Press release
Global Ophthalmic Viscosurgical Devices Market Detail Analysis focusing on Key Players Alcon, Abbott Medical Optics, Bausch & Lomb, Bohus Biotech, Carl Zeiss Meditec, CIMA Technology, Johnson & Johnson Vision Care
U.S. ophthalmic viscosurgical devices market accounted for 90.7% revenue share of North America in 2017 due to launch of technologically advanced ophthalmic viscosurgical devices in the country. For instance, Amring Pharmaceuticals a pharmaceutical company, announced the launch of Biolon OVD ophthalmic viscosurgical device for use in cataract surgery. Increasing adoption of such technological advancements coupled with high healthcare expenditure will augment ophthalmic viscosurgical devices business growth over the coming years.
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Increasing incidence of ophthalmic disorders in developing countries will augment ophthalmic viscosurgical devices industry growth in coming years. Growing number of patients suffering from glaucoma disorders ultimately increases adoption of ophthalmic viscosurgical devices will foster industry growth in upcoming years.
Ophthalmic Viscosurgical Devices (OVD) Market will exceed USD 790 million by 2024; as per a new research report. Rapidly growing geriatric population across the world is a major impact rendering factor that will drive ophthalmic viscosurgical devices (OVD) market growth over the forecast timeline. As per United Nations 2017 report around 962 million people were aged 60 and above in 2017, accounting for 13% of the global population. Elderly population base is more susceptible to various ophthalmic disorders that will foster adoption of innovative ophthalmic viscosurgical devices thereby, propelling ophthalmic viscosurgical devices business growth.
Dispersive segment was valued at USD 170.2 million in 2017 and is projected to grow significantly over the forecast timeframe. Dispersive OVDs are short chain, low molecular weight and low viscosity devices used in chronic eye diseases including dense cataract. Increasing adoption of such dispersive OVDs will further stimulate segmental growth in forthcoming years.
Cataract surgery segment accounted for 49.7% revenue share in 2017 due to growing prevalence of cataracts across the globe. As per American Academy of Ophthalmology, around 24.4 million Americans aged 40 years and above were suffering from cataract. Increasing patient demand for cataract surgeries will fuel segmental growth.
Hospitals segment was valued at USD 158.3 million in 2017 owing to availability of advanced ophthalmic viscosurgical devices in hospitals. In addition, increasing adoption of highly sophisticated systems in hospital settings coupled with growing number of surgeries worldwide will accelerate segmental growth in coming years.
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China OVD market will witness 15.3% CAGR during the forecast timeframe. The growth is attributed to increasing prevalence of diabetes among the population. Diabetes is one of the major risk factors for various ophthalmic disorders. Increasing prevalence of such ophthalmic diseases ultimately surge adoption of advanced ophthalmic viscosurgical devices thereby, fostering ophthalmic viscosurgical devices industry growth.
Some of the prominent competitors operating in OVD market include Alcon, Abbott Medical Optics, Bausch & Lomb, Bohus Biotech, Carl Zeiss Meditec, CIMA Technology, Johnson & Johnson Vision Care, Maxigen Biotech, Precision Lens, Rayner Intraocular Lenses and Sidapharm. Industry competitors are mainly focusing on inorganic strategies such as partnership, merger and acquisitions to escalate their market position as well as strengthen product offerings.
Table of content:
Chapter 1. Methodology
Chapter 2. Executive Summary
Chapter 3. Ophthalmic Viscosurgical Devices Industry Insights
Chapter 4. Ophthalmic Viscosurgical Devices Market, By Product
Chapter 5. Ophthalmic Viscosurgical Devices Market, By Application
Chapter 6. Ophthalmic Viscosurgical Devices Market, By End-use
Chapter 7. Ophthalmic Viscosurgical Devices Market, By Region
Chapter 8. Company Profiles
More Details on this Report At: https://www.marketstudyreport.com/reports/ophthalmic-viscosurgical-devices-market
Related Report:
Global Ophthalmic Viscosurgical Devices (OVD) Market Professional Survey Report 2018
This report studies Ophthalmic Viscosurgical Devices (OVD) in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2013 to 2018, and forecast to 2025.
https://www.marketstudyreport.com/reports/global-ophthalmic-viscosurgical-devices-ovd-market-professional-survey-report-2018?utm_source=RR-AN
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