Global Ophthalmic Viscosurgical Devices Market, By Type (Dispersive, Cohesive, Combined), Source (Animal, Biological, Semi-Synthetic), Application (Cataract Surgery, Vitreoretinal Surgery, Refractive Surgery, Keratoplasty), End Use (Hospitals, Diagnostic Centers, Eye Specialty Clinics, Others), Industry Trends and Forecast to 2029.
Market Analysis and Size
The ophthalmic viscosurgical devices market is analyzed to grow at a significant value within the forecasted period as there are emerging innovative approaches to improving vision wellness, which results in the higher demand for the market within the forecasted period. Although, the COVID-19 pandemic had a negative effect on the market but it is expected to pace towards the growth post COVID-19.
- Data Bridge Market Research analyses that the ophthalmic viscosurgical devices market is expected to grow at a CAGR of 8.85% during the forecast period. The “cataract surgery” accounts for the largest application segment in the ophthalmic viscosurgical devices market within the forecasted period.
Market Definition
Ophthalmic viscosurgical devices are used in a variety of ocular surgeries to protect the delicate ocular structure and maintain space in the anterior chamber, allowing for a faster and safer procedure. Sodium hyaluronate, chondroitin sulphate, and hydroxypropyl methylcellulose make up these devices. These ophthalmic viscosurgical devices are commonly used as surgical aids for cataract, glaucoma, and vitrectomy surgeries because they help maintain the anterior chamber during the surgical manoeuvre.
Ophthalmic Viscosurgical Devices Market Dynamics
Drivers
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Increasing Number Of Targeted Patient Pools
The increasing prevalence of diabetes, and an increasing number of cataract and glaucoma surgeries performed are expected to accelerate the overall growth of the market. The ophthalmic viscosurgical devices help in maintaining the anterior chamber during the surgical maneuver and are widely used as surgical aid for performing cataract, glaucoma, and vitrectomy surgeries.
The growing awareness about ocular diseases and growing number of eye health awareness programs are projected to cushion the growth of the market. Moreover, the increasing geriatric population coupled with the rising disposable income, and changing lifestyle also cushions the market’s growth within the forecasted period.
Opportunities
Furthermore, the various technological advancements, preference about minimally invasive or noninvasive, coupled with novel products extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Moreover, the improved quality of devices will further expand the ophthalmic viscosurgical devices market's growth rate in the future.
Restraints/Challenges
On the other hand, the availability of alternative procedures is expected to obstruct market growth. Also, the surgeon’s lack of proper training and essential expertise are projected to challenge the ophthalmic viscosurgical devices market in the forecast period of 2022-2029. Moreover, the risk factors related to eye surgeries may also have a negative impact on the overall growth of the market.
This ophthalmic viscosurgical devices market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ophthalmic viscosurgical devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Ophthalmic Viscosurgical Devices Market
The outbreak of COVID-19 has impacted the whole healthcare market. The ophthalmic viscosurgical devices market however has affected the market negatively owing to the disrupted the supply chain and imposed restrictions on trade and goods movement.
The government's various strict guidelines and regulations regarding social distancing and movement restrictions as the air, tools, and patient contact would all pose a high risk of infection in dentistry. Most of the people are unable to visit their local dentist for a check-up, and the mouth would act as a direct source of infection for doctors and other staff members. However, the COVID-19 pandemic has accelerated the adoption of the tooth products through retail pharmacies and online platforms across the globe. Moreover, the increased product demand and had a positive impact on the ophthalmic viscosurgical devices market.
Recent Developments
- In April 2021, ClearVisc by Bausch & Lomb Incorporated was given FDA approval in the United States. In ophthalmic surgery, ClearVisc is a dispersive ophthalmic viscosurgical device. In the ophthalmic viscosurgical devices segment, this strategic move will strengthen the company's market position and expand its portfolio.
Global Ophthalmic Viscosurgical Devices Market Scope
The ophthalmic viscosurgical devices market is segmented on the basis of type, source, application and end use. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Dispersive
- Cohesive
- Combined
On the basis of type, the ophthalmic viscosurgical devices market is segmented into dispersive, cohesive and combined.
Source
- Animal
- Biological
- Semi-Synthetic
On the basis of source, the ophthalmic viscosurgical devices market is segmented into animal, biological and semi-synthetic.
Application
- Cataract Surgery
- Vitreoretinal Surgery
- Refractive Surgery
- Keratoplasty
On the basis of application, the ophthalmic viscosurgical devices market is segmented into cataract surgery, vitreoretinal surgery, refractive surgery and keratoplasty. The cataract surgery dominates the application segment within the market.
End Use
- Hospitals
- Diagnostic Centers
- Eye Specialty Clinics
- Others
On the basis of level of end use, the ophthalmic viscosurgical devices market is segmented into hospitals, diagnostic centers, eye specialty clinics and others.
Ophthalmic Viscosurgical Devices Market Regional Analysis/Insights
The ophthalmic viscosurgical devices market is analyzed and market size insights and trends are provided by country, type, source, application and end use as referenced above.
The countries covered in the ophthalmic viscosurgical devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the ophthalmic viscosurgical devices market because of the high prevalence of geriatric population, improved access to ophthalmic care facilities and well-established healthcare infrastructure within the region. Asia-Pacific, on the other hand, is expected to witness significant growth during the forecast period of 2022 to 2029 due to the focus of various established market players to expand their presence owing to germinating diabetic population in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The ophthalmic viscosurgical devices market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for ophthalmic viscosurgical devices market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the ophthalmic viscosurgical devices market. The data is available for historic period 2010-2020.
Competitive Landscape and Ophthalmic Viscosurgical Devices Market Share Analysis
The ophthalmic viscosurgical devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ophthalmic viscosurgical devices market.
Some of the major players operating in the ophthalmic viscosurgical devices market are Bausch & Lomb Incorporated, Zeiss International, Johnson & Johnson Private Limited, Rayner Intraocular Lenses Limited, Bohus Biotech AB, NIDEK CO., LTD., Novartis AG, Ellex Medical Lasers Ltd., Ziemer Ophthalmic Systems, HOYA Corporation, Lumenis, STAAR SURGICAL, IRIDEX Corporation, TOPCON CORPORATION, Takagi Ophthalmic Instruments Europe LTD., ACB MOLTENO, Medical Technical Products, BVI, Amring pharmaceutical Inc., Truviz Ophthalmic, Alcon, Abbott, Precision Lens, and Medtronic among others.
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