The Ophthalmic Viscoelastic Devices (OVDs) are the viscoelastic solution used during eye surgery for intent to coat and protect delicate intraocular tissues. This new technique is used in cataract, glaucoma, corneal, and vitreoretinal surgeries. The major driving factor for the market are increasing number of cataract and glaucoma surgeries, favorable reimbursement policies and developments in OVDs. Rising geriatric population and increasing diabetic population has also contributed in the growth of the market. Whereas, lack of general awareness among people about eye disorders has restrained the growth of market.
The Ophthalmic Viscoelastic Devices (OVD) Market is expected to reach $ 1,203.26 million by the end of 2027, this market is projected to growing at a CAGR of ~ 11.6 % during 2017-2027.
Global Ophthalmic Viscoelastic Devices (OVD) Market – Key Players
Key players profiled in the report are Johnson & Johnson, Alcon Laboratories Inc., Bausch & Lomb, Carl Zeiss AG, Rayner Company, Bohus BioTech AB, Lifecore Biomedical LLC and others.
Global Ophthalmic Viscoelastic Devices (OVD) Market – Key finding
- The Global Ophthalmic Viscoelastic Devices Market is growing at a growth rate of 11.59% during the period 2017-2027. Increasing prevalence of cataract and glaucoma surgeries, advances in the ophthalmic viscoelastic devices, and the increasing diabetic population are some of the major factors responsible for market growth.
- Currently, cohesive OVDs accounts for the largest market share in the global scenario due to their advantages and long history. They are easily removed from the eye, they have high molecular weight and high viscosity, making them the perfect agent for maintaining the space. There has been significant growth in the demand for the cohesive OVDs.
- Johnson & Johnson, Alcon Laboratories, Inc., Bausch & Lomb, Carl Zeiss AG are some of the prominent market players in the ophthalmic viscoelastic devices (OVDs) market.
Global Ophthalmic Viscoelastic Devices (OVD) Market – Segmentation
The Global Ophthalmic Viscoelastic Devices (OVD) Market is segmented on the basis of types, application and end users. Based on types, the market has been segmented as cohesive ophthalmic viscoelastic devices (OVD) and dispersive ophthalmic viscoelastic devices (OVD). Based on the application, the market has been segmented as cataract surgery, glaucoma surgery, corneal transplantation and vitreoretinal surgery. Based on the end users, the market has been segmented as ophthalmic clinics & phaco centers, hospitals and academic & research institutes.
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Global Ophthalmic Viscoelastic Devices (OVD) Market – Regional Analysis
In the Americas region, North America commands the largest market share in 2016 at 74.35% in 2016 while South America is expected to be the fastest growing segment with the CAGR of 11.6% during the forecasted period.
US accounts for the maximum market share due to favorable reimbursement scenario and greater expenditure on healthcare. The faster market uptake of new technology in the US is also an important driver of the market for global ophthalmic viscoelastic devices (OVD).
Europe is the second largest market due to large disposable income and rising awareness.
Asia Pacific region is expected to have the most potential and it is estimated to be led by China and India. Asia pacific region is expected to be the fastest growing segment with the CAGR of 12.0%during the forecasted period.
The Middle East & Africa market is led by the gulf nations particularly Saudi Arabia and UAE. The poor regions of Africa are expected to be a laggard due to poor economic and political conditions and poor healthcare penetration.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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