Global Vision Care Devices And Equipment Market

Ophthalmology Drugs Market Definition

The ophthalmology drugs market consists of sales of ophthalmology drugs and related services by entities (organizations, sole traders and partnerships) that produce ophthalmology drugs to treat eye related diseases. The ophthalmology drugs industry includes establishments that produce pharmaceutical drugs to treat glaucoma diseases, anti- inflammatory and tear stimulating drugs under dry eye medications drugs, and other drugs for treating retinal disorders and allergies. Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax. The pharmaceutical industry develops drugs to diagnose, cure, treat or prevent diseases. Pharmaceutical drugs are subjected to various laws and regulations that deal with patenting, testing, safety, efficacy and marketing. Ophthalmologic drug manufacturers produce pharmaceutical drugs made from active pharmaceutical ingredients (API) and excipients.

The antiglaucoma drug market consists of sales of antiglaucoma drugs which are used in the treatment of glaucoma. Glaucoma is a disease in which the optic nerve is damaged resulting into irreversible loss of vision and it is often associated with increased pressure of the fluid in eye. The main types of products in antiglaucoma drug are alpha agonist, beta blockers, prostaglandin analogs, combined medication and others. Alpha-adrenergic agonists are sympathomimetic drugs that activate alpha adrenergic receptors preferentially. The different types include hospital prescription drugs, over-the-counter drugs and involves different types of disease conditions such as open-angle glaucoma, angle-closure glaucoma, normal-tension glaucoma, congenital glaucoma, other types of glaucoma. The global antiglaucoma drugs market size is expected to grow from $12.76 billion in 2021 to $13.91 billion in 2022 at a compound annual growth rate (CAGR) of 9.0%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global antiglaucoma market size is expected to reach $18.62 billion in 2026 at a CAGR of 7.6%. Incidence of glaucoma increases with age and due to increase in the geriatric population worldwide, governments are launching initiatives to promote awareness on glaucoma and other eye disorders. For instance, the Vision Health initiative by Centers for Disease Control and Prevention (CDC) in the USA aimed to prevent eye disorders including glaucoma and improve the overall eye health. In Australia, the government funded an eye screening program as part of its Vision 2020 initiative to promote awareness and prevent vision loss among the population suffering from glaucoma and other eye disorders. These government initiatives will stimulate the awareness among the people on glaucoma driving the market for anti-glaucoma drugs. Anti-glaucoma drugs are facing the risk of patent expiration in the USA and Europe. For instance, travaprost and bimatoprost, which are used in the treatment of glaucoma, will lose its patent in 2021. This will result in the launch of generic form of the drugs that are priced lower than branded drugs thereby reducing the overall market growth. Companies in the antiglaucoma drugs market are developing combination therapies in the treatment of glaucoma disease due to their ability to lower intraocular pressure in glaucoma patients. Most of the combinations therapies are fixed dose drugs as it offers patient the ease of consumption when compared to non-fixed combinations. Alcon launched a combination drug, Simbrinza which is fixed combination of Brinzolamide and Brimonidine, to help patients in reducing the intake of multiple drugs for glaucoma. Rocklatan is a combination of a rho kinase inhibitor and a prostaglandin analog. Combigan is a combination of beta blocker and alpha agonist. Cosopt is a combination of beta blocker and carbonic anhydrase inhibitor. To get an antiglaucoma drug approved by the United States Food and Drug Administration (USFDA), drug should have comparable intraocular pressure (IOP) lowering efficacy and benefit-to-hazard ration with respect to the benchmark drug. For instance, Rhopressa (netarsudil) Ophthalmic Solution by Aerie Pharmaceuticals Inc., was approved by the US FDA considering its ability to lower IOP when compared to benchmarked drugs for glaucoma in the market. Major players in the antiglaucoma drugs market are Aerie Pharmaceuticals, Inc., Allergan, Novartis AG, Abbott Healthcare, Johnson & Johnson, Merck & Co, Genentech Inc., Pfizer, Inc., Bayer AG and Santen Pharmaceuticals Company Ltd. North America is the largest region in the antiglaucoma drugs market in 2021. The Middle East is expected to be the fastest growing region in the global antiglaucoma drug market during the forecast period. The regions covered in the global antiglaucoma market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the antiglaucoma drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global antiglaucoma drugs market is segmented - 1) By Product Type: Alpha Agonist, Beta Blockers, Prostaglandin Analogs, Combined Medication, Others 2) By Disease Condition Type: Open-Angle Glaucoma, Angle-Closure Glaucoma, Normal-Tension Glaucoma, Congenital Glaucoma, Others 3) By Type: Hospital Prescription Drugs, Over-The-Counter Drugs

The diuretic drugs market consists of sales of diuretic drugs and related services. Diuretic drugs help increase the flow of urine by reducing concentration of sodium and chloride in the body. Diuretic drugs include diuril, microzide, indapamide. The main types of diuretic are osmotic diuretics, carbonic anhydrase inhibitors, loop diuretics, thiazides & thiazide-like diuretics and aldosterone antagonists. An osmotic diuretic is a form of diuretic that prevents water and sodium from being reabsorbed. They are intravenously administered pharmacologically inactive compounds. The different routes of administration include intravenous, oral and is used in hypertension, glaucoma, heart failure, kidney stones. It is distributed through various channels such as hospital pharmacies, independent pharmacies, retail pharmacies, drug stores and online pharmacies. The global diuretics market size is expected to grow from $0.60 billion in 2021 to $0.64 billion in 2022 at a compound annual growth rate (CAGR) of 6.6%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global diuretic market is expected to reach $0.78 billion in 2026 at a CAGR of 5.0%. The increase in the renal and kidney disorder cases drives the diuretics drug market. In such cases, the kidney does not function properly increase the need for water-pills (diuretic drugs) to maintain a proper flow of urine. The rise in kidney disorders can be attributed to change in lifestyle such as consumption of unhealthy food high in calcium and other minerals. For example, according to the National Kidney Foundation Inc, in 2019, about 1 out of every 7 or 15% of the adult population in America have chronic kidney disease (CKD). The diuretic drugs market is restricted by the stringent regulatory policies governing the market. Several requirements are laid down by the regulatory bodies to manufacture, process and pack the drugs and the companies should abide by various compliances such as FDA's CGMP regulations; Compliance with European Medicines Agency Regulations, WHO Guidelines. For instance, the Current Good Manufacturing Practice (CGMP) regulations of FDA in the USA imposes several regulations under 21 CFR parts 314, 210 and 211, with respect to application and licensing of new and generic drugs, regulations for manufacturing, processing, packaging or holding of drugs, and requirements for finished pharmaceuticals respectively. These regulations negatively impact the growth of the market. A new drug delivery technology called the oral nanoparticle delivery technology is developed to improve the pH and intestinal permeability of the diuretic drugs to increase the digesting capability as majority of these drugs have low water solubility and bioavailability. Drugs such as amlodipine and isradipine having low bioavailability (less number of solvent to get diluted) and high light sensitivity were delivered using Nano emulsion (dispersion that consist of oil, surfactants and aqueous phase) as a drug delivery system. Pharmacokinetics (study of how organism affects drug) data of both the drugs revealed enhanced stability and bioavailability. For instance, Nanomerics, a pharmaceutical nanotechnology drug delivery company is carrying out R&D in this technology by working on MET (Molecule Envelop Technology) Nanoparticles Oral Delivery. Also, in 2020, a Japanese research team from Kumamoto University, developed a new nanocarrier drug delivery technology to enhance the drugs, from moving from the blood into the brain. The manufacturers must comply with the European Medicines Agency’s scientific guidelines on quality that should be maintained in the manufacturing, processing, packaging of the drugs and help manufacturers prepare marketing authorization applications. In addition, the International Council for Harmonization (ICH) guidelines lays down Good Manufacturing Practice (ICHQ7) guide which states that all the utilities like steam, gases, compressed air, heating, ventilation and air condition could impact the quality of the product (drug). Hence, proper monitoring and actions should be executed if limits are exceeded. It has also framed guidelines for Quality Risk Management (ICHQ9) that provides all the risk management methods and tools like FMEA (Failure Mode Effects Analysis), FMECA (Failure Mode, Effects and Criticality Analysis), FTA (Fault Tree Analysis), HACCP (Hazard Analysis and Critically Control Points) and others. In March 2020, AstraZeneca, a UK based pharmaceutical company acquired Atnahs Pharma for $350 million. Through this acquisition AstraZeneca gets the commercial rights to various drugs such as Tenoretic (atenolol, chlorthalidone fixed-dose combination), Tenormin (atenolol), Zestoretic (lisinopril, hydrochlorothiazide fixed-dose combination), Inderal (propranolol) and Zestril (lisinopril). Atnahs Pharma is a UK based company that develop diuretic drugs. Major players in the diuretic market are Merck & Co., Meda Manufacturing GmbH, Pfizer Inc., Glaxosmithkline, Roche, Aton Pharma Inc., Boehringer Ingelheim GmbH, Novartis AG and Teva Pharmaceuticals Industries Ltd. North America is the largest region in the diuretic market in 2021. The Middle East is expected to be the fastest growing region in the global diuretics market during the forecast period. The regions covered in the global diuretic market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the diuretic market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global diuretics market is segmented - 1) By Type: Osmotic Diuretics, Carbonic Anhydrase Inhibitors, Loop Diuretics, Thiazides and Thiazide-Like Diuretics, Aldosterone Antagonists 2) By Application: Hypertension, Glaucoma, Heart Failure, Kidney Stones 3) By Distribution: Hospital Pharmacies, Independent Pharmacies, Retail Pharmacies, Drug Stores, Online Pharmacies 4) By Route of Administration: Intravenous, Oral

The cataract surgery devices and equipment market consist of sales of cataract surgery devices and equipment and related services. Cataract surgery devices and equipment include instruments used for performing cataract surgeries such as small incision cataract surgery and extracapsular surgery in the treatment of cataracts, a condition in which the lens of the eye becomes progressively opaque, resulting in blurred vision. The main types of cataract surgery devices and equipment are intraocular lens (IOL), ophthalmic viscoelastic device (OVD), phacoemulsification equipment, and femtosecond laser equipment. An ophthalmic viscoelastic device is used for performing cataract surgeries. The cataract surgery devices and equipment are used for various surgery types such as extracapsular cataract extraction, phacoemulsification, femtosecond laser, and others. These are used by end-users such as ophthalmology centers, hospitals, and clinics. The global cataract surgery devices and equipment market size is expected to grow from $5.95 billion in 2021 to $6.58 billion in 2022 at a compound annual growth rate (CAGR) of 10.6%. The global cataract surgery devices market size is expected to grow to $9.13 billion in 2026 at a CAGR of 8.5%. The major growth driver for this industry has been the global aging population. In 2019, there were 703 million persons aged 65 years or over in the global population. This number is projected to double to 1.5 billion in 2050. The cases of cataracts in the geriatric population are also expected to increase in the same proportion. According to World Health Organization, the number of cataract cases is expected to increase by 78% by 2050 in the U.S. alone. This presents a huge market for cataract surgery equipment manufacturers shortly by expanding the customer base due to the fast-growing geriatric population. For instance, the population of China is getting older faster than anywhere else in the world, this presents a huge market for the cataract surgery device manufacturers in China. The major challenge that is faced by this industry is the low level of awareness about eye disorders, especially cataracts. Many people do not have proper knowledge about the symptoms of cataracts and do not get the treatment done. This leads to potential revenue loss for the cataract surgery device manufacturers because of the low number of end-users. For example, as per a study done by NCBI, out of 1552 respondents, 89.9% had heard of cataracts but only 42% were aware of any symptom of cataracts, low awareness of cataract symptoms acts as a major restraint for the cataract surgery equipment industry. The cataract surgery devices and equipment industry has witnessed many positive changes introduced by the market players, the most prominent one being the introduction of laser technology. Laser-assisted cataract surgery is used to gather information about the lens, to make the corneal incision, and for the opening in the lens capsule. The advent of laser technology has caused a significant impact on this industry by bringing in new levels of safety and accuracy and advancing cataract surgery. Femtosecond laser platforms have significantly contributed to the precision of cataract surgeries being performed and may soon surpass the traditional hand-held surgeries. For example, Abbott laboratories which lacked this technology, acquired Optimedica for $250 million to enter the laser cataract surgery devices market after witnessing the huge demand and benefits of laser technology. The ophthalmology and medical equipment industry are subject to numerous stringent regulations and the cataract surgery device equipment manufacturers are no exception. These manufacturers need to comply with several regulations of which the European Medical Device Directives and the U.S. Health Care Compliance is the most prominent one. The European Medical Device Directive requires a manufacturer to meet the harmonized standards for placing their devices in the European market. Similarly the U.S. Health Care Compliance has laid down certain guidelines related to standards of business conduct to be followed by the Pharmaceutical manufacturers. The Medicines and Healthcare products Regulatory Agency (MHRA), which regulates the safety of medical devices in the UK, has issued an urgent notice to Carl Zeiss Meditec, for voluntarily recalling a small batch of its intraocular lenses (IOL). The recall was initiated after the manufacturer detected mislabelling of its IOL, Aaren Scientific EC-3 hydrophobic lens with the wrong dioptric power. Therefore, the manufacturers need to comply strictly with the correct labeling of dioptric power on the IOLs. In March 2019, Alcon, a company manufacturing cataract surgery devices acquired PowerVision for a deal amount of $285 million. This acquisition, will implement the growth of the advanced technologies of intraocular lenses and also help the patients with their needs regarding cataract surgery. Power vision, a US-based company, is a medical device company operating in cataract surgical devices. Major players in the cataract surgery devices and equipment market are Alcon Inc., Abbott Laboratories, Carl Zeiss Meditech AG, Essilor International S.A., Opcon Corporation, Allergan, Inc., Bausch & Lomb, Inc., NIDEK Co. Ltd., STAAR Surgical Company, and Johnson & Johnson. North America was the largest region in the cataract surgery devices and equipment market in 2021. Asia Pacific was the second-largest region in the global cataract surgery market. The regions covered in the global cataract surgery equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the cataract surgery devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global cataract surgery devices and equipment market is segmented - 1) By Type: Intraocular Lens (IOL), Ophthalmic Viscoelastic Device (OVD), Phacoemulsification Equipment, Femtosecond Laser Equipment 2) By Application: Ophthalmology Centers, Hospitals, Clinics 3) By Surgery Type: Extracapsular Cataract Extraction, Phacoemulsification, Femtosecond Laser, Others

The ophthalmic devices market consists of sales of ophthalmic devices and related services by entities (organizations, sole traders, and partnerships) that produce ophthalmic devices used in the diagnosis and treatment of eye-related diseases. The main types of ophthalmic devices are vision care devices and equipment, cataract surgery devices and equipment, refractive surgery devices and equipment, and diagnostic and monitoring ophthalmic devices and equipment. Cataract surgery devices and equipment are devices that emit ultrasound waves that soften and break up the lens so that it can be removed by suction. The type of expenditure is public and private. The products used are instruments/equipment and disposables. The various end uses involved are hospitals and clinics, diagnostic laboratories, and others. The global ophthalmic devices market size is expected to grow from $32.8 billion in 2021 to $36.22 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global ophthalmic device market size is then expected to grow to $50.7 billion in 2026 at a CAGR of 8.8%. The femtosecond laser is increasingly being used in cataract surgeries as it provides greater precision than traditional surgical methods. A femtosecond laser emits optical pulses with a duration of below 1 ps (ultrashort pulses), i.e., in the domain of femtoseconds (1 fs = 10-15 s). The medical procedure using this laser is done under computer-guided OCT imaging, hence there is higher control and reliability of the incisions concerning size, shape, and location, than conventional procedures. This process also reduces the risk associated with a human error during the surgery and has a shorter recovery period. Major companies manufacturing femtosecond laser ophthalmic equipment are Myalcon and Precision Lens. Robotic-assisted eye surgeries are being widely used by healthcare services organizations to improve treatment outcomes. Robot-assisted surgeries allow surgeons to perform complex eye operations with improved precision, the amplified scale of motion, reduced tremor, task automation, and flexibility. For instance, the mechatronics and control laboratory and the Jules stein eye institute together developed an intraocular robotic interventional and surgical system (IRISS) which is capable of performing both anterior and posterior intraocular surgery. This system consists of master surgical manipulators to manipulate two surgical instruments simultaneously through tiny ocular incisions and microscope-mounted cameras for 3-D teleoperated surgical visualization. Preceyes BV also developed PRECEYES Surgical System to perform robot-assisted operations inside the eye. Major companies in the ophthalmic devices market include Luxottica Group S.p.A., Johnson & Johnson, Hoya Corporation, CooperVision AG, Bausch Health, Companies Inc., Carl Zeiss AG, Flex Ltd, Nidek Co. Ltd., Topcon Corporation, and Rostec State Corporation. North America was the largest region in the global ophthalmic devices market in 2021. Asia Pacific was the second largest region in the global ophthalmic devices market. Africa was the smallest region in the global ophthalmic devices market. The regions covered in the global ophthalmic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ophthalmic devices market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The global ophthalmic devices market is segmented - 1) By Type: Vision Care Devices and Equipment, Cataract Surgery Devices and Equipment, Refractive Surgery Devices and Equipment, Diagnostic and Monitoring Ophthalmic Devices and Equipment 2) By End-User: Hospitals and Clinics, Diagnostic Laboratories, Others 3) By Type of Expenditure: Public, Private 4) By Product: Instruments/Equipment, Disposables

The ophthalmic medical lasers market consists of sales of ophthalmic medical lasers and related services by companies that manufacture them. Ophthalmic medical lasers are used for the pain-free treatment of diseases related to the eyes. The main products of the ophthalmic medical lasers are diode lasers, femtosecond lasers, excimer lasers aromatherapy, ND:YAG lasers, and others. A diode laser is a semiconductor that uses a p-n junction for producing coherent radiation with the same frequency and phase which is either in the visible or infrared spectrum. The various applications include refractive error correction, cataract removal, diabetic retinopathy, glaucoma, age-related macular degeneration, and others. The various end-users are hospitals, specialty clinics, and ambulatory surgery centers. The global ophthalmic medical lasers market size is expected to grow from $1.04 billion in 2021 to $1.12 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The global ophthalmic medical laser market is expected to grow to $1.46 billion in 2026 at a CAGR of 6.8%. The rising incidence of ocular disorders is driving the demand for the ophthalmic medical lasers market. Ocular disorders are the ones that affect vision and eye health in patients of all ages and treatment with lasers helps reshape the eye cornea for better focus, which contributes to an improved vision. According to a publication by the World Health Organization (WHO) in October 2019, 1 billion people have lost the vision that could have been kept in check, including those with mild to extreme distance vision deficiency to blindness due to untreated refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal distortion (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million) as well as close vision loss (826 million) induced by unaddressed presbyopia. The rise in the incidence of ocular disease that requires laser treatment contributes to the growth of the ophthalmic medical lasers market. The availability of alternative therapies for vision correction is expected to hinder the ophthalmic medical lasers market. The alternatives for lasers in ophthalmology include using a lens for correcting the vision using techniques such as Phakic Intraocular Lens Implants, and Refractive Lens Exchange Surgery. According to the statistics by the American Society of Cataract and Refractive Surgery (ASCRS), 95% of patients who choose to have a standard IOL procedure, which is considered safe for cataract surgery, experience fully restored vision. Therefore, the availability of alternative therapies to correct vision is expected to hamper the ophthalmic medical lasers market. Companies are investing in manufacturing devices that incorporate next-generation technology to treat ocular diseases. Following the trend, in October 2019, Norlase had entered the ophthalmic market with a new single spot laser called LEAF, which is an ultra-compact green laser photocoagulator. In Feb 2020, IRIDEX Corporation, an innovative ophthalmic laser-based medical products provider for the treatment of glaucoma and retinal diseases has launched the second generation of the MicroPulse P3® Device that gives greater stability, visualization, coupling, and fit. In June 2020, Lumibird, a leading France-based laser technologies specialist acquired all of Ellex's laser and ultrasound activities for $70 million. Through this acquisition, the Lumibird group aimed to strengthen its current product portfolio with complimentary high-quality products, and extend its geographical presence, particularly in the US and Japan, as the acquisition included Ellex’s R&D and production site in Adelaide and the commercial subsidiaries based in Australia, Japan, the US, France, and Germany. Ellex is a leading Australia-based ophthalmic equipment manufacturer. Major players in the ophthalmic medical lasers market are Alcon Laboratories Inc, Abbott Medical Optics Inc, Carl Zeiss Meditec AG, Bausch & Lomb Incorporated, Topcon Corporation, Ziemer Ophthalmic Systems AG, IRIDEX Corporation, NIDEK Co Ltd, Lumenis Ltd, and Johnson & Johnson. North America was the largest region in the ophthalmic medical lasers market in 2021. Asia Pacific was the second largest region in the global ophthalmic medical lasers market. The regions covered in the global ophthalmic medical lasers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ophthalmic medical lasers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global ophthalmic medical lasers market is segmented - 1) By Product: Diode Lasers, Femtosecond Lasers, Excimer Lasers Aromatherapy, ND:Yag Lasers, Others 2) By End-User: Hospitals, Specialty Clinics and Ambulatory Surgery Centres 3) By Application: Refractive Error Correction, Cataract Removal, Diabetic Retinopathy, Glaucoma, Age-Related Macular Degeneration, Others

The diagnostic and monitoring ophthalmic devices and equipment market consist of sales of diagnostic and monitoring ophthalmic devices and equipment and related services. Diagnostic and monitoring ophthalmic devices and equipment are used for the diagnosis and monitoring of diseases related to the retina and cornea by measuring affix lenses and refractive errors. These devices also help to identify the power of an intraocular lens (IOL) and analyze the visual field. The main product types in the diagnostic and monitoring ophthalmic devices and equipment are optical coherence tomographers, ophthalmic ultrasound imaging systems, fundus cameras, ophthalmoscopes, keratometers, specular microscopes., tonometers, slit lamps, retinoscopes, and others(dioptometers, optotype projector, perimeters, and biometers, pachymeters, autorefractors/phoropters, corneal topographers, wavefront aberrometer, wavefront aberrometer). Fundus cameras are used for diagnosing and monitoring and are used in imaging of a rear eye. These are used in various applications such as retinal evaluation, glaucoma detection, and monitoring, surgical evaluation, general examination, intraoperative devices, and refraction equipment. The diagnostic and monitoring ophthalmic devices are used in hospitals, clinics, diagnostic laboratories, and research centers. The global diagnostic and monitoring ophthalmic devices and equipment market size is expected to grow from $2.25 billion in 2021 to $2.49 billion in 2022 at a compound annual growth rate (CAGR) of 11.0%. The global diagnostic and monitoring ophthalmic device market size is expected to grow to $3.55 billion in 2026 at a CAGR of 9.2%. The increasing prevalence of eye diseases is expected to drive the demand for diagnostic and monitoring equipment in the ophthalmic devices industry. The rise in surgeries associated with eye disorders like cataracts, diabetic retinopathy, and glaucoma has increased the demand for diagnostic and monitoring ophthalmic devices. According to a study, 4 out of 10 people have been found to have cataract disease in their early stages of life. The absolute number of cataract blind in 2020 would be 8.25 million, due to a substantial increase in the population above 50 years in India. Lack of awareness about eye diseases mostly in developing and underdeveloped nations is expected to hinder the growth of the diagnostic and monitoring ophthalmic devices and equipment market. BLack of awareness of eye disorders results in fewer patients going for a routine eye check-up or diagnosis of the disorder, impacting the demand for diagnostic and monitoring ophthalmic equipment. According to a study conducted by the vision impact institute, 42% of drivers in India have vision-related problems leading to 59% of road accidents. According to WHO, 550 million people in the country need vision correction and to achieve this, companies should increase awareness & provide vision care to people living in rural and semi-urban areas. Advanced eye care medical devices equipped with artificial intelligence (AI) and machine learning (ML) are the new trends in the ophthalmic diagnostic and monitoring equipment market. AI and ML-equipped medical devices can not only quickly interpret the eyes of the patient with better accuracy but also recommend a suitable treatment for the patient. Deepmind, a subsidiary of Alphabet Inc. has developed an AI-based system that is capable of analyzing 3D retinal OCT scans for detecting severe diseases like glaucoma, retinopathy, macular degeneration, and 50 different types of eye diseases at their early stage. The increased regulatory compliance norms by the Food and Drug Administration (FDA) and the Medicines and Healthcare products Regulatory Agency (MHRA) have impacted the market making the approval/regulation process for diagnostic and monitoring ophthalmic devices strenuous. Complex and tedious premarket and postmarket submissions by FDA may increase the product release time and incur heavy costs on device development. The MHRA considers a medical device to be any equipment used for the diagnosis or treatment of disease, or for monitoring patients and recommends Yellow card reporting for ophthalmic devices and products as well. All the adverse events and the causes for any untoward incidents must be reported in the yellow card, allowing the equipment to be monitored thoroughly for enhanced patient safety. In July 2020, Topcon, a company manufacturing optical equipment based in Japan acquired Elektron Eye Technology for an undisclosed amount. This acquisition includes the products of the Henson line of perimetry such as Henson 9000 and 7000 that perform suprathreshold glaucoma screening and the product manufacturing will remain in the UK. Elektron Eye Technology is a company operating in the diagnostic and monitoring of ophthalmic devices based in the UK. Major players in the diagnostic and monitoring ophthalmic devices and equipment market are Carl Zeiss Meditec, Alcon, Bausch + Lomb, Haag-Streit, Topcon Corporation, Nidek Co. Ltd, Abbott Medical Optics, Johnson and Johnson Vision Care, Essilor International S.A, and Ziemer Ophthalmic Systems AG. North America was the largest region in the diagnostic and monitoring ophthalmic devices and equipment market in 2021. Asia Pacific was the second largest market in the global diagnostic and monitoring ophthalmic equipment market. The regions covered in the global diagnostic and monitoring ophthalmic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the diagnostic and monitoring ophthalmic devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The global diagnostic and monitoring ophthalmic devices and equipment market is segmented - 1) By Product Type: Optical Coherence Tomographers, Ophthalmic Ultrasound Imaging Systems, Fundus Cameras, Ophthalmoscopes, Keratometers, Specular Microscopes, Tonometers, Slit Lamps, Retinoscopes, Others (Dioptometers, Optotype Projector, Perimeters, and Biometers, Pachymeters, Autorefractors/Phoropters, Corneal Topographers, Wavefront Abberometers, Wavefront Abberometers) 2) By End-User: Hospitals, Clinics, Diagnostic Laboratories, Research Centers 3) By Application: Retinal Evaluation, Glaucoma Detection and Monitoring, Surgical Evaluation, General Examination, Intraoperative Devices, Refraction Equipment

The high potency APIs (HPAPI) market consists of sales of high potency active pharmaceutical ingredients and related services. High potency APIs are extremely effective in pharmacologically active ingredients. These are highly specific in their action and offer significant efficiency even at the low daily therapeutic doses. HPAPIs are used in formulations for high potent drugs, owing to their ability to target precise disease cells including cancer cells. The main types of HP (High Potency) APIs are innovative HPAPI and generic HPAPI. The various types of synthesis include synthetic HPAPI and biotech HPAPI that are used for therapeutic application such as oncology, hormonal disorder, glaucoma and other therapeutic applications (respiratory disorders, CVD, diabetes, cosmetology and erectile dysfunction). Glaucoma is a group of eye diseases that affect the optic nerve, which is essential for good vision. The global High Potency APIs market size is expected to grow from $22.61 billion in 2021 to $24.53 billion in 2022 at a compound annual growth rate (CAGR) of 8.5%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The HP APIs market is expected to reach $34.04 billion in 2026 at a CAGR of 8.5%. The rising number of cancer cases coupled with increasing sales of cancer drugs contributed to the growth of the high potency APIs market. Rising incidence of cancer is resulting in increasing R&D about anticancer drugs which in turn is propelling the demand for high potency APIs market. According to the World Health Organization’s International Agency for Research on Cancer (IARC) report, the cancer burden is expected to increase 29.5 million new cases and 16.4 million deaths by 2040, globally. Moreover, 70% of deaths from cancer occur in middle and low-income countries. Therefore, the growing incidence of cancer cases is projected to upsurge revenues for the high potency APIs market. High investment requirements are anticipated to restrain the growth of the market over the coming years. The high potency APIs are cytotoxic, which are harmful to human cells. Moreover, they carry significant handling challenges including the requirement for specialized equipment to avoid cross-contamination, product protection, and to ensure environment and operator safety. Additionally, the requirement for appropriate process design and the constant evolution of technologies and industry standards, specialized containment facilities to facilitate the safety of the employees requires huge financial support. Therefore, large investment requirement acts as a major challenge for the growth of the high potency APIs market. The companies dealing in the high potency APIs market are focusing on strategies such as production facility expansion and mergers & acquisitions to maintain their position in the competitive business environment. For instance, in June 2019, a Swiss-based chemicals and biotechnology company Lonza declared an investment in the expansion of HPAPI capability at its location in Visp, Switzerland, by connecting additional 4-m3-scale and multi-purpose manufacturing lines. The expansion enhances the current manufacturing ability of the business from the laboratory to the broad commercial level and further includes the resulting utilization of capacity in existing manufacturing facilities. In January 2020, Piramal Pharma Solutions (PPS) declared an expenditure of $19 million to enhance its operation in Aurora, Ontario, Canada, with an additional 975 m2 of production space in a new wing for API production, including the production of HPAPI for potent compounds down to an OEL of 1 mcg/m3. In August 2019, Permira Funds, a U. K based global investment firm, acquired Cambrex Corporation for USD 2.4 million. Through this acquisition Permira Funds will provide financial support to Cambrex Corporation for its expansion of product manufacturing and analytical testing services. Cambrex Corporation is a life sciences company that offers products and services for small molecule active pharmaceutical ingredients with its headquarters in USA. Major players in the high potency API (HPAPI) market are Eli Lily and Company, Novartis AG, Bristol-Myers Squibb Company, Roche Diagnostics Ltd., Sanofi, Hospira Inc., BASF SE, Covidien plc, Boehringer Ingelheim GmbH, Merck & Co. Inc., Sigma Aldrich Corporation, Bayer AG, Carbogen Amcis AG, Lonza, Teva Pharmaceutical Industries Ltd., Pfizer Inc., Mylan Inc., AbbVie, AstraZeneca plc and GlaxoSmithKline PLC. North America was the largest region in the high potency APIs (HPAPI) market in 2021. The Middle East is expected to be the fargest growing region in the forecast period. The regions covered in the HP APIs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the high potency APIs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global HP (high potency) APIs market is segmented - 1) By Type: Innovative HPAPI, Generic HPAPI 2) By Synthesis Type: Synthetic HPAPI, Biotech HPAPI 3) By Therapeutic Application: Oncology, Hormonal Disorder, Glaucoma, Other Therapeutic Applications (Respiratory Disorders, CVD, Diabetes, Cosmetology, and Erectile Dysfunction)