Ophthalmic Viscoelastic Devices (OVDs) Market: Global Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013 to 2017 and Forecast 2018 to 2024
Global Ophthalmic Viscoelastic Devices (OVDs) Market: By Type (Cohesive Ophthalmic Viscoelastic Devices (OVD) and Dispersive Ophthalmic Viscoelastic Devices (OVD)), By Application (Vitreoretinal Surgery, Glaucoma Surgery, Cataract Surgery, and Corneal Transplantation), By End User (Hospitals, Ophthalmology Clinics, and Others), and Geography – Market Size, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global ophthalmic viscoelastic devices market was valued at US$ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) from 2018 to 2024
Market Outline: Ophthalmic Viscoelastic Devices (OVDs) Market
Ophthalmic viscoelastic devices (OVDs) are the medical devices that are used in the cataract surgery in order to create and maintain the space in the anterior chamber of the eye during phacoemulsification and implantation of an intraocular lens (IOL). There are various types of the ophthalmic viscoelastic devices such as dispersive ophthalmic viscoelastic device and cohesive ophthalmic viscoelastic device. Most of the ophthalmic viscoelastic devices (OVDs) contain sodium hyaluronate (NaHA) or hydroxypropyl methylcellulose (HPMC).
Increase in the prevalence of eye diseases and rise in the number of cataract and glaucoma surgeries are driving the growth of ophthalmic viscoelastic devices (OVDs) market. The favorable reimbursement policies for surgeries using ophthalmic viscoelastic devices (OVDs) and strategic approach of the manufacturers help them sustain the growth and expansion in the market. The collaborations, mergers and acquisitions among vendors are helping to drive the R&D activities which are expected to create the market growth. However, the availability of alternate therapies, poor healthcare infrastructure, and the lack of awareness among the healthcare fraternity may hinder the growth of the ophthalmic viscoelastic devices (OVDs) market over the forecast period.
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Market Scope: Ophthalmic Viscoelastic Devices (OVDs) Market
Ophthalmic viscoelastic devices market is segmented based on the type, application, end user, and region
Based on the type, the market is segmented into the following:
- Cohesive ophthalmic viscoelastic devices (OVD)
- Dispersive ophthalmic viscoelastic devices (OVD)
Based on the application, the market is segmented into the following:
- Vitreoretinal Surgery
- Glaucoma Surgery
- Cataract Surgery
- Corneal Transplantation
Based on the end user, the market is segmented into the following:
- Hospitals
- Ophthalmic clinics
- Others
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Regional Analysis: Ophthalmic Viscoelastic Devices (OVDs) Market
Geographically, global ophthalmic viscoelastic devices market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America ophthalmic viscoelastic devices market growth driven by increase in the prevalence of eye diseases. The growing geriatric population and higher adoption of the newer technology expected to drive the market growth in the region. Falling in the second place is the European region. The growing awareness about the advanced treatments among the patient population and large disposable income is emerging markets in the region driving the market revenue growth. The Asia Pacific region is expected to be growing faster over the forecast period.
Competition Assessment: Ophthalmic Viscoelastic Devices (OVDs) Market
Some of the players in the global ophthalmic viscoelastic devices market include:
- Johnson & Johnson ((U.S)
- Alcon Laboratories Inc. (Switzerland)
- Bausch & Lomb (U.S)
- Carl Zeiss AG (Germany)
- Rayner Company (UK)
- Bohus BioTech AB (Sweden)
- Lifecore Biomedical LLC (U.S)
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Notable Market Developments: Ophthalmic Viscoelastic Devices (OVDs) Market
- In July 2015, Rayner Surgical Group Limited (‘Rayner’), the pioneering manufacturer of intraocular lenses for cataract surgery, has acquired the ophthalmic cataract surgery business of Aptissen SA (Geneva, Switzerland)
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