Global Ophthalmology Drug & Devices Market insights, Opportunities, Analysis, Market Shares and Forecast 2017 – 2023
Global ophthalmology drug & devices market is estimated to rise with approx. 7% CAGR during forecast period 2016 – 2023. The global ophthalmology drugs and devices market owing to rising geriatric population and the rising prevalence of eye related disorders such as glaucoma and cataract are acting as a driver for the ophthalmology drug market and mounting its demand. Global ophthalmology drug & devices market is primarily driven by following factors:
- Rise in healthcare expenditure
- Increasing elderly population
- Technological advancement
- Innovation leading to development of new ophthalmology drugs
- Rising prevalence rate of eye diseases
The global ophthalmology drugs & device market is poised to display a healthy growth over the forecast period attributed to various influencing factors that are set to drive the market towards an exceptional growth path. Some of the factors are the mounting prevalence of eye diseases and eye related disorders such as glaucoma and cataract, along with the expanding pool of geriatric population across the globe. this, in addition to the various pending regulatory approvals to new ophthalmology drugs that are about to be given a green signal during the forecast period and the growing awareness among people, especially in the emerging economies are creating significant opportunities for the market. Moreover, rapid technological advancements resulting in combining drugs and device therapy that are being used to treat an extensive range of eye related disorder coupled with various innovation has given way to various implants such as ODTx, MicroPump, transscleral and Encapsulated cell therapy are expected to provide further boost to the ophthalmology drugs market. All these factors are further intensified with increasing healthcare expenditure by various economies across the globe which is expected to propel the growth of the market. However, factors such as expiration of patents, drying pipelines and major slowdowns in economies may hamper the market growth. Source: OBRC Analysis
The global ophthalmology drug & devices market segments include device, vision care, drug, type of disease, therapeutics and end-user. Device segment is sub segmented into:
Vision care is sub-segmented into:
- OPHTHALMOLOGY DIAGNOSTIC & MONITORING EQUIPMENT
- OPHTHALMOLOGY SURGERY DEVIC
Drug segment is sub-segmented into:
- CONTACT LENS SPECTACLES
- EYE EXAMS
Type of disease segment is sub-segmented into:
- PRESCRIPTION TYPE
- DRUG DELIVERY TYPES
Therapeutics segment is sub-segmented into:
- GLAUCOMA DRUG
- RETINAL DISORDER
- DRY EYE DRUG
- ALLERGIC CONJUNCTIVITIS, INFLAMMATION AND CONJUNCTIVITIS DRUGS
End-user segment is sub-segmented into:
- DIABETIC MACULAR EDEMA
- EYE CANCER
- DIABETIC RETINOPATHY
- RETINAL VEIN OCCLUSION
- AGE-RELATED MACULAR DEGENERATION
- DRY EYE
- EYE CLINICS
- DIAGNOSTIC CENTERS
The revenue for the above end-user segments are specific to the ophthalmology drug and device market. however, the total revenue of end-users in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up type and therapeutics segment.
Geographically, the global ophthalmology drug & devices market has been segmented on the basis of four major region, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North America being the largest market share of the total market share, followed by Europe and Asia Pacific. The North American market is driven by high awareness, greater availability of drugs due to presence of major players, and an elaborate regulatory framework. North America (US) due to increased initiatives to reduce blindness, as well as other related disorders amongst the geriatric population, Asia Pacific is expected to be one of the fastest growing markets for ophthalmology drugs in the world during the forecasted period, as the elderly population is more prone to suffer from eye related disorders due to age.
The demand for multispecialty hospitals has been rising significantly. Furthermore, governments in various countries are spending heavily to develop multispecialty hospitals and to improve the existing healthcare infrastructure. The rising public and private investment in hospitals is expected to create significant opportunities for the market. By end users, the market is segmented into various subtypes, viz. hospitals, eye clinics, diagnostic centers, and patients’ ophthalmology drugs. However, eye clinic segment is expected to have the fastest growth due to the rapid development of lightweight and compact respiratory care devices that are easier to operate. On the basis of revenue, hospital care market has the highest market share, and homecare market is expected to have the fastest growth rate.The major market players of the global ophthalmology drug and devices market are:
- ABBOT LABORATORIES
- ALLERGAN INC.
Detailed analysis of these companies provided in this report comprises: Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. Example, Bayer and DelSiTech partner to develop innovative drug delivery technology for ophthalmology in September 29, 2016. This partnership will support in innovative treatment options for a range of different eye diseases.
Allergan acquired ForSight VISION5 in 2016 for expanding its eye-care offerings.Why to buy the report:
This report will provide you:
How we are different from others:
- Provide you the business strategies adopted by market player such as Bayer and DelSiTech partner to develop innovative drug delivery technology for ophthalmology in September 29, 2016.
- Provide in detail the different segments such as by therapeutics, type and end-user of global ophthalmology drug & devices market.
- Provide you the patent analysis of the ophthalmology drug & devices market.
- Identify and understand the strength, opportunities, challenges and threat of the ophthalmology drug & devices market.
- Provide revenues of major players of the market such as ABOTT, Bayers and so on. .
- Provide you various the regulatory policies which are affecting the global ophthalmology drug & devices market.
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global ophthalmology drug & devices market offers the longest chain of market segmentation covering major market segmentation based on therapeutics, type and end-user. The report tracks the major market trends in the global ophthalmology drug & devices market such as high prevalence rate of eye diseases and increase in minimal invasive surgeries and so on. For each market segments covered in global ophthalmology drug & devices market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the ophthalmology drug & devices market industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, See Saw analysis, and Porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data. Key findings of the global ophthalmology drug & devices market.
- Increase in the eye disorder and increased FDA approvals are fueling growth in global ophthalmology drug & devices market.
- North America is anticipated to account the largest revenue share in 2016.
- Glaucoma has the largest market share in ophthalmology treatment segment.
- Increasing government support.
- Partnership is the key strategy adopted by the various market players of global ophthalmology drug & device market.
- Eye clinic segment of end-user segment is expected to have the fastest growth due to the rapid development of lightweight and compact respiratory care devices that are easier to operate.