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Ophthalmic Viscoelastic Devices (OVD) Market

Ophthalmic Viscoelastic Devices (OVD) Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, Application and End User : Global Opportunity Analysis and Industry Forecast, 2019-2026

LS : Medical Devices & Supplies

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Author's: Sanjivan Gill | Roshan Deshmukh
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Ophthalmic Viscoelastic Devices Market Outlook - 2026

The global ophthalmic viscoelastic devices market accounted for $2,332 million in 2018, and is expected to reach $3,226 million by 2026, registering a CAGR of 4.12% from 2019 to 2026. 

Ophthalmic viscoelastic devices (OVDs) are used by ophthalmologists in different eye surgeries such as cataract surgery, glaucoma surgery, and others. These devices aid in protecting the delicate ocular structures along with creating pressure in the anterior chamber, compartmentalizing inside the eye, and offering a faster and safer surgery with better recovery for the patients. The ophthalmologists employ various types of ophthalmic instruments depending upon the requirement. Thus, ophthalmic viscoelastic devices play an important role in the treatment of different eye ailments during the surgery across the globe. 

Rise in government initiatives that aim at setting up guidelines to control the increase in vision impairment across the globe are compelling the key manufacturers to introduce novel ophthalmic devices in the market. Moreover, surge in prevalence of cataract and glaucoma, increase in number of eye surgeries performed, and rise in geriatric population are other factors contribute toward the growth of the OVD market. In addition, surge in adoption of viscoelastic devices across the globe also boosts the growth of the viscoelastic devices market. Furthermore, growth potential offered by developing economies present lucrative opportunities during the forecast period. However, high cost of ophthalmic surgeries and low accessibility to eye care in low income countries hinder the growth of the market. 

Ophthalmic Viscoelastic Devices Market Segmentation  

The ophthalmic viscoelastic devices market is segmented based on product, application, end user, and region to provide a detailed assessment of the market. Based on product, the market is divided into cohesive ophthalmic viscoelastic and dispersive ophthalmic viscoelastic. Based on application, the OVD market is classified into cataract surgery, glaucoma surgery, corneal transplant, and vitreoretinal surgery. Based on end user, the market is divided into hospitals, ophthalmic clinics, others, cardiovascular disorders, and others. Based on region, the ophthalmic viscoelastic devices market size is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa and rest of LAMEA).

Ophthalmic Viscoelastic Devices (OVD) Market

Segment review

Based on product, the market is segmented into cohesive ophthalmic viscoelastic and dispersive ophthalmic viscoelastic. The cohesive ophthalmic viscoelastic segment acquired the largest ophthalmic viscoelastic devices market share in 2018. Furthermore, this segment is also expected to grow with fastest rate during the forecast period owing to wide array of benefits they provide in cataract surgery. For instance, cohesive ophthalmic viscoelastic aid in creating and maintain space in the anterior segment of the eye, inflation of capsular bag prior to lens implantation and reduction of deleterious vector forces. Moreover, cohesive ophthalmic viscoelastic are easier to remove from the eye post-surgery which serves as another major advantage in the growth of this market.

Ophthalmic Viscoelastic Devices (OVD) Market By Product

According to application, the cataract surgeries in the application segment generated the highest revenue in 2018 and is expected to maintain its dominance throughout the forecast period. This is attributed to growth in the prevalence of cataract that was witnessed over the years across the globe and is expected to maintain this trend in the future. Moreover, ophthalmic viscoelastic devices play an important role in the patients suffering from cataract by providing pressure to the anterior chamber and protecting the eye from getting damaged during the cataract surgeries. Presently, cataract can be treated efficiently using advanced ophthalmic devices with higher efficiency in less time. Thus, increased geriatric population and technological advancement in ophthalmic viscoelastic devices has driven the demand for the use of ophthalmic viscoelastic devices worldwide. In addition, the glaucoma surgery segment is expected to exhibit fastest growth owing to the advancements in the surgical techniques and rise in the use of glaucoma drainage implants. 

Ophthalmic Viscoelastic Devices (OVD) Market By Application

North America occupied the largest share of the OVD market in 2018 and is expected to maintain its dominance during the forecast period owing to easy availability of skilled ophthalmologists and viscoelastic devices, rise in number of cataract surgeries performed, presence of majority of key players, and surge in government intervention for prevention of visual impairment. However, Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to its high population base, surge in disposable income, and rise in patient awareness toward eye care. In addition, increase in the geriatric population that is highly susceptible to glaucoma and cataract is the key contributor for the market growth in the region.

Ophthalmic Viscoelastic Devices (OVD) Market By Region

The major companies profiled in this report include Bausch Health Companies, Inc., Eyekon Medical Inc., Bohus Biotech Ab, Carl Zeiss Meditec AG, Cima Technology Inc, Johnson & Johnson, Novartis International AG (Alcon Inc.), Rumex International Corporation, Haohai Biological Technology, and Altacor.

Key Benefits for Ophthalmic Viscoelastic Devices Market :

  • This report entails a detailed quantitative analysis along with the current ophthalmic viscoelastic devices market trends of the market from 2018 to 2026 to identify the prevailing opportunities along with the strategic assessment of the global market. 
  • The ophthalmic viscoelastic devices market forecast is studied from 2019 to 2026. 
  • The market size and estimations are based on a comprehensive analysis of key developments in the ophthalmic viscoelastic devices industry.
  • A qualitative analysis based on innovative products facilitates strategic business planning.
  • The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market

Ophthalmic Viscoelastic Devices (OVD) Market Report Highlights

Aspects Details
By Product
  • Cohesive Ophthalmic Viscoelastic
  • Dispersive Ophthalmic Viscoelastic
By Application
  • Cataract Surgery
  • Glaucoma Surgery
  • Corneal Transplant
  • Vitreoretinal Surgery
By End User
  • Hospitals
  • Ophthalmic Clinics
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, France, UK, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Key Market Players

Altacor, Carl Zeiss Meditec Ag, Bausch Health Companies, Inc., Eyekon Medical Inc., Cima Technology Inc, Johnson & Johnson, Haohai Biological Technology, Rumex International Corporation, Bohus Biotech Ab, Novartis International AG (Alcon Inc.)

Analyst Review

Ophthalmic viscoelastic devices exhibit two properties simultaneously. These include viscosity of a fluid and elasticity of a gel. Due to these properties, these devices are utilized in various eye surgeries such as glaucoma surgery, corneal transplant, and others. Viscoelastic devices have various benefits such as providing protection to the cornea during surgery, creating space in the anterior chamber of the eye, and others.

The utilization of ophthalmic viscoelastic devices for the eye-related surgeries is expected to witness significant growth, owing to increase in prevalence of eye-related diseases and technological advancements in the ophthalmic viscoelastic devices. It is largely utilized across various eye-related surgeries including cataract, glaucoma, vitreoretinal surgery, and corneal transplant. Cataract is highly prevalent and if diagnosed earlier can be treated through surgeries. This propels the utilization of different ophthalmic viscoelastic devices depending upon the requirement such as cohesive ophthalmic viscoelastic devices, and dispersive ophthalmic viscoelastic devices. In addition, significant increase in the geriatric population, increased disposable income, skilled ophthalmologists, and their preference toward the use of ophthalmic viscoelastic devices for performing eye related surgeries is set to propel the market growth in near future.

Moreover, rise in government initiatives to control visual impairment are anticipated to increase awareness regarding available latest eye testing technologies among patients suffering from eye-associated disorders. Conversely, less accessibility to eye care in low income countries poses a restrain to the market. Whereas, development of advanced ophthalmic viscoelastic devices by key manufacturers is expected open new avenues for the expansion of the ophthalmic viscoelastic devices market.

Author Name(s) : Sanjivan Gill | Roshan Deshmukh

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Ophthalmic Viscoelastic Devices (OVD) Market

Global Opportunity Analysis and Industry Forecast, 2019-2026