Japan Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Japan Ophthalmic Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Japan Ophthalmic Devices & Drugs Market is expected to grow with a CAGR of 2% during the forecasted period. Certain factors that are driving the growth of the market include demographic shift, the impact of the prevalence of eye disease, technological advancements in the field of ophthalmology, and the rising geriatric population. The aging population is expected to burden all areas of healthcare, and ophthalmologists provide approximately 90% of their procedure-based services to seniors. As per the statistics published by the National Institute of Health 2020, in Japan, the leading cause of visual impairment is glaucoma, diabetic retinopathy, degenerative myopia, age-related macular degeneration, and cataract. In addition according to the Global Health Data Exchange, the prevalence of age-related macular degeneration is around 83,386 in 2018. The number is estimated to grow by 85,111 in 2019 Hence, the rising prevalence of eye disorders will lead to the growing demand for drugs and devices for diagnosis and treatment.

Key Market TrendsCataract Segment is Expected to Show Better Growth in the Forecast Years

Based on disease, the market is segmented into glaucoma, cataract, age-related macular degeneration, inflammatory diseases, refractive disorders and other diseases. As per the Global Health Data Exchange, it is estimated that the prevalence of cataract in Japan is 1,231,522 in 2018. It is further increased by 1,266,085 in 2019. Cataract surgery remains the most effective way to help restore vision for people with cataracts. In addition, the prevalence of Glaucoma diseases is also rising in Japan. For instance according to the Global Health Data Exchange there are around 238,019 new cases of glaucoma reported in the year 2019. Hence, with the rising burden of eye disease in Japan, the market is expected to grow in the forecast period.

Competitive Landscape

The Japan Ophthalmic Devices & Drugs Market is fragmented competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Alcon Inc., Bausch Health Companies Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson, Nidek Co. Ltd, Topcon Corporation, Ziemer Group AG

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• The market estimate (ME) sheet in Excel format
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