Ophthalmology Market is Expected to Reach USD 84,655.95 Million by 2030
The top notch Global Ophthalmology Market report studies and evaluates market drivers, market restraints, challenges, opportunities and key developments in the market. SWOT analysis has been used throughout the report which helps emphasize on the global key manufacturers, market definition, description and analysis of the market competition landscape. It makes effortless for Healthcare industry to visualize what is already available in the market, what market anticipates, the competitive environment, and what should be done to surpass the competitor. This results into actionable ideas, better decision-making and better business strategies.
The global ophthalmology market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.4% in the forecast period of 2023 to 2030 and is expected to reach USD 84,655.95 million by 2030, from USD 51,459.32 million in 2022.
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Market Definition
Ophthalmology is a branch of medicine that deals with the anatomy, physiology, treatment and surgery of the visual pathways of the eye, including surrounding areas and the visual aspects of the brain. Ophthalmic devices are medical equipment designed for surgery, diagnosis, and vision correction. The devices gained increased importance and adoption due to the high prevalence of several ophthalmic diseases, such as glaucoma, cataract, and other vision-related issues. Ophthalmic drugs are medications that are specially designed and administered for the treatment of various eye-related disorders, including color blindness, diabetic macular edema, cytomegalovirus (CMV), and age-related macular degeneration (AMD).
Drivers
- Rising prevalence of ophthalmic disorders & ocular pains
Ophthalmic disorders are the vital cause of major ocular and orbital pains in the eye. Ocular pain occurs over the surface of the eyes along with symptoms such as scratching, burning, or itching sensation. This may be due to multiple reasons, including irritation from foreign objects, infection or trauma. Eyelashes or pieces of dirt, smoke, dust or some harsh eye cosmetics are the common causes leading to ocular pain, redness, and watery eyes.
The prevalence of ocular pain keeps showing a surge in growth as chemical industries and pollution around the world are growing. Chemical burns and flash burns cause significant and severe ocular pain due to irritations over the eye surface. Style and blepharitis lead to severe ocular pain as they cause eye and oil glands to be more sensitive around the area. The affirmative factor states that this is the major driver for the global ophthalmology market.
- Rise in traumatic injuries
Traumatic head injury is one of the causes of such disorders as optic nerve disorders. A traumatic injury is a physical injury that occurs suddenly with a certain degree of severity. Trauma can be caused by a variety of external injuries. The most common causes of traumatic injury include road accidents, sports injuries, and violence, among others which can lead to some serious eye disorders as well. The prevalence of such traumatic injuries is highly seen worldwide.
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
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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)
Ophthalmology Market Scope
The global ophthalmology market is segmented into products, disease, prescription mode, drug type, route of administration, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Products
- Device
- Drugs
- Others
On the basis of products, the ophthalmology market is segmented into devices, drugs, and others.
Diseases
- Glaucoma
- Cataract
- Age-Related Macular Degeneration
- Inflammatory Diseases
- Refractive Disorders
- Others
On the basis of diseases, the ophthalmology market is segmented into glaucoma, cataracts, age-related macular degeneration, inflammatory diseases, refractive disorders, and others.
Prescription Mode
- Generic
- Branded
On the basis of prescription mode, the ophthalmology market is segmented into generic and branded.
Drug Type
- Prescription
- Over the Counter (OTC)
On the basis of drug type, the ophthalmology market is segmented into prescription and over-the-counter (OTC).
Route of Administration
- Oral
- Topical
- Injectables
- Local Ocular
- Others
On the basis of route of administration, the ophthalmology market is segmented into oral, topical, injectables, local ocular and others.
End User
- Hospitals
- Clinics
- Home Healthcare
- Others
On the basis of end user, the ophthalmology market is segmented into hospitals, clinics, home healthcare, and others.
Distribution Channel
- Direct Tender
- Retail Sales
- Others
Top Key Topics Covered:
- Strategic Imperatives
- Factors Creating Pressure on Growth
- The Strategic Imperative
- Growth Opportunities Fuel the Growth Pipeline Engine
- Research Methodology
- Scope and Segmentation
- Research Context and Scope of Analysis
- Segmentation
- Other Techniques for This Research Report Management
- Growth Opportunity Analysis
- Growth Drivers
- Growth Restraints
- Introduction
- The Impact of the COVID-19 Pandemic and Post
- Future Growth
- Innovation Ecosystem
Continued…
Fundamental Aim of this Market Report
- Notable Market rivals around the world.
- Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
Key highlights of this Market report:
- Major restraints
- Market drivers
- Regional bifurcation
- Competitive hierarchy
- Current market tendencies
- Market concentration analysis
Browse the complete table of contents at – https://www.databridgemarketresearch.com/toc/?dbmr=global-ophthalmology-market&Shri
Critical Insights Related to the adalimumab biosimilar Included in the Report:
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- Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
- Value chain analysis of prominent players in the market
- Current trends influencing the dynamics of this market across various geographies
- Recent mergers, acquisitions, collaborations, and partnerships
- Revenue growth of this industry over the forecast period
- Marketing strategy study and growth trends
- Growth-driven factor analysis
- Emerging recess segments and region-wise market
- An empirical evaluation of the curve of this market
- Ancient, Present, and Probable scope of the market from both prospect value and volume
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