According to the latest report by IMARC Group, 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 2023-2028,” the global ophthalmic viscoelastic devices (OVD) market size reached US$ 2.61 Billion in 2022. Ophthalmic viscoelastic devices (OVDs) are specialized substances used in ophthalmic surgeries to maintain space within the eye, facilitate surgical procedures, and protect delicate eye structures. OVDs are gel-like materials with varying viscosities that offer temporary support and create a controlled environment during surgeries such as cataract removal, intraocular lens implantation, and other intricate eye procedures. OVDs serve multiple functions, including maintaining the anterior chamber depth, protecting the corneal endothelium, and ensuring stable conditions for precise surgical maneuvers. They are typically composed of biocompatible materials, such as hyaluronic acid, chondroitin sulfate, and sodium hyaluronate, ensuring minimal risk of adverse reactions within the eye. During surgery, OVDs are introduced into the eye through a tiny incision and carefully distributed to maintain the necessary space between the cornea and lens. This separation enhances visibility for the surgeon and shields delicate eye structures from potential damage. Once the procedure is complete, OVDs can be gently removed from the eye.
Global Ophthalmic Viscoelastic Devices (OVD) Market Trends:
The evolution of minimally invasive and micro-incisional ophthalmic surgical techniques represents one of the key factors driving the growth of the market across the globe. These devices provide essential support during delicate surgeries, such as cataract removal, corneal transplantation, and glaucoma procedures. OVDs create and maintain space within the eye, offering surgeons improved visibility and enhanced control during intricate maneuvers. As medical technology advances, OVDs are increasingly recognized for their pivotal role in ensuring successful outcomes in modern eye surgery. The global increase in the aging population is leading to a higher prevalence of age-related eye conditions, such as cataracts and presbyopia. These conditions often require surgical intervention, which is facilitating the demand for OVDs. As individuals seek to maintain their visual health and quality of life, the adoption of advanced ophthalmic procedures supported by OVDs has become more prevalent. Additionally, OVDs aid in protecting delicate eye structures during surgery, addressing the increased susceptibility of older patients to eye-related complications. OVD manufacturers continue to innovate, developing new formulations and improving the performance of existing products. These advancements result in OVDs with enhanced viscosity, cohesive properties, and biocompatibility, which is improving their effectiveness in maintaining space, minimizing trauma, and ensuring better surgical outcomes. Surgeons and healthcare professionals are increasingly inclined to adopt these innovative solutions, which is driving the market growth. The trend toward outpatient surgical procedures, driven by cost-effectiveness and patient convenience, is positively impacting the growth of the market. OVDs enable efficient and successful outpatient eye surgeries by aiding surgeons in achieving accurate and safe procedures. As the demand for outpatient services continues to rise, the reliance on OVDs as essential tools for maintaining optimal surgical conditions is increasing. The growing awareness about the importance of regular eye examinations and advancements in healthcare infrastructure is expanding access to eye care services across regions. This results in earlier detection of eye conditions and an increase in elective eye surgeries. The use of OVDs contributes to the successful execution of these procedures, which is creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 3.32 Billion by 2028, expanding at a CAGR of 4.0% during 2023-2028.
- Based on the product, the market has been segmented into cohesive ophthalmic viscoelastic, and dispersive ophthalmic viscoelastic. Presently, cohesive ophthalmic viscoelastic holds the largest market share across the globe.
- On the basis of the application, the market has been classified into cataract surgery, glaucoma surgery, corneal transplant, and vitreoretinal surgery. Currently, cataract surgery is dominating the market across the globe.
- Based on the end-user, the market has been categorized into hospitals, ophthalmic clinics, and others. Presently, hospitals are dominating the market across the globe.
- Region-wise, the market has been segmented into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Presently, North America holds the largest market share across the globe.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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., etc.
|Base Year of the Analysis
||Cohesive Ophthalmic Viscoelastic, Dispersive Ophthalmic Viscoelastic
||Cataract Surgery, Glaucoma Surgery, Corneal Transplant, Vitreoretinal Surgery
|End Users Covered
||Hospitals, Ophthalmic Clinics, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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., etc.
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