Europe 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 4.63% 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.
Better regulatory policies have led to the increased trust in the drugs market which is the key factor driving the growth in the Europe 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 Sun Pharmaceuticals Industries, Ltd., Apollo Endosurgery, Allergan Inc., Merck & Co., Roche Holding AG, Valeant, Regeneron, Eyegate Pharmaceuticals, Pfizer Inc., GlaxoSmithKline, Cipla Pharmaceuticals, Senju Pharmaceutical Co., Ltd., Novartis AG, Abbott Laboratories, Bayer, and Johnson and Johnson.