The Global Ophthalmic Viscoelastic Devices Market, by Product Type (Dispersive Ophthalmic Viscoelastic Devices, and Cohesive Ophthalmic Viscoelastic Devices), by Application (Cataract Surgery, Glaucoma Surgery, Vitreoretinal Surgery, Corneal Transplantation Surgery, and Others), by Composition (Sodium Hyaluronate, Chondroitin Sulfate, and Hydroxypropyl Methylcellulose), by End User (Ophthalmic Clinics, Hospitals, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$ 810.9 million in 2018, and is projected to exhibit a CAGR of 9.4%, during the forecast period (2019-2027), as highlighted in a new report published by.
Increasing number of regulatory approvals for ophthalmic viscoelastic devices is expected to propel growth of the global ophthalmic viscoelastic devices market. For instance, in October 2015, Alcon, a division of Novartis focused on eye care, received U.S. Food and Drug Administration approval for its AcrySof IQ Aspheric IOL with the UltraSert Pre-loaded Delivery System for patients undergoing cataract surgery. Moreover, in June 2015, the company received the CE marking for its AcrySof IQ Aspheric IOL with the UltraSert Pre-loaded Delivery System.
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Browse 48 Market Data Tables and 32 Figures spread through 209 Pages and in-depth TOC on 'Ophthalmic Viscoelastic Devices Market, by Product Type (Dispersive Ophthalmic Viscoelastic Devices, and Cohesive Ophthalmic Viscoelastic Devices), by Application (Cataract Surgery, Glaucoma Surgery, Vitreoretinal Surgery, Corneal Transplantation Surgery, and Others), by Composition (Sodium Hyaluronate, Chondroitin Sulfate, and Hydroxypropyl Methylcellulose), by End User (Ophthalmic Clinics, Hospitals, and Academic and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027' To know the latest trends and insights related to Ophthalmic Viscoelastic Devices Market.
Increasing adoption of inorganic strategies such as acquisitions by key players operating in the-eye care industry is expected to drive growth of the ophthalmic viscoelastic devices market. For instance, in July 2017, Rayner Surgical Group acquired the ophthalmic cataract surgery business of Aptissen SA (Geneva, Switzerland). Under this agreement, Rayner acquired the ophthalmic viscoelastic device product portfolio including Ophteis, OphteisMax, OphteisBio, and Methylvisc. This has helped Rayner to expand its presence in the global market by offering these devices to customers all over the world. Moreover, product launches by major key players is expected to boost growth of the ophthalmic viscoelastic devices market in the near future. For instance, in July 2018, Amring Pharmaceuticals Inc. launched its Biolon OVD (Ophthalmic Viscosurgical Device) in the U.S. market. Biolon OVD is a fermentation-based, sterile, optically clear, 1% (10mg/mL), sodium hyaluronate viscoelastic solution in sterile prefilled syringes. These factors are expected to contribute to the significant growth of the ophthalmic viscoelastic devices market over the forecast period.
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Key Takeaways of the Global Ophthalmic Viscoelastic Devices Market:
The global ophthalmic viscoelastic devices market is expected to expand at a CAGR of 9.4% during the forecast period (2019–2027), owing to increasing initiatives by major players such as development of innovative ophthalmic viscoelastic devices for application in various ophthalmic surgeries. For instance, in February 2019, Sight Sciences, Inc. initiated a clinical trial study to evaluate safety and efficacy of the OMNI Surgical System for multiple micro-invasive glaucoma surgery (MIGS) procedures. The study is estimated to complete in December 2020.
Furthermore, increasing regulatory approvals of ophthalmic viscoelastic devices is contributing to market growth. For instance, in April 2018, Sight Sciences received U.S. FDA 510(k) clearance for its OMNI Surgical System. The devices is indicated for delivery of controlled volumes of viscoelastic fluid, as well as cutting of trabecular meshwork tissue.
Major players operating in the global ophthalmic viscoelastic devices market include Johnson & Johnson, Rumex International Co., Bausch & Lomb Incorporated., Ophtechnics Unlimited, Truviz Ophthalmic., Beye, LLC, Carl Zeiss Meditec AG, Precision Lens, Iso Clear (Pty) Ltd., and Neu Micromed International Pvt. Ltd.
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