Ophthalmic Viscosurgical Devices Market, Competitive Analysis, Industry Report 2024

According to research report “Ophthalmic Viscosurgical Devices Market Size By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Malaysia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc. says Worldwide ophthalmic viscosurgical devices market will surpass a revenue collection of USD 790 million by 2024 with an annual growth rate of more than 10% over the years ahead.

Ophthalmic viscosurgical devices market is expected to carve a remarkable growth path, owing to the surging product requirement for age-related cataract treatment. Reliable statistics state that more than 10 million cataract operations are carried out across the globe. Increasingly changing dietary habits and a hectic, modern lifestyle has led to a widespread occurrence of diabetes. Diabetic people are vulnerable to ocular disabilities such as blindness and diabetic retinopathy, which in turn, will favor ophthalmic viscosurgical devices industry growth noticeably.

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The differentiating factor of Ophthalmic viscosurgical devices market report by Global Market Insights, Inc. when compared with other, similar syndicated research studies includes a 360-degree synopsis of trends for a period of more than 10 years including historic information as well as future outlook. Business focussed multiple trends for Ophthalmic viscosurgical devices industry are discussed along with regional trends to offer an overall view of the market. The ‘industry insights’ chapter of this research provides the most comprehensive analysis of Ophthalmic viscosurgical devices market covering segmentation, size, forecasts, ecosystem analysis and more. Industry impact forces (regional and global) that cover growth drivers and challenges, growth potential analysis, a strategy dashboard for competitive landscape of Ophthalmic viscosurgical devices market support this sector specific data and information points.

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Based on the products, ophthalmic viscosurgical devices market is mainly divided into cohesive, dispersive, and combined. Dispersive devices covered more than 47% of the revenue share in 2015 and will exhibit lucrative growth prospects over the coming years of 2016 to 2024. The prominent usage of these devices for cataract surgeries due to their notable rheological characteristics will augment the product demand. Cataract surgery application acquired more than 49% of the market share of the application landscape in 2015 and will record a CAGR of 12.6% over the period of 2016 to 2024. The number of patients affected by cataract are increasing substantially across the globe, which will noticeably boost the demand for ophthalmic viscosurgical devices.

Cohesive ophthalmic viscosurgical devices market is anticipated to cover a market share of about 40% over the coming years of 2016 to 2024, owing to the cohesive nature of the device, which is mainly used in OVD retention for phacoemulsification. Phacoemulsification technology is extensively used for the treatment of cataract.

Vitreoretinal surgery is another attractive application segment of ophthalmic viscosurgical devices market. Vitreoretinal surgery was worth more than USD 53 million in 2015 and will cross a revenue collection of USD 150 million by 2024. The growth can be attributed to the surging need of these devices in diabetic retinopathy, macular degeneration, and diabetic vitreous haemorrhage.

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Geographically, Germany ophthalmic viscosurgical devices market will register an annual growth rate of 11.9% over the period of 2016 to 2024, owing to the growing awareness regarding eye-related disorders such as cataracts among the rising geriatric population.

U.S. ophthalmic viscosurgical devices industry was worth more than USD 110 million in 2015 and will exhibit significant growth rate over the years ahead. The growth can be attributed to the growing occurrence of ophthalmic ailments such as diabetic retinopathy, cataract, and glaucoma. In addition, the availability of advanced healthcare facilities and supportive reimbursement policies will augment the industry growth noticeably.

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Japan ophthalmic viscosurgical devices market collected a revenue of over USD 12 million in 2015 and will cross a market value of USD 41 million by 2024, primarily driven by the invasively growing geriatric population.

Industry giants will focus on product differentiation, strategic partnerships, and new product launches to sustain their position in the market. Top business competitors occupied more than 50% of the revenue share in 2015. Key participants in ophthalmic viscosurgical devices market are Abbott Medical Optics Inc., Alcon, Bausch & Lomb, Carl-Zeiss, Hyaltech Ltd., CIMA Technology, Inc., Rayner, and Precision Lens.

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