Ophthalmic Viscosurgical Devices Market (By Product Type: Dispersive OVD, Cohesive OVD; By Application: Cataract surgeries, Glucoma surgeries, Others; By End-use: Hospital, Clinics, Ophthalmology clinic, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The global ophthalmic viscosurgical devices market size is expected to reach around US$ 876.3 Mn by 2026, growing at a CAGR of around 9.7% from forecast period 2019 to 2026.

Ophthalmic viscosurgical devices are used in ophthalmic surgery for maintaining the anterior chamber during surgical maneuvers. The main function of ophthalmic viscosurgical devices are to maintain and preserve space, displace and stabilize tissue, and coat and protect tissue. Based on product type, different types of ophthalmic viscosurgical devices such as dispersive ophthalmic viscosurgical devices and cohesive ophthalmic viscosurgical devices are used. According to world Health Organization (WHO) in 2017, more than 285 million people across the globe have vision impairment, and 42% due to uncorrected refractive errors. Ophthalmic viscosurgical devices are necessary for anterior segment surgeon. According to WHO, There are about 1 billion individuals, which is nearly 13.46% of the global population, suffering from neurological disorders and more than 350 million people are suffering from depression.

Market Dynamics

The growth of the ophthalmic viscosurgical devices market is primarily driven by the rising ophthalmic viscosurgical devices demand from cataract surgeries, glucoma surgeries, and other surgeries applications, increase in geriatric population across the globe, and technological advancements in ophthalmic viscosurgical devices. Furthermore, increase in demand and preference for non-invasive treatment and expanding base of diabetic patients worldwide, is estimated to boost the market growth. Moreover, changing lifestyles of consumers across developed countries, growing pharmaceutical and medical industry, technological advancement and increase in the number of applications are expected to create opportunities for the manufacturers in the global market over the forecast period. However, high cost of ophthalmic devices and risks associated with eye surgeries are expected to hamper the growth of the global ophthalmic viscosurgical devices market in the coming years.

By product type, dispersive OVD dominated the ophthalmic viscosurgical devices market

The dispersive OVD segment accounted for approximately 54% of the share in the global ophthalmic viscosurgical devices market in 2018. Increase in demand for surgical aid for performing ocular surgeries such as cataract, glaucoma, vitrectomy, and others, creating and maintaining space in anterior segment of the eye at the time of surgery, and rising incidences of various diseases is further expected to raise segment over the forecast period.

By end-use, hospitals segment dominated the ophthalmic viscosurgical devices market

The hospitals segment accounted for approximately 41% of the share in the global ophthalmic viscosurgical devices market in 2018. Growing demand for multi-specialty medical devices for vision correction and cataract procedures and growing consumer preference towards technology advanced surgical procedures performed in hospitals is further expected to raise segment over the forecast period. Owing to its growing number of surgery, growing number of devices requirement in hospitals, and supportive government initiatives for ophthalmic viscosurgical devices in hospitals further grows the demand for ophthalmic viscosurgical devices in hospitals applications during the forecast period.

By application, cataract surgeries segment dominated the ophthalmic viscosurgical devices market

The cataract surgeries segment accounted for approximately 44% of the share in the global ophthalmic viscosurgical devices market in 2018. Geriatric population across the globe and growing incidence of cataract, and rising demand for safe surgery is further expected to raise segment over the forecast period.

The market research study on “Ophthalmic Viscosurgical Devices Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global ophthalmic viscosurgical devices market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global ophthalmic viscosurgical devices market, its product type, application, end-use, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global ophthalmic viscosurgical devices market size and volume, and segment markets by product type, application, end-use, and geography along with the information on companies operating in the market. The ophthalmic viscosurgical devices market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

In 2018, North America dominated the regional market with a maximum market share

North America accounted for the high market share of the ophthalmic viscosurgical devices market and the region is also expected to maintain its dominance over the forecast period. The region is experiencing the maximum growth owing to the rapid consumption of ophthalmic viscosurgical devices in various end user applications, presence of ophthalmic viscosurgical devices companies, favorable reimbursement policies, and rapidly growing geriatric population. Highly efficient reimbursement structure and developed healthcare infrastructure in the North America region is one of the key factors driving the consumption of ophthalmic viscosurgical devices in this region. Moreover, highly skilled neurosurgeons, growing number of hospitals and research centers in key countries such as US and Canada are also propelling the growth of ophthalmic viscosurgical devices in the North America region. Europe is followed by the North America region in the ophthalmic viscosurgical devices market.

Asia-Pacific is expected to hold the highest CAGR in the global market during the forecast period. The growing medical device industry, increase in innovation and development in ophthalmic viscosurgical devices, and growing geriatric populations, are expected to enhance the market growth in the global thermal interface materials market during the forecast.

The players profiled in the report include Carl Zeiss Meditec AG, Alcon Laboratories, Abbott Medical Optics Inc., Bausch & Lomb, Inc., Lifecore Biomedical, LLC, Rumex International Company, EyeKon Medical, Inc., Amring pharmaceutical Inc, Bohus Biotech AB, and Sidapharm among others. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.

Market Segmentation

Market By Product Type

• Dispersive OVD
• Cohesive OVD

Market By Application

• Cataract surgeries
• Glucoma surgeries
• Others

Market By End-use

• Hospital
• Clinics
• Ophthalmology clinic
• Others

Market By Geography

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa