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(Medical-NewsWire.com, July 13, 2017 ) According to the report “Global Ophthalmology Therapeutics Market,” published by Market Data Forecast, the global market is projected to reach USD 31.87 billion by 2021 from USD 22.3 billion in 2016, at a CAGR of 7.4% from 2016 to 2021.
Ophthalmology is the science of eyes. It is the branch of medicine concerned with the treatment of eye-related diseases and eye defects. Some of the common eye disorders are glaucoma, retinal diseases, conjunctivitis, refractive errors, color blindness, and retinitis. Many of the eye diseases do not show symptoms at early stages. They will be painless with no defect in vision until the disease progresses to an advanced stage. Regular eye checkups must be done to detect the development of any disorder. Proper care and hygiene must be ensured to protect the eyes.
Global ophthalmology drug and devices market is witnessing a significant growth due to the increasing incidence and prevalence of eye related disorders such as presbyopia, macular degeneration, and diabetic retinopathy among the aging population. With the introduction of ophthalmic devices equipped with sophisticated technologies, people are increasingly opting for ophthalmic surgeries to correct their eye related disorders.
Lack of health insurance amongst population especially within the developing countries or lack of insurance covering all types of IOLs or contact lens in developed countries is a significant challenge faced by the ophthalmology industry. The other challenges include low awareness about the ophthalmic disorders, especially in developing countries. This is primarily due to the lack of awareness amongst rural population about the various ophthalmic disorders such as cataract.
Get a comprehensive overview of the Global Ophthalmology Therapeutics market: http://www.marketdataforecast.com/market-reports/global-ophthalmology-therapeutics-market-1106/
Global Ophthalmology Therapeutics Market: Drivers & Restraints
Global market for Ophthalmology Therapeutics is driven by the growing prevalence for vision impairment, which was estimated to be 147 million in 2010, and is estimated to reach 191 million in the world in 2020. Technological advancement in the field of medicine are also playing a major role in the growth of the market. Increasing geriatric population around the globe along with rise in disposable income are some of the other factors driving the market for Ophthalmology Therapeutics Market. 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.
Get accurate market forecast and analysis on the Global Ophthalmology Therapeutics market. Request a sample to stay up-to-date on the main trends affecting this market http://www.marketdataforecast.com/market-reports/global-ophthalmology-therapeutics-market-1106/request-sample
Global Ophthalmology Therapeutics market: Segmentation
By Indication
• Glaucoma
• Dry Eye Syndrome
• Diabetic Retinopathy
• Retinal Vein Occlusion
• Age-Related Macular Degeneration (AMD)
• Macular Edema
• Allergic Conjunctivitis
By End User
• Hospitals
• Eye Clinics
• Diagnostic Centers
• Patients
From simple data collation through secondary and primary research toad-hoc research requests relating to specific information, we provide our services via customization. Get customization at http://www.marketdataforecast.com/market-reports/global-ophthalmology-therapeutics-market-1106/customize-report
Global Ophthalmology Therapeutics market: Overview
Annual growth rates in the ophthalmic sector are twice that of the overall pharmaceutical industry, driven by new developments in ophthalmic therapies that have emerged over the past 5 years. These advancements have transformed this historically slow growth, generic-centric and price-competitive market segment into a high-growth sector fueled by technology and characterized by increasing opportunity.
Market growth has been spurred by the introduction of differentiated therapies due to novel mechanism of action, such as ranibizumab, a vascular endothelial growth factor (VEGF) inhibitor that ameliorates the progression of age-related macular degeneration. Ranibizumab is now the single-largest revenue generator in the ophthalmic segment, despite its introduction only 31/2 years ago.
In contrast to technical innovation, marketing promotion and sales continue to be a source of value for the industry, as demonstrated by the number one prescribed glaucoma medicine, Xalatan, marketed by the largest pharmaceutical company in the world, Pfizer, despite a highly similar mechanism of action to competing products.
Global Ophthalmology Therapeutics market: Region-wise Outlook
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East. North America is the dominating market for Ophthalmology Therapeutics accounting for a share of approximately xx% followed by Europe. Asia-Pacific is estimated to be the fastest growing region with a CAGR of xx% during the forecast period of 2016-2021.
Key Questions Answered
• What is the current and future Ophthalmology Therapeutics market outlook worldwide? What trends are affecting the Global market?
• What is the competitive landscape and market share of major players in the Ophthalmology Therapeutics space globally?
• What are the key, high growth markets that Ophthalmology Therapeutics manufacturers should expand into? Which market segments are growing the fastest?
• What are the unmet needs with the Ophthalmology Therapeutics currently on the market? How will emerging technologies fulfil these unmet needs?
• What is physician perception and market outlook of Ophthalmology Therapeutics?
• What are the challenges and barriers that have hindered widespread adoption of Ophthalmology Therapeutics?
Global Ophthalmology Therapeutics market: Key Players
Pfizer Inc., Allergan Inc., Alcon Inc., Merck & co. Inc. and Roche are the major companies in the market accounting for a share of approximately 70%. Other major companies covered in the report are Valeant, Regeneron, Santen, Bayer, Senju, Lpath and Eye Gate Pharmaceuticals
Reasons to buy Ophthalmology Therapeutics market Report:
•Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
• Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
•Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
•Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
•A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
•Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
•Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Checkout other related studies in the Therapeutics Segment:
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