Ophthalmic Viscosurgical Devices Market to grow at a CAGR of 10% from 2016 to 2024: Fractovia.org The research report on “Ophthalmic Viscosurgical Devices Market Size By Product (Dispersive, Cohesive, Combined), By Application (Cataract Surgery, Vitreoretinal Surgery, Canaloplasty, Refractive Surgery, Keratoplasty), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Japan, China, India, Australia, Malaysia, Brazil, Mexico, Argentina, South Africa, Saudi Arabia), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc., Ophthalmic Viscosurgical Devices Industry worth more than USD 280 million in 2015, is set to cross a revenue of USD 790 million by 2014, increasing exponentially at a CAGR of 10% over 2016-2024. With the rising global elderly population, vulnerable to myriad ocular conditions, ophthalmic viscosurgical devices industry is all set to witness a humongous surge over the coming years. Increasing prevalence of people suffering from eye disorders coupled with growing awareness regarding ophthalmic diagnosis will lead to noticeable market growth.
One of the principal reasons of recurring eye diseases is the lack of periodic eye checkups, which contributes to delayed disease detection. With cataract touted to be one of the major causes of blindness worldwide, accurate diagnosis becomes a mandate in order to commence the correct treatment. The trend of timely screening and treatment and the eventual rise in the number of surgical procedures will propel ophthalmic viscosurgical devices market in cataract surgery. This application segment is projected to grow at a CAGR of more than 12.6% over 2016-2024, having accounted for more than 49% of the overall revenue in 2015. The U.S. holds a record of more than 10 million cataract procedures being performed annually, which will stimulate business growth. The existence of high-tech healthcare infrastructure and an excellent reimbursement framework will further fuel U.S. ophthalmic viscosurgical devices industry, which was worth more than USD 125 million in 2015. An ever-growing geriatric population highly prone to ocular conditions such as glaucoma, high myopia, cataract, diabetic retinopathy, and retinochoroidal degeneration will propel Japan ophthalmic viscosurgical devices market. This regional industry was valued at USD 12 million in 2015 and is anticipated to be worth more than USD 41 million by 2024.
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