North America Ophthalmology Therapeutics Market was worth $7.36 billion in 2016 and estimated to be growing at a CAGR of 6.7%, to reach $10.18 billion by 2021. The market is showing evident potential in the mentioned forecast period. Ophthalmology deals with the treatment of eye defects and diseases. With the recent advancements in genetics and stem cell biology, the mechanisms of many ophthalmic diseases are being revealed progressively.
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North American market for Ophthalmology Therapeutics is driven by the growing prevalence for vision impairment. Approximately 11% of Americans aged 20 years and older suffering from diabetes had some form of visual impairment while 3.4 million (3%) Americans aged 40 years and older are either blind or visually impaired. 1,600,000 Americans aged 50 years and above have age related macular degeneration. Advancements in technology in the field of medicine are also playing a key role in the growth of the market. Growing geriatric population across the continent along with rise in disposable income are some of the other factors fuelling the market growth. However, lack of awareness about the various diseases associated with ophthalmology is a major factor restraining the growth of the market. Stringent regulatory framework and unclear reimbursement policies are also acting as hurdles for market growth.
North America Ophthalmology Therapeutics market is broadly categorized into Indication and End User. Based on indication the market is segmented into Glaucoma, Dry Eye Syndrome, Diabetic Retinopathy, Retinal Vein Occlusion, Age-related Macular Degeneration, Macular Edema and Allergic Conjunctivitis. Glaucoma is the largest indication segment accounting for a share of approximately 31% followed by AMD with a share of 27%. By end User the market is segmented into Hospitals, Eye Clinics, Diagnostic Centres and Patients.
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On the basis of geography, the North America Ophthalmology Therapeutics market is segmented into United States and Canada. Within North America, United States is the largest market for Ophthalmology Therapeutics with a share of xx% while Canada is estimated to be the fastest growing with a CAGR of xx% during the forecast period.
Some of the major companies covered in the report are Pfizer Inc., Allergan Inc., Alcon Inc., Merck & co. Inc., Roche Valeant, Regeneron, Santen, Bayer, Senju, Lpath and Eye Gate Pharmaceuticals
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