Ophthalmic Viscosurgical Devices Market worth over $790mn by 2024
Published Date: February 3, 2017 Author: Global Market Insights, Inc.
Ophthalmic Viscosurgical Devices Market size is set to exceed USD 790 million by 2024; according to a new research report by Global Market Insights, Inc.
Demand is primarily generated by growing elderly population associated with high potential for ophthalmic surgeries. Longer life expectancy and growing shift towards an older average age has led to increased incidences of cataract driving the global ophthalmic viscosurgical devices market. OVDs are an integral part of the modern anterior segment surgery. The introduction of different multifocal IOL options that can fill gaps throughout the complete range of vision has strongly improved patient satisfaction and the quality of distance vision.
Most common eye diseases affecting the older age group include advanced age-linked macular degeneration, diabetic retinopathy, cataracts, glaucoma, and blindness or poor vision. Many older people develop macular degeneration as part of the body's natural aging process. Cataract surgery was the highest revenue generating application in 2015 due to high global prevalence. Increasing number of vitreoretinal surgeries among geriatric people will drive procedure demand. Development of a low-cost vitreoretinal surgical system designed for emerging regions will expand vitreoretinal surgery demand.
Dispersive OVDs market offers advantages of using the viscoelastic soft-shell technique for routine cases, especially for complex procedures, which could result in more than 12% CAGR by 2024. Cohesive ophthalmic viscosurgical devices market will seize close to 40% share by 2024, due to their tendency to stick together and move as a mass, which plays an important role in OVD retention in the anterior chamber during phacoemulsification. Some of the available viscous cohesive OVDs are Provisc, Healon, Amvisc and Amvisc Plus.
Europe ophthalmic viscosurgical devices market, especially across Germany, UK and France will experience notable growth; the region accounted for more than 30% of the 2015 global revenue. Demographic shift is set to lead to an increase in the overall sales of Intraocular Lens (IOLs). Age-related macular degeneration (AMD), glaucoma and diabetic retinopathy are the most common cause of blindness in Europe.
Browse key industry insights spread across 120 pages with 54 market data tables & 6 figures & charts from the report, “Ophthalmic Viscosurgical Devices Market Size By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Malaysia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
Increasing diabetic retinopathy cases and cataract surgical rates coupled with availability of new drugs and devices will boost the Latin America ophthalmic viscosurgical devices market size. The region is filled with immense potential for growth; with Vision 2020 advocacy, governments are considering cataract surgery as a priority, providing treatment free of cost. Argentina could be a profitable region with significantly high number of surgeries being conducted.
2015 U.S. ophthalmic viscosurgical devices market was valued over USD 125 million and is forecast to rise during the coming years with growing geriatric population base, increasing number of minimally invasive surgeries and favorable government policies.
Japan ophthalmic viscosurgical devices market share has witnessed highest gains in 2015 due to prevalence of diabetic retinopathy, high myopia, optic nerve and retinochoroidal degeneration. Cataract prevalence is one of the major cause of blindness in China which will drive the regional ophthalmic viscosurgical devices market over the forecast period. Pure sodium hyaluronate product is currently widely used in China.
Companies operating in ophthalmic viscosurgical devices market include Alcon, Abbott Medical Optics, Carl Zeiss Meditec, Bausch & Lomb, Rayner, CIMA Technology, Precision Lens, Hyaltech, Maxigen Biotech, etc. Medical device manufacturers that can introduce novel innovative equipment will have huge benefits in the developing regions.
Ophthalmic viscosurgical devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in tons & revenue in USD million from 2012 to 2024, for the following segments:
Ophthalmic Viscosurgical Devices Market By Product
Ophthalmic Viscosurgical Devices Market By Application
- Cataract Surgery
- Vitreoretinal Surgery
- Refractive Surgery
- Other applications
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia