Global Ophthalmic Viscosurgical Devices (OVD) Market Grow At About 7.7% CAGR During 2020–2026 – ZMR

Global Ophthalmic Viscosurgical Devices (OVD) market accrued revenue worth nearly 299.05 (USD Million) in 2019 and record the CAGR of about 7.7% over the period from 2020 to 2026.

New York, United States - October 28, 2020 /MarketersMedia/

As per the researchers at Zion Market Research, the global ophthalmic viscosurgical devices (OVD) market was capitalized at about USD 299.05 million in 2019 and is anticipated to grow at CAGR of about 7.7% during 2020–2026. The prominent players in the global ophthalmic viscosurgical devices (OVD) market consist of Carl Zeiss Meditec AG; Bausch & Lomb Incorporated; Alcon AG; Johnson & Johnson Services, Inc.; Bohus Biotech AB; Rayner Intraocular Lenses Limited; Amring pharmaceutical Inc.; and Beaver-Visitec International, Inc. These contenders concentrate on growth approaches like mergers & acquisitions, portfolio expansion, retinal screening programs, and conference participation. To cite, in 2018, an ophthalmic surgical device producer, Beaver-Visitec International, purchased Belgium-located ophthalmic care manufacture, PhysIOL.

Increasing Elderly Population Likely To Surge The Demand For Ophthalmic Viscosurgical Devices

The growth of the global ophthalmic viscosurgical devices (OVD) market is primarily propelled by the increasing elderly population. Further, higher life expectancy and inclination to older average age have resulted in an elevated number of cataract cases and is projected to add to the expansion of the global ophthalmic viscosurgical devices (OVD) market. Moreover, the growing rate of age-associated related glaucoma and macular degeneration are also projected to fuel market growth. Nevertheless, the dearth of alertness among individuals regarding visual health, limited accessibility of screening equipment in the developing nations, and lack of skilled ophthalmologists are few factors expected to obstruct the expansion of global ophthalmic viscosurgical devices (OVD) market.

The global ophthalmic viscosurgical devices (OVD) market is bifurcated on the basis of end-user, material used, product type, and region. The ophthalmic viscosurgical devices (OVD) market, based on end-user, has been categorized into eye specialty clinics, ambulatory surgical centers, and hospitals. Based on material used, the market is classified into chondroitin sulfate, methyl cellulose, and sodium hyaluronate. Based on product type, the global ophthalmic viscosurgical devices (OVD) market is divided into dispersive, combined, and cohesive.

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Asia Pacific To Record Highest CAGR During The Forecast Period

In 2018, the biggest share in the global ophthalmic viscosurgical devices (OVD) market was held by North America and is projected to witness steady growth during the forecast period as well. The existence of key market players, approving Medicare policies, enhanced admission to ophthalmic care facilities, and increasing geriatric population are few reasons contributing to the growth of this region. North America was followed by Europe and is expected to show moderate growth owing to the rising alertness regarding advanced ophthalmic procedures through several conferences, trade shows, and programs. Asia Pacific is projected to grow at the greatest CAGR owing to the rising number of ophthalmic care facilities together with an increased incidence of diabetes, particularly in developing nations such as China and India.

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

By Product Type

Dispersive
Cohesive
Visco-adaptive
Combination

By Material Used

Sodium hyaluronate
Chondroitin sulfate
Methyl cellulose

By end-use

Hospitals
Ambulatory surgical centers
Eye specialty clinics

By Region

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 Middle East & Africa

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