Ophthalmology relates to the sense of sight. Ophthalmologists are medical or osteopathic doctors who specialize in eye and vision care. They are different from optometrists and opticians and have the license to practice medicine and surgery. Many ophthalmologists are also involved in research for finding causes and cures for eye diseases and vision disorders. Surgical devices, diagnostic and monitoring devices, vision care, and drugs constitute the ophthalmology market.
An ever increasing geriatric population, growing number of people with eye diseases such as glaucoma and cataract, changing demographics and geographical trends, and a lot of thrust on combination therapies of drugs is driving demand for ophthalmology drugs and devices worldwide. However, a drying pipeline of ophthalmology drugs is a cause for worry.
North America so far has driven the demand for ophthalmology drugs and devices and is trailed by Europe. The markets in the two continents, however, have become saturated. Asia Pacific, powered by India and China, has opened up new avenues of growth in the market as it is relatively underpenetrated and has a massive population.