The comprehensive “Europe Ophthalmology Market “report endows with statistics on the current state of the industry and hence works as a valuable source of guidance and direction for companies and investors interested in this market. To have finest market insights and knowhow of the most excellent market opportunities into the specific markets, this market research report is an ideal option. The report proves to be a thorough synopsis on the study, analysis and estimation of the market and how it is affecting the Healthcare industry. Besides, Europe Ophthalmology market report comprises of an extensive evaluation of the market’s growth prospects and restrictions.
The Europe 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 5.8% in the forecast period of 2023 to 2030 and is expected to reach USD 23,186.51 million by 2030, from USD 14,789.41 million in 2022.
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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).
Ophthalmology Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
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 Europe 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.
Some of the major players operating in this market are Alcon, Regeneron Pharmaceuticals Inc., Johnson Johnson, Inc., Reichert, 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.
Recent Developments
- 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. This development helps the organization in developing its brand image in the ophthalmology market, among others
- In May 2022, Reichert, Inc. has launched its redesigned refractometers analytical instruments website with a vastly improved user experience
Europe Ophthalmology Market Scope
The Europe ophthalmology market is segmented into products, disease, prescription mode, drug type, route of administration, end user, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Products
- Device
- Drugs
- Others
Diseases
- Glaucoma
- Cataract
- Age-Related Macular Degeneration
- Inflammatory Diseases
- Refractive Disorders
- Others
Prescription Mode
- Generic
- Branded
Drug Type
- Prescription
- Over the Counter (OTC)
Route of Administration
- Oral
- Topical
- Injectables
- Local Ocular
- Others
End User
- Hospitals
- Clinics
- Home Healthcare
- Others
Distribution Channel
- Direct Tender
- Retail Sales
- Others
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- A complete picture of the competitive scenario of the Europe Ophthalmology Market is depicted by this report.
- The wide range of research on how these innovations may affect market expansion in the future.
- The report's findings are presented in an approachable format, with accompanying visuals (such as histograms, bar graphs, pie charts, etc.) that make the data readily digestible.
- The potential, threats, and difficulties in the Europe Ophthalmology Market, as well as the factors driving and restraining it, are discussed at length.
- It gives an all-encompassing evaluation of the anticipated conduct of the future market and the changing market condition.
- This study provides a number of strategic business approaches to assist you in making educated business decisions.
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