The size of the Europe Ophthalmology Therapeutics Market was worth USD 6.88 billion in 2022. It is further estimated to be growing at a CAGR of 6.9% and value USD 9.61 billion by 2027.
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 industrialized countries; other conditions associated with vision loss include cataracts, diabetic retinopathy, and glaucoma, along with the low vision.
There are around 25 million people with visual impairment in 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. The 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.
This research report on the European Ophthalmology Therapeutics Market has been segmented and sub-segmented the Market into the following categories:
By End User:
Geographically, Within Europe, Germany is the largest market for Ophthalmology Therapeutics Glaucoma is the largest indication segment accounting for a share of approximately 31% followed by AMD with a share of XX%.
Companies playing a leading role in the European Ophthalmology Therapeutics Market 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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