Ophthalmic Viscosurgical Devices Market Analysis

Ophthalmic Viscosurgical Devices Market Analysis

In terms of product, the market is segmented into dispersive, cohesive and combined. The dispersive segment in the ophthalmic viscosurgical devices market accounted for USD 242 million in 2022, attributed to multiple advantages offered by dispersive OVDs such as better endothelial protection, phacoemulsification, and ability to coat ocular structures. These dispersive OVDs are considered standard tools in eye surgeries that are widely used in different procedures comprising corneal transplant surgery, secondary intraocular lens implantation, and glaucoma filtration surgery. For instance, the U.S. witnesses 47,000 corneal transplants performed every year. The growing emphasis of key market players on offering combination packages of dispersive and cohesive ophthalmic viscosurgical devices will drive the segment growth.

Based on end-use, the ophthalmic viscosurgical devices market is segmented into hospitals, clinics, and others. The hospital segment reached USD 222 million in 2022, owing to the easy accessibility to skilled surgeons, high care and patient satisfaction. Availability of advanced technologies is increasing the preference for ophthalmic surgical procedures in hospitals, leading to increased patient preference for these healthcare facilities. The rising number of hospital admissions with eye issues will also drive the demand for ophthalmic procedures in healthcare settings.

With respect to application, the ophthalmic viscosurgical devices market is segmented into cataract surgery, canaloplasty, vitreoretinal surgery, refractive surgery, and keratoplasty. The cataract surgery segment in the OVD market registered revenue share of USD 249 million in 2022 propelled by the increase in cataract operations and rising public awareness. It has been estimated that around 4 million procedures were performed by around 10,000 U.S. cataract surgeons in 2021.   The growing prevalence of cataracts, rapidly aging population along with the surging demand for minimally invasive procedures will boost the market progression.

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Regionally, North America ophthalmic viscosurgical devices market size is estimated to reach USD 257 million by 2032, attributed to the strong presence of major industry players, favorable insurance policies, and better access to ophthalmic care facilities. The availability of paper consultation services and stringent protocols for patient safety is further fueling the market revenue in the country. For instance, the U.S. Department of Health and Human Services supports the National Eye Health Education Program and the National Eye Institute that focuses on vision loss and the funding of various activities to promote eye health.