Ophthalmic Viscosurgical Devices Market To Reach $639.5 Million By 2030

Ophthalmic Viscosurgical Devices Market Growth & Trends

The global ophthalmic viscosurgical devices market size is anticipated to reach USD 639.5 million by 2030, registering a CAGR of 6.3% from 2024 to 2030, according to a new report published by Grand View Research, Inc. Steady rise in geriatric population coupled with high prevalence of ocular disorders is expected to drive the growth. Constantly developing ophthalmic care facilities are expected to contribute to the demand for Ophthalmic Viscosurgical Devices (OVDs) in near future.

Increasing prevalence of diabetes is expected to be a major factor boosting the market growth. Patients with both type 1 and type 2 diabetes are prone to develop cataract at some point in time. Currently, the surgical procedure is the only treatment option for cataract, thereby driving the demand for ophthalmic viscosurgical devices-an integral part of the cataract surgery. Furthermore, the global burden of cataract can be subjected to the increasing Cataract Surgical Rate (CSR) in countries, such as India, Japan, U.S., and several Western European countries.

Favorable government and non-government initiatives, such as ophthalmic screening programs, state and national eye care schemes, ophthalmic training, and education programs are expected to play a significant role in the ophthalmic viscosurgical devices market growth. For instance, the World Diabetes Foundation conducts training and development programs for ophthalmic HCP at primary care in regions of underdeveloped economies, improving the reach and awareness of cataract treatment procedures.

Developing advanced viscoelastics such as super-cohesive and viscoadpative OVD suitable for each stages of routine and complex ocular surgery is an emerging trend in the market. For instance, the viscoadpative OVDs have the combined benefit of cohesive and dispersive OVDs contained in a single syringe suitable for complex cataract surgery and ocular trauma cases.

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Ophthalmic Viscosurgical Devices Market Report Highlights

• Based on the type, as cohesive and dispersive OVDs are used concomitantly in ocular surgical procedures they together held significant share in the market. In addition, the viscoadaptive OVDs segment is expected to register a healthy CAGR over the forecast period, attributed to factors such as improved surgical outcomes on usage of viscoadpative OVD coupled with increasing number of complex ocular procedures.

• Based on application, the cataract surgery segment held the largest market share in 2023 and is expected to grow at a significant rate over the forecast period. Rising prevalence of diabetes, expanding geriatric population, favorable eye care policies are some of the factors expected to fuel the growth. Expanding OVDs application into ocular surgeries such as glaucoma and vitrectomy surgery are expected to witness growth, driving the market growth.

• North America held the largest ophthalmic viscosurgical devices market share in 2023. Asia pacific is expected to expand at a speediest CAGR over the forecast period due to the improving access to ophthalmic care facilities and presence of large patient pool.

• Viscoelastics derived from synthetic sources is expected to grow at a lucrative rate over the forecast period. This can be attributed to its low purification cost, high percentage of yield and easy extraction process compared to viscoelastic from animal source. The emerging trend is genetically engineering host bacteria to produce viscoelastic with low level of endotoxins thereby enhanced purity.

Ophthalmic Viscosurgical Devices Market Segmentation

Grand View Research has segmented the global ophthalmic viscosurgical devices market report based on type, source, application, and region:

Ophthalmic Viscosurgical Devices Type Outlook (Revenue, USD Million, 2018 - 2030)

• Dispersive

• Cohesive

• Viscoadaptive

Ophthalmic Viscosurgical Devices Source Outlook (Revenue, USD Million, 2018 - 2030)

• Animal

• Biological

• Semi-synthetic

Ophthalmic Viscosurgical Devices Application Outlook (Revenue, USD Million, 2018 - 2030)

• Cataract Surgery

• Glaucoma Surgery

• Corneal Grafting

• Vitreoretinal Grafting

Ophthalmic Viscosurgical Devices Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Mexico

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • South Korea

  • Thailand

  • Australia

• Latin America

  • Brazil

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Ophthalmic Viscosurgical Devices Market

• Bausch + Lomb

• Carl Zeiss Meditec AG

• Johnson & Johnson Services, Inc.

• Alcon

• Rayner Group

• Bohus BioTech AB

• BVI

• Nordic Pharma, Inc.

• Truviz Ophthalmic