Ectropion Market 2023 Top Key Players are InSite Vision Incorporated, NovaBay Pharmaceuticals, Inc., Scope Ophthalmics Ltd, Thea Pharmaceuticals Limited

Market Research Future has recently added another market study to its extensive research portfolio, titled “Ectropion Market Research Report - Forecast to 2023”. The report offers intelligent insights and uses thorough examination of market factors to gauge market size and development.

Market Scenario

Ectropion is an ophthalmologic disorder which causes abnormal outward turning of the eyelid. It usually involves lower eyelid. It is a common eye disorder among the older population and in people who have undergone eye surgeries or any eye infection. Additionally, factors such as trauma, birth defects, Bell’s palsy, and Floppy eyelid syndrome are likely to drive the growth of ectropion market.

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The Global Ectropion Market is expected to grow at a CAGR of 6.5% during the forecast period.

The Global Ectropion Market is majorly driven by the increasing prevalence of ophthalmological disorders and related eye surgeries. Additionally, the increasing global population, growing government initiatives, increasing demand for advanced treatment, and growing market players offering newer products for the treatment of ectropion are likely to drive the market. Similarly, the involvement of leading players in new product developments and upgrading their existing products to boost their product portfolio are boosting the growth of the Global Ectropion Market.

For instance, WHO estimated that over 285 million people were visually impaired in 2014 and approximately 24.4 million Americans aged 40 had a cataract. Similarly, according to the reports published by the United Kingdom Statistics Authority, in 2015, around 15,900 people were registered as visually impaired. This increasing prevalence of ophthalmological disorders is likely to enhance the growth of the Global Ectropion Market.

Key Players

Some of the key players in the Ectropion Market are InSite Vision Incorporated, NovaBay Pharmaceuticals, Inc., Scope Ophthalmics Ltd, Thea Pharmaceuticals Limited, Perrigo Laboratories, Merck & Co., Gelderma S.A., and Novartis AG.

Segments

The global Ectropion Market is segmented on the basis of type, treatment, diagnosis, and end-user.

On the basis of type, the market is segmented into involutional ectropion, paralytic ectropion, cicatricial ectropion, mechanical ectropion, and congenital ectropion.

On the basis of treatment, the market is segmented into eye drops, artificial tears, horizontal taping of the eyelid, and surgery.

On the basis of diagnosis, the market is segmented into physical examination, eye examination, and others.

On the basis of end-user, the market is segmented into specialty centers, hospitals, and others.

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Regional Analysis

The North American Ectropion market is a growing market. On a regional basis, the Americas region is segmented into North America and South America. North America is segmented into the U.S. and Canada. The increasing incidence of eye disorders, along with the increasing awareness among population regarding eye care is likely to drive the market. Additionally, growing aging population and growing healthcare expenditure with rising involvement of leading players in new product developments and the rising government support are likely to enhance the growth of the Ectropion market in North America. For instance, according to the Centers for Medicare & Medicaid Services, in 2015, the U.S. healthcare spending increased by 5.8% reaching USD 3.2 trillion.

Europe is the second largest market and holds a healthy share in the Global Ectropion Market. The European market is expected to grow at a healthy CAGR during the forecast period owing to the large pool of market players offering innovative products and increasing skilled medical professionals along with the growing demand for better and advanced healthcare infrastructure. For instance, according to the Organization for Economic Co-operation and Development (OECD), the healthcare expenditure in Germany was EUR 321 billion in 2014.This growing healthcare expenditure is driving the Ectropion Market in Europe.

Asia Pacific is expected to be the fastest growing market. The increasing population is eventually leading to the rising patient population and rising prevalence of eye disorders. China is the fastest growing region owing to an increasingly older population. The increasing awareness about the health and the growing demand for healthcare facilities in emerging economies drive the market in this region. The rising healthcare expenditure and the rise in awareness among the masses are driving the growth of the Ectropion Market in the Asia Pacific region.

The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness and limited treatment facilities. In the Middle East, the United Arab Emirates is the largest market owing to the development of the healthcare industry and the rising demand for advanced specialty centers.

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