Global Ophthalmic Viscosurgical Devices (OVD) market accrued revenue worth nearly 299.05 (USD Million) in 2019 and record the CAGR of about 7.7% over the period from 2020 to 2026.
Ophthalmic Viscosurgical Devices (OVD) Market
The global Ophthalmic Viscosurgical Devices (OVD) market accrued revenue worth nearly 299.05 (USD Million) in 2019 and record a CAGR of about 7.7% over the period from 2020 to 2026. The report offers an assessment and analysis of the Ophthalmic Viscosurgical Devices (OVD) market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Million).
Ophthalmic viscosurgical Devices find myriad applications in cataract surgeries as viscoelastic solutions for developing and maintaining space in eyelids' anterior chamber. Apart from this, Ophthalmic Viscosurgical instruments find a slew of applications during phacoemulsification and execution of intraocular lenses for protecting corneal endothelium as well as coating surgical equipment.
Furthermore, these products are transparent and gel-like viscous materials possessing elastic features. They have properties like solids and fluids. Ophthalmic viscosurgical Devices (OVDs) have gained popularity due to their ability to offer protection to corneal endothelium at the time of cataract surgery. New OVDs play a vital role in creating novel approaches to cataract surgeries. Breakthroughs in Ophthalmic Viscosurgical instruments are key for carrying out regular as well as complex cataract surgeries.
Moreover, the products permit good retention, defense, and removal at the time of phacoemulsification surgeries. Apart from this, Viscoadaptive materials were launched as a specific Material Used in Ophthalmic Viscosurgical equipment and differentiated through a high proportion of viscosity at less rate of flow with an inclination to fracture at higher rates of flow. Additionally, the soft shell procedure highlights the rheology of Viscoadaptive Ophthalmic Viscosurgical Devices for carrying out phacoemulsification surgeries, thereby exploring all key features of OVDs in view of offering protection to the tissues as well as maintaining space.
A prominent surge in the aging population prone to cataract problems is likely to embellish the expansion of the Ophthalmic Viscosurgical Devices (OVD) Market over the forecast timespan. Apart from this, an increase in the number of diabetics along with rising consciousness pertaining to complications arising due to diabetes is anticipated to accelerate the growth rate of the industry over the forthcoming years. Additionally, the rise in cases of age-related macular degeneration as well as glaucoma is the major market growth driver.
Furthermore, the use of OVDs in cataract surgical procedures for protecting ocular structures, cataloging inside the eye, pressurizing the internal eye chamber, and enabling safe & quick cataract surgery along with good eye vision recovery for the patients will boost the market trends. Citing an instance, Healon, a first commercially available Ophthalmic Viscosurgical Device brought a revolution in the cataract surgical procedure and paved a way for the development of new surgical products as well as innovative Ophthalmic Viscosurgical instruments.
The regional market growth over the forecast timeline is credited to growing awareness about cataract surgeries in the countries like the U.S. and Canada. Apart from this, easy access to myriad eye treatment alternatives in the region will further amplify the business sphere in the sub-continent.
Key participants profiled in the report include Amring pharmaceutical Inc., Johnson & Johnson Services, Inc., Rayner Intraocular Lenses Limited, Carl Zeiss Meditec AG, Bohus Biotech AB, Bausch & Lomb Incorporated, Alcon AG, and Beaver-Visitec International, Inc.
The global ophthalmic viscosurgical devices (OVD) market is segmented as follows:
The key growth drivers that will leverage the market growth include rise in the geriatric population susceptible to cataract problems along with rise in the cases of diabetics globally.
The CAGR of the industry is expected to be nearly over 7.7% during the forecast timespan.
North American region will contribute remarkably towards the global market revenue share over the estimated timeline.
The key market participants include Amring pharmaceutical Inc., Johnson & Johnson Services, Inc., Rayner Intraocular Lenses Limited, Carl Zeiss Meditec AG, Bohus Biotech AB, Bausch & Lomb Incorporated, Alcon AG, and Beaver-Visitec International, Inc.
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