Insights on the Worldwide Ophthalmic Viscosurgical Devices (OVD) Market

The Global Ophthalmic Viscosurgical Devices (OVD) Market is expected to grow at CAGR of 8% over the forecast period 2019-2026. The ophthalmic viscosurgical devices industry is driven by various growth factors such as increasing population base of geriatric population and growth in number of diabetic populations globally. Moreover, rising awareness considering complications related with diabetes will further fuel the market growth over the long term. As per the International Diabetes Federation, in the year 2019, ~463 million adults in the age range of 20-79 years were living with diabetes which is expected to grow to ~700 million by the end of the year 2045; 1 in every 5 persons above 65 years of age have diabetes. Diabetic people are more at the verge of get affected with diabetic retinopathy and blindness; and increasing incidence of cataract, glaucoma and age-related macular degeneration (AMD) are driving the market growth over the long-term. Whereas, lack of awareness related to visual health, lack of availability of skilled ophthalmologists and limited availability of screening equipment are some growth hindering factors for the global ophthalmic viscosurgical devices market.