Ophthalmic Viscosurgical Devices Market Size - By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), By End-use (Hospitals, Clinics) & Forecast, 2023 – 2032

Ophthalmic Viscosurgical Devices Market Size

Ophthalmic Viscosurgical Devices Market size was USD 500 million in 2022 and is set to observe 4% CAGR from 2023 to 2032 driven by the rising application of 3D display systems in ophthalmic surgery for optimum outcomes. The increasing technological advancements in ophthalmic surgical tools has fueled the demand for novel ophthalmic viscosurgical devices. As per the survey performed in Canada, around 2.5 million people are suffering from cataracts every year.

Ophthalmic viscosurgical devices (OVDs) or viscoelastic agents are used as surgical aids in different ophthalmic surgeries, including glaucoma surgery, cataract surgery, and retinal surgery, among others. OVDs are largely employed in surgical applications as they help maintain and preserve space as well as coat, protect, displace, and stabilize the tissues. These devices help in maintaining the anterior chamber during the IOL insertion, protecting the corneal endothelium from turbulence, and preventing iris prolapse and tapping nuclear fragments.

Despite the positive outlook for ophthalmic viscosurgical devices market, the increasing surgery risks may pose as major restraint for the market revenue. The lack of proper training and essential expertise amongst surgeons has led to rising risk factors allied to the eye surgeries. The possible issues in these surgeries include bleeding, inflammation inside the eye, retinal detachment, and infection. However, the growing support from government bodies for better healthcare systems is likely to aid the industry expansion.

COVID-19 Impact

The emergence of the COVID-19 pandemic led to an unprecedented health concern across the globe and negatively affected the ophthalmic viscosurgical devices market. The outbreak disrupted the supply chain and put restrictions on trade and movement of goods, thereby impacting the market revenue. For instance, the U.S. declared a national emergency and ban on all elective surgical and diagnostic procedures in outpatient and inpatient settings. As a result, the pandemic had a substantial negative impact on industry growth.

Ophthalmic Viscosurgical Devices Market Trends 

Rising prevalence of diabetes worldwide is a major factor propelling the industry growth. Diabetic eye disorders, such as diabetic macular edema and diabetic retinopathy can lead to poor vision and blindness. As per the National Eye Institute, diabetic retinopathy affects over 7.7 million Americans with diabetes. This has resulted in over 240 national diabetes associations in 168 countries for managing diabetic macular edema.

Ophthalmic Viscosurgical Devices Market Analysis

In terms of product, the market is segmented into dispersive, cohesive and combined. The dispersive segment in the ophthalmic viscosurgical devices market accounted for USD 242 million in 2022, attributed to multiple advantages offered by dispersive OVDs such as better endothelial protection, phacoemulsification, and ability to coat ocular structures. These dispersive OVDs are considered standard tools in eye surgeries that are widely used in different procedures comprising corneal transplant surgery, secondary intraocular lens implantation, and glaucoma filtration surgery. For instance, the U.S. witnesses 47,000 corneal transplants performed every year. The growing emphasis of key market players on offering combination packages of dispersive and cohesive ophthalmic viscosurgical devices will drive the segment growth.

Based on end-use, the ophthalmic viscosurgical devices market is segmented into hospitals, clinics, and others. The hospital segment reached USD 222 million in 2022, owing to the easy accessibility to skilled surgeons, high care and patient satisfaction. Availability of advanced technologies is increasing the preference for ophthalmic surgical procedures in hospitals, leading to increased patient preference for these healthcare facilities. The rising number of hospital admissions with eye issues will also drive the demand for ophthalmic procedures in healthcare settings.

With respect to application, the ophthalmic viscosurgical devices market is segmented into cataract surgery, canaloplasty, vitreoretinal surgery, refractive surgery, and keratoplasty. The cataract surgery segment in the OVD market registered revenue share of USD 249 million in 2022 propelled by the increase in cataract operations and rising public awareness. It has been estimated that around 4 million procedures were performed by around 10,000 U.S. cataract surgeons in 2021.   The growing prevalence of cataracts, rapidly aging population along with the surging demand for minimally invasive procedures will boost the market progression.

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Regionally, North America ophthalmic viscosurgical devices market size is estimated to reach USD 257 million by 2032, attributed to the strong presence of major industry players, favorable insurance policies, and better access to ophthalmic care facilities. The availability of paper consultation services and stringent protocols for patient safety is further fueling the market revenue in the country. For instance, the U.S. Department of Health and Human Services supports the National Eye Health Education Program and the National Eye Institute that focuses on vision loss and the funding of various activities to promote eye health.

Major Ophthalmic Viscosurgical Devices Market Share

Some of the key players profiled in the ophthalmic viscosurgical devices market include:

• Alcon
• Amring Pharmaceuticals
• Bohus Biotech AB
• Bausch & Lomb Incorporated
• Precision Lens
• Carl Zeiss Meditec AG
• Johnson & Johnson Surgical Vision, Inc.
• CIMA Technology Inc.
• Maxigen Biotech Inc.
• Rayner Intraocular Lenses Ltd.

among others. These companies are engaging in strategic initiatives, mergers, and acquisitions to expand their business and launch new products to strengthen their procedure portfolio.

Ophthalmic Viscosurgical Devices Industry News

• In April 2022, Bausch & Lomb Incorporated, an eye health products company, announced the launch of StableVisc™ Cohesive Ophthalmic Viscosurgical Device and TotalVisc™ Viscoelastic System in the U.S. Through this move, the company intended to expand its product offering and strengthen its regional customer base.
   

Ophthalmic Viscosurgical Devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD (million) from 2018 to 2032 for the following segments:

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By Product, 2018 - 2032 (USD Million)

• Dispersive
• Cohesive
• Combined 

By Application, 2018 - 2032 (USD Million)

• Cataract surgery
• Vitreoretinal surgery
• Canaloplasty
• Refractive surgery
• Keratoplasty
• Others

By End-use, 2018 - 2032 (USD Million)

• Hospitals
• Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Sweden
  • The Netherlands
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Indonesia
  • Philippines
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Turkey
  • Iran