The Global Ophthalmology Drugs & Devices Market size was growing at a CAGR of 5.79% % during the forecast period (2022-2029).
Ophthalmology drug and device includes all the products used by ophthalmologists to diagnose, treat, and care for the eyes.
The global ophthalmology drugs & devices market growth is driven by the increase in the geriatric population with diabetes retinopathy is projected to propel the global market. Moreover, rise in prevalence of macular degeneration and presbyopia.
Increase in the prevalence of presbyopia, macular degeneration, and diabetic retinopathy and product launches is expected to hold the largest share in this market segment
According to the WHO, the aging population is expected to burden all areas of healthcare, and ophthalmologists provide approximately 90% of their procedure-based services to seniors. Additionally, an increase in the prevalence of presbyopia, macular degeneration, and diabetic retinopathy is a major market driver. As per the World Health Organization (WHO), in 2019, approximately 2.2 billion people were visually impaired across the world. In addition, over 39 million had vision loss, nearly 188.5 million people suffered from mild vision impairment, and over 217 million people were experiencing moderate to severe vision impairment. In many countries, cataract surgery is the most common surgical procedure performed, and it offers significant improvements in the quality of life of the elderly population at low costs. An increase in the elderly population and the high prevalence of ophthalmic disorders increases the demand for ophthalmological devices projects the future cataract surgery needs vital for human health resources, hospitals, and surgical center management and planning.
In January 2019, Kala Pharmaceuticals, Inc launched INVELTYS for the treatment of post-operative inflammation. In July 2018, Amring Pharmaceuticals, Inc launched Biolon ophthalmic viscosurgical devices in the U.S. for cataract surgeons. In August 2018, Sun Pharmaceutical Industries Ltd. received the U.S. Food and Drug Administration approval for CEQUA for the treatment of dry eyes diseases.
Download Sample Brochure @ https://www.datamintelligence.com/download-sample/ophthalmology-drugs-and-devices-market
- Surgical Devices
- Diagnostic Devices
- Age-Related Macular Degeneration
- Inflammatory Diseases
- Refractive Disorders
- Other Diseases
The global ophthalmology drugs & devices market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Essilor International SA, Haag-Streit Group, Johnson & Johnson, Nidek Co. Ltd, Topcon Corporation, and Ziemer Group AG.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. For instance, in March 2019, Alcon Inc acquired Power Vision Inc., a privately-held, United States-based medical device development company focused on creating fluid-based intraocular lens implants.
DataM Intelligence was established on an elemental idea of publishing Advanced Market Research Reports with precise data points & utmost accuracy that will accelerate the decision-making in designing disruptive solutions.