Ophthalmology Market by Diseases, Product Type, End User

List of Tables

[189 Pages Report] The Ophthalmology Market size was estimated at USD 59.90 billion in 2023 and expected to reach USD 63.89 billion in 2024, at a CAGR 6.64% to reach USD 93.99 billion by 2030.

Ophthalmology includes the study of medicines & surgeries dealing with the diagnosing and treating of eye disorders. Over the last few years, many significant developments in ophthalmology have been observed for cataract, refractive, and glaucoma surgeries. An increase in the well-equipped healthcare infrastructure and drug approvals strongly contribute to the market. Moreover, the rising prevalence of eye disorders and growing awareness among the worldwide population are driving the market growth. Furthermore, the high cost of ophthalmologic treatments due to the increasing prices of ophthalmologic treatment devices and technological advances may limit the market growth. Emerging research and development activities of ophthalmology treatments are supported by huge investments, prospering the market. Additionally, ongoing technological advancement and integration of artificial intelligence for early eye disease detection create lucrative market opportunities.

KEY MARKET STATISTICS
Base Year [2023]	USD 59.90 billion
Estimated Year [2024]	USD 63.89 billion
Forecast Year [2030]	USD 93.99 billion
CAGR (%)	6.64%

Diseases: proliferation of age-related macular degeneration disease resulting in progressive loss of central vision

Age-related macular degeneration (AMD) is the most occurring condition primarily affecting older adults, leading to a progressive loss of central vision. This condition is categorized into dry (non-neovascular) and wet (neovascular) forms. The dry form is characterized by the accumulation of drusen in the macula, while the wet form involves neovascularization, causing rapid vision loss. Risk factors include age, genetics, smoking, and lifestyle. Recent advancements in anti-VEGF therapy have significantly improved treatment outcomes for wet AMD. A cataract represents clouding of the eye's natural lens, resulting in decrease in vision quality. It is most commonly related to aging resulting from trauma, radiation exposure, and certain genetic factors. Symptoms include blurred vision, difficulty with bright lights, and faded colors. The most primary treatment for cataracts is surgical removal of the clouded lens and replaced by an artificial lens implant. With technological advances, cataract surgery has become highly effective and offers improved quality of life.

Glaucoma represents a group of eye conditions that damage the optic nerves, crucial for good vision, often due to abnormally high pressure in the eye. It is one of the main causes of blindness for people over the age of 60. Types include open-angle and angle-closure glaucoma. Early detection through regular eye exams is important as the condition can progress unnoticed until significant vision loss occurs. Treatment options include eye drops, laser treatment, & surgery to lower eye pressure, thus preventing further optic nerve damage. Inflammatory diseases of the eye including uveitis, scleritis, and ocular cicatricial pemphigoid, involve inflammation of various parts of the eye. These conditions can arise due to autoimmune disorders, infection, or exposure to toxins and can lead to severe complications if left untreated, including vision loss. Symptomatology includes redness, pain, blurred vision, and light sensitivity. Treatment focuses on controlling inflammation with corticosteroids, immunosuppressive agents, and biologics tailored according to the underlying cause and severity of the disease. Refractive disorders, including myopia (nearsightedness), hyperopia (farsightedness), astigmatism, and presbyopia, are conditions in which the shape of the eye enables it to bend light correctly, resulting in blurred vision. They are among the most common ocular conditions affecting people of all ages globally. Modern corrective measures range from eyeglasses and contact lenses to advanced surgical options, including LASIK and PRK. Developments in refractive surgery techniques continue to enhance safety, efficacy, and patient satisfaction.

End User: Increasing contribution of Hospitals providing various services ranging from basic ophthalmic evaluations to complex surgical interventions

Healthcare service providers in ophthalmology encompass a broad range of entities, including private clinics, community health centers, and specialized vision care providers. These entities are at the forefront of implementing innovative eye care services, from routine eye exams to advanced diagnostic screenings and treatment modalities for various eye conditions. With a growing preventive care and early detection, healthcare service providers are increasingly adopting cutting-edge technologies such as AI for retinal imaging analysis.

Hospitals constitute a significant segment of the ophthalmology market, providing various services ranging from basic ophthalmic evaluations to complex surgical interventions. These institutions often house specialized ophthalmology departments with state-of-the-art facilities to manage acute and chronic eye conditions. Hospitals are crucial in managing emergencies, surgical procedures, and treatments requiring multidisciplinary care. The integration of advanced diagnostic and therapeutic technologies, alongside expertise in managing complicated cases, renders hospitals indispensable in addressing comprehensive eye health needs. Medical institutes specializing in ophthalmology are central to driving innovation and education. These institutes provide clinical services and contribute significantly to the advancement of ophthalmic knowledge through research and development. They offer specialized training and fellowship programs, preparing the next generation of ophthalmologists with the skills to address evolving eye health challenges. Medical institutes often collaborate with industry partners to conduct clinical trials, facilitating the translation of research findings into clinical practice. Research organizations dedicated to ophthalmology focus on uncovering new insights into the pathophysiology of eye diseases, developing innovative diagnostic tools, and identifying novel therapeutic strategies. Their work is instrumental in broadening our understanding of complex eye conditions and in the quest for preventative measures and cures. These organizations often collaborate with academia, healthcare providers, and industry stakeholders, driving interdisciplinary approaches to tackle the most pressing challenges in eye health.

Regional Insights

The utilization of ophthalmology treatment and diagnostics worldwide, including in the U.S., Canada, China, India, Germany, and others, is evolving rapidly with improving accessibility to ophthalmology care facilities and the growing availability of innovative devices and treatments offered by prominent manufacturers. The increasing utilization of smartphones, laptops, tablets, and other similar devices with changing lifestyles and busy work cultures among the younger population has increased the burden of refractive disorders in developing and developed economies. Furthermore, manufacturers from several countries, including China, Indonesia, Japan, and South Korea, are consistently producing unique eyeglasses that complement the regional population, significantly shaping the ophthalmology market space in the Asia-Pacific region. Moreover, with surging research activities and tremendous technological advancements undertaken by medical institutes and well-established market players, and integration of advanced technologies such as artificial intelligence is expected to increase the use of ophthalmologic products to treat and correct vision impairment across economies in the coming years.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Ophthalmology Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Ophthalmology Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Ophthalmology Market, highlighting leading vendors and their innovative profiles. These include AbbVie Inc., Alcon Inc., Alkeus Pharmaceuticals, Inc., Apotex Inc., Bausch + Lomb Corporation, C.H. Boehringer Sohn AG & Co. KG, Carl Zeiss AG, ClearSight, CooperVision, Inc., Duopharma Consumer Healthcare Sdn Bhd, Essex Bio-Technology Limited, EssilorLuxottica S.A., Eyenovia, Inc., F. Hoffmann-La Roche AG, GenSight Biologics S.A., Geri-Care Pharmaceuticals Corp., Glaukos Corporation, Halma PLC, Harrow Health, Inc., Honeywell International Inc., Hoya Corporation, Johnson & Johnson Services Inc., Kubota Pharmaceutical Holdings Co., Ltd., Lumenis Be Ltd., Nidek Co., Ltd., Novartis AG, OCuSOFT, Inc., Oxurion NV, Pfizer, Inc., PharmOptima LLC, Santen Pharmaceutical Co., Ltd., SEED Co., Ltd., Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Topcon Corporation, Unimed Pharma, Spols r.o., and Visioncare Optolab Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the Ophthalmology Market to forecast the revenues and analyze trends in each of the following sub-markets:

Diseases
- Age-Related Macular Degeneration
- Cataract
- Glaucoma
- Inflammatory Diseases
- Refractive Disorders

Product Type
- Drugs
  - Allergic Conjunctivitis & Inflammation Drugs
  - Dry Eye Drugs
  - Glaucoma Drugs
  - Retinal Disorder Drugs

Equipment
- Diagnostic Devices
- Surgical Devices
  - Intraocular Lenses
  - Ophthalmic Lasers
Prescription Glasses & Lens
Software

End User
- Healthcare Service Providers
- Hospitals
- Medical Institutes
- Research Organizations

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Ophthalmology Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Ophthalmology Market?

3. What are the technology trends and regulatory frameworks in the Ophthalmology Market?

4. What is the market share of the leading vendors in the Ophthalmology Market?

5. Which modes and strategic moves are suitable for entering the Ophthalmology Market?

Product Code: MRR-4348D129FA96

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rising prevalence of eye disorders and growing awareness among the population
  - 5.1.1.2. Increasing adoption of prescription glasses and lenses
  - 5.1.1.3. Presence of well-equipped healthcare infrastructure and increasing number of drugs approvals
- 5.1.2. Restraints
  - 5.1.2.1. High cost of ophthalmologic treatments
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging research activities of ophthalmology treatments and availability of grants
  - 5.1.3.2. High usage potential owing to the technological integrations in Ophthalmology
- 5.1.4. Challenges
  - 5.1.4.1. Limited skilled professionals for ophthalmic procedures
5.2. Market Segmentation Analysis
- 5.2.1. Diseases: proliferation of age-related macular degeneration disease resulting in progressive loss of central vision
- 5.2.2. End User: Increasing contribution of Hospitals providing various services ranging from basic ophthalmic evaluations to complex surgical interventions
5.3. Market Trend Analysis
- 5.3.1. Emergence of telehealth and expansion of ophthalmology care across Americas
- 5.3.2. Start-ups focusing on developing ophthalmology drugs with increasing need due to prevalence of blindness & vision impairment in Asia-Pacific
- 5.3.3. Surging research activities and continuous technological advancements in ophthalmology therapeutics in EMEA
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization

6. Ophthalmology Market, by Diseases

6.1. Introduction
6.2. Age-Related Macular Degeneration
6.3. Cataract
6.4. Glaucoma
6.5. Inflammatory Diseases
6.6. Refractive Disorders

7. Ophthalmology Market, by Product Type

7.1. Introduction
7.2. Drugs
7.3. Equipment
7.4. Prescription Glasses & Lens
7.5. Software

8. Ophthalmology Market, by End User

8.1. Introduction
8.2. Healthcare Service Providers
8.3. Hospitals
8.4. Medical Institutes
8.5. Research Organizations

9. Americas Ophthalmology Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Ophthalmology Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Ophthalmology Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Alkeus Announces USD 150 million Series B Financing,
- 12.3.2. HOYA Vision launches MiYOSMART Sun lenses to protect against myopia in children
- 12.3.3. Curative Biotechnology files patent on ophthalmic formulation
- 12.3.4. AI-based eye disease detection startup, Eyetelligence raises USD 12 million USD from investors
- 12.3.5. Eyenovia Announces Fda Approval Of Mydcombi, The First Ophthalmic Spray For Mydriasis, Which Also Leverages The Company's Proprietary Optejet Device Platform
- 12.3.6. Astellas reaches agreement to acquire Iveric Bio for USD 5.9 billion
- 12.3.7. Bausch + Lomb Announces U.S. Launch of StableVisc Cohesive Ophthalmic Viscosurgical Device and TotalVisc Viscoelastic System
- 12.3.8. NIDEK launches the NT-1/1e Non Contact Tonometer
- 12.3.9. Celanese Announces Agreement with Glaukos Corporation for Sustained Release Glaucoma Treatment
- 12.3.10. Thea Open Innovation and Galimedix announce strategic to develop and commercialize products
- 12.3.11. Grifols enters agreement with Selagine to develop immunoglobulin eye drops to treat dry eye disease
- 12.3.12. Topcon Healthcare and OphtAI Announce their Partnership in EMEA
- 12.3.13. Eyenovia and Formosa partner for new ophthalmic therapeutics
- 12.3.14. Viatris Forms Eye Care Unit from Acquisitions of Oyster Point Pharma and Famy Life Sciences

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio