The global ophthalmic viscoelastic devices market accounted for $2,332 million in 2018, and is expected to reach $3,226 million by 2026, registering a CAGR of 4.12% from 2019 to 2026. Ophthalmic viscoelastic devices are used during the surgeries for several eye-related diseases such as cataract, glaucoma, corneal transplant, age related macular degeneration, and diabetic retinopathy. These ophthalmic visco-surgical devices are of utmost importance to provide proper treatment to the patients to avoid further damage to the vision or loss of vision. Ophthalmic viscoelastic devices play a crucial role in eye surgeries by protecting the cornea, maintaining the pressure inside eye, creating deep anterior spaces, and others. The benefits these offer have led to the rise in their use across the globe.
Rise in government initiatives that aim at setting up guidelines to control the increase in vision impairment across the globe are compelling the key manufacturers to introduce novel ophthalmic devices in the market. Moreover, surge in prevalence of cataract and glaucoma, increase in number of eye surgeries performed, and rise in geriatric population are other factors that contribute toward the growth of the market. In addition, surge in adoption of viscoelastic devices across the globe also boosts the growth of viscoelastic devices market. Furthermore, growth potential offered by developing economies present lucrative opportunities for the growth of the market during the forecast period. However, high cost of ophthalmic surgeries and low accessibility to eye care in low income countries hinder the growth of this market.
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The ophthalmic viscoelastic devices market is segmented based on product, application, end user, and region to provide a detailed assessment of the market. Based on product, the market is divided into cohesive ophthalmic viscoelastic and dispersive ophthalmic viscoelastic. Based on application, the market is classified into cataract surgery, glaucoma surgery, corneal transplant, and vitreoretinal surgery. Based on end user, the market is divided into hospitals, ophthalmic clinics, others, cardiovascular disorders, and others. Based on region, the ophthalmic viscoelastic devices market size is analyzed across North America (U.S., Canada and Mexico), Europe (Germany, France, the UK, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa and rest of LAMEA).
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY MARKET BENEFITS
? The study provides an in-depth analysis of the global ophthalmic viscoelastic devices market along with the current trends and future estimations to elucidate the imminent investment pockets.
? The report presents a quantitative analysis of the market from 2018 to 2026 to enable stakeholders to capitalize on the prevailing market opportunities.
? An extensive analysis of the market based on application assists in understanding the trends in the industry.
? The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
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LIST OF KEY PLAYERS PROFILED IN THE REPORT
? Bausch Health Companies, Inc
? Eyekon Medical Inc.
? Bohus Biotech Ab
? Carl Zeiss Meditec AG
? Cima Technology Inc.
? Johnson & Johnson
? Novartis International AG (Alcon Inc.)
? Rumex International Corporation
? Haohai Biological Technology
? Altacor
LIST OF OTHER PLAYERS IN THE VALUE CHAIN (These players are not profiled in the report. The same will be included on request)
? Hoya Corporation.
? St. Shine Optical Co, Ltd.
? CooperVision Inc.
? Tomey Corporation
? Haag-Strait AG
KEY MARKET SEGMENTS
By Product Type
o Cohesive Ophthalmic Viscoelastic
o Dispersive Ophthalmic Viscoelastic
By Application
o Cataract
o Glaucoma
o Corneal Transplant
o Vitreoretinal Surgery
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By End User
o Hospitals
o Ophthalmic Clinics
o Others
By Region
? North America
o U.S.
o Canada
o Mexico
? Europe
o Germany
o France
o UK
o Italy
o Spain
o Rest of Europe
? Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o Rest of Asia-Pacific
? LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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