Analysis of Ophthalmological Industry

In: Business and Management

Submitted By ikleel
Words 2914
Pages 12
An Assignment on: An Analysis of Ophthalmological Industry

Submitted By

Ikleel Sarwari Malik

Industry Profile
Introduction
Ophthalmologic Industry
Overall, ophthalmology covers devices, surgical procedures, pharmaceuticals and consumer eye-care goods used in the treatment of eye diseases and infections. Ophthalmology devices are used for a range of key procedures, including vitreo-retinal surgery to treat retinal conditions and refractive surgery to restore impaired vision in cases such as hyperopia and myopia. Devices are also used for ophthalmological surgery in the treatment of glaucoma, the leading cause of blindness, and cataracts, and the number one cause of treatable blindness, to replace the natural eye lens with an intraocular lens.

Eye Health across the Globe
According to the World Health Organization, there are more than 180 million individuals in the world who are blind or are at serious risk of becoming blind. This number is staggering when you consider that as many as 75 percent of these cases could have been prevented or treated at an early stage. Unfortunately, proper eye care is either unaffordable or unavailable in many areas of the world today. This problem is compounded by the fact that many within the medical communities that serve these areas lack the proper education, tools and resources to provide adequate care. The world's population is aging, and the prevalence of blindness caused by treatable or preventable eye diseases – such as cataracts and glaucoma – could continue to grow at an exponential rate without proper action.
Global Scenario
Changing trends in diet and lifestyle as well as increased longevity are growing the market for ophthalmological treatments: the global ophthalmic device market is expected to reach $28 billion by 2016 exhibiting a 2.5% compound annual growth rate from 2009 to 2016, according to…...

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