The ophthalmic viscosurgical devices (OVD) market is poised for significant growth over the next several years, driven by advancements in surgical techniques, an aging population, and increasing prevalence of eye disorders. OVDs are critical tools in ophthalmic surgeries, providing protection and maintaining space during procedures such as cataract and retinal surgeries.
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As of 2023, the global ophthalmic viscosurgical devices market was valued at approximately USD 514.2 million1. By 2024, the market size was estimated to be around USD 543.28 million7. The market is projected to grow at a compound annual growth rate (CAGR) of about 4.06% from 2024 to 2032, reaching approximately USD 727.9 million by 2032. However, other forecasts suggest a slightly higher CAGR, such as 4.03% from 2024 to 20347, indicating variability in growth projections depending on the forecast period.
North America: This region is expected to dominate the market due to its advanced healthcare infrastructure, favorable insurance policies, and the presence of major industry players. The U.S. market alone is projected to grow significantly, driven by the high prevalence of age-related eye diseases and supportive healthcare policies.
Asia-Pacific: This region is anticipated to be the fastest-growing market for OVDs. Factors contributing to this growth include increasing healthcare investments, expanding healthcare infrastructure, and a rising prevalence of ocular diseases.
Major companies operating in the ophthalmic viscosurgical devices market include Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Rayner Intraocular Lenses Limited, Alcon AG, and Johnson & Johnson2. These companies are focusing on strategic initiatives, mergers, and acquisitions to expand their product portfolios and strengthen market positions.
By Product: The market is segmented into dispersive, cohesive, and combined OVDs. Dispersive OVDs are widely used due to their ability to protect endothelial cells and facilitate procedures like phacoemulsification
By End-Use: Hospitals are the primary end-users, benefiting from easy access to skilled surgeons and advanced technologies.
By Application: Cataract surgery is a significant application area, driven by the increasing prevalence of cataracts and advancements in surgical techniques.
Drivers:
Increasing Prevalence of Eye Disorders: The growing incidence of cataracts, glaucoma, and retinal diseases, particularly among the aging population, is driving demand for OVDs.
Advancements in Surgical Techniques: The adoption of advanced surgical procedures, such as femtosecond laser cataract surgery, enhances the need for specialized OVDs
Restraints:
Surgical Risks: Complications associated with eye surgeries, such as bleeding and infection, can pose challenges to market growth.
Lack of Training: Insufficient training among surgeons may increase risk factors, affecting market expansion