract surgery segment held considerable revenue share in 2017 and will witness lucrative CAGR of 12.8% over the analysis period. High segment growth is attributable to increasing prevalence of disease coupled with rising geriatric population across the globe. According to International Agency for the Prevention of Blindness (IAPB), cataract is the leading cause of blindness across the world. Growing incidence of cataract will surge the need for cataract surgeries worldwide thereby accelerating segment growth in the coming years.

Dispersive segment dominated the ophthalmic viscosurgical devices (OVD) market with USD 170.2 million in 2017 and is estimated to show robust growth over the forecast timeframe. Increasing adoption of dispersive OVDs in iris trauma, capsular rupture or zonular weakness, to create and maintain separation between anterior and posterior segments will favor segmental growth during the forecast period.

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Hospitals segment accounted for 44.8% revenue share in 2017 and the segment will witness robust CAGR in the coming years. Increasing patient preference towards non-invasive and technologically advanced surgical procedures performed in hospital settings will propel segmental growth. Furthermore, hospitals are equipped with advanced technology-integrated medical devices for cataract and other vision correction procedures that will further accelerate industry growth.

U.S. ophthalmic viscosurgical devices (OVD) market dominated North America region and was valued at USD 156.1 million in 2017 and is estimated to witness similar trend in the coming years. High growth is attributed to increasing prevalence of diabetes among the population leading to visual disabilities. Awareness among people regarding regular eye check-up coupled with high healthcare expenditure will spur U.S. ophthalmic viscosurgical devices (OVD) market size over the forecast period.

Germany ophthalmic viscosurgical devices (OVD) market is estimated to show lucrative CAGR of 12.0% over the forecast timeline. Rising incidence of ophthalmic diseases in the country will favor business growth in the foreseeable future. Furthermore, organizations such as German Society of Ophthalmology, German Professional Association of Ophthalmologists and the Association of German Ophthalmic Surgeons are implementing national screening programs for glaucoma. Additionally, it also includes age-related macular degeneration and other age-related conditions that will further augment industry growth.

Prominent industry players operating in the Ophthalmic Viscosurgical Devices (OVD) market include Abbott Medical Optics, Alcon, Bohus Biotech, Bausch & Lomb, Carl Zeiss Meditec, CIMA Technology, Johnson & Johnson Vision Care, Maxigen Biotech, Precision Lens, Rayner Intraocular Lenses and Sidapharm. Key industry players majorly focus on several strategic initiatives including new product launch, partnership, merger and acquisitions to strengthen their market position and capitalize on market opportunities. For instance, in October 2018, Carl Zeiss announced agreement to acquire IanTech a company focused on technological solutions for micro interventional cataract surgeries.

Ophthalmic Viscosurgical Devices (OVD) market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:

Ophthalmic Viscosurgical Devices (OVD) Market, By Product (USD Million)
• Dispersive
• Cohesive
• Combined

Ophthalmic Viscosurgical Devices (OVD) Market, By Application (USD Million)
• Cataract Surgery
• Vitreoretinal Surgery
• Canaloplasty
• Refractive Surgery
• Keratoplasty
• Others

Ophthalmic Viscosurgical Devices (OVD) Market, By End-use (USD Million)
• Hospitals
• Clinics
• Others

The above information is provided for the following regions and countries:
• North America
o U.S.
o Canada
• Europe
o Germany
o UK
o France
o Spain
o Italy
• Asia Pacific
o Japan
o China
o India
o Australia
o Malaysia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East Asia & Africa
o South Africa
o Saudi Arabia

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

This release was published on openPR.