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Ophthalmic Viscoelastic Devices (OVD) market size, share, growth, demand
PORTLAND, OR, UNITED STATES, November 4, 2024 /EINPresswire / -- The ophthalmic viscoelastic devices market study assesses the industry's reach, revenue potential, and growth, tracking current regional trends. It also provides a qualitative analysis across various parameters, including the immediate impact on sector size, economic factors, regulatory environment, opportunity outlook, and strategies integrated by key players.
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The research report includes a company profile section that provides an overview of the company, highlighting its key executives, product and service offerings, business segments, operational insights, R&D investments, and significant strategic developments. The report covers an analysis of both regional and global markets. All information regarding the sector is sourced from highly reliable sources and thoroughly reviewed and verified by experts.
Prime determinants influencing the growth of the market
According to research published by Allied Market research, the ophthalmic viscoelastic devices industry is predicted to garner $3,226 million with an impressive CAGR of 4.12% by 2026. The surge in the number of ophthalmic surgeries, the increase in adoption of OVD devices across the world, and the rise in government initiatives to lower visual impairment drive the growth of the industry. Also, the high prevalence of glaucoma and cataracts contributes to the expansion of the sector.
However, the limited availability of advanced ophthalmic clinics and high costs of eye surgery devices limit the market growth to some extent. Nevertheless, the high potential of the developing countries is anticipated to provide prolific opportunities for growth in the future.
Trend analysis
Trend analysis in the study enables businesses to make data-driven decisions by identifying patterns in consumer behavior and market dynamics. Recognizing these trends helps companies formulate their strategies to meet consumer demands, improving overall performance and competitiveness.
The rise of cohesive OVDs, known for their resistance to shearing forces, is rapidly expanding due to the increasing demand for minimally invasive eye procedures like microincisional cataract surgery. Advances in bioengineering are also driving the development of cohesive OVDs with specialized properties. These OVDs provide surgeons with enhanced control over tissue manipulation and intraocular pressure during delicate surgeries.
At the same time, the market is experiencing growing demand for combination OVDs, which offer the benefits of both cohesive and dispersive properties in a single product. This allows surgeons to customize their procedures to the specific needs of different surgical stages, potentially improving efficiency and reducing the need for multiple OVD applications.
Competitive Analysis
The report discusses the competitive landscape of the sector, providing an in-depth analysis of industry leaders to understand their revenue share, positioning, and competitive strengths. This evaluation aims to give a comprehensive view of these frontrunners in the industry. The profile section further includes information such as a company overview, key executives, primary growth strategies, and innovative initiatives or approaches adopted to strengthen their global standing. The top entities covered in the report are:
✅ Novartis International AG (Alcon Inc.)
✅ Haohai Biological Technology
✅ Cima Technology Inc
✅ Carl Zeiss Meditec Ag
✅ Altacor
✅ Bausch Health Companies, Inc.
✅ Bohus Biotech Ab
✅ Rumex International Corporation
✅ Johnson & Johnson
✅ Eyekon Medical Inc.
Sectoral developments
In June 2021, Rayner announced its acquisition of Surgicon Healthcare Pvt Limited, based in Mumbai, India. This acquisition enabled Rayner to swiftly introduce its robust portfolio of innovative ophthalmic viscoelastic devices (OVDs), dry eye drops solutions, and intraocular lenses (IOLs), to surgeons and patients throughout India, further strengthening its global footprint.
Bausch & Lomb announced that the FDA had approved its dispersive ophthalmic viscosurgical device, ClearVisc in April 2021 for eye surgery.
To sum up, the Allied Market Research report offers a comprehensive overview of the ophthalmic viscoelastic devices industry, highlighting key investment opportunities, emerging innovations, and significant trends. It provides businesses and stakeholders with valuable insights to identify growth opportunities, tackle challenges, and improve competitive strategies, thereby strengthening their market position.
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Allied Market Research
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