Ophthalmic Viscosurgical Devices Market by Product (Cohesive, Combined, Dispersive), Application (Cataract Surgery, Glaucoma Surgery, Keratoplasty), End User - Global Forecast 2024-2030

Ophthalmic Viscosurgical Devices Market by Product (Cohesive, Combined, Dispersive), Application (Cataract Surgery, Glaucoma Surgery, Keratoplasty), End User - Global Forecast 2024-2030

The Ophthalmic Viscosurgical Devices Market size was estimated at USD 648.33 million in 2023 and expected to reach USD 702.86 million in 2024, at a CAGR 8.81% to reach USD 1,171.29 million by 2030.

Ophthalmic viscosurgical devices (OVDs) are sterile, viscoelastic devices that are used in eye surgery, primarily during cataract extraction and intraocular lens implantation, as well as in corneal transplantation surgery, glaucoma filtration, and retinal attachment procedures. These devices have unique viscoelastic properties that enable them to maintain eye tissue separation, stabilize ocular structures, protect endothelial cells, and create space within the eye during surgery. Meanwhile, the rising cases of ophthalmic and ocular diseases have propelled the demand for OVDs. However, the stringent government regulations associated with OVDs and the limited availability of invasive and non-invasive treatment options are significant challenges manufacturers face. Companies are frequently working towards adhering to government regulations and researching biocompatible materials or excretable to remain agile within the global space. Moreover, developing advanced OVDs with improved viscoelastic properties, lower toxicity, and enhanced ease of use during surgery presents potential opportunities for the companies. Additionally, expanding markets in emerging economies due to increasing healthcare infrastructure investments offer new avenues for growth.

Regional Insights

In the Americas, the United States and Canada witnessed significant growth in the OVD market for ophthalmic viscosurgical devices, with a highly developed healthcare system and widespread adoption of cataract and refractive surgeries. Patient preference for minimally invasive procedures drives innovations and usage of premium OVD products in this region. In addition, Latin American countries are progressively adopting modern ophthalmic surgical devices, influenced by gradual improvements in healthcare infrastructure. On the other hand, Europe has a well-established market for OVDs, with a strong emphasis on quality and regulatory compliance alongside robust healthcare systems. The European Union's demand for OVDs aligns with an aging population and high surgical standards, while the Middle Eastern market benefits from rising investments in healthcare facilities and a growing medical tourism industry. Moreover, the Asia Pacific region demonstrates a significant and growing demand for OVDs due to the increasing prevalence of ophthalmic conditions such as cataracts and glaucoma, especially in populous countries such as China and India. Advanced research and development facilities in Japan contribute to innovative OVD formulations, increasing the demand for OVDs.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Ophthalmic Viscosurgical Devices Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Rising Cases of the Ophthalmic and Ocular Disorders
    • Availability of Well-Equipped Healthcare Infrastructure and Increasing Number of Drugs Approvals
    • Market Restraints
      • Availability of Minimally Invasive and Non-Invasive Treatment Options
      • Market Opportunities
        • Introduction of New Types of Ophthalmic Viscosurgical Devices
        • Ongoing Clinical Consideration of Adhesive for Ophthalmic Viscosurgeries
        • Market Challenges
          • Limited Availability of Skilled Professionals for Ophthalmic Procedures
          • Market Segmentation Analysis
            • Product: Growing popularity of cohesive and dispersive OVDs due to their versatility and surgical safety
            • Application: Increasing uses of OVDs in cataract and keratoplasty surgeries offering clear visualizations while ensuring patient’s safety
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Ophthalmic Viscosurgical Devices Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Ophthalmic Viscosurgical Devices Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Coherus is Selling Off Its Ophthalmology Franchise to Sandoz
              
              Coherus BioSciences, Inc., a biopharmaceutical firm, announced a strategic transaction agreement with Sandoz Group regarding its ophthalmic portfolio, including the significant CIMERLI (ranibizumab-earn), a biosimilar to the widely recognized treatment LUCENTIS. This deal underscores Coherus's commitment to enhancing patient care through innovation, particularly in the ophthalmology space. The company, known for its robust pipeline and expertise in advancing novel immunotherapies, primarily for oncology, is poised to broaden its impact within the ophthalmology market through this agreement.
              
              Rayner Announces Acquisition of Sophi
              
              Rayner, acquiredThis AG is the Swiss originator and producer of cutting-edge Sophi phacoemulsification systems. This strategic move diversifies. Sophi, an acronym for Swiss Ophthalmology Innovation, epitomizes the epitome of surgical advancement with its mobility-focused design and user-centric features, including a triple pump fluidics system, high-precision Intraocular Pressure regulation, and innovative cable-free energy supply paired with wireless capabilities. Rayner's latest acquisition reflects its consistent dedication to revolutionizing eye care and enhancing ophthalmic surgery outcomes globally.
              
              Bausch + Lomb Launches New Ophthalmic Viscosurgical Devices in the United States
              
              Bausch + Lomb expanded its suite of ophthalmic solutions with the launch of StableVisc, a novel cohesive ophthalmic viscosurgical device (OVD), and the TotalVisc Viscoelastic System in the United States. These offerings are engineered to deliver exceptional dual-action protection throughout cataract surgery. The distinctive feature of the StableVisc OVD is its ability to consistently hold open the anterior chamber of the eye, thus facilitating the smooth removal and insertion of the intraocular lens.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Ophthalmic Viscosurgical Devices Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Ophthalmic Viscosurgical Devices Market, highlighting leading vendors and their innovative profiles. These include Advanced BioMatrix, Advin Health Care, ALBOMED GmbH, Alcon Inc., Amring Pharmaceuticals Inc., Bausch & Lomb Incorporated, Beaver-Visitec International, Inc., Bloomage Biotechnology Corporation Limited, Bohus BioTech AB, Carl Zeiss AG, CIMA Technology, Inc., Contipro a.s., Fidia Farmaceutici S.p.A., Henan Universe Intraocular Lens Research and Manufacture Co., Ltd., Ildong Hyaltech Co., Ltd., Johnson & Johnson Services, Inc., Kewpie Corporation, LG Chem Life Sciences, Lifecore Biomedical, Inc., Maxigen Biotech Inc., Ophtechnics Unlimited, Precision Lens, Rayner Group, SERVImed Industrial S.p.A., and Truviz Ophthalmic.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Ophthalmic Viscosurgical Devices Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Product
              • Cohesive
              • Combined
              • Dispersive
              • Application
                • Cataract Surgery
                • Glaucoma Surgery
                • Keratoplasty
                • End User
                  • Ambulatory Surgical Center
                  • Eye Specialty Clinics
                  • Hospitals
                  • Region
                    • Americas
                      • Argentina
                      • Brazil
                      • Canada
                      • Mexico
                      • United States
                        • California
                        • Florida
                        • Illinois
                        • New York
                        • Ohio
                        • Pennsylvania
                        • Texas
                        • Asia-Pacific
                          • Australia
                          • China
                          • India
                          • Indonesia
                          • Japan
                          • Malaysia
                          • Philippines
                          • Singapore
                          • South Korea
                          • Taiwan
                          • Thailand
                          • Vietnam
                          • Europe, Middle East & Africa
                            • Denmark
                            • Egypt
                            • Finland
                            • France
                            • Germany
                            • Israel
                            • Italy
                            • Netherlands
                            • Nigeria
                            • Norway
                            • Poland
                            • Qatar
                            • Russia
                            • Saudi Arabia
                            • South Africa
                            • Spain
                            • Sweden
                            • Switzerland
                            • Turkey
                            • United Arab Emirates
                            • United Kingdom
                            
                            
                            Please Note: PDF & Excel + Online Access - 1 Year