May 15, 2020
According to the research report titled ‘Ophthalmic Viscosurgical Devices Market Size By Product, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global ophthalmic viscosurgical devices market is poised to acquire significant revenue by the year 2026.
Increasing number of cataract surgeries is a major factor driving the growth of the ophthalmic viscosurgical devices market. The product is a transparent and a gel-like substance that comprise of viscous and elastic properties. They are widely used to protect internal eye tissues during surgeries. Specific ophthalmic viscosurgical devices (OVD) are utilized among patients having intraoperative floppy iris syndrome or small pupils, since the product stabilizes and enlarges the size of the pupil.
OVDs include chondroitin sulfate, sodium hyaluronate and methylcellulose, with varying viscosities and molecular weights. Hydroxypropyl methylcellulose (HPMC) comprises of plant-based components and is used to improve the effectiveness of lubricants in eyes.
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As per product type, combined ophthalmic viscosurgical devices market segment is expected to register a 10% growth rate during 2020-2026. The product provides protection to the corneal endothelium and helps in flattening the anterior lens capsule. Combined OVDs operate as highly viscous dispersive agents since they have both high viscosity cohesive and low viscosity dispersive properties.
Worldwide ophthalmic viscosurgical devices market size from cataract application was worth USD 220 million in 2019 and is predicted to expand continuously during the study period. Increased pervasiveness of cataract and growing demand for advanced cataract treatments are fueling the segmental growth.
Citing the end-use landscape, clinics segment is projected to surpass USD 350 million by the year 2026. Shifting preferences towards minimally invasive Lasik treatment in order to treat cataract is fostering the demand for OVDs in clinics.
The key players in ophthalmic viscosurgical devices market are Sidapharm, Rayner Intraocular Lenses Ltd., Precision Lens, Maxigen Biotech Inc., Johnson & Johnson Surgical Vision Inc., CIMA Technology Inc., Carl Zeiss Meditec AG, Bohus Biotech AB, Bausch & Lomb Inc., Amring Pharmaceuticals and Alcon among others.