Ophthalmic Viscosurgical Devices Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028

Published Date : Jan 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Ophthalmic Viscosurgical Devices market size is expected to be worth around US$ 550.1 million by 2028, according to a new report by Vision Research Reports.

The global Ophthalmic Viscosurgical Devices market size was valued at US$ 300.2 million in 2020 and is anticipated to grow at a CAGR of 8.01% during forecast period 2021 to 2028.

Growth Factors

Inc. Steady rise in geriatric population coupled with high prevalence of ocular disorders is expected to drive the growth. Constantly developing ophthalmic care facilities are expected to contribute to the demand for Ophthalmic Viscosurgical Devices (OVDs) in near future.

Increasing prevalence of diabetes is expected to be a major factor boosting the market growth. Patients with both type 1 and type 2 diabetes are prone to develop cataract at some point in time. Currently, the surgical procedure is the only treatment option for cataract, thereby driving the demand for ophthalmic viscosurgical devices-an integral part of the cataract surgery. Furthermore, the global burden of cataract can be subjected to the increasing Cataract Surgical Rate (CSR) in countries, such as India, Japan, U.S., and several Western European countries.

Favorable government and non-government initiatives, such as ophthalmic screening programs, state and national eye care schemes, ophthalmic training, and education programs are expected to play a significant role in the ophthalmic viscosurgical devices market growth. For instance, the World Diabetes Foundation conducts training and development programs for ophthalmic HCP at primary care in regions of underdeveloped economies, improving the reach and awareness of cataract treatment procedures.

Report Highlights

Based on type, the ophthalmic viscosurgical devices market is segmented into cohesive, dispersive, and viscoadaptive. Dispersive ophthalmic viscosurgical devices provide endothelial protection and are also used for lubricating surgical devices and Whereas, cohesive ophthalmic viscosurgical devices are high molecular weight viscoelastic and are used for anterior chamber space maintenance during insertion and removal of IOLs. Therefore, both cohesive and dispersive OVDs are concomitantly used in performing routine ocular surgeries.

Most of the major market players have a combination package of cohesive and dispersive OVD contained in a single unit, considering both OVDs are used simultaneously during procedures. The combination package is cost-effective, ensures quality standards, and eases out ophthalmic surgeons’ activities. For instance, DuoVisc is a brand of Alcon that contains both dispersive OVD VisCoat and a Cohesive OVD ProVisc contained in a single package.

Viscoadaptive ophthalmic viscosurgical devices segment is expected to register the fastest CAGR over the forecast period, attributed to the increasing number of complex ocular surgical cases and its biphasic benefit eliminating the need for two syringes. viscoadaptive OVD acts as both cohesive as well as dispersive contained in a single syringe and its conversion into cohesive or dispersive depend upon the applied shear rate. They are preferred in complex ocular surgeries such as pediatric cataract surgery, patient with floppy iris syndrome, trauma, Fuchs dystrophy, and other cases to avoid post-surgical complications.

The most commonly used viscoelastic are sodium hyaluronic acid, chondroitin sulfate, and methylcellulose. Sodium hyaluronate and chondroitin sulfate can be obtained from both animal and biological origin, but methylcellulose is obtained from a synthetic source. Methylcellulose is commercially available in the form of Hydroxypropyl Methyl Cellulose (HPMC) they are used for lubricating surgical equipment and IOL due to their exceptional wetting and coating properties.

Sodium hyaluronate based ophthalmic viscosurgical devices is extensively used in ophthalmic surgery due to the properties, such as high moisture retention, biocompatibility, and purity. Sodium hyaluronate from the biological origin is rapidly being replaced by its synthetic version because it eliminates the need for harsh extraction conditions, purification cost, and yield issues concerned with animal origin.

Viscoelastic from biological sources are preferred over animal sources. However, the presence of bacterial endotoxin which capable of initiating inflammatory response on usage could restrain the demand. Therefore, the current trends are genetically engineered host bacteria free from endotoxin production in this segment. Since viscoelastic is the core component in OVDs, vertical backward integration across the supply chain is one of the main strategic initiatives undertaken by the market players to ensure quality standards.

The cataract surgery segment held the largest market share in 2020 and is expected to expand at a healthy CAGR over the forecast period. Decreased intraoperative surgical complications and technological advancements that help deliver successful surgical outcomes in complex cataract procedures are the factors contributing to the segment growth. For instance, in pediatric patients’ cataract procedure is difficult to perform because of higher elasticity of pediatric eye capsule as compared to adult eyes, this, adding complexities in capsulorhexis.

Glaucoma surgery is another lucrative segment and is expected to expand at a healthy CAGR over the forecast period. The ability of ophthalmic viscosurgical devices to prevent surgical complications such as hyphema and hypotony, coupled with benefits of stabilizing the anterior chamber is expected to drive the OVD adoption in glaucoma surgery. Cohesive OVD are used more compared to dispersive OVDs in glaucoma surgery.

North America held the largest market share in 2020 and is expected to register a health CAGR over the forecast period. The presence of major market players, improved access to ophthalmic care facilities, favorable Medicare policies, and rising geriatric population are some of the key factors attributed to the regional growth.

Key Players

Bausch & Lomb Incorporated; Carl Zeiss Meditec AG; Johnson & Johnson Services, Inc.; Alcon AG; Rayner Intraocular Lenses Limited; Bohus Biotech AB; Beaver-Visitec International, Inc.; and Amring pharmaceutical Inc. These

Market Segmentation

  • Type Outlook 

    • Dispersive

    • Cohesive

    • Viscoadaptive

  •  Source Outlook 

    • Animal

    • Biological

    • Semi-synthetic

  • Application Outlook 

    • Cataract Surgery

    • Glaucoma Surgery

    • Corneal Grafting

    • Vitreoretinal Surgery

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

      • South Korea

    • Latin America

      • Brazil

      • Mexico

      • Argentina

      • Colombia

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

      • UAE

The Ophthalmic Viscosurgical Devices market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Ophthalmic Viscosurgical Devices market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Ophthalmic Viscosurgical Devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ophthalmic Viscosurgical Devices market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ophthalmic Viscosurgical Devices market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Ophthalmic Viscosurgical Devices capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Ophthalmic Viscosurgical Devices by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ophthalmic Viscosurgical Devices market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ophthalmic Viscosurgical Devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ophthalmic Viscosurgical Devices market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Ophthalmic Viscosurgical Devices industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Ophthalmic Viscosurgical Devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ophthalmic Viscosurgical Devices market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ophthalmic Viscosurgical Devices market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ophthalmic Viscosurgical Devices market. These factors have benefited the growth of the global market for Ophthalmic Viscosurgical Devices. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ophthalmic Viscosurgical Devices. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Ophthalmic Viscosurgical Devices are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market

To strategically profile the key players and comprehensively analyze their growth strategies.

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