Portland, OR, Aug. 14, 2019 (GLOBE NEWSWIRE) — According to the report by Allied Market Research, the global Ophthalmic Viscoelastic Devices Market generated $2.33 billion in 2018 and is estimated to reach $3.22 billion by 2026, growing at a CAGR of 4.1% from 2019 to 2026. The report offers an extensive analysis of drivers & opportunities, changing market dynamics, competitive market scenario, key segments, and market size & projections.
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Increase in prevalence of cataract & glaucoma across the world, rise in the number of government initiatives to control visual impairment, and a surge in the number of ophthalmic surgeries drive the growth in the market. On the other hand, unavailability of advanced eye surgery devices & ophthalmic clinics hinders the growth. Contrarily, untapped potential of the emerging economies would create new opportunities in the industry.
The cohesive ophthalmic viscoelastic segment to offer lucrative opportunities:
Based on product, the cohesive ophthalmic viscoelastic segment held the major share, contributing more than two-thirds of the total share in 2018 and is estimated to maintain its dominance during the forecast period. This segment is estimated to register the highest growth rate, with a CAGR of 4.3% from 2019 to 2026. This is due to the wide array of benefits offered in cataract surgery such as creation & maintenance of space in the anterior segment of the eye and implantation & reduction of the deleterious vector. The research also analyzes the dispersive ophthalmic viscoelastic segment.
The hospital’s segment to maintain dominance by 2026:
Based on end-user, the hospital’s segment generated the highest revenue in 2018, accounting for more than half of the total market share. This is due to the availability of expensive eye surgical devices in hospitals. However, the ophthalmic clinic’s segment would register the highest CAGR of 5.0% from 2019 to 2026.
North America to lead throughout the study period:
Based on geography, North America accounted for more than two-fifths of the total share in 2018 and is expected to maintain its leadership status throughout the forecast period. Simultaneously, the Asia-Pacific region would register the fastest CAGR of 5.5% from 2019 to 2026.
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Leading players in the industry:
The leading market players analyzed in the report include Eyekon Medical Inc., Cima Technology Inc., Carl Zeiss Meditec AG, Altacor Haohai Biological Technology, Johnson & Johnson, Bohus Biotech Ab, Bausch Health Companies, Inc., Novartis International AG (Alcon Inc.), and Rumex International Corporation.
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