
Ophthalmology Market by Diseases (Age-Related Macular Degeneration, Cataract, Glaucoma), Product Type (Drugs, Equipment, Prescription Glasses & Lens), End User - Global Forecast 2024-2030
Description
Ophthalmology Market by Diseases (Age-Related Macular Degeneration, Cataract, Glaucoma), Product Type (Drugs, Equipment, Prescription Glasses & Lens), End User - Global Forecast 2024-2030
The Ophthalmology Market size was estimated at USD 59.90 billion in 2023 and expected to reach USD 63.89 billion in 2024, at a CAGR 6.64% to reach USD 93.99 billion by 2030.
Ophthalmology includes the study of medicines & surgeries dealing with the diagnosing and treating of eye disorders. Over the last few years, many significant developments in ophthalmology have been observed for cataract, refractive, and glaucoma surgeries. An increase in the well-equipped healthcare infrastructure and drug approvals strongly contribute to the market. Moreover, the rising prevalence of eye disorders and growing awareness among the worldwide population are driving the market growth. Furthermore, the high cost of ophthalmologic treatments due to the increasing prices of ophthalmologic treatment devices and technological advances may limit the market growth. Emerging research and development activities of ophthalmology treatments are supported by huge investments, prospering the market. Additionally, ongoing technological advancement and integration of artificial intelligence for early eye disease detection create lucrative market opportunities.
Regional Insights
The utilization of ophthalmology treatment and diagnostics worldwide, including in the U.S., Canada, China, India, Germany, and others, is evolving rapidly with improving accessibility to ophthalmology care facilities and the growing availability of innovative devices and treatments offered by prominent manufacturers. The increasing utilization of smartphones, laptops, tablets, and other similar devices with changing lifestyles and busy work cultures among the younger population has increased the burden of refractive disorders in developing and developed economies. Furthermore, manufacturers from several countries, including China, Indonesia, Japan, and South Korea, are consistently producing unique eyeglasses that complement the regional population, significantly shaping the ophthalmology market space in the Asia-Pacific region. Moreover, with surging research activities and tremendous technological advancements undertaken by medical institutes and well-established market players, and integration of advanced technologies such as artificial intelligence is expected to increase the use of ophthalmologic products to treat and correct vision impairment across economies in the coming years.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Ophthalmology Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Rising prevalence of eye disorders and growing awareness among the population
- Increasing adoption of prescription glasses and lenses
- Presence of well-equipped healthcare infrastructure and increasing number of drugs approvals
- Market Restraints
- High cost of ophthalmologic treatments
- Market Opportunities
- Emerging research activities of ophthalmology treatments and availability of grants
- High usage potential owing to the technological integrations in Ophthalmology
- Market Challenges
- Limited skilled professionals for ophthalmic procedures
- Market Segmentation Analysis
- Diseases: proliferation of age-related macular degeneration disease resulting in progressive loss of central vision
- End User: Increasing contribution of Hospitals providing various services ranging from basic ophthalmic evaluations to complex surgical interventions
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Ophthalmology Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Ophthalmology Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Alkeus Announces USD 150 million Series B Financing,
Alkeus Pharmaceuticals, a player in the development of treatments for retinal diseases, has announced a successful Series B financing round totaling USD 150 million. The capital is expected to be used to fund the registration path of Alkeus' drug candidate Alk-001 (gildeuretinol) for treating Stargardt disease. With this large investment, Alkeus can go further with its research and development efforts in the field of ophthalmology and provide greater access to treatments that can have life-changing outcomes for patients suffering from Stargardt disease.
HOYA Vision launches MiYOSMART Sun lenses to protect against myopia in children
Hoya Vision released their MiYOSMART Sun lenses, a new innovation that can help to protect children against myopia. The lenses combine both style and functionality with a built-in blue light filter, UV protection, and even an AI-powered app that can monitor the wearer’s usage and provide feedback on how to best maintain proper eye health. This is the latest advancement in providing safe, effective eye care for children.
Curative Biotechnology files patent on ophthalmic formulation
Curative Biotechnology is making an impact in the field of ophthalmology with its new patent for an ophthalmic formulation. The patented product has the potential to revolutionize the diagnosis and treatment of a variety of eye conditions while providing a long-lasting, effective solution for patients. Curative Biotechnology is leveraging its expertise in biotechnology to develop and bring this innovative product to market, paving the way for improved patient care.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Ophthalmology Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Ophthalmology Market, highlighting leading vendors and their innovative profiles. These include AbbVie Inc., Alcon Inc., Alkeus Pharmaceuticals, Inc., Apotex Inc., Bausch + Lomb Corporation, C.H. Boehringer Sohn AG & Co. KG, Carl Zeiss AG, ClearSight, CooperVision, Inc., Duopharma Consumer Healthcare Sdn Bhd, Essex Bio-Technology Limited, EssilorLuxottica S.A., Eyenovia, Inc., F. Hoffmann-La Roche AG, GenSight Biologics S.A., Geri-Care Pharmaceuticals Corp., Glaukos Corporation, Halma PLC, Harrow Health, Inc., Honeywell International Inc., Hoya Corporation, Johnson & Johnson Services Inc., Kubota Pharmaceutical Holdings Co., Ltd., Lumenis Be Ltd., Nidek Co., Ltd., Novartis AG, OCuSOFT, Inc., Oxurion NV, Pfizer, Inc., PharmOptima LLC, Santen Pharmaceutical Co., Ltd., SEED Co., Ltd., Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Topcon Corporation, Unimed Pharma, Spols r.o., and Visioncare Optolab Pvt. Ltd..
Market Segmentation & Coverage
This research report categorizes the Ophthalmology Market to forecast the revenues and analyze trends in each of the following sub-markets:- Diseases
- Age-Related Macular Degeneration
- Cataract
- Glaucoma
- Inflammatory Diseases
- Refractive Disorders
- Product Type
- Drugs
- Allergic Conjunctivitis & Inflammation Drugs
- Dry Eye Drugs
- Glaucoma Drugs
- Retinal Disorder Drugs
- Equipment
- Diagnostic Devices
- Surgical Devices
- Intraocular Lenses
- Ophthalmic Lasers
- Prescription Glasses & Lens
- Software
- End User
- Healthcare Service Providers
- Hospitals
- Medical Institutes
- Research Organizations
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Drugs
- Market Drivers
Table of Contents
190 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Rising prevalence of eye disorders and growing awareness among the population
- 5.1.1.2. Increasing adoption of prescription glasses and lenses
- 5.1.1.3. Presence of well-equipped healthcare infrastructure and increasing number of drugs approvals
- 5.1.2. Restraints
- 5.1.2.1. High cost of ophthalmologic treatments
- 5.1.3. Opportunities
- 5.1.3.1. Emerging research activities of ophthalmology treatments and availability of grants
- 5.1.3.2. High usage potential owing to the technological integrations in Ophthalmology
- 5.1.4. Challenges
- 5.1.4.1. Limited skilled professionals for ophthalmic procedures
- 5.2. Market Segmentation Analysis
- 5.2.1. Diseases: proliferation of age-related macular degeneration disease resulting in progressive loss of central vision
- 5.2.2. End User: Increasing contribution of Hospitals providing various services ranging from basic ophthalmic evaluations to complex surgical interventions
- 5.3. Market Trend Analysis
- 5.3.1. Emergence of telehealth and expansion of ophthalmology care across Americas
- 5.3.2. Start-ups focusing on developing ophthalmology drugs with increasing need due to prevalence of blindness & vision impairment in Asia-Pacific
- 5.3.3. Surging research activities and continuous technological advancements in ophthalmology therapeutics in EMEA
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Ophthalmology Market, by Diseases
- 6.1. Introduction
- 6.2. Age-Related Macular Degeneration
- 6.3. Cataract
- 6.4. Glaucoma
- 6.5. Inflammatory Diseases
- 6.6. Refractive Disorders
- 7. Ophthalmology Market, by Product Type
- 7.1. Introduction
- 7.2. Drugs
- 7.3. Equipment
- 7.4. Prescription Glasses & Lens
- 7.5. Software
- 8. Ophthalmology Market, by End User
- 8.1. Introduction
- 8.2. Healthcare Service Providers
- 8.3. Hospitals
- 8.4. Medical Institutes
- 8.5. Research Organizations
- 9. Americas Ophthalmology Market
- 9.1. Introduction
- 9.2. Argentina
- 9.3. Brazil
- 9.4. Canada
- 9.5. Mexico
- 9.6. United States
- 10. Asia-Pacific Ophthalmology Market
- 10.1. Introduction
- 10.2. Australia
- 10.3. China
- 10.4. India
- 10.5. Indonesia
- 10.6. Japan
- 10.7. Malaysia
- 10.8. Philippines
- 10.9. Singapore
- 10.10. South Korea
- 10.11. Taiwan
- 10.12. Thailand
- 10.13. Vietnam
- 11. Europe, Middle East & Africa Ophthalmology Market
- 11.1. Introduction
- 11.2. Denmark
- 11.3. Egypt
- 11.4. Finland
- 11.5. France
- 11.6. Germany
- 11.7. Israel
- 11.8. Italy
- 11.9. Netherlands
- 11.10. Nigeria
- 11.11. Norway
- 11.12. Poland
- 11.13. Qatar
- 11.14. Russia
- 11.15. Saudi Arabia
- 11.16. South Africa
- 11.17. Spain
- 11.18. Sweden
- 11.19. Switzerland
- 11.20. Turkey
- 11.21. United Arab Emirates
- 11.22. United Kingdom
- 12. Competitive Landscape
- 12.1. Market Share Analysis, 2023
- 12.2. FPNV Positioning Matrix, 2023
- 12.3. Competitive Scenario Analysis
- 12.3.1. Alkeus Announces USD 150 million Series B Financing,
- 12.3.2. HOYA Vision launches MiYOSMART Sun lenses to protect against myopia in children
- 12.3.3. Curative Biotechnology files patent on ophthalmic formulation
- 12.3.4. AI-based eye disease detection startup, Eyetelligence raises USD 12 million USD from investors
- 12.3.5. Eyenovia Announces Fda Approval Of Mydcombi, The First Ophthalmic Spray For Mydriasis, Which Also Leverages The Company’s Proprietary Optejet Device Platform
- 12.3.6. Astellas reaches agreement to acquire Iveric Bio for USD 5.9 billion
- 12.3.7. Bausch + Lomb Announces U.S. Launch of StableVisc Cohesive Ophthalmic Viscosurgical Device and TotalVisc Viscoelastic System
- 12.3.8. NIDEK launches the NT-1/1e Non Contact Tonometer
- 12.3.9. Celanese Announces Agreement with Glaukos Corporation for Sustained Release Glaucoma Treatment
- 12.3.10. Théa Open Innovation and Galimedix announce strategic to develop and commercialize products
- 12.3.11. Grifols enters agreement with Selagine to develop immunoglobulin eye drops to treat dry eye disease
- 12.3.12. Topcon Healthcare and OphtAI Announce their Partnership in EMEA
- 12.3.13. Eyenovia and Formosa partner for new ophthalmic therapeutics
- 12.3.14. Viatris Forms Eye Care Unit from Acquisitions of Oyster Point Pharma and Famy Life Sciences
- 13. Competitive Portfolio
- 13.1. Key Company Profiles
- 13.2. Key Product Portfolio
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.