Ophthalmic Viscosurgical Devices Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Ophthalmic Viscosurgical Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Global ophthalmic viscosurgical devices market size is anticipated to surge at a considerable pace in the forthcoming years, owing to the increasing rate of cataract surgeries worldwide. These devices are considered as the crucial tools in performing anterior segment surgery.

For example, in December 2019, a leading eye health business, Bausch + Lomb, initiated a clinical trial to evaluate the safety & efficacy of a new cohesive OVD. The trial was geared towards offering a new treatment option to cataract surgeons in the continuum of cohesive & dispersive viscoelastics.

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OVDs are transparent and gel-like substances that have viscous and elastic properties. These viscoelastic substances are a set of components developed to protect the internal eye tissue during surgical procedures. Viscosurgical devices were initially used to maintain space in the human eye during the implantation of intraocular lenses.

Patients with Intraoperative floppy iris syndrome (IFIS) or small pupils can be treated by using specific OVDs to stabilize and enlarge pupil size. These factors will significantly contribute to overall ophthalmic viscosurgical devices market expansion over the forecast spell.

An in-depth research study conducted by GMI, predicts that ophthalmic viscosurgical devices industry size will surpass the valuation of around $1 billion by 2026.

In 2019, keratoplasty surgery segment witnessed remarkable growth and is expected to record a 10% CAGR over 2020-2026. In recent years, the number of corneal transplantation surgeries/keratoplasty has augmented remarkably. The Eye Bank Association of America states that in 2018, the U.S. witnessed distribution of almost 85,441 tissues (corneal transplants) for keratoplasty across the country. People are increasingly preferring keratoplasty for treating corneal pathologies and adopting lamellar keratoplasty, which is expected to significantly influence ophthalmic viscosurgical devices market trends.

In 2019, cohesive OVD segment accounted for almost $170 million and is anticipated to accrue remarkable growth in the ensuing years. The growth is likely to stem from numerous benefits delivered by OVDs during cataract surgery. Rising demand for cohesive ophthalmic viscoelastic aid for expanding capsular bag before lens implementation is projected to increase ophthalmic viscosurgical devices industry demand.

In 2019, hospital segment accounted for more than 44% in the overall ophthalmic viscosurgical devices market share. The segmental growth can be accredited to the escalating availability of advanced infrastructure and the presence of innovative technologies in hospitals. Also, governments in developing and developed countries have been introducing various initiatives to lessen the price for performing ophthalmic surgeries in hospitals. They have been providing several supportive reimbursement policies, which are estimated to better the growth of ophthalmic viscosurgical devices industry size.

Taking regional contribution into consideration, in 2019, Asia Pacific ophthalmic viscosurgical devices market accrued almost $57 million in revenue. The regional growth can be attributed to a large patient pool with chronic ophthalmic diseases. Surging incidences of diabetic eye disorders, such as diabetic macular edema (DME) and diabetic retinopathy will spur the overall business growth.

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Also, the rapidly soaring elderly population is more prone to several eye disorders. Governments in the region are outlaying massive amounts and implementing various initiatives, which when coupled with rising healthcare expenses are likely to be major driving factors for Asia Pacific ophthalmic viscosurgical devices industry trends. 

Amplifying growth prospects in ophthalmic viscosurgical devices market have pushed companies to leverage the popularity of these products. Companies are adopting various strategies, such as acquisitions, collaborations, product development to gain a competitive edge. For instance, in July 2018, Amring Pharmaceuticals, Inc., rolled out Biolon OVD for use in cataract surgery. The product was launched to provide this economic device in the U.S. and retain its standing in ophthalmic viscosurgical devices industry.

A few more eminent ophthalmic viscosurgical devices industry players are Bausch & Lomb, Alcon, Sidapharm, Johnson & Johnson Surgical Vision, and Precision Lens among others. 

Partial Chapter of the Table of Content 

Chapter 2.  Executive Summary

2.1. Ophthalmic viscosurgical devices (OVD) industry 360° synopsis, 2015-2026

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  Application trends

2.1.4.  End-use trends

2.1.5.  Regional trends

Chapter 3.  Ophthalmic Viscosurgical Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2015 - 2026

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.   Rapidly growing geriatric population

3.3.1.2.   Increasing incidence of ophthalmic and ocular condition in developing countries

3.3.1.3.   Expanding base of diabetic patients worldwide

3.3.1.4.    Technological advancements

3.3.1.5.    Growing demand and preference for non-invasive treatment

3.3.2.  Industry pitfalls & challenges

3.3.2.1.   High cost of ophthalmic devices

3.3.2.2.    Risk associated with eye surgeries

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By application

3.4.3.  By end-use

3.5. Porter’s analysis

3.6. Competitive landscape

3.6.1.  Strategy dashboard, 2019

3.7. PESTEL analysis 

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