The IMARC Group's latest research report, titled "Ophthalmic Viscoelastic Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the ophthalmic viscoelastic devices market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global ophthalmic viscoelastic devices (OVD) market size reached US$ 2.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.52% during 2024-2032.
Ophthalmic Viscoelastic Devices Market Overview:
Ophthalmic viscoelastic devices (OVDs) are crucial biomedical tools used during eye surgeries, especially in cataract extraction and intraocular lens implantation. These devices are sterile, isotonic, and viscoelastic solutions or gels that protect delicate ocular tissues and maintain anterior chamber depth in the eye. Composed mainly of hyaluronic acid or hydroxypropyl methylcellulose, OVDs vary in viscosity and cohesiveness, allowing surgeons to choose the appropriate type based on the specific surgical needs. Their primary mechanism involves creating space, stabilizing eye structures, and managing tissue manipulation without damaging the corneal endothelium and other sensitive ocular surfaces. The properties of OVDs make them indispensable in ophthalmic surgery due to their ability to enhance visibility, protect tissues from mechanical stress, and facilitate the manipulation of surgical instruments and implants within the eye. Their advantages include reducing complications during surgery, improving patient outcomes, and providing versatility across different types of ophthalmic procedures.
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Ophthalmic Viscoelastic Devices Market Trends:
The global market is primarily driven by the increasing prevalence of cataract and other ocular conditions that necessitate surgical intervention. In line with this, the aging global population, which is more susceptible to such eye disorders, is also providing an impetus to the market. Moreover, the advancements in surgical techniques and the development of more sophisticated and safer ophthalmic viscoelastic products are acting as significant growth-inducing factors. In addition to this, the growing number of ophthalmologists and specialized eye care clinics around the world is resulting in higher demand for these essential surgical aids. Besides this, rising healthcare expenditures and the availability of health insurance that covers vision-related surgeries are creating lucrative opportunities in the market. Also, the continuous education and training provided to eye care professionals are impacting the market positively, ensuring the proper use of OVDs in surgeries. The market is further driven by technological innovations that lead to the production of more efficient and user-friendly viscoelastic devices. Apart from this, an increase in patient awareness about the benefits of timely and effective surgical interventions for eye conditions is propelling the market. Some of the other factors contributing to the market include the expanding focus on research and development to enhance the safety and efficacy of ophthalmic surgeries, the rising preference for minimally invasive procedures, and the increasing support from governments and non-governmental organizations for ophthalmic care.
Competitive Landscape with Key Players:
- Alcon Inc.
- Altacor Limited
- Bausch Health Companies Inc.
- Bohus Biotech Ab
- Carl Zeiss Meditec Ag
- Cima Technology Inc
- Eyekon Medical Inc.
- Johnson & Johnson
- RUMEX International Co.
Key Market Segmentation:
Product Insights:
- Cohesive Ophthalmic Viscoelastic
- Dispersive Ophthalmic Viscoelastic
Application Insights:
- Cataract Surgery
- Glaucoma Surgery
- Corneal Transplant
- Vitreoretinal Surgery
End User Insights:
- Hospitals
- Ophthalmic Clinics
- Others
Breakup by Region:
- North America (United States, Canada)
- Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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