Ophthalmic Viscosurgical Devices Market Size, Share & Trends Analysis Report By Type (Dispersive, Cohesive), By Source (Biological, Semisynthetic), By Application (Cataract Surgery, Vitreoretinal Surgery), And Segment Forecasts, 2019 - 2026

Industry Insights

The global ophthalmic viscosurgical devices (OVD) market was valued at USD 285.2 million in 2018 and is expected to expand at a CAGR of 7.9% over the forecast period. Rising geriatric population, the prevalence of diabetes, and age-related ocular disorders are the factors expected to contribute to the growth. According to the Population Reference Bureau, the number of Americans aged 65 years and above is expected to nearly double from 52 million in 2018 to 95 million by 2060. This factor is anticipated to contribute to the rising incidence of age-related ocular disorders, driving the demand for OVDs.

Ophthalmic Viscosurgical Devices (OVDs) are widely used as a surgical aid for performing ocular surgeries such as cataract, glaucoma, vitrectomy, and others. The basic functions of OVDs are anterior chamber space maintenance and prevention of corneal endothelial cell loss during ocular surgical maneuvers thereby helping in improving surgical outcomes. Most of the ocular conditions are treated by surgical procedures. The rising incidence of these diseases is expected to have a direct positive impact on the market. According to a report by the National Center for Biotechnology Information (NCBI), in Germany, over 800,000 people undergo cataract surgery every year.

Improving access to ophthalmic care facilities and rising awareness about ocular disorders are the factors boosting global ophthalmic procedural volume. This is expected to drive the demand for ophthalmic viscosurgical devices. Furthermore, the presence of government and non-governmental eye screening programs and schemes providing funds for ocular surgeries is expected to add to the market growth.

Introduction of minimally invasive and non-invasive treatment options including femtosecond procedures that can be performed without ophthalmic viscosurgical devices may restrain the demand. However, owing to the limitation of such techniques in the treatment of major conditions, the impact is expected to be mild.

Type Insights

Based on type, the ophthalmic viscosurgical devices market is segmented into cohesive, dispersive, and viscoadaptive. Dispersive ophthalmic viscosurgical devices provide endothelial protection and are also used for lubricating surgical devices and Intraocular Lens (IOL). Whereas, cohesive ophthalmic viscosurgical devices are high molecular weight viscoelastic and are used for anterior chamber space maintenance during insertion and removal of IOLs. Therefore, both cohesive and dispersive OVDs are concomitantly used in performing routine ocular surgeries.

Most of the major market players have a combination package of cohesive and dispersive OVD contained in a single unit, considering both OVDs are used simultaneously during procedures. The combination package is cost-effective, ensures quality standards, and eases out ophthalmic surgeons’ activities. For instance, DuoVisc is a brand of Alcon that contains both dispersive OVD VisCoat and a Cohesive OVD ProVisc contained in a single package.

Viscoadaptive ophthalmic viscosurgical devices segment is expected to register the fastest CAGR over the forecast period, attributed to the increasing number of complex ocular surgical cases and its biphasic benefit eliminating the need for two syringes. viscoadaptive OVD acts as both cohesive as well as dispersive contained in a single syringe and its conversion into cohesive or dispersive depend upon the applied shear rate. They are preferred in complex ocular surgeries such as pediatric cataract surgery, patient with floppy iris syndrome, trauma, Fuchs dystrophy, and other cases to avoid post-surgical complications.

Source Insights

The most commonly used viscoelastic are sodium hyaluronic acid, chondroitin sulfate, and methylcellulose. Sodium hyaluronate and chondroitin sulfate can be obtained from both animal and biological origin, but methylcellulose is obtained from a synthetic source. Methylcellulose is commercially available in the form of Hydroxypropyl Methyl Cellulose (HPMC) they are used for lubricating surgical equipment and IOL due to their exceptional wetting and coating properties.

Sodium hyaluronate based ophthalmic viscosurgical devices is extensively used in ophthalmic surgery due to the properties, such as high moisture retention, biocompatibility, and purity. Sodium hyaluronate from the biological origin is rapidly being replaced by its synthetic version because it eliminates the need for harsh extraction conditions, purification cost, and yield issues concerned with animal origin.

Viscoelastic from biological sources are preferred over animal sources. However, the presence of bacterial endotoxin which capable of initiating inflammatory response on usage could restrain the demand. Therefore, the current trends are genetically engineered host bacteria free from endotoxin production in this segment. Since viscoelastic is the core component in OVDs, vertical backward integration across the supply chain is one of the main strategic initiatives undertaken by the market players to ensure quality standards.

Application Insights

The cataract surgery segment held the largest market share in 2018 and is expected to expand at a healthy CAGR over the forecast period. Decreased intraoperative surgical complications and technological advancements that help deliver successful surgical outcomes in complex cataract procedures are the factors contributing to the segment growth. For instance, in pediatric patients’ cataract procedure is difficult to perform because of higher elasticity of pediatric eye capsule as compared to adult eyes, this, adding complexities in capsulorhexis.

Glaucoma surgery is another lucrative segment and is expected to expand at a healthy CAGR over the forecast period. The ability of ophthalmic viscosurgical devices to prevent surgical complications such as hyphema and hypotony, coupled with benefits of stabilizing the anterior chamber is expected to drive the OVD adoption in glaucoma surgery. Cohesive OVD are used more compared to dispersive OVDs in glaucoma surgery.

Regional Insights

North America held the largest market share in 2018 and is expected to register a health CAGR over the forecast period. The presence of major market players, improved access to ophthalmic care facilities, favorable Medicare policies, and rising geriatric population are some of the key factors attributed to the regional growth.

Europe held the second-largest market share in 2018. Increasing awareness about advanced ophthalmic procedures via various programs, conferences, and trade shows is expected to contribute to regional growth over the forecast period. For instance, the European Society of Cataract & Refractive Surgeons (ECRS 2019) held in Paris this year is expected to increase the reach and awareness of ophthalmic care products in Europe with major stakeholders attending the event.

Asia Pacific is expected to expand at the fastest CAGR over the forecast period. A growing number of ophthalmic care facilities coupled with a high prevalence of diabetes, especially in developing economies like India and China is expected to contribute to the regional demand for ophthalmic viscosurgical devices. Also, the International Agency for the Prevention of Blindness (IAPB) reports the cataract surgical rate is 8091 per million population per year in Japan, one of the highest in the Asia Pacific.

Ophthalmic Viscosurgical Devices Market Share insights

The leading market players include Bausch & Lomb Incorporated; Carl Zeiss Meditec AG; Johnson & Johnson Services, Inc.; Alcon AG; Rayner Intraocular Lenses Limited; Bohus Biotech AB; Beaver-Visitec International, Inc.; and Amring pharmaceutical Inc. These players focus on growth strategies such as portfolio expansion, mergers and acquisitions, conference participation, and retinal screening programs. For instance, Beaver-Visitec International (BVI) an ophthalmic surgical device manufacturer acquired Physiol, a Belgium based ophthalmic care manufacture in 2018. BVI is one of the key players in the OVDs market and with this acquisition, it will reinforce its market presence and widen its portfolio of ophthalmic viscosurgical devices.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For this study, Grand View Research has segmented the global ophthalmic viscosurgical devices market report based on type, source, application, and region:

• Type Outlook (Revenue, USD Million, 2015 - 2026)

  • Dispersive

  • Cohesive

  • Viscoadaptive

•  Source Outlook (Revenue, USD Million, 2015 - 2026)

  • Animal

  • Biological

  • Semi-synthetic

• Application Outlook (Revenue, USD Million, 2015 - 2026)

  • Cataract Surgery

  • Glaucoma Surgery

  • Corneal Grafting

  • Vitreoretinal Surgery

• Regional Outlook (Revenue, USD Million, 2015 - 2026)

  • North America

    • The U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE