The global ophthalmic viscosurgical devices market size was estimated to be USD 419.7 million in 2023 and is expected to reach at USD 973.6 million by 2034 with a CAGR of 7.95% during the forecast period 2024-2034. Rise in the geriatric population, growing incidence of diabetes, increase in the number of cataract & glaucoma surgeries, ongoing technological advancements in ophthalmic surgical tools, escalating support from government bodies for improved healthcare systems, surge in research & development initiatives, and growing introduction of advanced ophthalmic viscosurgical devices are some of the factors driving the market growth.
Growing introduction of advanced ophthalmic viscosurgical devices is predicted to boost the market growth during the forecast period. Ophthalmic viscosurgical devices (OVDs) or viscoelastic agents play a crucial role as surgical aids in various ophthalmic procedures, such as glaucoma surgery, cataract surgery, and retinal surgery. Widely utilized in surgical contexts, OVDs serve to uphold and safeguard space, coating, protecting, displacing, and stabilizing tissues. They contribute to maintaining the anterior chamber during intraocular lens (IOL) insertion, safeguarding the corneal endothelium from turbulence, and preventing issues such as iris prolapse and tapping nuclear fragments. For instance, in April 2023, Eye health products company, Bausch & Lomb Incorporated, has introduced the StableVisc Cohesive Ophthalmic Viscosurgical Device and TotalVisc Viscoelastic System in the United States. This initiative aims to diversify the company's product portfolio and enhance its presence among regional customers.
By type, dispersive was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 as they provide several benefits, including enhanced endothelial protection, effective phacoemulsification, and the capability to coat ocular structures. Key market players are increasingly prioritizing the provision of combination packages involving dispersive OVDs, underscoring their emphasis on comprehensive offerings. For instance, in September 2022, Bausch + Lomb Corporation disclosed that seven scientific presentations, encompassing podium talks and posters, featured its products and pipeline. The presentations also included data from the Antibiotic Resistance Monitoring in Ocular Microorganisms (ARMOR) surveillance study, incorporating the ClearVisc dispersive ophthalmic viscosurgical device. Additionally, viscoadaptive is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of complex ocular surgical cases and the biphasic advantage of eliminating the necessity for two syringes, coupled with continuous technological advancements.
By source, biological was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the growing utilization of ophthalmic viscosurgical devices (OVDs) based on sodium hyaluronate in ophthalmic surgery is on the rise, primarily due to their advantageous properties, including high moisture retention, biocompatibility, & purity, growing strategic initiatives undertaken by key market players, and surge in regulatory approvals of biological based products. For instance, in December 2022, The FDA's 510(k) approval for Biotrue Hydration Boost Contact Lens Rehydrating drops has been made public by Bausch + Lomb Corporation. These preservative-free, multi-dose rehydrating drops are designed for use with both soft and rigid gas permeable contact lenses. Additionally, semi-synthetic is predicted to grow at the fastest CAGR during the forecast period growing focus on the development of new products and increasing research & development activities.
By application, cataract surgery was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the increasing incidence of cataracts, growing geriatric population, rising demand for advanced cataract surgery devices for treatment, surge in the number of cataract surgeries, and an escalation in product launches by key market players. For instance, in November 2023, Centricity Vision, Inc. unveiled the ZEPTOLink IOL Positioning System for commercial use at the annual meeting of the American Academy of Ophthalmology (AAO). Additionally, glaucoma surgery is predicted to grow at the fastest CAGR during the forecast period owing to the expanding elderly population, increased glaucoma prevalence, and growing use of surgical glaucoma therapies.
By end-user, hospital was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the ease of access to experienced surgeons, the availability of cutting-edge technology, the growing inclination of patients towards these healthcare facilities, and a rising number of hospital admissions related to eye problems. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period as the facility offers high-quality care & patient satisfaction, and growing trend of introducing advanced products. For instance, in March 2022, New World Medical has provided an update on its launch strategy for the STREAMLINE Surgical System. STREAMLINE, which incorporates the user-friendly ClickPulse Technology, is a single-use device and the first-line implant-free system intended for the precise creation of goniotomies in the trabecular meshwork.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in the aging population, enhanced accessibility to ophthalmic care facilities, a well-established healthcare infrastructure, increasing occurrences of diabetes & other chronic diseases, and the escalating approvals by regulatory authorities. For instance, in August 2022, The FDA granted the Glaukos Corporation 510(k) approval for the iStent infinite Trabecular Micro-Bypass System. This approval is for its use in a standalone procedure to alleviate elevated intraocular pressure (IOP) in patients with primary open-angle glaucoma that has not been effectively controlled through previous medical and surgical interventions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of ophthalmic diseases, increased healthcare expenditure, and a heightened emphasis on expansion by market players. For instance, in January 2022, Rayner, a prominent ophthalmology firm and the sole British producer of intraocular lenses (IOLs), revealed that it has established a direct sales presence in Australia, marking a part of its ongoing global commercial expansion.
Growing introduction of advanced ophthalmic viscosurgical devices is predicted to boost the market growth during the forecast period. Ophthalmic viscosurgical devices (OVDs) or viscoelastic agents play a crucial role as surgical aids in various ophthalmic procedures, such as glaucoma surgery, cataract surgery, and retinal surgery. Widely utilized in surgical contexts, OVDs serve to uphold and safeguard space, coating, protecting, displacing, and stabilizing tissues. They contribute to maintaining the anterior chamber during intraocular lens (IOL) insertion, safeguarding the corneal endothelium from turbulence, and preventing issues such as iris prolapse and tapping nuclear fragments. For instance, in April 2023, Eye health products company, Bausch & Lomb Incorporated, has introduced the StableVisc Cohesive Ophthalmic Viscosurgical Device and TotalVisc Viscoelastic System in the United States. This initiative aims to diversify the company's product portfolio and enhance its presence among regional customers.
By type, dispersive was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 as they provide several benefits, including enhanced endothelial protection, effective phacoemulsification, and the capability to coat ocular structures. Key market players are increasingly prioritizing the provision of combination packages involving dispersive OVDs, underscoring their emphasis on comprehensive offerings. For instance, in September 2022, Bausch + Lomb Corporation disclosed that seven scientific presentations, encompassing podium talks and posters, featured its products and pipeline. The presentations also included data from the Antibiotic Resistance Monitoring in Ocular Microorganisms (ARMOR) surveillance study, incorporating the ClearVisc dispersive ophthalmic viscosurgical device. Additionally, viscoadaptive is predicted to grow at the fastest CAGR during the forecast period owing to the rising prevalence of complex ocular surgical cases and the biphasic advantage of eliminating the necessity for two syringes, coupled with continuous technological advancements.
By source, biological was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the growing utilization of ophthalmic viscosurgical devices (OVDs) based on sodium hyaluronate in ophthalmic surgery is on the rise, primarily due to their advantageous properties, including high moisture retention, biocompatibility, & purity, growing strategic initiatives undertaken by key market players, and surge in regulatory approvals of biological based products. For instance, in December 2022, The FDA's 510(k) approval for Biotrue Hydration Boost Contact Lens Rehydrating drops has been made public by Bausch + Lomb Corporation. These preservative-free, multi-dose rehydrating drops are designed for use with both soft and rigid gas permeable contact lenses. Additionally, semi-synthetic is predicted to grow at the fastest CAGR during the forecast period growing focus on the development of new products and increasing research & development activities.
By application, cataract surgery was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the increasing incidence of cataracts, growing geriatric population, rising demand for advanced cataract surgery devices for treatment, surge in the number of cataract surgeries, and an escalation in product launches by key market players. For instance, in November 2023, Centricity Vision, Inc. unveiled the ZEPTOLink IOL Positioning System for commercial use at the annual meeting of the American Academy of Ophthalmology (AAO). Additionally, glaucoma surgery is predicted to grow at the fastest CAGR during the forecast period owing to the expanding elderly population, increased glaucoma prevalence, and growing use of surgical glaucoma therapies.
By end-user, hospital was the highest revenue-grossing segment in the global ophthalmic viscosurgical devices market in 2023 owing to the ease of access to experienced surgeons, the availability of cutting-edge technology, the growing inclination of patients towards these healthcare facilities, and a rising number of hospital admissions related to eye problems. Additionally, clinics is predicted to grow at the fastest CAGR during the forecast period as the facility offers high-quality care & patient satisfaction, and growing trend of introducing advanced products. For instance, in March 2022, New World Medical has provided an update on its launch strategy for the STREAMLINE Surgical System. STREAMLINE, which incorporates the user-friendly ClickPulse Technology, is a single-use device and the first-line implant-free system intended for the precise creation of goniotomies in the trabecular meshwork.
North America region is anticipated for the highest revenue share during the forecast period owing to the rise in the aging population, enhanced accessibility to ophthalmic care facilities, a well-established healthcare infrastructure, increasing occurrences of diabetes & other chronic diseases, and the escalating approvals by regulatory authorities. For instance, in August 2022, The FDA granted the Glaukos Corporation 510(k) approval for the iStent infinite Trabecular Micro-Bypass System. This approval is for its use in a standalone procedure to alleviate elevated intraocular pressure (IOP) in patients with primary open-angle glaucoma that has not been effectively controlled through previous medical and surgical interventions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of ophthalmic diseases, increased healthcare expenditure, and a heightened emphasis on expansion by market players. For instance, in January 2022, Rayner, a prominent ophthalmology firm and the sole British producer of intraocular lenses (IOLs), revealed that it has established a direct sales presence in Australia, marking a part of its ongoing global commercial expansion.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
Study Coverage
- Market Forecast by Type, Material, Product, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Ophthalmic Viscosurgical Devices Market Report 2023 - 2034
Ophthalmic Viscosurgical Devices Market Analysis & Forecast by Type 2023 - 2034 (Revenue USD Mn)
- Dispersive
- Cohesive
- Viscoadaptive
Ophthalmic Viscosurgical Devices Market Analysis & Forecast by Source 2023 - 2034 (Revenue USD Mn)
- Semi-synthetic
- Animal
- Biological
Ophthalmic Viscosurgical Devices Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Mn)
- Cataract Surgery
- Corneal Grafting
- Glaucoma Surgery
- Others
Ophthalmic Viscosurgical Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Mn)
- Hospitals
- Clinics
- Others
Ophthalmic Viscosurgical Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Mn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Ophthalmic Viscosurgical Devices Market: Type Estimates & Trend Analysis
8. Ophthalmic Viscosurgical Devices Market: Source Estimates & Trend Analysis
9. Ophthalmic Viscosurgical Devices Market: Application Estimates & Trend Analysis
10. Ophthalmic Viscosurgical Devices Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Ophthalmic Viscosurgical Devices Market
13. Europe Ophthalmic Viscosurgical Devices Market
14. Asia Pacific Ophthalmic Viscosurgical Devices Market
15. Latin America Ophthalmic Viscosurgical Devices Market
16. MEA Ophthalmic Viscosurgical Devices Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Rayner Intraocular Lenses Limited
- Bausch & Lomb Incorporated
- Alcon AG
- Johnson & Johnson Services Inc.
- Amring pharmaceutical Inc
- Bohus Biotech AB
- Carl Zeiss Meditec AG
- Beaver-Visitec International Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 419.7 Million |
| Forecasted Market Value ( USD | $ 973.6 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
