The global Ophthalmic Viscoelastic Devices (OVD) Market size is anticipated to reach USD 1,203.26 Million at a CAGR of 11.6% by the end of the forecast period of 2019-2027. Ophthalmic viscoelastic devices are fundamental tools that are used in cataract surgery. They are designed to protect and coat delicate intraocular tissues and improve visualization.
A substantial rise in the number of ophthalmic surgeries is a key factor influencing the growth of the global ophthalmic viscoelastic devices market. An increasing number of eye disorders require surgery which generates high demand for OVDs. As per a report published by Novartis healthcare in 2015, almost 4 Mn cataract surgeries are performed in the US every year. OVDs make phacoemulsification easier and safer and thus have become standard in ophthalmic surgeries. OVDs are used separately or in a combination of both cohesive and dispersive. High prevalence of visual impairment and expanding healthcare expenditure is adding fuel to the growth of the market. Growing geriatric population and increase in the number of diabetic patients have also contributed significantly to the market growth.
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Advancement in material science and development of better OVDs have demonstrated a high success rate in ophthalmic surgeries. In addition, improving reimbursement scenario and spreading awareness is expected to foster the growth of the market over the forecast period.
On the other hand, among factors which can affect the market growth negatively include complications associated with the removal of OVDs. OVDs, especially the dispersive ones can be hard to remove since they tend to spread out and coat the ocular structures. OVDs are subject to stringent FDA clinical evidence and testing requirements which are becoming tightened gradually. Lack of general awareness among people regarding eye disorders is also likely to constrain market growth over the forecast period.
Ophthalmic Viscoelastic Devices (OVD) Market Competitive Landscape
Lifecore Biomedical LLC, Alcon Laboratories Inc., Johnson & Johnson, Bohus BioTech AB, Carl Zeiss AG, Rayner Company, and Bausch & Lomb are the key players in the global ophthalmic viscoelastic devices market.
Ophthalmic Viscoelastic Devices (OVD) Market Segmentation
The global ophthalmic viscoelastic devices (OVD) market has been segmented into
• type
• application
• end user
By type, the global ophthalmic viscoelastic devices market has been segmented into
• cohesive ophthalmic viscoelastic devices
• dispersive ophthalmic viscoelastic devices
By application, the global ophthalmic viscoelastic devices market has been segmented into cataract surgery
• glaucoma surgery
• corneal transplantation
• vitreoretinal surgery
By end user, the global ophthalmic viscoelastic devices market has been segmented into ophthalmic clinics
• phaco centers
• hospitals
• academic
• research institutes
Ophthalmic Viscoelastic Devices (OVD) Market Regional Analysis
By region, the global ophthalmic viscoelastic devices market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
America
North America
• Canada
• US
South America
Europe
Western Europe
• Germany
• UK
• France
• Italy
• Spain
Rest Of Western Europe
Eastern Europe
Asia
• Japan
• India
• Australia
• China
• Republic Of Korea
• Rest Of Asia Pacific
Middle East & Africa
• United Arab Emirates
• Saudi Arabia
• Oman
• Kuwait
• Qatar
Rest Of Middle East & Africa
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