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- Number of pages : ~ 40 pages
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- Last update : 10/05/2022
Summary and extracts
1 Market Overview
1.1 Definition and presentation
Ophthalmology is a branch of medicine and surgery that deals with the diagnosis and treatment of eye disorders. Ophthalmologists are authorized to prescribe drugs to treat eye diseases, implement laser therapy and perform surgery when necessary. They can also participate in academic research on the diagnosis and treatment of eye disorders. The ophthalmic market can be segmented by product (drugs and devices), disease (including glaucoma, cataract, age-related, and others), and end user (hospitals, medical institutions, research organizations, and healthcare providers).
The global ophthalmology market is expected to grow at a CAGR of 6.52 percent to reach $81.05 billion by 2027.
In the coming years, Europe is expected to have the second largest market share in the ophthalmology market, thanks to an increasing number of manufacturers investing more resources in research and development of new treatments. In Europe, Italy is considered the fourth largest country based on ophthalmology market share, after the United Kingdom, Germany and Spain. The ever-growing geriatric population is a major driver of the ophthalmology market. it is well known that the elderly are more vulnerable to developing eye-related conditions such as glaucoma and dry eye, driving demand for ophthalmic products.
Constant advances in medical technology, such as the introduction of innovative products that are more scalable and effective in treatment, are driving the growth of the global ophthalmology market. In addition to this, the ophthalmic market's ability to expand is severely hampered by the shortage of qualified professionals and the high cost of ophthalmic instruments used for diagnosis. In Italy, a total of 7,624 physicians specialize in ophthalmology: this number is insufficient for a population of nearly 60 million. In addition, the rapid growth in the number of elderly people within the population generates an increase in demand for ophthalmic examinations and products.
Considering Italian manufacturers of ophthalmic devices and drugs, the most relevant are Fimas Oftalmologia, which specializes in providing medical centers with technological devices, and Omnivision, whose business is based on the production of drugs for ophthalmic purposes.
1.2 An environment conducive to global market growth
The global ophthalmology market size has been estimated at $**.** billion in ****, is projected to reach $**.** billion in ****, and is expected to grow at a CAGR of *.**% to reach $**.** billion by ****.[***]
Ophthalmology is the ninth most important therapeutic area in the world with *** products in development, and six of the top eight ...
1.3 The Italian market
The ophthalmic market in Italy recorded a turnover of *** million euros in ****, *** million of which were in the retail channel (***) in the hospital channel, an overall market growth of *.* percent over ****.[***]
In Italy there are *,*** active doctors specializing in ophthalmology, an increase of about ** percent compared to **** where **** were active [***].
However, ...
1.4 International Trade
For the analysis of international trade, the following section will refer to the data reported by the UN Comtrade database under the code"****** Eyeglasses for corrective purposes."
As we can see, Italy is a strong importerof eyeglasses for corrective purposes. This is partly in contrast to what is happening in the ...
2 Demand analysis
2.1 Determinants of demand
The number of people in Italy with vision problems has been rising sharply in the utmost years, and by **** ** out of every *** people have eye problems, of whom about ** percent are under ** years old and ** percent are ** and older. [***].
The most common eye disorders certainly include those related to near vision, ...
2.2 Expenditure on ophthalmic care in Italy
In Italy the ratio of public health spending to Gross Domestic Product (***) in **** was * percent and in Europe it was * percent; by **** the figure for our country had dropped to *.* percent while that for the entire Old Continent had risen to *.* percent. Opposite was the trend on private healthcare spending, which ...
3 Market structure
3.1 A concentrated market
The main players in the ophthalmology market are ophthalmologists, but they are supported in their work by orthoptists and opticians, each of whom has a specific task. [***]
Ophthalmologists are medical specialists who must analyze, prescribe and treat patients' eye disorders and diseases.
Orthoptists are medical auxiliaries who have been trained for ...
3.2 Difficulties in making appointments
As described above and as we will also see in section *.*, the number of ophthalmologists is very small when compared with the number of inhabitants in Italy. This results in very high waiting times, with about ** months, a higher figure when compared with other medical professions.
Waiting times for appointments by ...
3.4 Geographic Distribution of Ophthalmologists
Regarding the geographical distribution of ophthalmologists on the Italian territory, we can see that the region with the highest number are Lombardy and Lazio. However, the regions with the lowest ratio of ophthalmologists/inhabitants are Lazio (***).
3.4 Distribution channels
Of the retail products, **.* percent were sold in pharmacies-a positive performance of * percent over the previous year-while *.* percent were dispensed in parapharmacies and *.* percent by large-scale retail trade (***).
In the retail market, artificial tears sold the most with ***.* million euros in sales, followed by eye supplements at **.* million. While, among ethical ...
4 Supply analysis
4.1 The Work of Ophthalmologists
The role of ophthalmologists can be divided into * categories:
Prevention and screening Surgery Diagnosis and treatment
In the area of prevention and screening, ophthalmologists are responsible for preventing various disorders or diseases from which patients may suffer (***).
They can also perform surgical procedures (***) after diagnosing and treating vision defects, glaucoma, ...
4.2 Prices
Prices for eye examinations vary greatly depending on the quality of the service and the degree of specificity of the examination required. On average as of ****, the average cost of a visit was *** euros, a value that has risen sharply compared to previous years, indicative of market polarization.
Average fee for ...
4.3 Advances in ophthalmic instruments
Generally, ophthalmologic examinations begin with a visual acuity check and identification of defects, leading to the use of corrective lenses. Then the ophthalmologist continues the examination via an analysis of the ocular media and then a fundus examination with an ophthalmoscope. [***]
These examinations require the use of several machines:
Rotating consultation ...
5 Regulations
5.1 Regulation
Expenses incurred for eyeglasses and eye examinations incurred throughout the year **** are among the expenses that can be included on the ***/**** Form and entitle the taxpayer to a **% deduction on his/her gross IRPEF tax. For this reason, it is useful to keep the documentation inherent in incurring expenses for prescription ...
6 Positioning of actors
6.1 Segmentation
- Nidek France
- US Ophthalmic
- OPKO Health
- Oftalmica Galileo
- Camo - Centro Ambrosiano Oftalmico
- Ottica Vision SRL
- Carl Zeiss Group
List of charts presented in this market study
- Growth in the number of visually impaired people
- Expanding the market for ophthalmic devices and instruments
- Age-group-specific prevalence estimates for (any) age-related macular degeneration
- Most common vision problems in Italy, per 100,000 population
- Vision defects most common among children, 6 - 13 years old
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Latest news
Zeiss invests 33 million euros in the extension of its Périgny plant - 03/02/2023
- 33 million euro investment to extend Zeiss Périgny plant
- 14,000 m2 building under construction
- First extension in 2020: 8 million euros
- 2,000 m2 of office space in the new building
- Extension will create over 300 jobs
- Work to start in January 2023
- Handover scheduled for January 2025
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