Growing occurrence of cataract in the aging population along with high life expectancy will promote ophthalmic viscosurgical devices market development. Aging population, more prone to ocular as well as ophthalmic conditions, is expected to boost the industry trends. According to Global Market Insights, Inc., “Ophthalmic Viscosurgical Devices Market size is estimated to reach USD 790 million by 2024.” High incidence of diabetes and rising awareness about regular eye check-ups will favor the market growth. As per international diabetes federation reports, over 550 million population is predicted to suffer from diabetes by 2030.
Dispersive, Combined, and Cohesive are some of the major products of ophthalmic viscosurgical devices industry. Dispersive ophthalmic viscosurgical devices market revenue estimated at USD 130 million in 2015, is expected to grow at a rate of 12% over the coming timeframe. High demand for medium-viscosity dispersive ophthalmic viscosurgical devices for cataract surgeries, due to its beneficial rheological features, will drive the growth.
U.S. Ophthalmic Viscosurgical Devices Market Size, By Application, 2012-2024 (USD Million)
Cohesive ophthalmic viscosurgical devices market is expected to witness a significant growth over 2016-2024. It plays a vital role in retaining ophthalmic viscosurgical devices in the frontal chamber during phacoemulsification.
Global increase in the proportion of eye surgeries such as refractive surgery, cataract surgery, keratoplasty, vitreoretinal surgery, and canaloplasty will drive the ophthalmic viscosurgical devices industry growth over the next few years.
Cataract surgery, which accounted for over 49% of the global market share in 2015, is expected to witness a healthy growth over the coming seven years. High occurrence of cataract and rising proportion of cataract surgeries will drive the growth.
Rise in percentage of vitreoretinal surgical operations among the aging population along with introduction of low costs vitreoretinal surgical systems will boost ophthalmic viscosurgical devices industry growth.
Below are the regional highlights of Ophthalmic Viscosurgical Devices Market over 2016-2024
Product innovations & strategic alliances are few of the key growth strategies by the market players to increase the geographical presence and retain their market position. Key industry participants include Rayner, Bausch & Lomb, Abbott Medical Optics Inc., Maxigen Biotech Inc., Carl Zeiss Meditec, Alcon, Hyaltech Limited, CIMA Technology Inc., and Precision Lens.