Ophthalmology Market research report contains the most recent market information with which companies can get in depth analysis of Healthcare industry and future trends. Wide-ranging evaluation of the market growth predictions and restrictions has also been studied in this report. This market report offers wide-ranging analysis of the market structure for Healthcare industry along with estimations of the various segments and sub-segments of the market. It offers key measurements, status of the manufacturers and proves to be a significant source of direction for the businesses and organizations. With an international Global Ophthalmology Market report business can construct a strong organization and make better decisions that take business towards the great level of success.
The global ophthalmology market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2023 to 2030 and is expected to reach USD 84,655.95 million by 2030, from USD 51,459.32 million in 2022.
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Recent Developments
· The ophthalmology market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to a favourable market scenario.
· Some of the major players dealing in the global ophthalmology market are introducing a strong range of products provider along with launching new services and adopting strategic initiatives such as acquisition, agreement, business expansion, awards and recognition into the market. This helped companies to maximize sales with an enhanced service portfolio.
For instances,
· In October 2022, Regeneron Pharmaceuticals, Inc. announced the U.S. Food and Drug Administration (FDA) has accepted for Priority Review the supplemental Biologics License Application (sBLA) for EYLEA (aflibercept) Injection to treat Retinopathy of Prematurity (ROP) in preterm infants
· In May 2022, Alcon announced the acquisition of EYSUVIS (loteprednol etabonate suspension) pharmaceutical eye drop from Kala Pharmaceuticals, Inc. The acquisition will complement the company’s Systane family of eye drops which includes preservative-free formulations, among others
· In January 2022, Alcon announced the launch of Systane complete preservative-free lubricant eye drops in Europe. The product provides all-in-one dry eye relief with one drop by hydrating the layers of the tear film
Market Overview:
Ophthalmology is a branch of medicine that deals with the anatomy, physiology, treatment and surgery of the visual pathways of the eye, including surrounding areas and the visual aspects of the brain. Ophthalmic devices are medical equipment designed for surgery, diagnosis, and vision correction. The devices gained increased importance and adoption due to the high prevalence of several ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues. Ophthalmic drugs are medications that are specially designed and administered for the treatment of various eye-related disorders, including color blindness, diabetic macular edema, cytomegalovirus (CMV), and age-related macular degeneration (AMD Global Ophthalmology Market Scope
Key Players:
Some of the major players operating in this market are Alcon, Regeneron Pharmaceuticals Inc., Johnson & Johnson, Inc., Novartis AG, Bausch & Lomb Incorporated, HOYA Corporation., The Cooper Companies Inc., Santen Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd, Carl Zeiss Meditec AG, AbbVie Inc., EssilorLuxottica, NIDEK CO., LTD., TOPCON CORPORATION, Glaukos Corporation., STAAR SURGICAL, Metall Zug AG, Sun Pharmaceutical Industries Ltd., Lumenis Be Ltd., Pfizer Inc., and Ziemer Ophthalmic Systems AG, among others.
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The global ophthalmology market is segmented into products, disease, prescription mode, drug type, route of administration, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Products
· Device
· Drugs
· Others
On the basis of products, the ophthalmology market is segmented into devices, drugs, and others.
Diseases
· Glaucoma
· Cataract
· Age-Related Macular Degeneration
· Inflammatory Diseases
· Refractive Disorders
· Others
On the basis of diseases, the ophthalmology market is segmented into glaucoma, cataracts, age-related macular degeneration, inflammatory diseases, refractive disorders, and others.
Prescription Mode
· Generic
· Branded
On the basis of prescription mode, the ophthalmology market is segmented into generic and branded.
Drug Type
· Prescription
· Over the Counter (OTC)
On the basis of drug type, the ophthalmology market is segmented into prescription and over-the-counter (OTC).
Route of Administration
· Oral
· Topical
· Injectables
· Local Ocular
· Others
On the basis of route of administration, the ophthalmology market is segmented into oral, topical, injectables, local ocular and others.
End User
· Hospitals
· Clinics
· Home Healthcare
· Others
On the basis of end user, the ophthalmology market is segmented into hospitals, clinics, home healthcare, and others.
Distribution Channel
· Direct Tender
· Retail Sales
· Others
On the basis of distribution channels, the ophthalmology market is segmented into direct tender, retail sales, and others.).
Drivers
· Rising prevalence of ophthalmic disorders & ocular pains
Ophthalmic disorders are the vital cause of major ocular and orbital pains in the eye. Ocular pain occurs over the surface of the eyes along with symptoms such as scratching, burning, or itching sensation. This may be due to multiple reasons, including irritation from foreign objects, infection or trauma. Eyelashes or pieces of dirt, smoke, dust or some harsh eye cosmetics are the common causes leading to ocular pain, redness, and watery eyes.
The prevalence of ocular pain keeps showing a surge in growth as chemical industries and pollution around the world are growing. Chemical burns and flash burns cause significant and severe ocular pain due to irritations over the eye surface. Style and blepharitis lead to severe ocular pain as they cause eye and oil glands to be more sensitive around the area. The affirmative factor states that this is the major driver for the global ophthalmology market.
· Rise in traumatic injuries
Traumatic head injury is one of the causes of such disorders as optic nerve disorders. A traumatic injury is a physical injury that occurs suddenly with a certain degree of severity. Trauma can be caused by a variety of external injuries. The most common causes of traumatic injury include road accidents, sports injuries, and violence, among others which can lead to some serious eye disorders as well. The prevalence of such traumatic injuries is highly seen worldwide.
Hence, such traumatic injuries lead to optic nerve disorders, which are affecting the population in these years and it is increasing with the rising population. Therefore, a rise in traumatic injuries is expected to drive market growth.
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The research examines the characteristics of the target market, as well as recent developments and patterns, industry opportunities, growth rates, sector expansion strategies, and emerging technologies. The Ophthalmology market research report offered a very useful resource that can help stakeholders, manufacturers, decision-makers, and market participants to become familiar with all the factors impacting the growth of the global market. The report includes SWOT, and market analyses to provide a deep and clear understanding of aspects of the Ophthalmology market.
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