Transparency Market Research Report Added "Ophthalmic Viscosurgical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025"
Albany, NY -- (SBWIRE) -- 08/08/2017 -- Ophthalmic viscosurgical devices (OVDs) are used in cataract surgery as a viscoelastic solution to create and maintain space in the anterior chamber of the eye. OVDs have generally been used during phacoemulsification, implantation of intraocular lens, to protect corneal endothelium, and as a coating to surgical instruments. OVDs are transparent, gel like viscous substances having elastic properties. OVDs have properties of both fluids and solids. The differentiating feature in OVDs can be because of viscosity, pseudoplasticity, viscoelasticity, and coatability.
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Rising geriatric population is a major factor driving the global ophthalmic viscosurgical devices market. The global geriatric population has increased from 9.2% in 1990 to 11.7% in 2013 and is expected to increase to 21% in 2050. Moreover, rising diabetic population and growing awareness regarding complications associated with diabetes are likely to fuel the growth of the global ophthalmic viscosurgical devices market. Diabetic people are affected with complications such as diabetic retinopathy and blindness. According to IDF, global prevalence of diabetes is projected to increase from 360 million in 2011 to 550 million by 2030. This is anticipated to propel the ophthalmic viscosurgical devices market. Additionally, high life expectancy and shift toward older average age has led to increased incidence of cataract cases and is expected to contribute to the growth of the global ophthalmic viscosurgical devices market. Along with cataract, increasing incidence of age-related macular degeneration (AMD) and glaucoma are factors driving the market. According to the National Alliance for Eye and Vision Research & National Eye Institute, an estimated 0.2 million individuals are affected with AMD in the U.S. and the number of affected individuals is expected to double during the forecast period. However, lack of awareness among people about visual health, shortage of skilled ophthalmologists, and limited availability of screening equipment in the undeveloped countries are factors likely to hamper the growth of global ophthalmic viscosurgical devices market.
The global ophthalmic viscosurgical devices market has been segmented based on product type, material used, end-user, and region. In terms of product type, the market has been segmented into cohesive OVD, dispersive OVD, and combined OVD. Cohesive OVDs are long chain, high weight, and high viscosity substance. Dispersive OVDs are short chain, low molecular weight, and have low viscosity. In terms of material used, the ophthalmic viscosurgical devices market has been segmented into sodium hyaluronate, chondroitin sulfate, and methyl cellulose. Based on end-user, the ophthalmic viscosurgical devices market has been segmented into hospitals, ambulatory surgical centers, and eye specialty clinics.
In terms of region, the global ophthalmic viscosurgical devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global ophthalmic viscosurgical devices market due to increased awareness and availability of wider treatment options in the region. The U.S. held the largest market share in North America in terms of revenue, followed by Canada. Europe is the second largest market in terms of revenue, with the U.K. and Germany accounting for major share of the market. Asia Pacific is a highly potential market, with emerging countries such as India and China. The market in the region is expected to expand at a high CAGR during the forecast period. Increasing awareness regarding treatment options and rising diabetic population with complications are likely to boost the growth of the market. Latin America and Middle East & Africa are expected to contribute to the growth of the market due to improving economy and rising awareness regarding the disorder.
Key players operating in the ophthalmic viscosurgical devices market are Abbott Medical Optics, Inc., Carl-Zeiss AG, Novartis International AG (Alcon Inc.), Johnson & Johnson Vision Care, Inc., F. Hoffmann-La Roche Ltd., Pfizer, Inc., Allergan, Inc., Hyaltech Ltd., Valeant Pharmaceuticals International, Inc. (Bausch + Lomb, Inc.), CIMA Technology, Inc., and Rayner, among others.
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