Ophthalmology is the branch of medicine which deals with functions, structures and diseases of eyes. An ophthalmologist means a medical doctor who is specializes in vision and eye care. Ophthalmologists are trained to perform eye exams, prescribe medications, diagnose and treat disease, and perform eye surgery. Growth in number of eye diseases amongst the aging population has created a surge in the global ophthalmology market in the recent years. The global ophthalmology market had witnessed a decline during the economic downturn in 2009. However, the growth in aging population and large number of patients with eye diseases is anticipated to boost the demand for ophthalmology over the forecast period.
The main factorsdriving the ophthalmology market growthare dry eye drugs and retinal disorders. One of the major factors driving the ophthalmology market is the increase in number of patients with eye diseases due to the modern lifestyle and pollution. The growth of diseases such as cataract and glaucoma have boosted the ophthalmology market in the recent years. Development in ophthalmology devices such as femtosecond lasers and mydriatic, non-mydriatic fundus cameras will boost the growth of ophthalmology device market over the forecast period.Increased focus on combination therapies of drugs is expected to be one of the major trends in the global ophthalmology market. Additionally, the increasing demand for nominally invasive and complication-free operative surgeries is projected to surge the demand for ophthalmic devicesin the near future.
The ophthalmologymarket is classifiedon the basis ofproduct, indication and regions. On the basis ofproduct, the ophthalmologymarket is segmented into diagnostic and monitoring devices, surgical devices, vision care, and drugs. On the basis ofindication, the ophthalmologymarketis segmented into glaucoma, retinal disorders, dry eye, and allergy/inflammation/conjunctivitis.
The market for ophthalmologyis bifurcated based on five regions namely North America, Europe, Asia-Pacific, Latin America and Middle East. North America is expected to hold a major share in the global ophthalmologymarket and is anticipated to retain its dominance over the forecast period. This is mainly attributed to the growing technological advancements and presence of major players in the region. Asia Pacific is expected to show high growth rate owing to the growing industrialization and increasing government initiatives towards healthcare infrastructure is expected to be the major reason for rise in demand for ophthalmology over the forecast period.
Some of the major players operating in the global ophthalmologymarket include Allergan, Alcon, Merck, Roche, Pfizer, Santen Abbott Medical Optics, Alcon, Bausch & Lomb, Inc., Essilor, Carl Zeiss Meditec,Johnson& Johnson, Topcon and Nidek.Major players operating in the global market are focused on some of the major market strategies such as partnerships, mergers,collaborations and acquisitions to hold their position competitive global market. Likewise, they are engaged on gaining hold on the local players to support their product distributionand to develop their market reach in the global market.The acceptance of innovative marketing strategies by vendors, like online marketing tools, is anticipated to boost their revenue generation capacity during the forecast period.
The ophthalmology market is classified
On the basis of product
• Diagnostic and monitoring devices
• Surgical devices
• Vision care drugs
On the basis of indication
• Retinal disorders
• Dry eye
On the basis of region
• North America
• Latin America
• Middle East