Market Research Report
Global Ophthalmic Drug & Devices Market, Opportunity, Analysis, Market Shares And Forecast 2016 - 2022
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||370297|
|Published||Content info||140 Pages
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|Global Ophthalmic Drug & Devices Market, Opportunity, Analysis, Market Shares And Forecast 2016 - 2022|
|Published: September 9, 2016||Content info: 140 Pages||
Ophthalmic drugs are drugs and medicines for eye conditions and eye diseases. The ophthalmic drugs can be categorized into two broad categories, mainly prescribed drugs and over the counter (OTC) drugs. Many OTC drugs are used by the patients with various conditions pertaining to eye and eye diseases; and holds the largest market share in the ophthalmic drugs market. However, various side effects and severe consequences related to the usage of the over the counter medications is a major drawback for this segment. The market for global ophthalmic drugs market was valued around $17,290 million in the year 2015 and is projected to grow with a CAGR of around 7% during the forecast period of 2016-2022.
The global ophthalmic drugs market is set to display a stable growth during 2016-2022 period which is attributed to various influencing factors such as 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 who are more prone to age-related macular degeneration, it is characterized by loss of central vision. Also, the various pending regulatory approvals to new ophthalmic drugs that are expected to get approval by the end of the forecast period, along with the heightened sense of awareness among people, especially in the emerging economies are creating significant opportunities for the market. Moreover, rapid technological advancements and innovations resulting in combining drugs and device therapy, and various implants are being used to treat a wide array of eye related disorder. Some of these implants such as ODTx, MicroPump, transscleral and encapsulated cell therapy are expected to provide further boost to the ophthalmic drugs market. This, along with the growing healthcare expenditure by various economies across the globe are 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.
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' ophthalmic drugs. The hospitals segment is estimated to grow with the highest during 2016-2022, whereas the eye clinic segment is expected to have the fastest growth. On the basis of revenue, hospital care market has the highest market share, and homecare market is expected to have the fastest growth rate. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific and rest of the world. At present, North America has the largest 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. However, Asia Pacific market is expected to have the highest CAGR during the forecast period and it is driven by the strong markets of China and India.