Global Ophthalmic Viscoelastic Device - OVD
Market Report
2024
Ophthalmic Viscoelastic Device - OVD market size is USD 2615.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size is USD 2615.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.50% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 2615.2 Million |
Global Ophthalmic Viscoelastic Device - OVD Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.5% |
Europe Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 784.56 Million |
Asia Pacific Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 601.5 Million |
Asia Pacific Ophthalmic Viscoelastic Device - OVD Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 6.5% |
North America Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 1046.08 Million |
North America Ophthalmic Viscoelastic Device - OVD Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 2.7% |
South America Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 130.76 Million |
South America Ophthalmic Viscoelastic Device - OVD Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 3.9% |
Middle East and Africa Ophthalmic Viscoelastic Device - OVD Market Sales Revenue 2024 | $ 52.3 Million |
Middle East and Africa Ophthalmic Viscoelastic Device - OVD Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 4.2% |
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Key Qualitative Information Covered |
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Ophthalmic Viscoelastic Device - OVD Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Ophthalmic viscoelastic devices, also known as OVDs, are devices used during intraocular surgery, especially anterior segment surgery. These are the viscoelastic materials used to maintain space in the eye during surgery. OVDs are pre-packaged in a syringe and are applied using a small tube. Essential properties of OVDs are tied to their physicochemical and rheological properties. Different types of OVDs available in the market include higher viscosity cohesive OVD and lower viscosity dispersive OVD.
Factors such as the growing elderly population and subsequent rise in the prevalence of cataracts, glaucoma, and other eye diseases are expected to support the ophthalmic viscoelastic devices market growth. There is a high demand for surgeries being performed in hospitals. Rising patient awareness of the availability and benefits of eye surgeries along with reduced post-operational complications also aid the growth of the market.
In July 2019, Bausch Health Companies, Inc., a worldwide pioneer in the global eye health industry launched Ocuvite Eye Performance Vitamins in North America. The product is a dietary supplement designed to meet the changing needs of consumers while also assisting the company in expanding its current market portfolio.
(Source: https://ir.bauschhealth.com/news-releases/2019/07-09-2019-120103466)
One of the key drivers fueling the growth of the Ophthalmic Viscoelastic Device (OVD) market is the rising prevalence of ophthalmic disorders such as cataracts and glaucoma. With an aging population globally, the incidence of these disorders is expected to increase, driving the demand for OVDs. OVDs are essential in modern cataract surgery and are used to maintain intraocular pressure, protect the corneal endothelium, and facilitate intraocular lens implantation. As the number of cataract and glaucoma surgeries rises, the demand for OVDs is expected to grow significantly, boosting market growth.
Another major driver for the OVD market is the continuous advancements in ophthalmic surgery techniques and equipment. Technological innovations, such as the development of advanced OVDs with improved viscosity, elasticity, and optical clarity, have enhanced surgical outcomes and patient safety. Surgeons are increasingly opting for premium OVDs that offer better control and visibility during surgery. Moreover, the introduction of disposable OVDs has reduced the risk of infection and improved overall surgical efficiency. These technological advancements are expected to drive the adoption of OVDs in ophthalmic surgeries, thereby stimulating market growth.
One of the primary restraints affecting the Ophthalmic Viscoelastic Device (OVD) market is the high cost associated with these devices. OVDs are relatively expensive, especially the premium versions that offer advanced features and better surgical outcomes. The high cost of OVDs can be a significant financial burden for patients, particularly in developing regions where access to healthcare services and affordability are key concerns. This factor can limit the adoption of OVDs, especially among patients who cannot afford the high cost of these devices, thus impacting market growth.
The COVID-19 pandemic has had a significant impact on the Ophthalmic Viscoelastic Device (OVD) market. As elective surgeries, including many ophthalmic procedures, were postponed or canceled to prioritize urgent care and reduce the risk of viral transmission, the demand for OVDs declined sharply. This led to a temporary slowdown in the market as healthcare facilities focused on managing the pandemic. Additionally, disruptions in the global supply chain and restrictions on movement and trade further affected the availability of OVDs, leading to challenges in meeting the demand.
However, as healthcare systems adapted to the new normal and resumed elective surgeries with enhanced safety measures, the OVD market started recovering. The backlog of postponed procedures and the growing awareness about eye health have contributed to the resurgence in demand for OVDs.
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The competitive landscape of the Ophthalmic Viscoelastic Device (OVD) market is characterized by the presence of several established players as well as emerging companies. Key players in the market are focused on strategic initiatives such as product launches, partnerships, mergers, and acquisitions to strengthen their market position and expand their product portfolio.
In May 2020:The ophthalmic viscoelastic device (OVD) properties from Croma, an Austrian firm that specialises in the most cutting- edge manufacturing line of hyaluronic acid products in the world, have been acquired by BVI, the fastest expanding diversified company in ophthalmology.
In Jan. 2022: The U.S. Food and Drug Administration (FDA) has granted the 510(k) clearance for Glaukos Corporation's iPRIMETM Viscodelivery System, a sterile, single-use, minimally invasive device for the delivery of viscoelastic fluid during ophthalmic surgery.
Top Companies Market Share in Ophthalmic Viscoelastic Device - OVD Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue. North America's dominance in the Ophthalmic Viscoelastic Device (OVD) Market is attributed to several key factors. Firstly, the region has a well-established healthcare infrastructure and a high prevalence of eye-related disorders, leading to a significant demand for OVDs. Secondly, North America is home to several major ophthalmic device manufacturers and research institutions, contributing to a strong market presence and continuous innovation in the field. Additionally, favorable reimbursement policies and high healthcare spending in countries like the United States have further fueled the adoption of OVDs.
Asia Pacific is emerging as the fastest-growing region in the Ophthalmic Viscoelastic Device (OVD) Market due to several key factors. Firstly, the region's rapidly growing elderly population, coupled with increasing access to healthcare services and advancements in ophthalmic care, has led to a surge in demand for OVDs. Secondly, rising disposable incomes and improving healthcare infrastructure in countries like China, India, and Japan have contributed to the market's expansion. Additionally, the increasing prevalence of eye-related disorders and a growing number of ophthalmic surgeries in the region have boosted the adoption of OVDs.
The current report Scope analyzes Ophthalmic Viscoelastic Device - OVD Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size was estimated at USD 2615.2 Million out of which Europe market of more than 30% of the global revenue with a market size of USD 237462.66 million in 2024 and will grow at a compound annual growth rate (CAGR) of 29.0% from 2024 to 2031. In Europe, the Ophthalmic Viscoelastic Device (OVD) market is a mature yet evolving sector, driven by factors such as an aging population, increasing incidence of ophthalmic disorders, and advancements in surgical techniques. Segmentation analysis reveals a market divided by product type, including dispersive, cohesive, and combined OVDs. Dispersive OVDs are often used in complex surgical procedures, while cohesive OVDs are favored for their ease of use and predictable performance. In conclusion, the OVD market in Europe is characterized by a competitive landscape and technological advancements. To succeed in this market, manufacturers should focus on innovation, product development, and strategic partnerships to meet the diverse needs of ophthalmic surgeons and patients in the region.
According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size was estimated at USD 2615.2 Million out of which Asia Pacific is the fastest growing market of more than 23% of the global revenue with a market size of USD 601.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031. In Asia Pacific, the Ophthalmic Viscoelastic Device (OVD) market is experiencing rapid growth, driven by factors such as an increasing elderly population, rising prevalence of ophthalmic disorders, and advancements in healthcare infrastructure. Segmentation analysis reveals a market divided by product type, including dispersive, cohesive, and combined OVDs. Dispersive OVDs are often used in intricate surgical procedures, while cohesive OVDs are favored for their ease of use and consistent performance. In conclusion, the OVD market in Asia Pacific is characterized by rapid technological advancements and increasing adoption of minimally invasive surgical techniques.
According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size was estimated at USD 2615.2 Million out of which North America held the major market of more than 40% of the global revenue with a market size of USD 1046.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.7% from 2024 to 2031. Segmentation analysis reveals a market divided by product type, including dispersive, cohesive, and combined OVDs. Dispersive OVDs are commonly used in complex surgical procedures, while cohesive OVDs are preferred for their ease of use and predictable performance. In conclusion, the OVD market in North America is poised for growth, driven by factors such as technological advancements, increasing adoption of minimally invasive surgical techniques, and the growing demand for ophthalmic surgeries
According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size was estimated at USD 2615.2 Million out of which Latin America market of more than 5% of the global revenue with a market size of USD 130.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.9% from 2024 to 2031. In Latin America, the Ophthalmic Viscoelastic Device (OVD) market is a growing sector, driven by factors such as an aging population, increasing prevalence of ophthalmic disorders, and advancements in surgical techniques. Segmentation analysis reveals a market divided by product type, including dispersive, cohesive, and combined OVDs. Dispersive OVDs are often used in complex surgical procedures, while cohesive OVDs are favored for their ease of use and predictable performance. In conclusion, the OVD market in Latin America presents significant opportunities for growth, driven by factors such as increasing healthcare infrastructure, rising disposable incomes, and a growing awareness of ophthalmic health.
According to Cognitive Market Research, the global Ophthalmic Viscoelastic Device - OVD market size was estimated at USD 2615.2 Million out of which Middle East and Africa market of more than 2.00% of the global revenue with a market size of USD 52.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031. In the Middle East and Africa (MEA) region, the Ophthalmic Viscoelastic Device (OVD) market is a burgeoning sector, driven by factors such as an increasing elderly population, rising incidence of ophthalmic disorders, and advancements in healthcare infrastructure. Segmentation analysis reveals a market divided by product type, including dispersive, cohesive, and combined OVDs. Dispersive OVDs are often used in intricate surgical procedures, while cohesive OVDs are favored for their ease of use and consistent performance. In conclusion, the OVD market in the Middle East and Africa presents significant opportunities for growth, driven by factors such as increasing healthcare investments, rising patient awareness, and a growing number of ophthalmic surgeries.
Global Ophthalmic Viscoelastic Device - OVD Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Ophthalmic Viscoelastic Device - OVD Industry growth. Ophthalmic Viscoelastic Device - OVD market has been segmented with the help of its Product Type, Application Composition, and others. Ophthalmic Viscoelastic Device - OVD market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, cohesive ophthalmic viscoelastic devices (OVDs) are considered the dominant category. Cohesive OVDs have gained significant popularity among ophthalmic surgeons due to their cohesive properties, which allow for easy manipulation and maintenance of the anterior chamber during surgery. These devices provide excellent space maintenance and endothelial cell protection, making them ideal for complex cataract and intraocular lens (IOL) implantation procedures.
The fastest-growing category in the OVD market is the dispersive ophthalmic viscoelastic devices (OVDs). Dispersive OVDs are characterized by their high molecular weight and low cohesiveness, making them suitable for coating and protecting delicate ocular tissues during surgery. These OVDs offer excellent tissue protection and help in maintaining a stable anterior chamber, especially in challenging cases.
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According to Cognitive Market Research, cataract surgery stands out as the dominant application category. Cataract surgery is one of the most common ophthalmic procedures globally, and OVDs play a crucial role in these surgeries. OVDs are used to protect the corneal endothelium, maintain the anterior chamber, and facilitate the insertion of intraocular lenses (IOLs). The increasing prevalence of cataracts, coupled with the growing demand for minimally invasive surgical techniques, has significantly boosted the adoption of OVDs in cataract surgeries.
The fastest-growing application category in the OVD market is vitreoretinal surgery. Vitreoretinal surgery involves the treatment of various retinal disorders, such as retinal detachment, macular holes, and diabetic retinopathy. OVDs are used in vitreoretinal surgery to maintain the shape of the eye, stabilize the retina, and protect the delicate retinal tissues during surgical maneuvers.
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According to Cognitive Market Research, sodium hyaluronate emerges as the dominant composition. Sodium hyaluronate is a naturally occurring polysaccharide that is widely used in OVDs due to its excellent viscoelastic properties, biocompatibility, and ability to maintain intraocular pressure during surgery. Its molecular weight and concentration can be varied to tailor the viscosity and elasticity of the OVD, making it suitable for different surgical techniques and patient needs.
Hydroxypropyl methylcellulose (HPMC) is the fastest-growing composition category in the OVD market. HPMC is a semi-synthetic polymer derived from cellulose and is used in OVDs for its viscoelastic and mucoadhesive properties. HPMC-based OVDs are particularly favored for their ability to provide extended lubrication and protection to the cornea and other ocular tissue.
According to Cognitive Market Research, hospitals emerge as the dominant end-user category. Hospitals are the primary centers for ophthalmic surgeries, including cataract, glaucoma, and vitreoretinal surgeries, where OVDs are extensively used. The large patient pool, advanced surgical facilities, and the presence of skilled ophthalmic surgeons in hospitals contribute to their high demand for OVDs.
Ophthalmic clinics are the fastest-growing end-user category in the OVD market. Ophthalmic clinics, particularly specialized clinics focused on ophthalmic surgeries, have witnessed a surge in demand for OVDs due to several factors. These clinics often offer specialized services, personalized care, and advanced surgical techniques, attracting patients seeking high-quality eye care. Moreover, the rising prevalence of eye disorders, coupled with the increasing awareness about eye health, has led to a growing number of patients opting for ophthalmic surgeries at clinics.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Disclaimer:
Product Type | Dispersive Ophthalmic Viscoelastic Devices , Cohesive Ophthalmic Viscoelastic Devices, Viscoadaptive Ophthalmic Viscoelastic Devices |
Application | Cataract Surgery , Glaucoma Surgery , Vitreoretinal Surgery , Corneal Transplantation Surgery , Others |
Composition | Sodium Hyaluronate , Chondroitin Sulfate , Hydroxypropyl Methylcellulose |
End-User | Ophthalmic Clinics , Hospitals , Academic and Research Institutes |
List of Competitors | Carl Zeiss AG, Bausch & Lomb Inc, Johnson & Johnson Vision Care Inc, Alcon Inc, Rayner Intraocular Lenses Ltd. |
This chapter will help you gain GLOBAL Market Analysis of Ophthalmic Viscoelastic Device - OVD. Further deep in this chapter, you will be able to review Global Ophthalmic Viscoelastic Device - OVD Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Ophthalmic Viscoelastic Device - OVD Market Trends North America Ophthalmic Viscoelastic Device - OVD Technological Road Map North America Ophthalmic Viscoelastic Device - OVD Market Drivers North America Ophthalmic Viscoelastic Device - OVD Market Restraints North America Ophthalmic Viscoelastic Device - OVD Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Type Analysis 2019 -2031, will provide market size split by Product Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Type Analysis 2019 -2031
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Chapter 11 Market Split by Application Analysis 2019 -2031
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Chapter 12 Market Split by Composition Analysis 2019 -2031
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Chapter 13 Market Split by End-User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Ophthalmic Viscoelastic Device - OVD market
Chapter 14 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Dispersive Ophthalmic Viscoelastic Devices have a significant impact on Ophthalmic Viscoelastic Device - OVD market? |
What are the key factors affecting the Dispersive Ophthalmic Viscoelastic Devices and Cohesive Ophthalmic Viscoelastic Devices of Ophthalmic Viscoelastic Device - OVD Market? |
What is the CAGR/Growth Rate of Cataract Surgery during the forecast period? |
By type, which segment accounted for largest share of the global Ophthalmic Viscoelastic Device - OVD Market? |
Which region is expected to dominate the global Ophthalmic Viscoelastic Device - OVD Market within the forecast period? |
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