This is in response to several requests for additional detail on the ophthalmology market (including by one job seeker!). The worldwide ophthalmology market, comprised of many different device, drug and diagnostic segments spanning vision correction and various eye diseases, is a robust market with good growth expected despite the prevailing challenges in the economy.
Although a fair amount of consolidation has taken place among ophthalmology technology companies in the last half decade, a number of entrepreneurial firms have surfaced with promising innovations that will keep the specialty vibrant with possibility. The company profile (in Report #G125) include reference to the acquisitions taking place at some of the sector’s largest firms as well as the early stage developments that are taking place behind the scenes at venture capital backed companies.
In addition to the large and the small, many of the mid-sized companies that support the ophthalmologist continue to iterate and refine essential tools that will make surgical interventions faster, easier, more accurate and more affordable.
The ophthalmic medical device market can be organized into three major segments; (1) Diagnostics, which includes hand-held office-based diagnostic instruments, (2) Cataract surgery products including intra-ocular lenses, viscoelastics and phacoemulsification systems, and (3) Refractive surgery products – Excimer and Femtosecond lasers, microkeratomes and usage-based procedure cards. In addition to devices, the ophthalmic market includes pharmaceuticals and eye care products such as contact lenses and solutions.
The worldwide ophthalmic products market exceeds $22 billion (US) and is growing at more than 10% per year. Without the inclusion of consumer eye care products, the ophthalmic products market approximates $17 billion in 2006.
Source: "Products, Technologies, Markets and Opportunities in Ophthalmology Surgical, Device and Drug Markets Worldwide, 2007," Report #G125, MedMarket Diligence.