Ophthalmic Viscosurgical Devices Market Size By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), By End-use (Hospitals, Clinics), Industry Analysis Report,

Ophthalmic Viscosurgical Devices Market Size By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 - 2027

The ophthalmic viscosurgical devices market is expected to witness substantial growth by 2027 primarily driven by the rising prevalence of eye diseases across the globe. Moreover, manufacturers are focusing on product development with the integration of advanced technologies, which is anticipated to further propel market growth through the forecast period.

Ophthalmic viscosurgical devices help in cataract extraction as well as intraocular lens (IOL) implantation and are also used to coat IOLs and instruments in cataract surgery. These devices help create and maintain space, enhance visualization, aid tissue manipulation, and protect the corneal endothelium as well as other intraocular tissues in cataract surgery. Consequently, surging awareness regarding the benefits of these devices in cataract surgery has been a key factor fostering market outlook.

Notably, with the expanding geriatric population, there has been an upsurge in demand for eye surgeries. This has bolstered the need for effective devices in surgical procedures, which has boosted product demand across the globe.

Furthermore, industry players are developing more efficient devices to monetize the soaring market demand. As a result, increasing availability of advanced products has positively influenced industry expansion worldwide. For instance, in April 2021, Bausch + Lomb, a subsidiary of Bausch Health and a leading firm in the eye health space, announced that it had received U.S. FDA approval for the use of its ClearVisc™ dispersive ophthalmic viscosurgical device in ophthalmic surgery.

The ophthalmic viscosurgical devices market has been bifurcated on the basis of product, application, end-use, and region. In terms of product, the market has been segregated into cohesive, dispersive, and combined.

In 2020, the cohesive sub-segment was valued at more than USD 147 million and is projected to register over 3.2% CAGR over the assessment timeframe. Reduction in cell loss of the corneal endothelial after phacoemulsification, coupled with extensive application in cataract procedures for improved outcomes, is expected to fuel segmental demand in the coming years.

With respect to application, the market has been categorized into vitreoretinal surgery, cataract surgery, refractive surgery, canaloplasty, keratoplasty, and others. The canaloplasty sub-segment exceeded a valuation of USD 57 million in 2020 and is projected to expand at a CAGR of approximately 3.0% over the estimated timeline. Faster visual rehabilitation after surgery, along with limited postoperative complications, is anticipated to bolster segmental adoption through the following years.

From the perspective of end-use, the market has been segmented into hospitals, clinics, and others. In 2020, the clinics sub-segment was valued at over USD 133 million and is calculated to progress at around 3.4% CAGR over the analysis time period. Rising number of ophthalmic clinics across the globe, coupled with service affordability, is expected to support segmental growth over 2021-2027.

On the regional spectrum, the Middle East & Africa ophthalmic viscosurgical devices market was valued at over USD 8 million in 2020 and is set to observe notable expansion at a CAGR of about 3.8% through the forecast timeline. Growing awareness pertaining to ophthalmic disorders across the countries in the region is set to drive market demand in the future. "