Ophthalmology is a branch of medicine which deals with anatomy, physiology, and diseases of the eye. An ophthalmologist is a specialist in medical and surgical eye problems who performs eye operations. They are specially trained to provide the full spectrum of eye care from prescribing glasses and contact lenses to complex and delicate eye surgery. The devices include glasses, lenses, diagnostics, lasers, solutions, and surgical instruments. The Europe ophthalmology drugs and devices market is expected to register a CAGR of 5.3% during the forecast period of 2018–2023.
High Prevalence of Cataract in Europe
According to Eurostat, cataract surgery is one of the most common surgical operations in Europe. This procedure was conducted more than 3.5 million times in 2015. The increasing rate of cataract surgeries has a high impact on the ophthalmic market, resulting in the high demand for cataract surgery equipment and drugs. After 2012, the numbers have only increased as more and more people have been opting for cataract surgeries. This has contributed to the rise in demand for various cataract-related devices and drugs.
Other factors, such as the large number of eye problems, availability of new advanced devices, and patient preference for non-invasive treatment are going to drive the market in the future.
Long Waiting Time of Surgery
With the rise in the rate of eye surgeries being conducted in Europe, the waiting periods have also increased. The waiting time has a high influence on the patient’s preference for eye surgeries. Delaying of surgery can have an impact on the patient’s satisfaction and on the patient’s quality of life, because of limited functionality, increased social isolation, anxiety, higher risks for development of more complications, worsening of symptoms or poorer prognosis and outcome following surgery. Therefore, the high waiting periods in some European countries, make patients choose a foreign destination for their surgery and treatment. Cataract surgery accounts for, in many areas, over half of all ophthalmic surgeries. Although the European ophthalmic market shows great promise due to the increasing number of eye surgeries, it still faces challenges from the waiting periods of surgery.
Additionally, the high risk associated with eye surgery, lack of skilled technicians, and stringent regulations are also restraining the market.
Germany to Dominate the Market
The ophthalmology drugs and devices market is segmented by surgical devices, by drugs, and by geography. By surgical devices, the market is segmented into glaucoma surgery devices, cataract surgery devices, refractive surgery devices, vitreoretinal surgery devices, and diagnostic and monitoring devices. By drugs the market is segmented into anti-glaucoma drugs, ophthalmology infection drugs, ophthalmology inflammation drugs, ophthalmology lubricants, mydriasis drugs, and ophthalmology swelling. By geography, it is segmented into Germany, United Kingdom, France, Italy, Spain, and the rest of Europe.
Germany dominates the ophthalmology drugs and devices market due to the presence of well-established healthcare facilities and the rise in geriatric population in the country. Other factors include rising number of patients suffering from diabetic retinopathy, age-related macular degeneration (AMD), and other vision disorders. Technological advances in the field of ophthalmology medical devices, favorable healthcare coverage from the government, and an increase in the healthcare spending on ophthalmologic services.
The major players include: Abbott Medical Optics, Inc., Alcon, Inc., Bausch & Lomb Inc., Carl Zeiss Meditec AG, Essilor International S.A., Haag-Streit Group, Johnson & Johnson, Nidek Co., Ltd, Topcon Corporation, and Ziemer Ophthalmic Systems AG, among others.
Reasons to Purchase the Report
- Market analysis for the European ophthalmology drugs and devices market, with region-specific assessments and competition analysis on Europe and regional scale.
- Examining the various perspectives of the market with the help of Porter’s Five Forces Analysis
- Identify the treatment type that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Products and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1.1 High Number of Eye Problems Augmenting to Demand
6.1.2 Availability of New Advanced Devices
6.1.3 High Prevalence of Cataract
6.1.4 Patient Preference for Non-invasive Treatment
6.2.1 High Risk Associated with Eye Surgery
6.2.2 Long Waiting Time of Surgeries
6.2.3 Lack of Skilled Technicians
6.2.4 Stringent Regulations
7. Market Segmentation
7.1 Surgical Devices
7.1.1 Glaucoma Surgery Devices
188.8.131.52 Glaucoma Drainage Devices
184.108.40.206 Glaucoma Lasers
220.127.116.11 Glaucoma Stents and Implants
7.1.2 Cataract Surgery Devices
18.104.22.168 Intraocular Lenses
22.214.171.124 Phacoemulsification Devices
126.96.36.199 Ophthalmic Viscoelastic Devices
7.1.3 Refractive Surgery Devices
7.1.4 Vitreoretinal Surgery Devices
188.8.131.52 Photocoagulation Lasers
184.108.40.206 Illumination Devices
220.127.116.11 Vitrectomy Machines & Packs
7.1.5 Diagnostic and Monitoring Devices
18.104.22.168 Fundus Cameras
22.214.171.124 Wavefront Aberrometers
126.96.36.199 Corneal Topography
188.8.131.52 Visual Field Analyzers
184.108.40.206 Optical Coherence Tomography Scanners
220.127.116.11 Ophthalmic Ultrasound Imaging Systems
7.2 By Drugs
7.2.1 Anti Glaucoma Drugs
7.2.2 Ophthalmic Infection Drugs
7.2.3 Ophthalmic Inflammation Drugs
7.2.4 Ophthalmic Lubricants
7.2.5 Mydriasis Drugs
7.2.6 Ophthalmic Swelling
7.3 By Geography
7.3.2 United Kingdom
7.3.6 Rest of Europe
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Agreements, Collaborations, and Partnerships
8.3 New Product Launches
9. Company Profiles
9.1 Abbott Medical Optics, Inc.
9.2 Alcon, Inc.
9.3 Bausch & Lomb, Inc.
9.4 Carl Zeiss Meditec AG
9.5 Essilor International S.A.
9.6 Haag-Streit Group
9.7 Johnson and Johnson
9.8 Nidek Co. Ltd
9.9 Topcon Corporation
9.10 Ziemer Ophthalmic Systems AG
*List not Exhaustive
10. Future of the Market