United States Ophthalmic Market Is Driven By Rising Incidences Of Eye Diseases

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The United States ophthalmic market consists of sales of ophthalmic drugs, surgical equipment, and contact lenses in the United States. Ophthalmic drugs, surgical equipment, and lenses are used in the diagnosis, treatment, and prevention of eye diseases and disorders. The United States ophthalmic market includes products for cataract surgery, glaucoma surgery, retinal surgery equipment, ophthalmic drugs such as anti-infective, anti-inflammatory drugs, and contact lenses. The rising prevalence of eye disorders like cataracts, glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy drive the demand for ophthalmic drugs and surgical equipment in the country. Better accessibility to healthcare facilities and presence of medical reimbursement policies further push the market growth.

The Global United States Ophthalmic Market Size is estimated to be valued at US$ 15.90 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the United States Ophthalmic are Novartis AG, AbbVie, Merck & Co., Inc, Bausch Health Companies ...
... Inc., Santen Pharmaceutical Co., Ltd. and Among Others. Novartis AG dominates the market owing to its wide product portfolio of ophthalmic drugs like Lucentis and Beovu drugs for treating retinal disorders.

The growing geriatric population suffering from age-related macular degeneration and cataracts is fueling the demand for ophthalmic drugs and surgical equipment in the country. According to the U.S. Census Bureau, the number of Americans aged 65 and older is projected to grow to over 95 million by 2060. Their risks of developing eye diseases increase with age.

The United States ophthalmic market has been witnessing increasing consolidations and synergies between ophthalmic device manufacturers and pharmaceutical companies to strengthen their foothold. For instance, in 2017, Novartis acquired Alcon to become a global leader in eye care. Such strategic mergers and acquisitions are helping companies expand their geographic footprint.

The rising incidences of diabetes is a key driver for the United States ophthalmic market. Diabetic retinopathy is one of the leading causes of vision loss among working-age adults in the country. According to CDC, over 34 million Americans have diabetes and 1.6 million new cases of diabetes are diagnosed annually in the U.S. This is expected to directly impact the sales of anti-VEGF drugs and surgical equipment used in diabetic retinopathy treatment.

Geopolitical Impact on United States Ophthalmic Market Growth

The United States ophthalmic market is facing uncertainties arising from ongoing geopolitical developments and global security challenges. Supply chain disruptions due to regional conflicts and economic sanctions have affected the availability of key ophthalmic drugs and medical devices in the country. Rising geo-political tensions with major trading partners like China are making U.S. healthcare companies dependent on foreign suppliers vulnerable. They need to diversify sourcing and establish local manufacturing capabilities to mitigate such risks. The U.S. ophthalmic market players will have to closely monitor geopolitical developments impacting international trade and plan contingencies.

Geographical Concentration in United States Ophthalmic Market

The southern region of the United States, comprising states like Texas, Florida and California accounts for the largest share of the country's ophthalmic market in terms of value. This is due to the high population density and greater economic activity in these states compared to other parts of the nation. The high prevalence of ophthalmic disorders like glaucoma, cataract and diabetic retinopathy has also contributed to the concentration of the U.S. ophthalmic market in the south. However, with ramped up healthcare infrastructure development, the mid-western region is emerging as another high growth area for the ophthalmic market.

Fastest Growing Region in United States Ophthalmic Market

The western region consisting of states like Washington, Colorado, Arizona and Nevada is poised to be the fastest growing regional market for ophthalmic products and services in the U.S. This is because of increasing health awareness, rising incomes, progressive healthcare policies and higher focus on preventative care in these states. The western region also has a relatively younger population compared to other areas which bodes well for future growth of the ophthalmic market. The market players need to devise special strategies to capitalize on the immense potential offered by this region.

What Are The Key Data Covered In This United States Ophthalmic Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the United States Ophthalmic's growth between 2024 and 2031.

:- Accurate calculation of the size of the United States Ophthalmic and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- United States Ophthalmic Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of United States Ophthalmic vendors

FAQ’s

Q.1 What are the main factors influencing the United States Ophthalmic?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top United States Ophthalmic companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the United States Ophthalmic’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

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About Author:

Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)