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Ophthalmic Viscoelastic Devices Market Growth Driven By Increasing Prevalence of Ocular Dysfunction

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Ophthalmic Viscoelastic Devices Market Growth Driven By Increasing Prevalence of Ocular Dysfunction

The global ophthalmic viscoelastic devices market is driven by the increasing prevalence of ocular dysfunction. According to the first World report on vision issued by the World Health Organization in October 2019, over 1 billion people worldwide are living with vision impairment because they do not get the care they need for conditions like short and farsightedness, glaucoma, and cataract.

The increasing popularity of cataract surgery has played a significant role in the growth of the ophthalmic viscoelastic devices market. The increasing prevalence of cataract surgery around the world has given rise to a significant increase in demand for intraocular pressure relief techniques which are meant to improve vision and treat eye disorders like strabismus, myopia, presbyopia, hypermetropia, astigmatism, and presbyopia. 

In the United States ophthalmic viscoelastic devices market, cataract surgery has become one of the most common eye care treatments. Cataract surgery can correct refractive errors such as nearsightedness and farsightedness, among other problems. It has also been found to provide some degree of vision improvement to those with severe cataract conditions.

Currently, there are two types of ophthalmic viscoelastic devices available in the ophthalmic viscoelastic devices market: open and closed systems. The open systems consist of a lens and the intraocular pressure sensor together with a chin strap or headband. It has been found that this form of treatment is effective in treating children and adults with different degrees of strabismus (crossing and turning of the eye). On the other hand, the closed system consists of a lens-fitted or nose-and-throat mask that has an intraocular pressure sensor and holds the patient's head up with a backpack or headband.

The most advanced form of ophthalmic viscoelastic device is the sodium hyaluronate formulation. Sodium hyaluronate solutions are generally applied to the top part of the cornea or the back of the eyelid with the aid of a laser. Sodium hyaluronate is more effective in reducing the various symptoms of strabismus than conventional corticosteroid drugs. Studies suggest that sodium hyaluronate is effective in improving nearsightedness, farsightedness, and astigmatism, as well as in reducing the appearance of small scars, wrinkles, and age spots. However, while sodium hyaluronate is a well-tolerated medication, its side effects include itching, irritation, dryness, and stinging of the skin.

Currently, the biggest supplier of ophthalmic devices is Johnson & Johnson, which holds a significant share of the ophthalmic viscoelastic devices market through its market expansion efforts in China, Japan, France, and the United States. Its joint venture ventures in Japan enable it to produce the popular beta interferon-alpha and Argireline formulations used in several eye disorders such as cataracts and glaucoma. Through the Company's investment in its joint venture in China, Johnson& Johnson is also able to manufacture the popular Johnson& Johnson brand of eye drop drugs. In addition, the Company's stable of cosmetic solutions also enables it to generate significant market growth.

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