The data collected in the “Global Ophthalmology Drugs and Devices Market – Segmented by Surgical devices, Drugs and Geography – Growth, Trends and Forecasts (2019 – 2023)” report (Sample Copy Here) offers detailed insights on the market dynamic forces to enable informed business decision making and development strategy formulation supported on the opportunities present in the market. Ophthalmology Drugs and Devices Market report delivers the most up-to-date industry data on the actual and potential market situation, and outlook.
The Global Ophthalmology Drugs and Devices Market 2019 is bifurcated into multiple segments [Product, Applications, End-Users, and Major Regions]. The global Ophthalmology Drugs and Devices Market report represents the market’s data in a better-analyzed way by fragmenting the market in several multiple segments product, its end-users, applications, and others of the market segments. A review of the impact of the administrative regulations and policies on the Ophthalmology Drugs and Devices Market operations is also included in this report. The Ophthalmology Drugs and Devices Market report offers a complete analysis of competitive dynamics that are modifying and places the patrons ahead of competitors.
Ophthalmology Drugs and Devices Market Segmentation by Major Players:
CARL ZEISS MEDITEC AG, ALCON INC., JOHNSON AND JOHNSON, TOPCON CORPORATION, NIDEK CO. LTD., HAAG-STREIT GROUP, ZIEMER OPHTHALMIC SYSTEMS AG, ESSILOR INTERNATIONAL S.A., BAUSCH & LOMB INC., amongst others.
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Overview of Ophthalmology Drugs and Devices Market Report:
Ophthalmology is a branch of medicine that deals with the anatomy, physiology, and diseases of the eye. An ophthalmologist is a specialist in medical and surgical eye problems, who performs 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. The global ophthalmology drug and device market is expected to register a CAGR of 5.3% during the forecast period of 2019-2023.
Growth in Cataract Volume
Cataract volume has registered a rapid increase in the 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. Cataract surgery is the most frequent surgical procedure performed in many countries and provides significant improvements in quality of life, to elderly population at low costs.
With an increase in the demand for ophthalmological devices, projecting future cataract surgery needs are vital for health human resource, hospital, and surgical center management and planning.
Other factors, such as availability of new drugs and devices and prevalence of eye disease are expected to drive the market over the forecast period.
Strict FDA Guidelines for Drug Approval
There are many regulations by agencies, such as the FDA, to ensure the safety and efficacy of products. Tighter regulations on the label contents are being seriously enforced, as there were frequent occurrences of violations.
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 would impose a beyond-use date for bevacizumab and other biologics of only five days, but it takes 14 days just to test the sterility of these drugs, which means 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.
North America to Dominate the Market
The ophthalmology drug and device market has been segmented by surgical device, drug, and geography. By surgical device, the market has been segmented into glaucoma surgery devices, cataract surgery devices, refractive surgery devices, vitreoretinal surgery devices, and diagnostic & monitoring devices. By drug, the market has been segmented into anti glaucoma drugs, ophthalmology infection drugs, ophthalmology inflammation drugs, ophthalmology lubricants, mydriasis drugs, and ophthalmology swelling. By geography, the market has been segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
Due to the presence of well-established healthcare facilities and the rise in geriatric population in the region, North America dominates the ophthalmology drug and device market.
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Further, in the Ophthalmology Drugs and Devices Market research reports, the following points are included along with an in-depth study of each point:
Production Analysis – Production of the Ophthalmology Drugs and Devices is analyzed with respect to different regions, types, and applications. Here, price analysis of various Ophthalmology Drugs and Devices Market key companies is also covered.
Competitors – In this section, various Ophthalmology Drugs and Devices industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the Ophthalmology Drugs and Devices Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
Supply and Consumption – In continuation with sales, this section studies supply and consumption for the Ophthalmology Drugs and Devices Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
Other analyses – Apart from the above-mentioned information, trade and distribution analysis for the Ophthalmology Drugs and Devices Market, the contact information of major manufacturers, suppliers and key consumers is also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.
Lastly, with a team of vivacious industry professionals, we offer our clients with high-value market research that, in turn, would aid them to decipher new market avenues together with new strategies to take hold of the market share.