Global Ophthalmology Therapeutics Market is expected to reach $31.87 billion by 2021 | Market Data Forecast

The Global Ophthalmology Therapeutics Market was worth $22.3 billion in 2016 and estimated to be growing at a CAGR of 7.4%, to reach $31.87 billion by 2021. The market is showcasing evident potential in the mentioned forecasting period. Ophthalmology is the branch of medicine associated with the treatment of eye defects and diseases. With the recent advancements in genetics and stem cell biology, the mechanisms of many ophthalmic diseases are being revealed progressively.

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Global market for Ophthalmology Therapeutics is driven by the growing prevalence for vision impairment, which was estimated to be 147 million in 2010, and is estimated to reach 191 million in the world in 2020. Technological advancement in the field of medicine are also playing a major role in the growth of the market. Increasing geriatric population around the globe along with rise in disposable income are some of the other factors driving the market for Ophthalmology Therapeutics Market. However, lack of awareness about the various diseases associated with ophthalmology is a major factor restraining the growth of the market. Stringent regulatory framework and unclear reimbursement policies are also acting as hurdles for market growth.

The Global market for Ophthalmology Therapeutics is broadly categorized into Indication and End User. On the basis of indication global Ophthalmology Therapeutics market is segmented into Glaucoma, Dry Eye Syndrome, Diabetic Retinopathy, Retinal Vein Occlusion, Age-related Macular Degeneration, Macular Edema and Allergic Conjunctivitis. Glaucoma is the largest indication segment accounting for a share of approximately 31% followed by AMD with a share of 27%. Based on end User the market is segmented into Hospitals, Eye Clinics, Diagnostic Centres and Patients.

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On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East. North America is the dominating market for Ophthalmology Therapeutics accounting for a share of approximately xx% followed by Europe. Asia-Pacific is estimated to be the fastest growing region with a CAGR of xx% during the forecast period of 2016-2021.

Pfizer Inc., Allergan Inc., Alcon Inc., Merck & co. Inc. and Roche are the major companies in the market accounting for a share of approximately 70%. Other major companies covered in the report are Valeant, Regeneron, Santen, Bayer, Senju, Lpath and Eye Gate Pharmaceuticals

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