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European Ophthalmic Viscoelastic Devices [OVD] Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2024-2032

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    Report

  • 98 Pages
  • April 2024
  • Region: Europe
  • Stratview Research
  • ID: 5968916
The European OVD Market was US$ 320 Million in 2023 and is likely to grow at a healthy CAGR of 4.6% in the long run to reach US$ 488 Million in 2032.

Recent Market JVs and Acquisitions

The market offers limited opportunities for expansion through acquisitions. Companies focus more on organic growth strategies. Only a couple of strategic alliances including M&As, JVs, etc. have been performed over the past few years:
  • In April 2024, Zeiss Group completed the acquisition of DORC (Dutch Ophthalmic Research Center). The acquisition will expand ZEISS Medical Technology’s ophthalmic product portfolio.
  • In February 2017, Johnson & Johnson finalized its acquisition of Abbott Medical Optics (AMO), a subsidiary of Abbott. The acquisition strengthened the former’s position in the eye care segment and extended its product offerings. The renowned Healon OVDs came under J&J with this acquisition.

Recent Product Development:

The medical devices and consumables industry is overseen by quite several national and international regulations and certification standards, so frequent new product launches are a little unlikely in the market.

Cohesive OVDs are poised to remain the dominant and faster-growing product in the market during the forecast period

The European OVD market is categorized into cohesive ophthalmic viscoelastic devices and dispersive viscoelastic devices.

Cohesive OVDs are poised to remain the dominant and fastest-growing product type in the market during the forecast period.

Cohesive OVDs exhibit higher viscosity and solid behavior, akin to jelly (Healon GV, Provisc, and Amvisc). Their cohesiveness permits easy removal at the end of the process.

Cataract surgery is projected to lead the application segment in the market during the forecast period

The market is segmented into cataract surgery, glaucoma surgery, corneal transplant surgery, and vitreoretinal surgery.

Cataract surgery is projected to lead the application segment in the market during the forecast period. Cataracts are the most common cause of blindness in Europe and worldwide, and their prevalence is continuously increasing.

Ophthalmic clinics are estimated to generate the highest demand for ophthalmic viscoelastic devices in the market during the forecast period

The market is segmented into hospitals, ophthalmic clinics, and others.

Ophthalmic clinics are estimated to generate the highest demand for ophthalmic viscoelastic devices in the market during the forecast period. Ophthalmic clinics experience higher foot traffic than hospitals and are a preferred choice for eye surgeries in Europe.

France is anticipated to remain the largest market for ophthalmic viscoelastic devices in Europe during the forecast period

In terms of countries, the market is segmented into Germany, France, The UK, Russia, Spain, and the Rest of Europe.

France is anticipated to remain the largest market for ophthalmic viscoelastic devices in Europe during the forecast period. France’s dominant position in the market is significantly boosted by its high rate of cataract surgeries (recorded 1,417 per 100,000 people, in 2021).

Germany is expected to be the fastest-growing market during the forecast period. Cataract surgery is the most frequently performed medical surgery in Germany, leading to the extensive use of OVDs in the country

Key Players

The market is highly concentrated with a handful of players accounting for more than 80% share in 2023. Key players hold distinct capabilities in manufacturing OVD using a multitude of materials. Players are increasing their R&D investments to cope with the high demand from the healthcare industry. The following are the key players in the European OVD market. Top companies have a proven track record, a large customer base, and a wide geographical presence.

Here is the list of the top players (based on dominance):

  • Alcon Inc.
  • Johnson & Johnson
  • Zeiss Group
  • Bausch + Lomb
  • VSY Biotechnology GmbH

Table of Contents

1. Executive Summary: A Bird’s Eye View of the Market
2. Market Environment Analysis: Study of Factors Affecting the Market Dynamics
2.1. Supply Chain Analysis (Identification of Key Players/Materials across the Value Chain)
2.2. PEST Analysis (List of All Factors Directly or Indirectly Affecting the Market Demand)
2.3. Industry Life Cycle Analysis (Current and Future Lifecycle Stage of the Market)
2.4. Key Trends (Key Industry as well as Market Trends Shaping the Market Dynamics)
2.5. Market Drivers (Study of Drivers and their Short- and Long-Term Impacts)
2.6. Market Challenges (Study of Factors Hindrance the Adoption/Growth)
3. European OVD Market Assessment (2018-2032) (US$ Million)
3.1. Contribution of European OVD in the Global OVD Market
3.2. European OVD Market Trend and Forecast (US$ Million)
3.3. Market Scenario Analysis: Growth Trajectories in Different Market Conditions
4. European OVD Market Segments’ Analysis (2018-2032) (US$ Million)
4.1. Product-Type Analysis
4.1.1. Cohesive: Country Trend and Forecast (US$ Million)
4.1.2. Dispersive: Country Trend and Forecast (US$ Million)
4.2. Application-Type Analysis
4.2.1. Cataract: Country Trend and Forecast (US$ Million)
4.2.2. Glaucoma: Country Trend and Forecast (US$ Million)
4.2.3. Corneal Transplant: Country Trend and Forecast (US$ Million)
4.2.4. Vitreoretinal Surgery: Country Trend and Forecast (US$ Million)
4.3. End-Use-Type Analysis
4.3.1. Hospitals: Country Trend and Forecast (US$ Million)
4.3.2. Ophthalmic Clinics: Country Trend and Forecast (US$ Million)
4.3.3. Others: Country Trend and Forecast (US$ Million)
4.4. Pricing Analysis
5. Competitive Analysis
5.1. Degree of Competition (Current Stage of Competition based on Market Consolidation)
5.2. Competitive Landscape (Benchmarking of Key Players in Crucial Parameters)
5.3. Market Share Analysis (Key Players and their Respective Shares)
5.4. Product Portfolio Mapping (Map their Presence in Different Market Categories)
5.5. Geographical Presence (Map their Geographical Presence)
5.6. M&As, JVs, Collaborations, Strategic Alliances, etc. (Map All the Major M&As and JVs)
5.7. Porter’s Five Forces Analysis (A Bird’s Eye View of the Overall Competitive Landscape)
6. Strategic Growth Opportunities
6.1. Market Attractiveness Analysis
6.1.1. Market Attractiveness by Product Type
6.1.2. Market Attractiveness by Application Type
6.1.3. Market Attractiveness by End-Use Type
6.1.4. Market Attractiveness by Country
6.2. Emerging Trends (Key Trends that May Shape the Market Dynamics in the Future)
6.3. Key Success Factors (KSFs) (Identifying Some Factors that May Help Companies to Gain Business)
7. Company Profiles of Key Players (Alphabetically Arranged)
7.1. Alcon Inc.
7.2. Bausch + Lomb Corporation
7.3. Bohus BioTech AB
7.4. EyeKon Medical, Inc.
7.5. Haohai Biological Technology Co. Ltd.
7.6. Johnson & Johnson
7.7. Rayner Group
7.8. RUMEX International Co.
7.9. VSY Biotechnology GmbH
7.10. ZEISS Group
8. Appendix
8.1. Market Numbers
8.2. Segment Definitions
8.3. Abbreviations
8.4. Currency Exchange
8.5. About Us
8.6. Copyright and Disclaimer

Companies Mentioned

  • Alcon Inc.
  • Bausch + Lomb Corporation
  • Bohus BioTech AB
  • EyeKon Medical, Inc.
  • Haohai Biological Technology Co. Ltd.
  • Johnson & Johnson
  • Rayner Group
  • RUMEX International Co.
  • VSY Biotechnology GmbH
  • ZEISS Group

Methodology

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