Ophthalmology Viscosurgical Devices Market Projected To Grow With Significant CAGR Over The Forecast
Posted: May 14, 2018
Global Ophthalmology Viscosurgical Devices Market: Ophthalmology viscosurgical devices (OVDs) are used for cataracts surgeries with a minimal disturbance to the eye structure. These are solutions or agents which contain chemicals like methylcellulose, hydroxypropyl, sodium hyaluronate and chondroitin sulfate. Ophthalmic Visco Surgical Devices are also called as viscoelastic agents that is a vital tool for the anterior segment surgeon. To create and maintain space in anterior chamber of eye during phacoemulsification and insertion of intraocular lens these ophthalmology visco surgical devices are used. These are the transparent and gel substances with elastic and viscous properties.
Rise in cataract procedures is the major factor which is boosting the ophthalmic viscosurgical devices market growth. Rapid rise in the geriatric population which results in the rise of incidences and prevalence of various ocular disorders such as high myopia, diabetic retinopathy and cataract. Rise in awareness campaigns by NGO’s about the seriousness of ocular disorders is expected to be one of the factor in boosting the growth of the ophthalmology viscosurgical devices market. However, shortage in skilled ophthalmologists, limited availability of the screening equipment in undeveloped countries are some of the factors that may hamper the global market of ophthalmic visco surgical devices.
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The global ophthalmology viscosurgical devices market is classified as under-
1. Product type
- Cohesive OVD
- Dispersive OVD
- Cataract Surgery
- Vitreoretinal Surgery
- Refractive Surgery
- Other Applications
Hospitals, ambulatory surgical centers and eye specialty clinics.
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And lastly, on the basis of geographical regions, the ophthalmology viscosurgical devices market is divided into five regions-Latin America, North America, the Middle East and Africa, Europe and Asia-Pacific. North America dominates the ophthalmic viscosurgical devices market owing to the rise in incidences of the cataract surgeries. Europe and Asia-Pacific regions are also expected to have significant growth in the ophthalmology viscosurgical devices market due to the favorable reimbursement scenario in this region. In Asia-Pacific region, India and China are the major markets for ophthalmic viscosurgical devices due to the large patient pool. Some of the key market players in the global ophthalmology viscosurgical devices market are Carl Zeiss Meditec AG (Germany), Abbott Laboratories (U.S.), Novartis AG (Switzerland), Valeant (Canada), Hyaltech Ltd. (U.K.), CIMA Technology Inc. (U.S.), and Rayner (U.K.). In 2012, Abbott Laboratories expanded its Healon® family of ophthalmic viscosurgical devices (OVDs) with USFDA approval of Healon EndoCoat OVD, a device intended for use as a surgical aid in cataract extraction and intraocular lens (IOL) implantation.
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People with diabetes are affected with the complications such as blindness and diabetic retinopathy. As per the IDF estimation, in forthcoming years, the diabetic incidence have increased from 360 million dollars to 550 million dollars from 2011 to 2030. Adding to that, greater life expectancy and shifting towards old age people that lead to the increased incidence cases of cataract cases and it is anticipated to contribute the growth of ophthalmology viscosurgical devices market globally. As per the National Alliance for Eye and Vision Research & National Eye Institute, it is that estimated 0.2 million people are affected with Age-related macular degeneration in the U.S.
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