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    Ophthalmic Viscoelastic Devices (OVD) Market Report

    Ophthalmic Viscoelastic Devices (OVD) Market Report
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    Ophthalmic Viscoelastic Devices (OVD) Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Ophthalmic Viscoelastic Devices (OVD) Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Ophthalmic Viscoelastic Devices (OVD) Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Ophthalmic Viscoelastic Devices (OVD) Market is estimated to grow from USD 2.5 billion in 2020 to USD 3.1 billion by 2026 at a healthy CAGR of 4.1% during the forecast period.

    Figure: Ophthalmic Viscoelastic Devices (OVD) Market Size, 2020-2026 (USD Billion)

    Ophthalmic-Viscoelastic-Devices-(OVD)-Market-Forecast

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    What are ophthalmic viscoelastic devices?

    Ophthalmic viscoelastic devices (OVDs) are widely employed by ophthalmologists in numerous eye surgeries like glaucoma surgery, cataract surgery, and others. OVDs are a typical tool employed in ophthalmic surgeries. These devices help in protecting the fragile ocular structures together with creating pressure within the anterior chamber, compartmentalizing inside the attention, and providing a faster and safer surgery with better recovery for the patients.

    Key Players

    Key players operating in the Ophthalmic Viscoelastic Devices (OVD) market are-

    • Altacor (UK)
    • Bausch Health Companies Inc. (Canada)
    • Bohus Biotech Ab (Sweden)
    • Carl Zeiss Meditec Ag (Germany)
    • Cima Technology Inc. (US)
    • Eyekon Medical Inc. (US)
    • Haohai Biological Technology (China)
    • Johnson & Johnson (US)
    • Novartis International AG (Alcon Inc.) (Switzerland)
    • Rumex International Corporation (US).

    Market Dynamics

    An increase in favorable government initiatives which aim at setting up guidelines to control the rise in vision impairment around the world is encouraging the product manufacturers to introduce novel ophthalmic devices in the industry. Also, the surge in the number of eye surgeries performed, the rise in prevalence of cataracts and glaucoma, and an increase in the geriatric population are other major factors augmenting the market growth. However, the high cost of ophthalmic surgeries, as well as low accessibility to eye care in low-income countries, is likely to hamper the industry growth.

    Segments' Analysis

    Application Trends

    Based on application, the ophthalmic viscoelastic devices (OVD) market is classified into cataract, glaucoma, corneal transplant, vitreoretinal surgery. The cataract segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to an increasing prevalence of cataracts, which was witnessed over the past few years worldwide. In addition, ophthalmic viscoelastic devices play a key role in the patients suffering from cataracts by offering pressure to the anterior chamber and protecting the eye from getting damaged during the cataract surgeries, which bolsters the segment growth.

    Regional Trends

    By region, the North American market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a surge in the number of cataract surgeries performed, easy availability of skilled ophthalmologists and viscoelastic devices, the large presence of a majority of major players, and rise in government intervention for prevention of visual impairment, thereby proliferating the regional market growth.

    COVID-19 Impact on Ophthalmic Viscoelastic Devices (OVD) Market

    The COVID-19 outbreak has moderately affected the ophthalmic viscoelastic devices (OVD) industry. The virus outbreak has turned the lives of people worldwide, with the number of cases increasing rapidly. The COVID-19 crisis has reduced the number of visits to ophthalmology clinics and the eye surgeries were postponed to curb the spread of the virus, thus affecting the market growth amid the pandemic.

    Critical Questions Answered in the Report

    • What are the key trends in the Ophthalmic Viscoelastic Devices (OVD) market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on Ophthalmic Viscoelastic Devices (OVD)?
    • What are the key strategies adopted by the major vendors to lead in the Ophthalmic Viscoelastic Devices (OVD) market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the ophthalmic viscoelastic devices market hopes to have the greatest opportunity to convert-

    • Ophthalmic Viscoelastic Devices (OVD) vendors
    • Ophthalmic Viscoelastic Devices (OVD) retailers
    • Ophthalmology clinics
    • Hospitals

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The ophthalmic viscoelastic devices market is expected to witness an impressive growth of 4.1% CAGR in the coming years.

    Altacor (UK), Bausch Health Companies Inc. (Canada), Bohus Biotech Ab (Sweden), Carl Zeiss Meditec Ag (Germany), Cima Technology Inc. (US), Eyekon Medical Inc. (US), Haohai Biological Technology (China), Johnson & Johnson (US), Novartis International AG (Alcon Inc.) (Switzer-land), and Rumex International Corporation (US) are among the key players in the ophthalmic viscoelastic devices market.

    The ophthalmic viscoelastic devices market size is expected to reach USD 3.1 billion in the foreseeable future.

    The cataract segment is expected to register a healthy CAGR in the ophthalmic viscoelastic devices market in the coming years.

    North America is expected to grow at a substantial CAGR in the ophthalmic viscoelastic devices market in the next five years.

    Ophthalmic Viscoelastic Devices (OVD) vendors, Ophthalmic Viscoelastic Devices (OVD) retailers, Ophthalmology clinics, Hospitals are the target audience in the ophthalmic viscoelastic devices market.

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