PUBLISHER: Grand View Research | PRODUCT CODE: 1574836
PUBLISHER: Grand View Research | PRODUCT CODE: 1574836
The global ophthalmic supply market size is anticipated to reach USD 22.6 billion by 2030 and is projected to grow at a CAGR of 4.75% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market encompasses a wide range of products and solutions designed for the diagnosis, treatment, and management of eye conditions.
The rise in eye disorders such as cataracts, glaucoma, and age-related macular degeneration significantly drives the market growth. According to the World Health Organization (WHO), approximately 2.2 billion people globally are affected by visual impairment. This alarming statistic underscores the urgent need for effective treatment options and medical supplies to address these conditions.
Addressing unmet patient needs is a crucial focus in the global market as the industry strives to improve outcomes for individuals with complex eye conditions. Innovations are driven by the need for more effective treatments for advanced glaucoma and rare retinal diseases. Companies are developing novel diagnostic tools and therapeutic solutions to address these gaps. For instance, in January 2022, Alcon acquired Ivantis, Inc., incorporating the Hydrus Microstent into its worldwide surgical product range.