Anophthalmia And Microphthalmia Market Overview:
The global anophthalmia and microphthalmia market can expect a CAGR of 5.8% during the forecast period, reveals Market Research Future (MRFR). The detailed report includes genetic disorders, neurological abnormalities, and facial dysmorphisms as drivers that would have significant roles to play in the growth of the market.
Anophthalmia and Microphthalmia are two physical deformities that directly impact the vision and can cause blindness. The associated medicinal procedures can assist the anophthalmia and microphthalmia market to grow in the coming years. Prevalence of genetic disorders and other abnormalities such as exposure to X-rays, chemicals, drugs, pesticides, toxins, radiation, or viruses, increase the risk of anophthalmia and microphthalmia.
However, the treatment comes with a high price tag, and the reimbursement policy is not so favorable which is why the anophthalmia and microphthalmia market can experience some headwind during the forecast period (2017-2023).
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Anophthalmia And Microphthalmia Market Regional Analysis:
Geographically, the global anophthalmia and microphthalmia market cover namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas is dominating the market with maximum market revenue. Superior infrastructure, better reimbursement policies, technological advantage and heavy investment in research and development are helping the region stay ahead of its peers. Major companies are also based out of this region giving the regional market much-needed advantage.
Europe assumes the second position and is spending much on research & development. However, the APAC has the fastest growing market. The healthcare segment in the region is experiencing overwhelming support from governments and enjoying unprecedented changes. India is emerging as a medical tourism hub, and this could give the regional market substantial advantage.
On the other hand, the MEA is one of the least productive regions owing to huge crisis propagated by blood disorders. Limited screening, people ignoring diseases and poor infrastructural facilities are putting the regional market on the backseat.
Anophthalmia And Microphthalmia Industry Trend:
A presented paper at the 2017 Annual Meeting of the Association for Research in Vision and Ophthalmology (ARVO) recently reveals that a 3-D biocompatible device has been developed that needs only a non-invasive treatment to help children with anophthalmia or microphthalmia.
Researchers from Great Ormond Street Hospital (GOSH) and the University College London (UCL) Great Ormond Street Institute of Child Health (ICH) have developed a gene panel test, Oculome, that can determine the exact gene that causes eye deformity. This would speed up the process of deciding the correct treatment course for anophthalmia or microphthalmia.
Anophthalmia And Microphthalmia Market Segmentation:
The global anophthalmia and microphthalmia market can be segmented by diagnosis, treatment, and end-user.
Based on diagnosis, the global anophthalmia and microphthalmia market can be segmented into the CT scan, MR scan, chromosome analysis, ultrasonography, and others.
Treatment-wise, the global anophthalmia, and microphthalmia market include surgery and others.
Based on end-user, the global anophthalmia and microphthalmia market comprises hospitals & clinics, research centers, and others.
Anophthalmia And Microphthalmia Market Competitive Landscape:
The intense market competition owes all its credit to strategic implementations employed by various market influencers. Strategies include merger, collaborations, acquisitions and other methods that can take the market ahead. For instance, Aerie Pharmaceuticals, Inc.’s collaboration with DSM Biomedical, Inc. can be considered a step forward in terms of research and development which could spur the future growth of the market.
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Some of noteworthy players in the market are Bristol-Myers Squibb Company, NUSAPURE, ALLERGAN, Aerie Pharmaceuticals, Inc., Pfizer Inc., Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc., Novartis AG, Regeneron Pharmaceuticals, Inc., Shire, and Santen Pharmaceutical Co., Ltd., and others.
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