Japan Ophthalmic Devices & Drugs Market Size

Japan Ophthalmic Device & Drug Market Analysis

Japan Ophthalmic Devices & Drugs Market is poised to grow at a CAGR of 2% during the forecast period (2022-2027).

The COVID-19 pandemic led to disruption in not only the research and development activities of other therapies and drugs for medical conditions other than COVID-19 but also impacted the treatment procedures and supply chain of the pharmaceuticals and medical devices around the world which also impacted the studied market. For instance, the impact of COVID-19 has caused very serious and irreversible consequences in people with glaucoma, who have suffered a very rapid evolution of the disease and have not been able to carry out follow-up by the specialist, which, in some cases, has resulted in a loss of the visual field, according to a health article published in March 2021, titled "The Covid-19 pandemic accelerates the worsening of glaucoma cases" stated that the COVID-19 pandemic has increased concern among glaucoma patients, and the overall result showed that the patients were more concerned for their glaucoma care as a result of the closure of the care centers or postponement of their appointments, which not only affected the treatment procedures but also had an impact on the diagnostics services. This is according to the research study published in February 2021, titled "The impacts of COVID-19 on glaucoma patient outcomes as assessed by POEM." Therefore, the overall impact of COVID-19 on Japan ophthalmic devices & drugs market was negative primarily due to the decline in the diagnostics and treatment procedures of the diseases associated with the eye but with the ongoing vaccination programs and launch of new drugs against the COVID-19, the studied market is expected to beam back to its full potential in due time.

Certain factors that are driving the growth of the market include demographic shift, the impact of the prevalence of eye disease, technological advancements in the field of ophthalmology, and the rising geriatric population. The data from the Ministry of Internal Affairs and Communications 2021, has stated that a record high of 36.4 million persons in Japan was predicted to be 65 or older as of September 2021, which was an increase of around 220,000 compared to that of the year 2020. Similarly, increasing cases of glaucoma is another factor in market growth. According to a November 2020 article in the Clinical Epidemiology Journal titled "Detection of Glaucoma and Other Vision-Threatening Ocular Diseases in the Population Recruited at Specific Health Checkups in Japan," 12.4% of the population under study had been given a glaucoma diagnosis, and 2.4% had preperimetric glaucoma. Furthermore, macular degeneration (1.2%), diabetic retinopathy (1.0%), chorioretinal atrophy (0.5%), macular epiretinal membrane (2.9%), branch retinal vein occlusion (0.7%), and other retinal illnesses (2.0%) were all prevalent. The prevalence of these disorders is promoting market growth in the country, Additionally, the initiatives by key market players are another factor in market growth. For instance, in June 2021, the market leader in ophthalmic lens technology, HOYA Vision Care, unveiled its eagerly awaited Visionary Alliance loyalty programme. This programme is intended to meet and exceed the professional needs of independent ECPs by providing them with a global knowledge base, business tools, advice, and support to enable them to run their businesses independently. Similarly, in March 2021, Johnson & Johnson Vision received approval from the Japanese Ministry of Health, Labour and Welfare (MHLW) for the first and only vision correction contact lens that relieves allergic eye itch named as ACUVUE Theravision with Ketotifen. Thums the abovementiond factors are expected to increase the market growth.

However, the higher cost of ophthalmic devices and treatment is expected to hinder market growth.