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Ophthalmic Viscoelastic Devices OVD Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2031)

06-15-2024 03:54 PM CET | Industry, Real Estate & Construction

Press release from: Report Prime

Ophthalmic Viscoelastic Devices OVD Market Size & Share

Market Overview and Report Coverage

Ophthalmic Viscoelastic Devices (OVDs) are crucial tools used during ophthalmic surgeries to maintain a stable anterior chamber, protect the corneal endothelium, and aid in surgical maneuvers. These devices act as a cushion and lubricant to facilitate smooth movements during surgeries such as cataract removal and intraocular lens implantation.

The Ophthalmic Viscoelastic Devices OVD Market is expected to grow at a CAGR of 11.90% during the forecasted period. The market is driven by increasing prevalence of eye disorders such as cataracts, glaucoma, and other age-related eye diseases. Additionally, advancements in minimally invasive surgical techniques, growing elderly population, and rising demand for better visual outcomes are contributing to the growth of the OVD market.

Moreover, technological advancements in OVDs, such as the development of cohesive and dispersive viscoelastics with improved safety and performance features, are expected to further propel market growth. With a focus on providing better patient outcomes and reducing complications during ophthalmic surgeries, the future of the Ophthalmic Viscoelastic Devices OVD market looks promising.

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Market Segmentation 2024 to 2031

The Ophthalmic Viscoelastic Devices OVD Market Analysis by types is segmented into:

• Dispersives OVDs
• Cohesive OVDs
• Combination OVDs
• Visco-Adapative OVDs

Ophthalmic Viscoelastic Devices (OVDs) are used in eye surgeries to provide lubrication, protect tissues, and maintain space within the eye. There are four main types of OVDs: Dispersives OVDs, which spread over tissues and offer mild protection; Cohesive OVDs, which maintain their shape and stay together; Combination OVDs, which combine properties of both dispersive and cohesive OVDs; and Visco-Adapative OVDs, which change their viscosity based on the environment. Each type of OVD has specific benefits and applications in ophthalmic surgeries.

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The Ophthalmic Viscoelastic Devices OVD Market Industry Research by Application is segmented into:

• Hospitals & Clinics
• Ambulatory Care Center
• Others

Ophthalmic Viscoelastic Devices (OVDs) are commonly used in hospitals, clinics, and ambulatory care centers for various ophthalmic procedures such as cataract surgery and intraocular lens implantation. These devices help maintain space in the eye, protect the corneal endothelium, and facilitate the surgical process. In addition to these settings, OVDs are also utilized in other healthcare facilities for different ophthalmic procedures. Overall, OVDs play a crucial role in enhancing the success and safety of eye surgeries across various healthcare settings.

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In terms of Region, the Ophthalmic Viscoelastic Devices OVD Market Players available by Region are:

North America:
• United States
• Canada

Europe:
• Germany
• France
• U.K.
• Italy
• Russia

Asia-Pacific:
• China
• Japan
• South Korea
• India
• Australia
• China Taiwan
• Indonesia
• Thailand
• Malaysia

Latin America:
• Mexico
• Brazil
• Argentina Korea
• Colombia

Middle East & Africa:
• Turkey
• Saudi
• Arabia
• UAE
• Korea


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What are the Emerging Trends in the Global Ophthalmic Viscoelastic Devices OVD market?

- Increasing adoption of minimally invasive surgeries: As patients prefer less invasive procedures, there is a growing demand for OVDs used in cataract surgeries and other ophthalmic procedures.

- Technological advancements: Emerging technologies such as femtosecond laser-assisted cataract surgery and improved OVD formulations are driving market growth by enhancing surgical outcomes and reducing complications.

- Shift towards premium OVDs: Consumers are willing to pay more for premium OVDs with superior quality and safety features, leading to the development of innovative products in the market.

- Industry collaborations and partnerships: Pharmaceutical companies, medical device manufacturers, and research institutions are collaborating to develop novel OVDs, fueling market expansion and product innovation.

The OVD market is experiencing significant growth due to these trends, with a projected CAGR of 8.2% from 2021 to 2026.

Ophthalmic Viscoelastic Devices OVD Market Competitive Analysis

Alcon, Inc. (Switzerland) is a leading player in the ophthalmic viscoelastic devices (OVD) market. The company has a long history of providing innovative eye care products and solutions to healthcare professionals and patients worldwide. Alcon, Inc. is known for its high-quality OVDs that are used during ophthalmic surgical procedures to protect and stabilize the eye's intraocular structures. The company has experienced significant market growth over the years due to its strong focus on research and development, advanced manufacturing capabilities, and a wide distribution network.

Bausch & Lomb, Inc. (US) is another key player in the OVD market, offering a comprehensive portfolio of ophthalmic products and services. The company has a rich history of over 160 years in the eye care industry and is renowned for its innovative solutions for vision care, eye health, and surgical procedures. Bausch & Lomb's OVDs are widely used by ophthalmic surgeons for cataract, vitreoretinal, and refractive surgeries.

In terms of sales revenue, Johnson & Johnson, a major player in the ophthalmic industry, reported total sales of $82.06 billion in 2020. Alcon, Inc. reported sales of $7.1 billion in 2020. Bausch & Lomb, Inc., a subsidiary of Bausch Health Companies, reported sales of $8.50 billion in 2020.

Overall, the ophthalmic viscoelastic devices market is highly competitive, with key players such as Johnson & Johnson, Alcon, Inc., and Bausch & Lomb, Inc. driving innovation, growth, and market expansion. These companies continue to invest in research and development efforts to bring advanced OVDs to the market, meeting the evolving needs of ophthalmic surgeons and patients worldwide.

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