The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Ophthalmic Viscoelastic Devices Global Market Report 2023, the ophthalmic viscoelastic devices market is expected to show significant growth in the forecast period.

The global ophthalmic viscoelastic devices market is on a trajectory of expansion, with a projected growth from $2.50 billion in 2022 to $2.61 billion in 2023, marking a notable Compound Annual Growth Rate (CAGR) of 4.7%. This momentum is expected to persist, reaching $3.05 billion in 2027 at a CAGR of 4.0%.

• Sustainable Growth: The consistent CAGR highlights the pivotal role of ophthalmic viscoelastic devices in eye surgeries.

Illuminating the Path: Surge in Cataracts and Glaucoma
The anticipated growth of the ophthalmic viscoelastic devices market is underpinned by the increasing prevalence of cataracts and glaucoma. Cataracts, characterized by clouding in the eyes leading to decreased vision, and glaucoma, a group of eye conditions damaging the optic nerve, are driving the demand for ophthalmic viscoelastic devices. These gel-like substances play a crucial role in various eye surgeries, including cataract surgery and specific glaucoma procedures.

• Global Impact: According to the National Library of Medicine, 4.13 million adults over 50 had moderate to severe vision impairment in 2020. Glaucoma-related blindness affected 3.6 million individuals in the same age group. For those aged 50 and over, glaucoma was the primary cause of 11% of all cases of blindness globally in 2020.
• Projected Rise: The BrightFocus Foundation estimates that by 2040, the global count of glaucoma sufferers is expected to rise from 80 million to nearly 111 million.

Industry Stalwarts: Leading Players in the Market
Major players are spearheading the ophthalmic viscoelastic devices market, contributing significantly to its growth and development. Key contributors include Altacor, Bausch Health Companies Inc., Carl Zeiss Meditec Ag, and Johnson & Johnson Pvt. Ltd.

• Market Pioneers: Other influential players encompass Novartis International AG, Rumex International Corporation, Rayner Intraocular Lenses Limited, Aurolab, Ophtechnics Unlimited, Truviz Ophthalmic, and Beye LLC.

Innovations Shaping the Future: Technological Advances
Product innovations are emerging as a pivotal trend in the ophthalmic viscoelastic devices market, with companies adopting new technologies to enhance their market position. For example, Bausch + Lomb Corporation launched StableVisc, a cohesive ophthalmic viscosurgical device (OVD), and the TotalVisc Viscoelastic System in April 2023.

• Enhanced Solutions: StableVisc helps maintain space in the anterior chamber of the eye during surgeries, enabling the extraction and replacement of clouded natural lenses. The TotalVisc Viscoelastic System provides comprehensive protection to ocular tissue during surgical procedures, incorporating both cohesive and dispersive OVDs.
• Unique Chemical Compound: These products contain sodium hyaluronate and sorbitol, offering improved free radical scavenging properties compared to other OVDs.

Market Segmentation: Understanding Diversity
The ophthalmic viscoelastic devices market boasts a diverse segmentation, offering insights into the multifaceted nature of the industry.

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

Regional Dynamics: North America Leads, Asia-Pacific Surges
In 2022, North America asserted its dominance as the largest region in the ophthalmic viscoelastic devices market. However, the forecast suggests a shift, with Asia-Pacific emerging as the fastest-growing region.

• North America’s Position: The region’s advanced healthcare infrastructure positions it as a frontrunner in the global market.
• Asia-Pacific’s Acceleration: With a rising prevalence of chronic diseases and increased healthcare investments, Asia-Pacific is poised for significant growth in the ophthalmic viscoelastic devices market.

View More On The Ophthalmic Viscoelastic Devices Market Report 2023 – https://www.thebusinessresearchcompany.com/report/ophthalmic-viscoelastic-devices-global-market-report

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The Ophthalmic Viscoelastic Devices Global Market Report 2023  provides an in-depth analysis on the ophthalmic viscoelastic devices market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the ophthalmic viscoelastic devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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