Ophthalmic Viscoelastic Devices (OVD) Industry Summary:
The global ophthalmic viscoelastic devices (ovd) market size reached USD 2.7 Billion in 2023.
The market is expected to reach USD 3.7 Billion by 2032, exhibiting a growth rate (CAGR) of 3.52% during 2024-2032.
North America leads the market, accounting for the largest ophthalmic viscoelastic devices (ovd) market share.
Cohesive ophthalmic viscoelastic accounts for the majority of the market share in the product segment due to its ease of removal, high molecular weight, and ability to maintain space during ophthalmic procedures.
Cataract surgery represents the leading application segment, owing to the rising prevalence of cataracts among the aging population, advancements in surgical techniques, and increasing access to healthcare services.
Hospitals account for the majority of the market share in the end-user segment due to the availability of advanced medical infrastructure, skilled ophthalmologists, and a higher volume of cataract and other ophthalmic surgeries performed in these settings.
The increasing prevalence of cataracts, glaucoma, and other age-related eye disorders, particularly among the growing aging population, is driving demand for ophthalmic surgeries, making OVDs essential for safe and effective procedures.
Innovations in cataract surgeries, such as phacoemulsification and laser-assisted methods, are fueling the demand for advanced OVDs that enhance surgical safety, precision, and patient outcomes.
The IMARC Group's latest research report, titled "Ophthalmic Viscoelastic Devices (OVD) Market by Product (Cohesive Ophthalmic Viscoelastic, Dispersive Ophthalmic Viscoelastic), Application (Cataract Surgery, Glaucoma Surgery, Corneal Transplant, Vitreoretinal Surgery), End User (Hospitals, Ophthalmic Clinics, and Others), and Region 2024-2032," offers a comprehensive analysis of the ophthalmic viscoelastic devices (ovd) market forecast. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
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Industry Trends and Drivers:
Rising Prevalence of Eye Disorders:
The rising prevalence of eye disorders is one of the primary factors bolstering the ophthalmic viscoelastic devices (ovd) market share. Cataracts, in particular, are one of the leading causes of vision impairment globally, and the demand for surgical interventions is continuously growing. With millions of cataract surgeries performed each year, OVDs have become an integral part of these procedures, as they provide protection to the eye's delicate structures during surgery by maintaining the anterior chamber and stabilizing the intraocular lens. In addition to cataracts, glaucoma and retinal detachment surgeries also rely heavily on OVDs.
The devices create a cushioning effect that allows surgeons to manipulate the ocular tissues more efficiently while minimizing damage. The growing number of patients with these conditions, coupled with advancements in surgical techniques, is significantly propelling the demand for OVDs. As the number of patients diagnosed with eye disorders continues to rise, driven by factors such as aging, lifestyle changes, and increased screen time, the need for safe and effective ophthalmic interventions is expected to fuel the market for OVDs. The continuous rise in surgeries for correcting vision problems makes OVDs a key component in ophthalmic care.
Growing aging population:
The ophthalmic viscoelastic devices (ovd) market trends indicate that the growing aging population is strengthening the market growth. The elderly are more likely to require surgical interventions, especially cataract surgery, which is one of the most commonly performed procedures in this age group. OVDs play a crucial role in these surgeries by providing a stable environment for the surgeon to operate safely. They protect delicate eye structures, ensure clearer vision post-surgery, and reduce the risk of complications.
As healthcare systems worldwide place more emphasis on improving the quality of life for the aging population, there is a rising focus on ophthalmic care. This demographic shift is creating a sustained demand for OVDs, as the aging population seeks to maintain their vision and independence. The combination of growing life expectancy and increasing awareness of eye care has led to a surge in ophthalmic procedures, directly benefiting the OVD market.
Advancements in Cataract Surgery Techniques:
The continual advancements in cataract surgery techniques are contributing to the expanding ophthalmic viscoelastic devices (ovd) market size. Traditional cataract surgery has evolved over the years with the development of phacoemulsification, femtosecond laser-assisted surgeries, and other minimally invasive procedures. These innovations have made cataract removal safer, quicker, and more efficient, leading to better visual outcomes and faster recovery times. OVDs are integral to these modern surgical techniques.
During cataract surgeries, OVDs are used to protect the corneal endothelium, maintain the shape of the anterior chamber, and ensure that the intraocular lens is placed correctly. With the adoption of advanced technologies, surgeons now require OVDs that can offer superior performance in terms of viscosity, elasticity, and ease of use. The growing preference for premium intraocular lenses (IOLs) and custom cataract surgeries also increases the demand for high-quality OVDs that can adapt to different surgical requirements. The continuous advancements in cataract surgery techniques are driving the need for more specialized and effective OVDs.
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Ophthalmic Viscoelastic Devices (OVD) Market Report Segmentation:
Breakup By Product:
Cohesive Ophthalmic Viscoelastic
Dispersive Ophthalmic Viscoelastic
Cohesive ophthalmic viscoelastic accounts for the majority of shares due to its superior ease of removal and effectiveness during surgery.
Breakup By Application:
Cataract Surgery
Glaucoma Surgery
Corneal Transplant
Vitreoretinal Surgery
Cataract surgery exhibits a clear dominance owing to its high prevalence and increasing number of procedures globally.
Breakup By End-User:
Hospitals
Ophthalmic Clinics
Others
Hospitals exhibit a clear dominance owing to their advanced surgical infrastructure and higher patient influx.
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)
North America holds the leading position owing to its well-established healthcare system and high adoption of advanced ophthalmic technologies.
Top Ophthalmic Viscoelastic Devices (OVD) Market Leaders:
The ophthalmic viscoelastic devices (ovd) market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
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.
Note: For any specific information beyond the report's current scope, we offer customization to meet your needs.
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