Ophthalmic Viscoelastic Devices (OVD) Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Ophthalmic Viscoelastic Devices (OVD) Market is segmented By Type (Dispersive ophthalmic viscoelastic devices (DOCD), Cohesive ophthalmic viscoelastic devices (COVD)) By Application (Vitreoretinal Surgery, Glaucoma Surgery, Cataract Surgery, Corneal Transplantation) By End-User (Hospitals, Ophthalmic Clinics, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Ophthalmic Viscoelastic Devices Market Size

The Global Ophthalmic Viscoelastic Devices (OVD) Market reached US$ 2.68 billion in 2023 and is expected to reach US$ 4.00 billion by 2031, growing at a CAGR of 5.3% during the forecast period 2024-2031.

Ophthalmic viscosurgical devices (OVDs) are a class of clear gel-like material used in eye surgery to maintain the volume and shape of the anterior chamber of the eye, and protect the intraocular tissues during the procedure. These are essential tools for the anterior segment surgeon. OVDs are used during surgery in order to maintain and preserve space, displace and stabilize tissue, and coat and protect tissue. 

OVDs have a thick consistency and be elastic. These properties make them valuable during eye surgery. There are different OVDs available for different ophthalmic surgeries. Ophthalmic viscosurgical devices also are a regular part of some special cataract surgery techniques, such as the soft shell technique and the ultimate soft shell technique. These products make surgery safer by protecting the corneal endothelium and other tissues of the eye.

Ophthalmic Viscoelastic Devices Market Summary

For more details on this report – Request for Sample

Ophthalmic Viscoelastic Devices Market Dynamics

Increase in the number of products and their launches 

The increase in the number of launches of products and their approvals are expected to drive the market growth. Increasing number of products for ophthalmic surgical procedures will enhance the demand for the products and thus drives the market growth.

For instance, in April 2023, Bausch + Lomb has launched the StableVisc cohesive ophthalmic viscosurgical device (OVD) and the TotalVisc Viscoelastic System in the US. These two new OVDs offer new options for eye surgeons to provide dual-action protection during cataract surgery.

Additionally, on April 7, 2021, Bausch + Lomb received the FDA approval for its ClearVisc dispersive ophthalmic viscosurgical device (OVD) for use in ophthalmic surgery. Thus, the above factors are expected to drive the market growth. 

Adverse effects associated with the OVDs 

The adverse reactions such as postoperative inflammatory reactions that include hypopyon and iritis have been reported with the use of ophthalmic viscoelastics, as well as incidents of corneal edema, corneal decompensation, and a transient rise in intraocular pressure due to OVDs are expected to hinder the market growth.

Ophthalmic Viscoelastic Devices Market Segment Analysis

The global ophthalmic viscoelastic devices market is segmented based on type, application, end-user and region.

Cohesive COVDs segment is expected to dominate the market growth

Cohesive OVDs segment is expected to hold the dominant position during the forecast period due to their advantages and applications over the other type. These are particularly useful when there is a need to deepen the anterior chamber such as in hyperopic eyes to make space for the phaco tip. In small-pupil cataract surgery, it can expand an inadequatelly dilated pupil and break synechiae if injected at the pupil-anterior capsule junction. 

It can also be used to stabilize the anterior capsule surface during capsulorrhexis reducing the probability of it "running out" peripherally. Moreover it may be used temporarily to hold back prolapsed iris tissue at the incision site or blood from the iris or the angle. Thus, the above factors are expected to drive the segment growth in the forecast period. 

Ophthalmic Viscoelastic Devices Market Geographical Share

North America is expected to hold a significant position in OVD market share

North America is dominating the ophthalmic viscoelastic devices and is expected to continue throughout the forecast period owing the increasing product launches, increased ophthalmic care and increasing geriatric population. 

For instance, according to the report by American Academy of Ophthalmology in 2021, it is estimated that cataracts affect more than 20.5 million Americans age 40 and older, and 6.1 million Americans have had cataract surgery.

Cataracts are more common once individuals get old. For instance, according to the National Eye Institute in 2023, it is estimated that more than half of all Americans age 80 or older either have cataracts or have had surgery to get rid of cataracts. Thus, the above factors are expected to hold the region in the dominant position.

COVID-19 Impact Analysis

COVID-19 has impacted the growth of the market. This is due to the reduced number of ophthalmic surgeries during the pandemic and the decreased count of individuals undergoing diagnosis. The impact of the pandemic on the supply chain has a huge impact on the overall market growth. Thus, COVID-19 has impacted the market growth negatively.

Ophthalmic Viscoelastic Devices Market Key Players

The major global players in the market include Johnson & Johnson, Alcon Inc., Carl Zeiss Meditec AG, Bohus BioTech AB, Bausch & Lomb, Inc., RUMEX International Co., Altacor, Advin Health Care, Rayner Group, and Eyekon Medical among others.

Why Purchase the Report?

• To visualize the global ophthalmic viscoelastic devices market segmentation based on type, application, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of ophthalmic viscoelastic devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global OVD market report would provide approximately 53 tables, 47 figures and 176 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies