Ophthalmology involves the diagnosis and treatment of diseases of the eye. The number of vision disorders bein...
Ophthalmology involves the diagnosis and treatment of diseases of the eye. The number of vision disorders being treated in the market using pharmaceuticals and surgery is huge, including myopia, presbyopia, glaucoma, cataract, corneal disorders, and retinal disorders. An increased focus on greater understanding and early detection of the disease is helping improve the rate of seeking treatments for various eye disorders, and this has been an important factor driving the growth of the market of ophthalmology drugs and devices.
The market for ophthalmology pharmaceuticals can be broadly segmented based on various diagnostic and therapeutic products used in testing and treatments including over-the-counter (OTC) drugs, treatment-based drugs, and ocular anesthetics. OTC drugs can be purchased without a prescription from medical stores, while anesthetics are used only by surgeons and cannot be bought by individuals. Treatment-based drugs are used in treating different vision disorders and can be classified as retinal disorder drugs, dry eye disorder drugs, anti-allergy, anti-inflammatory or anti-infective drugs, and anti-glaucoma drugs. Also, based on the types of treatments, the ophthalmology market can be segmented into two main categories- refractive vision correction, that addresses conditions like myopia, hyperopia, presbyopia, and astigmatism; and major eye diseases, that addresses diseases like cataract, glaucoma, age-related macular degeneration (AMD), and retinal disorders.
The global market for ophthalmology products is witnessing rapid growth due to the increasing incidence and prevalence of major eye related disorders. The four most serious eye diseases that may lead to deteriorating vision and sometimes blindness include cataract, glaucoma, AMD, and retinal disorders (mainly diabetic retinopathy and diabetic edema). Of these, the markets for glaucoma, allergic conjunctivitis, and AMD are being affected greatly by generic erosion. But, the persistent unmet needs in these markets make the overall ophthalmology drugs and diagnostics market attractive, in spite of generic erosion. The key factors propelling growth of this market is the rising consciousness about the availability of effective diagnostic tools, the importance of detecting ophthalmic diseases early, and an increase in the occurrence of diseases like diabetes that further lead to a large number of eye-related complications. Also, technological innovations continue to play a crucial role in slowing the progress of vision loss through popular techniques such as laser surgeries. Key players in this market include Abbott Medical Optics Inc., Allergan Inc., STAAR Surgical Company, Carl Zeiss Meditec AG, Advanced Medical Optics, Alcon Laboratories Inc., Bausch & Lomb, Novartis Ophthalmics, and Nidek Inc., amongst others.
This section on ophthalmology market research consists of research reports providing detailed analysis of the most recent trends and technological developments in the global ophthalmology market. These reports are a valuable resource for the most updated data and analysis, pertaining to the ophthalmology industry. Generated after tremendous in-depth research, the reports address various aspects of the market including market segmentation, growth drivers and prospects, opportunity assessment, industry trends, market forecasts, strategic analysis, etc.