Name: the ophthalmology market
Brand: Businesscoot
Price: 89 EUR
Availability: InStock

INFORMATION ON THE STUDY

Price: 89€ HT
Last update: 19/11/2021
Language: English
Category: Health
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Content of the study

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MARKET OVERVIEW

1.1 Definition and scope of study

Ophthalmology is a branch of medicine and surgery which deals with the diagnosis and treatment of disorders of the eye. Ophthalmologists are allowed to prescribe medications to treat eye diseases, implement laser therapy, and perform surgery when needed. They may also participate in academic research on the diagnosis and treatment for eye disorders. Ophthalmic market can be segmented based on product (drugs and devices), disease (including glaucoma, cataract, age-related and others), and end-user (hospitals, medical institutes, research organizations, and healthcare service providers).

The global ophthalmology market is expected to grow at a CAGR of 3.8% from 2020 to 2027 and reach the market value of over $64.3 billion by 2027.

In the coming years, Europe is expected to gain the second largest market share in the ophthalmology market, thanks to an increasing number of manufactures investing more resources into research and development for new treatments. In Europe, Italy is considered the 4th country based on ophthalmology market share, following United Kingdom, Germany and Spain. The ever-increasing geriatric population is one of the main drivers of the ophthalmology market. It is general knowledge that the elderlies are more vulnerable to developing eye-related conditions such as glaucoma and dry eye, driving the demand for ophthalmic products.

Consistent advancements in medical technology, such as the introduction of innovative products that are more scalable and effective in care, are propelling the global ophthalmology market growth. Apart from that, the ophthalmic market’s ability to expand is severely hampered by a scarcity of qualified practitioners and the high cost of ophthalmic instruments utilized for diagnosis purposes. In Italy, a total of 8,326 medicines are specialized in ophthalmology: this number is insufficient for a population of almost 60 million. Moreover, the fast-growing number of elderly people within the population generates increased demand for ophthalmic visits and products.

Considering Italian manufacturers of ophthalmic devices and drugs, the most relevant are Fimas Oftalmologia, specialized in providing medical centers with technological devices, and Omnivision, whose business is based on the production of drugs for ophthalmic purposes.