(PharmaNewsWire.Com, June 29, 2017 ) Europe Ophthalmology Therapeutics Market was worth $5.58 billion in 2016 and estimated to be growing at a CAGR of 6.9%, to reach $7.78 billion by 2021. The market is showing evident potential in the mentioned forecast period. Ophthalmology deals with the treatment of eye defects and diseases. Age related macular degeneration is the major cause of visual loss in adults in industrialised countries, other conditions associated with vision loss include cataract, diabetic retinopathy, and glaucoma along with low vision.
There are around 25 million people with visual impairment in the Europe. It is estimated that more than 70 million people have eye diseases that are in the early stages which if left untreated may lead to severe impairment.
Europe Ophthalmology Therapeutics is driven by the increasing incidence of vision impairment. Advancements in technology in the field of medicine are also playing a key role in the growth of the market. Growing geriatric population across the continent along with an increase in disposable income of the people are some of the factors adding up to the market growth. However, Stringent regulatory framework and unclear reimbursement policies are also acting as hurdles for market growth. Lack of awareness about various diseases associated with ophthalmology is also a major restraint hindering the market growth.
Europe Market for Ophthalmology Therapeutics is broadly segmented into Indication and End User. On the basis of indication, the market is analysed as Glaucoma, Dry Eye Syndrome, Diabetic Retinopathy, Retinal Vein Occlusion, Age-related Macular Degeneration, Macular Edema and Allergic Conjunctivitis. Glaucoma is the largest indication segment accounting for a share of approximately 31% followed by AMD with a share of XX%. Based on End User the market is segmented into Hospitals, Eye Clinics, Diagnostic Centres and Patients. Geographically, Europe Ophthalmology Therapeutics market is segmented into United Kingdom, Germany, France, Italy and Spain. Within Europe, Germany is the largest market for Ophthalmology Therapeutics
Some of the major companies covered in the report are Pfizer Inc., Allergan Inc., Alcon Inc., Merck & co. Inc., Roche Valeant, Regeneron, Santen, Bayer, Senju, Lpath and Eye Gate Pharmaceuticals
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