The size of the Ophthalmology Therapeutics Market in North America was worth USD 9.06 billion in 2022. It is further estimated to be growing at a CAGR of 6.7% and worth USD 12.53 billion by 2027.
The market is showing evident potential in the mentioned forecast period. Ophthalmology deals with the treatment of eye defects and diseases. With the recent advancements in genetics and stem cell biology, the mechanisms of many ophthalmic diseases are being revealed progressively.
The growing prevalence of vision impairment drives the North American market for Ophthalmology Therapeutics. Approximately 11% of Americans aged 20 years and older suffering from diabetes had some form of visual impairment, while 3.4 million (3%) Americans aged 40 years and older are either blind or visually impaired. 1,600,000 Americans aged 50 years and above have age-related macular degeneration. Advancements in technology in medicine are also playing a key role in the growth of the market. The growing geriatric population across the continent and a rise in disposable income are other factors fuelling market growth.
However, lack of awareness about the various diseases associated with ophthalmology is a major factor restraining the market's growth. Stringent regulatory frameworks and unclear reimbursement policies are also acting as hurdles for market growth.
This research report on the North America Ophthalmology Therapeutics Market has been segmented and sub-segmented Market into the following categories:
By End User:
Based on geography, Within North America, the United States is the largest market for Ophthalmology Therapeutics with a share of xx%. Simultaneously, Canada is estimated to be the fastest growing with a CAGR of xx% during the forecast period. Glaucoma is the largest indication segment accounting for a share of approximately 31%, followed by AMD, with a share of 27%.
Some of the promising companies operating in the North America 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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