Dublin, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The "Ophthalmic Viscosurgical Devices Market - Growths, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The ophthalmic viscosurgical devices market is expected to register a CAGR of 4.5%, during the forecast period. This is attributing to the rapidly increasing geriatric population, increasing prevalence of diabetes, and an increasing number of cataract and glaucoma surgeries performed. The increasing geriatric population worldwide is more prone to ocular disorders. These ophthalmic viscosurgical devices help in maintaining the anterior chamber during the surgical maneuver and are widely used as surgical aid for performing cataract, glaucoma, and vitrectomy surgeries.
For instance, as per the report published in the National Institute Center for Biotechnology, in Germany, around 800,000 people are going for cataract surgery, every year. Moreover, technological advancements, growing patient awareness, and preference about minimally invasive or noninvasive, coupled with novel products, are some more factors triggering the growth of the market studied. However, the availability of alternative procedures may hamper market growth.
Key Market Trends
Ophthalmic Viscosurgical Devices in Cataract Surgery is Estimated to Witness a Healthy Growth in Future
Ophthalmic viscosurgical devices in cataract surgery attributed to an increasing number of targeted patient pools and growing awareness about ocular diseases. Moreover, they are estimated to witness healthy growth in the future. These devices help in anterior chamber space maintenance and preventing corneal endothelial cell loss, during ocular surgical procedures. Thus, this device results in improving surgical procedures.
Additionally, decreased intraoperative surgical complication, associated with using the device and technological advancements, results in better and successful surgical outcomes. As per Eurostat, in 2017, around 5 million cataract surgeries were performed in Europe. With such a high number of surgeries performed, the adoption of ophthalmic viscosurgical devices further propels the segment growth, due to several benefits associated with this device.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to hold a significant market share in the global ophthalmic viscosurgical devices market, due to the increasing aging population, improved access to ophthalmic care facilities, increasing healthcare expenditure, and the presence of well-established healthcare infrastructure.
Moreover, the high number of cataract surgery population results in boosting the market in the region. For instance, as per the American Academy of Ophthalmology, it is estimated that around 50 million people suffer from cataracts in the United State, which is also a leading cause of blindness in this region. Hence, the rising number of target populations in this region is expected to drive the market growth.
The ophthalmic viscosurgical devices market is moderately competitive and consists of several major players. Some of the companies currently dominating the market include Johnson & Johnson, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Rayner Intraocular Lenses Limited, Alcon AG, Beaver-Visitec International Inc., Bohus Biotech AB, Truviz Ophthalmic, and Amring Pharmaceutical Inc.
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The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapidly Increasing Geriatric Population
4.2.2 Increasing Prevalence of Diabetes
4.2.3 Increasing Number of Cataract and Glaucoma Surgeries Performed
4.3 Market Restraints
4.3.1 Availability of Alternative Treatment Procedures
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.2 By Source
5.3 By Application
5.3.1 Glaucoma Surgery
5.3.2 Cataract Surgery
5.3.3 Corneal Grafting
5.3.4 Other Applications
5.4 By Geography
5.4.1 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Johnson & Johnson
6.1.2 Carl Zeiss Meditec AG
6.1.3 Bausch & Lomb Incorporated
6.1.4 Rayner Intraocular Lenses Limited
6.1.5 Alcon AG
6.1.6 Beaver-Visitec International Inc.
6.1.7 Bohus Biotech AB
6.1.8 Truviz Ophthalmic
6.1.9 Amring Pharmaceutical Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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