Ophthalmic Viscoelastic Devices Market on Track for Strong Growth, Estimated to Grow at 5.1% CAGR Through 2029

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What Is the Expected CAGR for the Ophthalmic Viscoelastic Devices Market Through 2025?
The market for ophthalmic viscoelastic devices has seen a consistent expansion in past years, escalating from a value of $2.65 billion in 2024 to an anticipated $2.75 billion in 2025, portraying a Compound Annual Growth Rate (CAGR) of 3.4%. Further attributing to this expansion within the historical timeframe are factors including a surge in cataract surgeries, ongoing progress in techniques used for ophthalmic surgery, an aging demographic, a rise in eye disorders occurrence, and a heightened awareness and accessibility to eye care amongst patients.

What's the Projected Size of the Global Ophthalmic Viscoelastic Devices Market by 2029?
The market for ophthalmic viscoelastic devices is poised for significant growth in the coming years, projected to reach "$3.35 billion by 2029, with a compound annual growth rate (CAGR) of 5.1%. This growth during the forecast period can be linked to the advancement in device technology, expanded usage in eye surgery, increased demand for high-quality intraocular lenses, global initiatives in eye health and vision care, market inroads into developing economies, and collaborations and training schemes in ophthalmology. Some of the major trends during the forecast period include personalized ophthalmic solutions, adherence to regulations and quality assurance, collaborations and partnerships, a demand for premium products by patients, and ongoing research and development.

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Top Growth Drivers in the Ophthalmic Viscoelastic Devices Industry: What's Accelerating the Market?
The escalation in the incidence of eye conditions, particularly cataracts and glaucoma, is anticipated to boost the expansion of the ophthalmic viscoelastic devices market. A cataract is defined as the clouding of the eye that causes deteriorating vision, while glaucoma involves a range of eye issues that harm the optic nerve due to increased internal eye pressure, leading to possible vision loss and blindness if unchecked. On the other hand, an ophthalmic viscoelastic device, often in the form of a gel-like substance, is utilized in eye surgical operations, specifically in cataract surgery and certain glaucoma procedures. As a case in point, the BrightFocus Foundation, a nonprofit organization based in the US, reported in October 2022 that there are currently 80 million global glaucoma patients, and predicts this figure to increase to nearly 111 million by 2040. Consequently, the rising incidence of cataracts and glaucoma fuels the upward trend in the ophthalmic viscoelastic devices market.

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What Trends Will Shape the Ophthalmic Viscoelastic Devices Market Through 2029 and Beyond?
Innovation is also advancing in the ophthalmic viscoelastic devices market, where companies are launching next-generation solutions. In April 2023, US-based Bausch + Lomb Corporation released StableVisc, a cohesive OVD, and the TotalVisc Viscoelastic System. These products aid during cataract surgery by maintaining space and protecting ocular tissues, with dual protection provided by sodium hyaluronate and sorbitol for superior antioxidant properties.

What Are the Main Segments in the Ophthalmic Viscoelastic Devices Market?
The ophthalmic viscoelastic devices market covered in this report is segmented -

1) By Product Type: Cohesive Ophthalmic Viscoelastic, Dispersive Ophthalmic Viscoelastic
2) By Application: Cataract Surgery, Glaucoma Surgery, Corneal Transplant, Vitreoretinal Surgery
3) By End User: Hospital, Ophthalmology Clinics, Other End-Users

Subsegments:
1) By Cohesive Ophthalmic Viscoelastic: Sodium Hyaluronate, Hyaluronic Acid, Other Cohesive Types
2) By Dispersive Ophthalmic Viscoelastic: Sodium Chondroitin Sulfate, Dispersive Hydrogel, Other Dispersive Types

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Which Top Companies are Driving Growth in the Ophthalmic Viscoelastic Devices Market?
Major companies operating in the ophthalmic viscoelastic devices market include Altacor Ltd., Bausch Health Companies Inc., Bohus Biotech Ab, Carl Zeiss Meditec Ag, Cima Technology Inc., Eyekon Medical Inc., Haohai Biological Technology Co. Ltd., Johnson & Johnson Pvt. Ltd., Novartis International AG, Rumex International Corporation, Rayner Intraocular Lenses Limited, Aurolab, Ophtechnics Unlimited, Truviz Ophthalmic, Beye LLC, Alcon Inc., Beaver Visitec Limited, Neu Micromed International Pvt. Ltd., Abbott Medical Optics, Maxigen Biotech Inc., Amring Pharmaceuticals Inc., OcuCo Ltd., Precision Lens Co. Ltd., Croma Pharma GmbH, Medicontur Medical Engineering Ltd., Rhein Medical Inc., MicroSurgical Technology, FCI Ophthalmics Inc., Hanita Lenses Ltd., HOYA Medical Singapore Pte. Ltd.

Which Regions Will Dominate the Ophthalmic Viscoelastic Devices Market Through 2029?
North America was the largest region in the ophthalmic viscoelastic devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global ophthalmic viscoelastic devices market report during the forecast period. The regions covered in the ophthalmic viscoelastic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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