Ophthalmology Drug and Device Market 2021 Research and Clinical Analysis – Inc., Carl Zeiss Meditec AG, Essilor International SA, Haag-Streit Group, Johnson & Johnson

Europe Ophthalmology Drug and Device Market - Growth, Trends, and Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Ophthalmology Drug and Device Market on the basis of stating current situation of the industry in 2021. This is a latest report, covering the Post COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. It offers critical information pertaining to the current and future growth of the market.

The European ophthalmology drug and device market is expected to register a CAGR of 5.3% during the forecast period.

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Competitive Landscape

The market studied is moderately competitive and most of the companies in this market are international players. The major players in the ophthalmology drug and device market are Alcon Inc, Bausch Health Companies Inc., Carl Zeiss Meditec AG, Essilor International SA, Haag-Streit Group, Johnson & Johnson, Nidek Co. Ltd, Topcon Corporation, and Ziemer Group AG.

Certain factors that are driving the growth of the market include the growing prevalence of eye disease, technological advancements in the field of ophthalmology, and rising geriatric population. According to Eurostat, cataract surgery is one of the most common surgical operations in Europe. This procedure was conducted more than 4.7 million times in 2017, and it is increasing each year. The increasing rate of cataract surgeries has had a high impact on the ophthalmic market, resulting in high demand for cataract surgery equipment and drugs. After 2012, the numbers have been steadily increasing, because of more people opting for cataract surgeries. This has contributed to the rise in demand for various cataract-related devices and drugs.

- The European ophthalmology drug and device market is expected to witness significant growth in the forthcoming years, as multiple manufacturers are increasingly focusing on R&D to develop innovative treatments. The regional players are engaging in extensive R&D activities to develop novel ophthalmic drugs for the treatment of various eye diseases and disorders and to gain a greater market share.

- In addition, a large number of eye problems, availability of new and advanced devices, and patient preference for non-invasive treatment are also expected to drive the market in the future. Drug delivery systems in ophthalmic therapy undergone major technological advancements in the recent years, which likely to stimulate the growth of the studied market. However, high risk associated with eye surgery and stringent regulations may hamper the growth of the market.

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Key Market Trends: 

Cataract Segment is Expected to Hold a Significant Market Share in the Forecast Period

Based on disease, the market is segmented into glaucoma, cataract, age-related macular degeneration, inflammatory diseases, refractive disorders, and other diseases.

In 2019, the cataract segment dominated the European ophthalmic drugs and device market, due to the growing number of cataract removal surgeries taking place across the world. Cataract is a common problem among the geriatric population, and it may lead to blindness, if not given immediate medical attention. According to the Institute for Health Metrics and Evaluation, cataracts affect more than 13.3 million European age 40 and older. By the age of 75, approximately half of all European have cataracts.

Technological advancements and rising strategic collaborations are some of the other factors anticipated to propel the market for retinal disorder treatment. For instance, the World Health Organization (WHO) and the International Agency for the Prevention of Blindness launched the Vision 2020: The Right to Sight in 1999 as a collaborative global initiative with the aim of eliminating avoidable blindness by 2020. As a result of these factors, cataract is expected to drive the demand for drugs and devices during the study period.

The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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