The Ophthalmic Viscosurgical Devices Market 2023-2028 report has been added to ResearchAndMarkets.com’s offering.
Ophthalmic Viscosurgical Devices Market Projected to Grow at 6.5% CAGR
The global ophthalmic viscosurgical devices market is set to experience a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The market faced challenges initially due to the COVID-19 pandemic, with lockdowns impacting clinic and hospital footfall for eye care, leading to the postponement of procedures. However, with the lifting of restrictions and normalization of the supply chain, the market has been making a strong recovery.
Driving Factors: Aging Population and Rising Prevalence of Diabetes
The market growth is driven by factors such as the rapidly increasing geriatric population, which is more susceptible to ocular disorders, and the growing prevalence of diabetes, causing various eye issues like glaucoma, cataracts, diabetic macular, and diabetic retinopathy. The rise in the geriatric population worldwide, especially in China and India, is expected to boost market growth.
Cataract Surgery Segment on the Rise
The cataract surgery segment is expected to witness healthy growth due to the increasing prevalence of cataracts and the growing geriatric population globally. With cataracts being the leading cause of blindness and impaired vision, the demand for cataract surgery devices is increasing, driving growth in this segment. Additionally, a surge in cataract surgeries is expected to fuel demand for viscosurgical devices.
North America Holds Significant Market Share
North America is expected to hold a significant share in the global ophthalmic viscosurgical devices market due to factors such as the increasing aging population, improved access to ophthalmic care facilities, and well-established healthcare infrastructure. The region’s rising prevalence of ophthalmic diseases and adoption of organic and inorganic strategies by market players further contribute to market expansion.
Competitor Analysis: Key Players in the Market
The ophthalmic viscosurgical devices market is moderately competitive, with key players including Johnson & Johnson, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Alcon AG, and more.
Key Topics Covered
1.1 Study Assumptions and Market Definition
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
5.4.4 Middle East and Africa
5.4.5 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.
6.1.10 Advin Health Care
6.1.11 Ophtechnics Unlimited
6.1.12 EC21 Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/pvs1qk
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