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(Medical-NewsWire.com, September 27, 2018 ) Market Overview:
In the year 2018 Global Ophthalmic Drugs Market was valued at USD 33.2 billion. By the year 2023, it is predicted to reach USD 42.78billion with pace of 5.2% CAGR.
Ophthalmic drugs are the medication designed for the treatment of eye infections. Ophthalmic drugs are considerably used to treat glaucoma, cataract, diabetic retinopathy, and other ophthalmic diseases.
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Factors affecting market growth:
Increasing geriatric population across the globe. (+)
Technological advancement for manufacturing ophthalmic drugs. (+)
Rising prevalence of eye disorders globally. (+)
Increasing healthcare expenditure. (+)
Introduction of novel ophthalmic drugs and treatment devices. (+)
Increasing R&D activities for the development of ophthalmic drugs. (+)
Growing demand for ophthalmic treatment and drugs among the global population. (+)
Risk of side effects associated with ophthalmic drugs. (-)
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Market Segmentation
The Global Ophthalmic Drugs Market is geographically segmented into
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
North America holds the largest market share in the global ophthalmic drugs market followed by Europe due to presence of well-established healthcare infrastructure, increasing prevalence of eye disorders, and advancement of technologies.
Asia-Pacific is rapidly gaining the market share for ophthalmic drugs market due to rising disposable income, availability of effective treatment methods, increasing of aging population, and improving healthcare facilities which projected to witness fastest growth during the forecast period.
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Key players:
Major companies for Global Ophthalmic Drugs Market are Insight Vision Inc., Nidek Co.Ltd, Topcon Corporation, and Ziemer Ophthalmic Systems AG, Carl-Zeiss AG, Ellex Medical Lasers Ltd., Hoya Corporation, Novagali Pharma S A, Abbott Medical Optics, Inc., and Essilor International S.A.
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