Ophthalmology Drugs And Devices Market
PUBLISHED: 2023 ID: SMRC22534
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Ophthalmology Drugs And Devices Market

Ophthalmology Drugs and Devices Market Forecasts to 2028 - Global Analysis By Drug Class (Allergic Conjunctivitis and Inflammation Drugs, Glaucoma Drugs, Dry Eye Drugs, Retinal Disorder Drugs and Other Drug Classes), Device (Diagnostic Devices, Surgical Devices, Vision care), Delivery Type, Application, End User and By Geography

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4.2 (25 reviews)
Published: 2023 ID: SMRC22534

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $36.7 BN

Projected Year Value (2028)

US $64.1 BN

CAGR (2022 - 2028)

9.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Ophthalmology Drugs and Devices Market is accounted for $36.7 billion in 2022 and is expected to reach $64.1 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Ophthalmology is a branch of medicine concerned with the diagnosis and treatment of eye problems. Cataract surgery, glaucoma surgery, and refractive surgery are all procedures that involve ophthalmic equipment. Ophthalmic medications are used to treat a variety of eye illnesses. The increased incidence and prevalence of eye-related illnesses are causing the market to expand significantly. People are increasingly turning to ophthalmic surgery to treat eye-related problems, due to the development of advanced ophthalmic devices.

According to the data published by the MoHFW, Government of India, glaucoma is estimated to be the second most common cause of blindness worldwide, and WHO estimated that 4.5 million people are blind due to glaucoma.



Market Dynamics:

Driver:

Rising incidence of ophthalmic diseases

The prevalence of ophthalmic disorders such as age-related macular degeneration, dry eyes, glaucoma, and eye allergies is increasing. The most common causes of visual deterioration are refractive errors and cataracts. A leading factor in incurable blindness is glaucoma. Therefore, the rising prevalence of ophthalmic disorders is likely to fuel market expansion.

Restraint:

Strict regulations

Strict FDA regulations for testing the sterility of compounded ophthalmic medications, as well as regulations for drug safety and efficacy, require a longer period. This is considered to be the major factor limiting growth. Increasing health care expenses and economic decline in several developing countries have restricted the growth of the market.

Opportunity:

Change in working lifestyle

Workplace digitization and an increase in sedentary occupations are forcing workers to spend extended hours in front of a computer screen. Computer vision syndrome has emerged as a result of an increase in incidences of dry eyes due to excessive time spent on electronic gadgets. The continuous digitalization of the workplace is projected to be a major market driving factor.

Threat:

Lack of awareness

Lack of awareness about eye problems is an obstacle to market expansion. Furthermore, roughly half of them might have been prevented if they had received effective care on time. The lack of awareness is greater in developing countries. Hence, the absence of awareness regarding eye illnesses, and eye problems are the major factors restraining the market growth.

Covid-19 Impact

Numerous firms all across the world are experiencing commercial challenges as a result of the pandemic. The ophthalmic medicines and devices market's supply chain is crucial for meeting consumer needs. The epidemic has led to import and export limitations in several nations. Since many nations rely on other nations for their technology and raw material supply, this also impacted the healthcare sector. During the first part of the pandemic, there was a shortage of the raw materials needed to make ophthalmic medications, including buffering agents, preservatives, and active ophthalmic pharmaceutical components.

The glaucoma segment is expected to be the largest during the forecast period

The glaucoma segment is estimated to have a lucrative growth, due to the increasing geriatric population. Glaucoma is one of the most common causes of vision loss or blindness. Being irreversible, the early detection and management of glaucoma are of utmost importance. With increasing ageing, the incidence of glaucoma is expected to rise shortly, driving market growth.

The gels segment is expected to have the highest CAGR during the forecast period

The gels segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increased products. They are available as viscous liquids. They enable the integration of pharmaceutical drugs to provide the desired therapeutic effect, and bioactivity at specific ocular locations is the drivers propelling segment expansion.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the presence of a large patient pool, high disease prevalence, and the emergence of local companies. Moreover, various strategic initiatives undertaken by market players are also expected to boost regional growth.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the presence of well-established healthcare facilities, the rise in the geriatric population. The geriatric population is increasing, and it is more susceptible to developing eye diseases, which is further anticipated to widen the base for market growth.



Key players in the market

Some of the key players profiled in the Ophthalmology Drugs and Devices Market include Alcon Inc., Johnson and Johnson Vision, Allergan plc, Topcon Corporation, Novartis AG, Bausch Health Companies Inc., Regeneron Pharmaceuticals Inc, Coherus Biosciences, Inc., Bayer AG, Genentech, Inc., Carl Zeiss Meditec AG, Teva Pharmaceutical Industries Ltd., Lomb Incorporated, Nidek Co., Ltd., Ziemer Ophthalmic Systems and Regeneron Pharmaceuticals.

Key Developments:

In August 2020, Topcon Corporation purchased the Henson line of perimetry products, including the Henson 9000 and 7000, from the United Kingdom-based Elektron Eye Technology (EET) of Cambridge.

In March 2019, Alcon Inc. acquired Power Vision Inc., a privately held medical device development company based in the United States that specializes in fluid-based intraocular lens implants.

Drug Classes Covered:
• Allergic Conjunctivitis and Inflammation Drugs
• Glaucoma Drugs
• Dry Eye Drugs
• Retinal Disorder Drugs
• Other Drug Classes

Devices Covered:
• Diagnostic Devices
• Surgical Devices
• Vision care

Delivery Types Covered:
• Eye Solutions
• Capsules & Tablets
• Ointments
• Eye Drops
• Gels
• Other Delivery Types

Applications Covered:
• Cataract
• Refractive Disorders
• Inflammatory Diseases
• Glaucoma
• Age-Related Macular Degeneration
• Other Applications

End Users Covered:
• Diagnostic Centres
• Hospitals
• Medical Clinics
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Ophthalmology Drugs and Devices Market, By Drug Class
5.1 Introduction
5.2 Allergic Conjunctivitis and Inflammation Drugs
5.3 Glaucoma Drugs
5.4 Dry Eye Drugs
5.5 Retinal Disorder Drugs
5.6 Other Drug Classes

6 Global Ophthalmology Drugs and Devices Market, By Device
6.1 Introduction
6.2 Diagnostic Devices
6.3 Surgical Devices
6.3.1 Ophthalmic Lasers
6.3.2 Intraocular Lenses
6.3.3 Other Surgical Devices
6.4 Vision care

7 Global Ophthalmology Drugs and Devices Market, By Delivery Type
7.1 Introduction
7.2 Eye Solutions
7.3 Capsules & Tablets
7.4 Ointments
7.5 Eye Drops
7.6 Gels
7.7 Other Delivery Types

8 Global Ophthalmology Drugs and Devices Market, By Application
8.1 Introduction
8.2 Cataract
8.3 Refractive Disorders
8.4 Inflammatory Diseases
8.5 Glaucoma
8.6 Age-Related Macular Degeneration
8.7 Other Applications

9 Global Ophthalmology Drugs and Devices Market, By End User
9.1 Introduction
9.2 Diagnostic Centres
9.3 Hospitals
9.4 Medical Clinics
9.5 Other End Users

10 Global Ophthalmology Drugs and Devices Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Alcon Inc.
12.2 Johnson and Johnson Vision
12.3 Allergan plc
12.4 Topcon Corporation
12.5 Novartis AG
12.6 Bausch Health Companies Inc.
12.7 Regeneron Pharmaceuticals Inc
12.8 Coherus Biosciences, Inc.
12.9 Bayer AG
12.10 Genentech, Inc.
12.11 Carl Zeiss Meditec AG
12.12 Teva Pharmaceutical Industries Ltd.
12.13 Lomb Incorporated
12.14 Nidek Co., Ltd.
12.15 Ziemer Ophthalmic Systems
12.16 Regeneron Pharmaceuticals

List of Tables
1 Global Ophthalmology Drugs and Devices Market Outlook, By Region (2020-2028) ($MN)
2 Global Ophthalmology Drugs and Devices Market Outlook, By Drug Class (2020-2028) ($MN)
3 Global Ophthalmology Drugs and Devices Market Outlook, By Allergic Conjunctivitis and Inflammation Drugs (2020-2028) ($MN)
4 Global Ophthalmology Drugs and Devices Market Outlook, By Glaucoma Drugs (2020-2028) ($MN)
5 Global Ophthalmology Drugs and Devices Market Outlook, By Dry Eye Drugs (2020-2028) ($MN)
6 Global Ophthalmology Drugs and Devices Market Outlook, By Retinal Disorder Drugs (2020-2028) ($MN)
7 Global Ophthalmology Drugs and Devices Market Outlook, By Other Drug Classes (2020-2028) ($MN)
8 Global Ophthalmology Drugs and Devices Market Outlook, By Device (2020-2028) ($MN)
9 Global Ophthalmology Drugs and Devices Market Outlook, By Diagnostic Devices (2020-2028) ($MN)
10 Global Ophthalmology Drugs and Devices Market Outlook, By Surgical Devices (2020-2028) ($MN)
11 Global Ophthalmology Drugs and Devices Market Outlook, By Ophthalmic Lasers (2020-2028) ($MN)
12 Global Ophthalmology Drugs and Devices Market Outlook, By Intraocular Lenses (2020-2028) ($MN)
13 Global Ophthalmology Drugs and Devices Market Outlook, By Other Surgical Devices (2020-2028) ($MN)
14 Global Ophthalmology Drugs and Devices Market Outlook, By Vision care (2020-2028) ($MN)
15 Global Ophthalmology Drugs and Devices Market Outlook, By Delivery Type (2020-2028) ($MN)
16 Global Ophthalmology Drugs and Devices Market Outlook, By Eye Solutions (2020-2028) ($MN)
17 Global Ophthalmology Drugs and Devices Market Outlook, By Capsules & Tablets (2020-2028) ($MN)
18 Global Ophthalmology Drugs and Devices Market Outlook, By Ointments (2020-2028) ($MN)
19 Global Ophthalmology Drugs and Devices Market Outlook, By Eye Drops (2020-2028) ($MN)
20 Global Ophthalmology Drugs and Devices Market Outlook, By Gels (2020-2028) ($MN)
21 Global Ophthalmology Drugs and Devices Market Outlook, By Other Delivery Types (2020-2028) ($MN)
22 Global Ophthalmology Drugs and Devices Market Outlook, By Application (2020-2028) ($MN)
23 Global Ophthalmology Drugs and Devices Market Outlook, By Cataract (2020-2028) ($MN)
24 Global Ophthalmology Drugs and Devices Market Outlook, By Refractive Disorders (2020-2028) ($MN)
25 Global Ophthalmology Drugs and Devices Market Outlook, By Inflammatory Diseases (2020-2028) ($MN)
26 Global Ophthalmology Drugs and Devices Market Outlook, By Glaucoma (2020-2028) ($MN)
27 Global Ophthalmology Drugs and Devices Market Outlook, By Age-Related Macular Degeneration (2020-2028) ($MN)
28 Global Ophthalmology Drugs and Devices Market Outlook, By Other Applications (2020-2028) ($MN)
29 Global Ophthalmology Drugs and Devices Market Outlook, By End User (2020-2028) ($MN)
30 Global Ophthalmology Drugs and Devices Market Outlook, By Diagnostic Centres (2020-2028) ($MN)
31 Global Ophthalmology Drugs and Devices Market Outlook, By Hospitals (2020-2028) ($MN)
32 Global Ophthalmology Drugs and Devices Market Outlook, By Medical Clinics (2020-2028) ($MN)
33 Global Ophthalmology Drugs and Devices Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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