Ophthalmic Viscosurgical Devices (OVD) Market Demand, Size, Share & Forecast 2032

Ophthalmic Viscosurgical Devices (OVD) Market: Industry Perspective

The global ophthalmic viscosurgical devices (OVD) market size was worth around USD 514.2 million in 2023 and is predicted to grow to around USD 727.9 million by 2032 with a compound annual growth rate (CAGR) of roughly 4.06% between 2024 and 2032.

The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2018 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Million).

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Ophthalmic Viscosurgical Devices (OVD) Market: Introduction

Ophthalmic Viscosurgical Devices (OVDs) are used in cataract surgery to form and maintain space in the anterior chamber of the eye during implantation of an intraocular lens (IOL) and phacoemulsification, and also to protect the corneal endothelium and coat surgical instruments. Different types of ophthalmic viscoelastic devices that support surgical techniques include dispersive and cohesive OVDs. Most OVDs consist of sodium hyaluronate (NaHA) or hydroxypropyl methylcellulose (HPMC). OVDs maintain the anterior chamber during surgical maneuvers and it has application in ophthalmic surgery. OVDs will provide enhanced surgical outcomes for patients. Ophthalmic viscosurgical devices were the first device which is used to maintain space in the eye during implantation of intraocular lenses.

Ophthalmic viscosurgical Devices find myriad applications in cataract surgeries as viscoelastic solutions for developing and maintaining space in the eyelids' anterior chamber. Apart from this, Ophthalmic viscosurgical instruments find a slew of applications during phacoemulsification and execution of intraocular lenses for protecting corneal endothelium as well as coating surgical equipment.

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Furthermore, these products are transparent and gel-like viscous materials possessing elastic features. They have properties like solids and fluids. Ophthalmic viscosurgical Devices (OVDs) have gained popularity due to their ability to offer protection to corneal endothelium at the time of cataract surgery. New OVDs play a vital role in creating novel approaches to cataract surgeries. Breakthroughs in Ophthalmic viscosurgical instruments are key for carrying out regular as well as complex cataract surgeries.  

Moreover, the products permit good retention, defense, and removal at the time of phacoemulsification surgeries. Apart from this, Viscoadaptive materials were launched as a specific Material Used in Ophthalmic Viscosurgical equipment and differentiated through a high proportion of viscosity at a lower rate of flow with an inclination to fracture at higher rates of flow. Additionally, the soft shell procedure highlights the rheology of Viscoadaptive Ophthalmic Viscosurgical Devices for carrying out phacoemulsification surgeries, thereby exploring all key features of OVDs in view of offering protection to the tissues as well as maintaining space.

Ophthalmic Viscosurgical Devices (OVD) Market: Growth Dynamics

A prominent surge in the aging population prone to cataract problems is likely to embellish the expansion of the Ophthalmic Viscosurgical Devices (OVD) Market over the forecast timespan. Apart from this, an increase in the number of diabetics along with rising consciousness pertaining to complications arising due to diabetes is anticipated to accelerate the growth rate of the industry over the forthcoming years. Additionally, the rise in cases of age-related macular degeneration as well as glaucoma is the major market growth driver.

Furthermore, the use of OVDs in cataract surgical procedures for protecting ocular structures, cataloging inside the eye, pressurizing the internal eye chamber, and enabling safe & quick cataract surgery along with good eye vision recovery for the patients will boost the market trends. Citing an instance, Healon, the first commercially available Ophthalmic Viscosurgical Device brought a revolution in the cataract surgical procedure and paved the way for the development of new surgical products as well as innovative Ophthalmic Viscosurgical instruments.

Growing number of age-related cataract surgeries coupled with increasing geriatric population are the foremost factor which is expected to drive ophthalmic viscosurgical devices market growth over the forecast period. Diabetic people are more prone to acquire ocular disabilities such as diabetic retinopathy and blindness, which will positively impact the ophthalmic viscosurgical devices market size in the coming years. As per the National Eye Health Survey (NEHS), over 453,000 Australian people had vision impairment or blindness. Changing diet patterns and hectic, modern lifestyles are the major factors that will cause diabetes.

Based on product, the ophthalmic viscosurgical devices market is segmented into dispersive, cohesive and combined. Based on application, the market is segmented as cataract surgery, vitreoretinal surgery, refractive surgery, and keratoplasty. On the basis of end users, the market is categorized as hospitals and eye specialty clinics.

Ophthalmic Viscosurgical Devices (OVD) Market: Report Scope

North American Market To Accrue Major Revenue Gains By 2032

The regional market growth over the forecast timeline is credited to growing awareness about cataract surgeries in countries like the U.S. and Canada. Apart from this, easy access to myriad eye treatment alternatives in the region will further amplify the business sphere in the sub-continent.

North America held a major revenue share of the global ophthalmic viscosurgical devices market in 2023 and the region is anticipated to continue with its regional supremacy over the forecast period. The growth of this regional market is attributed to the growing geriatric population base, favorable government policies, and a growing number of minimally invasive surgeries in the region is expected to drive industry growth over the forecast period. Asia-Pacific is expected to grow at a significant CAGR. The growth is attributed to rising incidence rates of diabetic retinopathy and a growing number of cataract surgeries.

Ophthalmic Viscosurgical Devices (OVD) Market: Competitive Analysis

The global ophthalmic viscosurgical devices (OVD) market is dominated by players like:

• Amring pharmaceutical Inc.
• Johnson & Johnson Services, Inc.
• Rayner Intraocular Lenses Limited
• Carl Zeiss Meditec AG
• Bohus Biotech AB
• Bausch & Lomb Incorporated
• Alcon AG
• and Beaver-Visitec International, Inc.

The global ophthalmic viscosurgical devices (OVD) market is segmented as follows:

By Product Segment Analysis

• Dispersive
• Cohesive
• Visco-adaptive
• Combination

By Material Used Segment Analysis

• Sodium Hyaluronate
• Chondroitin sulfate
• Methylcellulose

By End-User Segment Analysis

• Hospitals
• Ambulatory surgical centers
• Eye specialty clinics

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa