Optathalmic Viscosurgical Devices Market By Product Type (Dispersive, Cohesive, Combined), Based on End-User (Hospitals & Clinics, Ophthalmic Clinics, Others), By Application (Canaloplasty, Refractive Surgery, Keratoplasty,Others) By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Overview:

An Ophthalmic Viscosurgical Device (OVD), also known as a viscoelastic agent or viscoelastic solution, is used to make cataract surgical procedures more successful. During phaco surgery, these solutions are used to both create and maintain space in the anterior chamber of the eye. OVDs are also used during Intraocular Lens (IOL) implantation, to protect the corneal endothelium, and to line surgical instruments. OVDs are unique in that they possess both solid and fluid characteristics. The surgical applications of the different OVDs are mainly determined by their physical properties, which are a consequence of the length of their molecular chain and the interactions both within the chains and between the chains and the ocular tissue.

Detailed Segmentation:

The global ophthalmic viscosurgical devices market is segmented on the basis of - Product Type, End-User, and Region. A detailed segmental description is listed below:

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Based on Product Type

• Dispersive
• Cohesive
• Combined

Based On Application:

• Cataract Surgery
• Vitreoretinal Surgery
• Canaloplasty
• Refractive Surgery
• Keratoplasty
• Others

Based on End-User

• Hospitals & Clinics
• Ophthalmic Clinics
• Others

Market Dynamics:

Drivers for the Global Optathalmic Viscosurgical Devices Market

In cataract surgery, the steady adoption of ophthalmic viscosurgical devices can be attributed to an increasing number of specific patient groups as well as an increased awareness of various eye diseases. In addition, it is projected that this global market will index healthy economic growth in the future. These devices aid in the preservation of the anterior chamber space and prevent the loss of corneal endothelial cells during ocular surgical procedures. Therefore, this device contributes to the improvement of surgical procedures. In addition, a decrease in intraoperative surgical complications associated with the use of this device as well as various technological advances is resulting in better and more successful surgical results.

According to Eurostat, in 2017, around 5 million cataract surgeries were performed in Europe. With such a high number of surgeries performed, and due to several benefits associated with the use of this device, the further adoption of ophthalmic viscosurgical devices is expected to augment this industry’s revenue growth trajectory.

Restraints for the Global Optathalmic Viscosurgical Devices Market

With the onset of the COVID-19 pandemic, the market for ophthalmic visco-surgical devices, just like a majority of markets, has been negatively affected. Initially, the SARS-CoV-2 outbreak disrupted supply chains and resulted in imposed restrictions on trade and movement of goods, thereby affecting this market. For example, the US declared a national emergency and banned all elective diagnostic and surgical procedures in outpatient and hospital settings.

Competitive Landscape:

Key players in this market are –

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

These key industry players are now focusing on mergers, partnerships, acquisitions, product developments, and collaboration strategies, in order to sustain their respective competitive edges.

Key Developments:

In April 2021, Bausch & Lomb Incorporated received U.S. FDA approval for ClearVisc. ClearVisc is a dispersive ophthalmic viscosurgical device used in ophthalmic surgery. This strategic move will strengthen the company’s market position and expand its existing portfolio in the ophthalmic viscosurgical devices segment.

In October 2019, Carl Zeiss Meditec announced the acquisition of IanTECH Inc., a firm emphasized the manufacturing of products for micro-interventional cataract surgical procedures. This acquisition was intended to improve the company’s product portfolio of surgical ophthalmology solutions and further position the firm as a global provider in the field of ophthalmology.