Data Bridge Market Research has recently added concise research on the Ophthalmology Market report to depict valuable insights related to significant market trends driving the industry. The Ophthalmology Market report makes available the basic information about industry, definition, classification, application, industry chain structure, industry overview and market analysis. This market document provides the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, market demand and supply scenarios. It also gives widespread study about different market segments and regions. The Ophthalmology Market global key manufacturers, to define, describe and analyze the market competition landscape with the help of SWOT analysis. 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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Recent Developments
The ophthalmology market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to a favourable market scenario.
Some of the major players dealing in the global ophthalmology market are introducing a strong range of products provider along with launching new services and adopting strategic initiatives such as acquisition, agreement, business expansion, awards and recognition into the market. This helped companies to maximize sales with an enhanced service portfolio.
For instances,
- 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
- In May 2022, Alcon announced the acquisition of EYSUVIS (loteprednol etabonate suspension) pharmaceutical eye drop from Kala Pharmaceuticals, Inc. The acquisition will complement the company’s Systane family of eye drops which includes preservative-free formulations, among others
- In January 2022, Alcon announced the launch of Systane complete preservative-free lubricant eye drops in Europe. The product provides all-in-one dry eye relief with one drop by hydrating the layers of the tear film
Competitive Landscape and Global Ophthalmology Market Share Analysis
The ophthalmology market competitive landscape provides details by the competitors. Details include company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies focus on the Global Ophthalmology market.
Some of the major players operating in this market are Alcon, Regeneron Pharmaceuticals Inc., Johnson & Johnson, Inc., Novartis AG, Bausch & Lomb Incorporated, HOYA Corporation., The Cooper Companies Inc., Santen Pharmaceutical Co., Ltd., F. Hoffmann-La Roche Ltd, Carl Zeiss Meditec AG, AbbVie Inc., EssilorLuxottica, NIDEK CO., LTD., TOPCON CORPORATION, Glaukos Corporation., STAAR SURGICAL, Metall Zug AG, Sun Pharmaceutical Industries Ltd., Lumenis Be Ltd., Pfizer Inc., and Ziemer Ophthalmic Systems AG, among others.
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).
Key Pointers in TOC of Ophthalmology Market Report:
Sections 1: Definition, Specifications and Classification of Ophthalmology, Applications of Ophthalmology, Market Segment by Regions
Sections 2: Technical Data and Manufacturing Analysis of Ophthalmology, Capacity and R&D Status and Technology Source, Raw Materials Sources Analysis
Sections 3: Market Analysis, Sales Examination, sales Value Investigation
Sections 4: Regional Market Investigation that incorporates North America, Europe, Asia Pacific, Latin America, Middle East & Africa Market Examination
Sections 5: The Ophthalmology Segment Market Analysis (by Application), Major Manufacturers Analysis of Ophthalmology
Sections 6: Market Trend Analysis, Regional Market Trend, Market Trend by Product Type
Sections 7: Regional Promoting Type Investigation, Inventory network Investigation
Sections 8: The Customers Examination of global Ophthalmology Market
Sections 9: Ophthalmology Research Findings and Conclusion, Appendix, and information source
Sections 10: Ophthalmology deals channel, wholesalers, merchants, traders, Exploration Discoveries and End, appendix and data source.
Continued.....
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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.
Hence, such traumatic injuries lead to optic nerve disorders, which are affecting the population in these years and it is increasing with the rising population. Therefore, a rise in traumatic injuries is expected to drive market growth.
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Profound Questions Answered in this Report:
- What was the size of the emerging Ophthalmology market opportunities, market risk and market overview by value in 2023?
- What factors are affecting the strength of competition in the emerging Ophthalmology market?
- How large is the emerging Ophthalmology market in relation to its regional counterparts?
- What are the developments in the global market and forecast of market size up to 2030?
- What will be the share of the emerging Ophthalmology market in 2030?
- What is the Ophthalmology Market size in different countries around the world?
- Are the markets growing or decreasing and company profile including analysis of product portfolio, revenue, SWOT analysis and latest developments of the company?
- How are the market opportunities and threats faced by the vendors in the Ophthalmology industry?
- How are different product groups developing?
- Who are the distributors, traders and dealers of Ophthalmology market?
- How are the markets forecast to develop in the future?
A skilled team conducts systematic, object-oriented and absolute market research study to present the facts associated with subject in the field of market via this Ophthalmology report. Competitor analysis is another most significant part of this report with which businesses can estimate or analyse the strengths and weaknesses of the competitors and gain competitive benefits. The report analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects. Being a top-notch and comprehensive in nature, Ophthalmology market research report gives better insights about different market segments on which businesses are highly dependent to thrive in the market.
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