Ophthalmology is a medical field focused on the study of the eye's structure, function, and the diagnosis, treatment, and surgical intervention of visual disorders. Ophthalmic devices are specialized medical equipment used for surgical procedures, diagnostics, and correcting visual impairments. These devices have become increasingly important and widely adopted due to the high prevalence of conditions like glaucoma, cataracts, and other vision-related problems. Ophthalmic drugs refer to medications specifically formulated and administered to treat various eye-related disorders, such as color blindness, diabetic macular edema, cytomegalovirus (CMV) infection, and age-related macular degeneration (AMD).
According to Data Bridge Market Research, Ophthalmology market accounted for USD 51,459.32 million in 2022, and expected to reach USD 84,655.95 million by 2030. The market is expected to grow with a CAGR of 6.4% in the forecast period of 2023 to 2030.
“Rising prevalence of ophthalmic disorders and ocular pains”
Ophthalmic disorders are a significant source of ocular and orbital pain, affecting the eye. Ocular pain manifests as sensations of scratching, burning, or itching on the surface of the eyes. Various factors can contribute to this discomfort, including irritation caused by foreign objects, infections, or trauma. Common causes of ocular pain, redness, and excessive tearing include the presence of eyelashes, particles of dirt, exposure to smoke, dust, or the use of harsh eye cosmetics. Therefore, the rising prevalence of ophthalmic disorders and ocular pains is driving the market’s growth.
What restraints the growth of the ophthalmology market?
“Lack of skilled professionals”
The availability of ophthalmologists is limited in both emerging and industrialized countries, although projections show slightly higher numbers for developing nations. The cumulative growth of ophthalmologists does not match the rapid increase in the elderly population aged 60 years and above, who require expanded ophthalmic care. The misalignment between demographic changes and professional development is a challenge in many countries. Training eye care teams is necessary to address the current shortage of ophthalmologists worldwide.
Segmentation: Global Ophthalmology Market
The ophthalmology market is segmented on the basis of products, disease, prescription mode, and drug type, route of administration, end user, and distribution channel.
- On the basis of products, the ophthalmology market is segmented into devices, drugs, and others.
- On the basis of disease, the ophthalmology market is segmented into glaucoma, cataracts, age-related macular degeneration, inflammatory diseases, refractive disorders, and others.
- On the basis of prescription mode, the ophthalmology market is segmented into generic and branded.
- On the basis of drug type, the ophthalmology market is segmented into prescription and over-the-counter (OTC).
- On the basis of route of administration, the ophthalmology market is segmented into oral, topical, injectable, local ocular, and others.
- On the basis of end user, the ophthalmology market is segmented into hospitals, clinics, home healthcare, and others.
- On the basis of distribution channel, the ophthalmology market is segmented into direct tender, retail sales, and others.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-ophthalmology-market
Recent Developments
- 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. This development helps the organization in developing its brand image in the ophthalmology market, among others
- In May 2022, Reichert, Inc. has launched its redesigned refractometers & analytical instruments website with a vastly improved user experience
The Prominent Key Players Operating in the Ophthalmology Market Include:
- Alcon, Regeneron Pharmaceuticals Inc. (U.S.)
- Johnson & Johnson, Inc. (U.S.)
- Novartis AG (Switzerland)
- Bausch & Lomb Incorporated (Canada)
- HOYA Corporation. (Japan)
- The Cooper Companies Inc. (U.S.)
- Santen Pharmaceutical Co.Ltd. (Japan)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Carl Zeiss Meditec AG (Germany)
- AbbVie Inc. (U.S.)
- EssilorLuxottica (France)
- NIDEK CO., LTD. (U.S.)
- TOPCON CORPORATION (Japan)
- Glaukos Corporation. (U.S.)
- STAAR SURGICAL (U.S.)
- Metall Zug AG (Switzerland)
- Sun Pharmaceutical Industries Ltd. (India)
- Lumenis Be Ltd. (Israel)
- Pfizer Inc. (U.S.)
- Ziemer Ophthalmic Systems AG (Switzerland)
Above are the key players covered in the report, to know about more and exhaustive list of ophthalmology market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Ophthalmology Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Globalvs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
