Ophthalmology Drug and Device Market by Product (Devices and Drugs), Disease (Glaucoma, Cataract, Age-related Macular Degeneration, Inflammatory Diseases, Refractive Disorders, and Others), and Geography (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The ophthalmology drug and device market size is projected to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing incidence of eye diseases such as presbyopia and macular degeneration.
Ophthalmology drugs and devices are widely utilized in the treatment and cure of eye diseases. The market for ophthalmology medications and devices refers to the market for devices and drugs used to treat a variety of ophthalmology disorders such as astigmatism, near-sightedness, cataract, diabetic retinopathy, glaucoma, and uveitis. OCT scanners, ophthalmology ultrasound imaging systems, fundus cameras, ophthalmoscopes, retinoscopes, and other diagnostic and monitoring equipment are among the most common ophthalmology drugs and devices. Contact lenses, such as single-day usage contact lenses and bi-weekly usage contact lenses, and eyeglasses, such as single vision eyeglasses, bifocal eyeglasses, and progressive eyeglasses, are all part of the vision care industry. Several drugs for the treatment of ophthalmology illnesses are already available in the market, including glaucoma drugs, dry eye drugs, allergic conjunctivitis drugs, and inflammation and conjunctivitis retinal dysfunction therapy pharmaceuticals.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing incidence of eye disease and demographic changes are projected to fuel the market during the forecast period.
- Growing elderly population is key factor propelling the market in the coming years.
- Ventilation of the ophthalmic medication pipeline is estimated to hamper the market expansion.
- Lack of awareness about disease act as major challenge that can restrict the market expansion in the coming years.
- R&D investment and technological advancement is anticipated to create lucrative opportunities for the market players.
Scope of the Report
The report on the ophthalmology drug and device market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Ophthalmology Drug and Device Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Product (Devices and Drugs), Disease (Glaucoma, Cataract, Age-related Macular Degeneration, Inflammatory Diseases, Refractive Disorders, and Others) |
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Geographical Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Topcon Corporation; Johnson & Johnson; Alcon Inc.; Bausch Health; Carl Zeiss Meditec AG |
Market Segment Insights
The diagnostics devices segment is projected to hold a major market share
Based on product, the ophthalmology drug and device market is bifurcated into devices and drugs. The diagnostics devices segment is expected to represent a key share of the market during the forecast period owing to increasing number of patients. An ophthalmic device is a device that is used in optometry and ophthalmology to serve a medical function. These devices vary from non-invasive diagnostic equipment and tools to invasive devices like contact lenses and implantable devices like intraocular lenses and glaucoma stents. As a result, the requirement for early diagnosis and treatment of common eye diseases like as cataracts, amblyopia, and glaucoma has risen dramatically in recent years.
The glaucoma segment is expected to grow at a rapid pace
In terms of disease, the ophthalmology drug and device market is segregated into glaucoma, cataract, age-related macular degeneration, inflammatory diseases, refractive disorders, and others. The glaucoma segment is expected to represent a key share of the market during the forecast period. One of the most prevalent causes of visual loss or blindness is glaucoma. The incidence of glaucoma is projected to rise in the near future as the population ages.
Glaucoma had an overall incidence rate of 5.9 per 1,000 people. The female population had a 14 % greater frequency of glaucoma diagnoses than the male.
Primary open-angle glaucoma is a major public health issue in Europe, and demand for devices is expected to rise during the forecast period.
North America is expected to dominate the market
On the basis of geography, the ophthalmology drug and device market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during the forecast period. Growth of the market is attributed to the existence of well-established healthcare facilities, growing elderly population, and presence of major players in the region. The US is determined to have a significant proportion of the ophthalmology diagnostics market in the North American. The senior population is growing, making them more vulnerable to eye problems.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Ophthalmology Drug and Device Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Ophthalmology Drug and Device Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Ophthalmology Drug and Device Market - Supply Chain
4.5. Global Ophthalmology Drug and Device Market Forecast
4.5.1. Ophthalmology Drug and Device Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Ophthalmology Drug and Device Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Ophthalmology Drug and Device Market Absolute $ Opportunity
5. Global Ophthalmology Drug and Device Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Ophthalmology Drug and Device Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
6. North America Ophthalmology Drug and Device Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Ophthalmology Drug and Device Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
7. Latin America Ophthalmology Drug and Device Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Ophthalmology Drug and Device Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
8. Europe Ophthalmology Drug and Device Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Ophthalmology Drug and Device Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
9. Asia Pacific Ophthalmology Drug and Device Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Ophthalmology Drug and Device Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
10. Middle East & Africa Ophthalmology Drug and Device Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Ophthalmology Drug and Device Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Ophthalmology Drug and Device Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Ophthalmology Drug and Device Market: Market Share Analysis
11.2. Ophthalmology Drug and Device Distributors and Customers
11.3. Ophthalmology Drug and Device Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Topcon Corporation
11.4.2. Johnson & Johnson
11.4.3. Alcon Inc.
11.4.4. Bausch Health
11.4.5. Carl Zeiss Meditec AG.
Segments Covered in the Report
The ophthalmology drug and device market has been segmented on the basis of
Product
- Devices
- Drugs
Disease
- Glaucoma
- Cataract Age-related Macular Degeneration
- Inflammatory Diseases
- Refractive Disorders
- Others
Geography
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Topcon Corporation
- Johnson & Johnson
- Alcon Inc.
- Bausch Health
- Carl Zeiss Meditec AG.
Key players competing in the ophthalmology drug and device market include Topcon Corporation, Johnson & Johnson, Alcon Inc., Bausch Health, and Carl Zeiss Meditec AG.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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