Asia Pacific ophthalmic drugs & devices market was valued at $XX million in 2018 and is expected to reach $XX million by 2027 growing at a CAGR of 4.86% during the forecast period of 2019-2027. The ophthalmic drugs and devices market is driven by an increase in FDA approvals which gives a boost in the adoption of drugs and devices and rise in surgeries in ophthalmology market due to the high dominance of refractive errors.
The Asia-Pacific ophthalmic drugs & devices market is segmented by ophthalmic devices, surgery devices, vision care, by type of diseases, by therapeutics and by geography atrophy. Increase in geriatric population globally, rise in the number of eye disorders, increase in healthcare expenditure and rise in adoption of minimally invasive surgeries have contributed to the growth of the market.
Well-known drugs are going off patent and key players affected by the delay in new drugs coming into the market are the two factors restricting the growth of the market. The market faces challenges in risk associated with the ocular diseases and lack of awareness among people regarding ophthalmology.
Global ophthalmic drugs market has a large number of market players but the market is dominated by companies like Senju Pharmaceutical Co., Ltd., Sun Pharmaceuticals Industries, Ltd., Pfizer Inc., Roche Holding AG, Apollo Endosurgery, Johnson and Johnson, Valeant, GlaxoSmithKline, Allergan Inc., Cipla Pharmaceuticals, Merck & Co., Eyegate Pharmaceuticals, Abbott Laboratories, Regeneron, Bayer, and Novartis AG.