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Global Ophthalmology Drug and Device Market 2020 Latest Industry Growth Analysis by Upcoming Trends, Emerging Technology by Regions, Supply and Forecast 2024

Ophthalmology Drug and Device

The “Ophthalmology Drug and Device Market” report 2020 covers all the significant developments which are recently being adopted across the global market. The prime objective of the Ophthalmology Drug and Device market report is to provides an in-depth analysis of all market dynamics including drivers and restraints, and trends, and opportunities. The Ophthalmology Drug and Device market report covers both the demand and supply aspects of the market. The report also highlighted the future trends in the Ophthalmology Drug and Device market that will impact the demand during the forecast period.

Scope of the Report:

Ophthalmology is a branch of medicine that deals with the anatomy, physiology, and diseases of the eye. Ophthalmologists, who are specialists in medical and surgical eye problems, perform operations on eyes. They are specially trained to provide the full spectrum of eye care, from prescribing glasses and contact lenses to complex and delicate eye surgery. The devices include glasses, lenses, diagnostics, lasers, solutions, and surgical instruments.

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Market Overview:

  • The ophthalmology drug and device market is expected to witness a CAGR of 5.3% during the forecast period. Certain factors that are driving the growth of the market include demographic shift, impact of the prevalence of eye disease, technological advancements in the field of ophthalmology, and rising geriatric population.
  • Cataract volume registered a rapid increase in recent years. The aging population is expected to burden all areas of health care, and ophthalmologists provide approximately 90% of their procedure-based services to seniors. In many countries, cataract surgery is the most frequent surgical procedure performed, and it offers significant improvements in the quality of life of the elderly population at low costs. An increase in the demand for ophthalmological devices projects the future cataract surgery needs that are vital for human health resources and hospitals, and for surgical center management and planning.
  • Other factors, such as the availability of new drugs and devices and the prevalence of eye disease, are also expected to drive the market over the forecast period.
  • Many regulations are imposed by agencies, such as the FDA, to ensure the safety and efficacy of products. Due to frequent occurrences of violations, tighter regulations were enforced on the label contents. The cost of complying with FDA guidelines is expected to drive many small pharmacies out of business or force them to consolidate. For example, these regulations impose a beyond-use date of only five days for bevacizumab and other biologics. However, it takes 14 days just to test the sterility of these drugs, which means that the regulations for compounded ophthalmology drugs besides bevacizumab, such as ophthalmology mitomycin, and triamcinolone acetonide plus moxifloxacin hydrochloride injection, will become much more expensive or even unavailable.
  • Additionally, increasing healthcare cost and economic slowdown in developed countries are also restraining the market’s growth.

    Some of the Top Key Players of Ophthalmology Drug and Device Market Report Are:

  • Alcon Inc.
  • Bausch & Lomb Inc.
  • Carl Zeiss Meditec AG
  • Essilor International SA
  • Haag
  • Streit Group
  • Johnson & Johnson
  • Nidek Co. Ltd
  • Topcon Corporation
  • Ziemer Ophthalmic Systems AG

    Report Highlights:

    • Market Dynamics – Drivers, Restraints, and Opportunities
    • Market Segmentation – Types, Applications, Regions, and Technology
    • Market Trends
    • Competitive Landscape
    • SWOT Analysis and Porter’s Five Forces Analysis

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    Key Market Trends:

    Cataract Surgery Devices are Expected to Hold a Significant Market Share in the Surgical Device Type

    According to the Royal College of Ophthalmologists, the United Kingdom, around 330,000 cataract operations are performed each year in England alone. It has been estimated that 30% of people aged 65 years or more have a visually impairing cataract in one or both eyes. Some populations tend to have a much higher prevalence of cataracts. For instance, 77% of the British people, aged 42 years or older, originating from the Indian subcontinent have cataracts. There is a threefold variation in the number of people having cataract surgery across England, owing to differences in health commissioning policies.
    Similarly, as stated by the American Academy of Ophthalmology, approximately 24.5 million people in the United States have cataracts, which is the leading cause of blindness in the United States. Cataract surgery remains the most effective way to help restore vision for these people with cataracts.

    North America Dominates the Market and Expected to do the Same during the Forecast Period

    Due to the presence of well-established healthcare facilities, the rise in geriatric population in the region, and certain other factors, North America dominates the ophthalmology drug and device market. Owing to the constant increase in the American elderly population, as well as a movement toward vision correction and its usage among key demographics, an absolute increase in usage rates for most types of eyewear was observed in the United States. Additionally, the government of Canada states that the average revenue of the small and medium-sized enterprises, primarily engaged in retailing and fitting prescription eyeglasses, was found to be USD 565.2 thousand, in 2016, whereas the profit was around 77-78%.

    The Report Covers:

    • Comprehensive research methodology of Ophthalmology Drug and Device market
    • In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
    • Analysis of regional regulations and other government policies impacting the global sleep aid market
    • Insights about market determinants which are stimulating the global Ophthalmology Drug and Device market
    • Detailed and extensive market segments with regional distribution of forecasted revenues
    • Extensive profiles and recent developments of market players Companies Mentioned

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    Detailed TOC of Ophthalmology Drug and Device Market Report 2020-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Market Drivers
    4.2.1 Demographic Shift and Impact of Prevalence of Eye Disease
    4.2.2 Technological Advancements in the Field of Ophthalmology
    4.2.3 Rising Geriatric Population
    4.3 Market Restraints
    4.3.1 Increasing Healthcare Costs
    4.3.2 Economic Slowdown in Developed Markets
    4.3.3 Strict FDA Guidelines for Drug Approval
    4.4 Porter’s Five Forces Analysis
    4.4.1 Threat of New Entrants
    4.4.2 Bargaining Power of Buyers/Consumers
    4.4.3 Bargaining Power of Suppliers
    4.4.4 Threat of Substitute Products
    4.4.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Device
    5.1.1 Surgical Device
    5.1.1.1 Glaucoma Surgery Devices
    5.1.1.2 Cataract Surgery Devices
    5.1.1.3 Refractive Surgery Devices
    5.1.1.4 Vitreoretinal Surgery Devices
    5.1.1.5 Other Surgical Devices
    5.1.2 Diagnostic and Monitoring Device
    5.1.2.1 Fundus Cameras
    5.1.2.2 Ophthalmoscopes
    5.1.2.3 Retinoscopes
    5.1.2.4 Keratometers
    5.1.2.5 Wavefront Aberrometers
    5.1.2.6 Tonometers
    5.1.2.7 Ophthalmic Ultrasound Imaging Systems
    5.1.2.8 Optical Coherence Tomography Scanners
    5.1.2.9 Visual Field Analyzers
    5.1.2.10 Slit Lamps
    5.1.2.11 Other Diagnostic and Monitoring Devices
    5.1.3 Vision Care
    5.1.3.1 Spectacles
    5.1.3.2 Contact Lens
    5.2 Drug
    5.2.1 Glaucoma Drugs
    5.2.2 Retinal Disorder Drugs
    5.2.3 Dry Eye Drugs
    5.2.4 Allergic Conjunctivitis and Inflammation Drugs
    5.2.5 Other Drugs
    5.3 Geography
    5.3.1 North America
    5.3.1.1 US
    5.3.1.2 Canada
    5.3.1.3 Mexico
    5.3.2 Europe
    5.3.2.1 Germany
    5.3.2.2 UK
    5.3.2.3 France
    5.3.2.4 Italy
    5.3.2.5 Spain
    5.3.2.6 Rest of Europe
    5.3.3 Asia-Pacific
    5.3.3.1 China
    5.3.3.2 Japan
    5.3.3.3 India
    5.3.3.4 Australia
    5.3.3.5 South Korea
    5.3.3.6 Rest of Asia-Pacific
    5.3.4 Middle East & Africa
    5.3.4.1 GCC
    5.3.4.2 South Africa
    5.3.4.3 Rest of Middle East & Africa
    5.3.5 South America
    5.3.5.1 Brazil
    5.3.5.2 Argentina
    5.3.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Alcon Inc.
    6.1.2 Bausch & Lomb Inc.
    6.1.3 Carl Zeiss Meditec AG
    6.1.4 Essilor International SA
    6.1.5 Haag-Streit Group
    6.1.6 Johnson & Johnson
    6.1.7 Nidek Co. Ltd
    6.1.8 Topcon Corporation
    6.1.9 Ziemer Ophthalmic Systems AG

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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