Next-Gen Ophthalmic Viscoelastic Devices : Market Forecast, Transformation, and Long-Term Trajectories
Discover trends, market shifts, and competitive outlooks for the ophthalmic viscoelastic devices industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research
What Are the Key Milestones in the Ophthalmic Viscoelastic Devices Market’s Growth Trajectory From 2025 To 2034?
In recent times, there has been a steady expansion in the market size of ophthalmic viscoelastic devices. The market value is expected to surge from $2.65 billion in 2024 and reach $2.75 billion by 2025, marking a Compound Annual Growth Rate (CAGR) of 3.4%. This growth during the historical period can be credited to various factors such as an upsurge in cataract surgeries, advancements in the methods of ophthalmic surgery, older population demographics, rising cases of eye disorders, and a heightened level of awareness and access to eye care amongst patients.
In the coming years, the market size of ophthalmic viscoelastic devices is forecasted to experience significant growth, ballooning to $3.35 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 5.1%. The forecasted growth can be credited to factors like technological enhancements in device designs, an increase in its usage in eye surgeries, escalating demand for premium intraocular lenses, global initiatives towards eye health and vision care, market expansion in emerging economies, partnerships, and ophthalmology training programs. The forecasted period will also witness key trends such as personalized ophthalmic solutions, adherence to regulations and quality assurance, collaborations and partnerships, a growing preference among patients for premium products and ongoing research and development.
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Which Major Market Drivers Are Expected to Boost the Growth Potential of the Ophthalmic Viscoelastic Devices Market?
An increase in cataracts and glaucoma cases is projected to stimulate the expansion of the ophthalmic viscoelastic devices market. When vision is impeded due to the clouding of the eyes, it is referred to as a cataract. Glaucoma, on the other hand, pertains to a group of ocular disorders that can injure the optic nerve due to a rise in intraocular pressure, potentially leading to loss of sight or even blindness if not addressed promptly. An ophthalmic viscoelastic device (OVD) is a gel-like material used in various eye surgeries, such as cataract operations and select glaucoma procedures. For example, in October 2022, the American nonprofit organization, BrightFocus Foundation, revealed that there were currently around 80 million individuals suffering from glaucoma worldwide. This number is expected to surge to approximately 111 million by 2040. As a result, the increasing incidence of cataracts and glaucoma is fuelling the expansion of the ophthalmic viscoelastic devices market.
Which Key Market Segments Comprise the Ophthalmic Viscoelastic Devices Market and Drive Its Revenue Growth?
The ophthalmic viscoelastic devices market covered in this report is segmented –
1) By Product Type: Cohesive Ophthalmic Viscoelastic, Dispersive Ophthalmic Viscoelastic
2) By Application: Cataract Surgery, Glaucoma Surgery, Corneal Transplant, Vitreoretinal Surgery
3) By End User: Hospital, Ophthalmology Clinics, Other End-Users
Subsegments:
1) By Cohesive Ophthalmic Viscoelastic: Sodium Hyaluronate, Hyaluronic Acid, Other Cohesive Types
2) By Dispersive Ophthalmic Viscoelastic: Sodium Chondroitin Sulfate, Dispersive Hydrogel, Other Dispersive Types
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Which Areas Are Leading Regions in the Ophthalmic Viscoelastic Devices Market Expansion Across the Globe?
North America was the largest region in the ophthalmic viscoelastic devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global ophthalmic viscoelastic devices market report during the forecast period. The regions covered in the ophthalmic viscoelastic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Are the Key Market Trends in theOphthalmic Viscoelastic Devices Market Over the Coming Years?
The emergence of product innovations is a significant trend observed in the ophthalmic viscoelastic devices market. Firms in this sector are embracing cutting-edge technologies to maintain their market status. For example, in April 2023, Bausch + Lomb Corporation, an American company devoted to eye health, introduced their new products, the StableVisc cohesive ophthalmic viscoelastic device (OVD) and the TotalVisc Viscoelastic System. StableVisc is a cohesive OVD that aids in preserving space in the eye’s anterior chamber, allowing surgeons to eliminate and replace the foggy natural lens. The TotalVisc Viscoelastic System, which incorporates both StableVisc and ClearVisc (a dispersive OVD), protects the eye tissue during surgery. These products, containing sodium hyaluronate and sorbitol – a distinctive chemical compound – have demonstrated superior free radical scavenging properties compared to other OVDs tested in labs. The TotalVisc OVD provides both mechanical and chemical protection simultaneously.
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How Is the Ophthalmic Viscoelastic Devices Market Conceptually Defined?
An ophthalmic viscoelastic device (OVD) is a gel-like substance that is used during certain types of eye surgery to create and maintain space within the eye, protect delicate intraocular structures, and facilitate surgical maneuvers. OVDs are typically clear, viscous, and elastic, and they are designed to mimic the properties of the natural fluids inside the eye.
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