Sarasota, FL -- (SBWIRE) -- 03/05/2019 -- Global Ophthalmic Viscosurgical Devices (OVD) Market: Overview
Ophthalmic Viscosurgical Devices (OVD) is viscoelastic solution used in eye surgery also referred to as viscoelastic agents. Their introduction has a profound influence on the evolution of extracapsular and phacoemulsification surgery, and their use has decreased the incidence of corneal edema as a complication of phacoemulsification surgery. They contain concentrations of sodium hyaluronte, hydroxypropyl methylcellulose, and chondroitin sulfate in varying proportions.
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Global Ophthalmic Viscosurgical Devices (OVD) Market: Growth Factors
Increasing prevalence of ophthalmic diseases coupled with rapidly growing diabetes burden across the globe is the key factor driving ophthalmic viscosurgical devices (OVD) market growth. Eye disorders such as myopia affecting a large chunk of population are projected to generate a massive demand for technologically advanced eye surgeries. This, in turn, will boost the growth of ophthalmic viscosurgical devices (OVD) market in the coming years. In addition, rising geriatric population base, technological breakthroughs in healthcare infrastructure, and massive investments in the healthcare activities will exponentiate the earnings of ophthalmic viscosurgical devices (OVD) market in the years ahead.
Technological advancements in ophthalmic surgeries will positively impact ophthalmic viscosurgical devices (OVD) market growth in coming years. Escalating patient preference towards non-invasive and advanced treatments such as laser-assisted vision correction surgeries such as LASIK will spur the market size in coming years. However, high costs coupled with risks associated with eye surgeries may thwart the industry growth to certain extent in developing and under developed countries. Post operational risks associated with ophthalmic surgeries including visual aberrations, development of chronic dry and red eyes, and over or under-correction of vision and infection may slow down ophthalmic viscosurgical devices (OVD) industry growth over the next few years.
Global Ophthalmic Viscosurgical Devices (OVD)Market: Segmentation
The global ophthalmic viscosurgical devices (OVD) market can be classified into Product, Application, and End-use. Based on the product, the market is classified into Dispersive, Cohesive, and Combined products. On the basis of application, the market is classified into Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, and Keratoplasty. Based on the end-use, the ophthalmic viscosurgical devices (OVD) market is sectored into Hospitals and Clinics.
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Global Ophthalmic Viscosurgical Devices (OVD)Market: Regional Analysis
Based on regions, the global ophthalmic viscosurgical devices (OVD) market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America ophthalmic viscosurgical devices (OVD) market is slated to dominate the overall market growth during the analysis period. High growth is attributed to rising incidence of ophthalmic diseases such as visual impairment and blindness, refractive errors and eye injuries in the region. According to American Academy of Ophthalmology's Eye Health Statistics, cataract affects around 24.4 million Americans aged 40 years and above whereas glaucoma affects over 2.7 million in 2015. Increasing prevalence of such diseases will spur North America ophthalmic viscosurgical devices (OVD) market size over the forecast timeframe.
Asia Pacific ophthalmic viscosurgical devices (OVD) market is estimated to record a lucrative growth over the forecast timeline due to rising prevalence of diabetes in the region. Growing prevalence of diabetic eye diseases including diabetic retinopathy, cataract, diabetic macular edema (DME), and others will render positive impact on the regional market growth.
LATAM, Europe, and MEA are the key markets with huge growth potential.
Global Ophthalmic Viscosurgical Devices (OVD)Market: Competitive Players
Some of key players in ophthalmic viscosurgical devices (OVD) market are Alcon, Amring Pharmaceuticals, Bausch & Lomb, Bohus Biotech, Carl Zeiss Meditec, CIMA Technology, Johnson & Johnson Surgical Vision, Maxigen Biotech, Precision Lens, Rayner Intraocular Lenses, and Sidapharm.
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Global Ophthalmic Viscosurgical Devices (OVD)Market: Regional Segment Analysis
North America
The U.S.
Europe
The UK
France
Germany
The Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa
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