Top Growth Trends in the Ophthalmic Viscoelastic Devices Market: Insights into Market Size and Opportunities for 2025-2034
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Major Market Drivers Are Expected to Boost the Growth Potential of the Ophthalmic Viscoelastic Devices Market?
The growing occurrence of cataracts and glaucoma is anticipated to drive the expansion of the ophthalmic viscoelastic devices market. A cataract is defined as eye clouding which leads to reduced vision, while glaucoma is a collective term for eye conditions that harm the optic nerve, largely due to excessive eye pressure. If ignored, it can lead to vision impairment and eventual blindness. An ophthalmic viscoelastic device (OVD) serves as a gel-like material applied in eye surgeries, covering procedures related to cataracts and select glaucoma procedures. For example, as per the BrightFocus Foundation in the US, a non-profit organisation, by October 2022, there were around 80 million individuals globally suffering from glaucoma, and this number is estimated to escalate to approximately 111 million by 2040. As a result, the escalating occurrences of cataracts and glaucoma are fueling the expansion of the ophthalmic viscoelastic devices market.
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#How Will the CAGR of the Ophthalmic Viscoelastic Devices Market Influence Its Overall Growth by 2034?
There has been a consistent expansion in the ophthalmic viscoelastic devices market size in the past few years. The market is set to rise from $2.65 billion in 2024 to $2.75 billion in 2025, reflecting a compound annual growth rate (CAGR) of 3.4%. The surge seen in the historic period can be ascribed to the escalation in cataract surgeries, the evolution of ophthalmic surgery methods, the ageing demographic, heightened occurrence of eye disorders, and an increase in patient knowledge and accessibility to eye care services.
The ophthalmic viscoelastic devices industry is on course to witness substantial expansion in the coming years, with expectations to reach a worth of “$3.35 billion by 2029 growing at a compound annual growth rate (CAGR) of 5.1%. The predicted rise can be credited to advancements in gadget design technology, the widening use of these devices in eye surgeries, a growing global demand for high-quality intraocular lenses, worldwide initiatives for eye health and vision maintenance, penetration of the market in developing economies, team efforts, and ophthalmology training programs. During the forecast period, the main trends to watch out for include tailor-made ophthalmic solutions, regulatory adherence and quality control, partnerships and collaborations, patient inclination towards high-end products, and continuous research and development.
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What Are the Key Market Innovations in theOphthalmic Viscoelastic Devices Market Over the Coming Years?
In the ophthalmic viscoelastic devices market, a major trend gaining ground is that of product innovations. To secure their market position, businesses in the market are leveraging new technologies. For example, Bausch + Lomb Corporation, an eye health firm based in the US, unveiled the StableVisc cohesive ophthalmic viscosurgical device (OVD) and the TotalVisc Viscoelastic System in April 2023. Designed to provide space in the eye’s anterior chamber, StableVisc, a cohesive OVD, assists surgeons in removing and replacing the clouded natural lens. Also included in the TotalVisc Viscoelastic System are StableVisc and ClearVisc, a dispersive OVD, which serve to safeguard ocular tissue during surgery. These products contain sodium hyaluronate and sorbitol, a distinct chemical composition that, compared to other OVDs tested in the lab, exhibits superior free radical scavenging characteristics. TotalVisc OVD provides both mechanical and chemical protection.
Who Are the Top Companies Driving Innovation and Growth in theOphthalmic Viscoelastic Devices Market?
Major companies operating in the ophthalmic viscoelastic devices market include Altacor Ltd., Bausch Health Companies Inc., Bohus Biotech Ab, Carl Zeiss Meditec Ag, Cima Technology Inc., Eyekon Medical Inc., Haohai Biological Technology Co. Ltd., Johnson & Johnson Pvt. Ltd., Novartis International AG, Rumex International Corporation, Rayner Intraocular Lenses Limited, Aurolab, Ophtechnics Unlimited, Truviz Ophthalmic, Beye LLC, Alcon Inc., Beaver Visitec Limited, Neu Micromed International Pvt. Ltd., Abbott Medical Optics, Maxigen Biotech Inc., Amring Pharmaceuticals Inc., OcuCo Ltd., Precision Lens Co. Ltd., Croma Pharma GmbH, Medicontur Medical Engineering Ltd., Rhein Medical Inc., MicroSurgical Technology, FCI Ophthalmics Inc., Hanita Lenses Ltd., HOYA Medical Singapore Pte. Ltd.
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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 Regions Are Emerging as Leaders in the Ophthalmic Viscoelastic Devices Market?
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
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