Analysis of Ophthalmological Industry Essay examples

2910 Words Jul 3rd, 2012 12 Pages
An Assignment on: An Analysis of Ophthalmological Industry

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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
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The vision care category, which consists of spectacle lenses and contact lenses, accounted for 85% of the overall ophthalmic devices market in 2009, making it the largest category within the ophthalmic devices market. Historically the market grew at a rate of 5.9% in the last seven years. The vision care market is expected to be driven by technological advances in lenses materials, the fashionable aspect of the latest contact and spectacle lenses and a huge population base to wear them.

The US currently represents the biggest regional market in the global ophthalmic device industry and is set to reach 27% market share by 2016, at which time it should be worth $7.6 billion in value reports GBI Research. Cataract surgery is the number-one surgical procedure carried out in the US, with 3 million procedures performed annually. According to Medical News Today, more than 20 million individuals over 40 years of age in the US have cataract and over 50% of the population could suffer from the condition by the age of 80.

Figure 1.1
Indian Scenario
For India’s ophthalmic industry and its estimated 15,000 ophthalmologists, the changing face of Indian society represents both a challenge and an opportunity.
Nowhere is this more evident than in the exponential growth of cataract surgery in India over the past decade. Indian surgeons performed an estimated 0.5 million cataract surgeries in the early 1980s.This increased to 4.8 million in 2006, 90

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