The new report by Expert Market Research titled, ‘Global Ophthalmic Viscoelastic Devices (OVD) Market Share, Size, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global ophthalmic viscoelastic devices (OVD) market, assessing the market based on its segments like product, application, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4.1%
The increasing prevalence of cataract among the geriatric population is driving the demand for ophthalmic viscoelastic devices. Older people are susceptible to eye injuries and collapses. Hence, OVD devices are of great importance in the surgeries among the geriatrics. Over the forecast period, the prolonged exposure of the working-class population to sun and electronic screens is likely to lead to eye disorders, which in turn are likely to boost the demand for ophthalmic viscoelastic devices in eye care centres and hospitals.
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In terms of region, North America accounts for a significant share in the market owing to the advanced eyecare infrastructure in the United States of America and Canada.
Ophthalmic Viscoelastic Devices (OVD) Industry Definition and Major Segments
Ophthalmic viscoelastic devices (OVD) are the devices which makes the eye surgery or incision easier and comfortable. In other words, these devices reduce the risk of eye collapse during incision in a patient. Most commonly, ophthalmic viscoelastic devices are used in cataract and glaucoma surgeries. The nature of these devices can vary according to the needs.
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On the basis of product, the market can be bifurcated into:
- Cohesive Ophthalmic Viscoelastic
- Dispersive Ophthalmic Viscoelastic
The significant applications of these devices include:
- Cataract Surgery
- Glaucoma Surgery
- Corneal Transplant
- Vitreoretinal Surgery
The major end uses of these devices include:
- Hospitals
- Ophthalmic Clinics
- Others
The regional markets for ophthalmic viscoelastic devices (OVD) include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Ophthalmic Viscoelastic Devices (OVD) Market Trends
The key trends in the ophthalmic viscoelastic devices (OVD) market include the increasing healthcare expenditure in the emerging economies, coupled with the increasing awareness pertaining to eye care. The robust investments towards the development of eye care centres and facilities are likely to be the crucial trends in the market.
Over the forecast period, the growing research and development activities by the major medical equipment manufacturers aimed towards introducing new ophthalmic equipment in the market are anticipated to be the major driving trends. Moreover, the rising disposable income of the population across the emerging economies are likely to provide impetus to the market in the coming years.
Key Market Players
The major players in the market are Bausch & Lomb, Inc., Altacor Ltd., Carl Zeiss Meditec AG, Rumex International Co., Eyekon Medical Inc, Bohus Biotech AB, Shanghai Haohai Biological Technology Co., Ltd., and Alcon Vision LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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