A recent study conducted by Future Market Insights (FMI) has shed light on the optimistic trajectory of the Global Age-Related Vision Dysfunction Industry. The report anticipates a robust Compound Annual Growth Rate (CAGR) of 3.7% from 2023 to 2033, culminating in a market valuation of US$130 Billion by the end of the assessment period.
One of the key drivers fueling the market’s expansion is the escalating incidence of visual impairment and blindness worldwide. The study underlines the critical role played by these factors in propelling the growth of the age-related vision dysfunction market on a global scale.
Moreover, the prevalence of various eye-related ailments, including diabetic eye diseases, glaucoma, cataracts, and age-related macular degeneration, is on the rise. This surge in eye disorders is anticipated to drive the demand for assistive technology in age-related vision dysfunction, further contributing to the market’s growth.
According to a United Nations (UN) estimate, the worldwide population of people aged 60 and more was around 962 million in 2017, with a projected increase to 2.1 billion by 2050 According to the National Federation of the Blind, an estimated 3,171,100 persons aged 65 and older in the United States had visual impairment in 2016. All these factors are likely to drive the age-related vision dysfunction market during the forecast period
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Key Takeaways from the Global Age Related Vision Dysfunction Industry Study
- FMI projects the global Age Related Vision Dysfunction market to expand at a 3.7% value CAGR by 2033
- The global Age Related Vision Dysfunction market is estimated at a market value of US$ 90 Billion
- The global Age Related Vision Dysfunction market is expected to garner a market value of US$ 130 Billion
- As per Future Market Insights, Asia Pacific is expected to grow at a CAGR of 3.5% in the assessment period 2023-2033.
- As per Future Market Insights, North America is expected to grow at a CAGR of 3.6% in the assessment period 2023-2033.
- As per Future Market Insights, Europe is expected to grow at a CAGR of 3.3% in the assessment period 2023-2033.
- The glaucoma segment is expected to hold the largest market share for Age-Related Vision Dysfunction in the forecast period 2023-2033
“Increased government measures to develop assistive technology and supply assistive technology equipment to the disabled is also predicted to fuel growth in the worldwide age related vision dysfunction market.”Says an analyst at FMI
Global Age Related Vision Dysfunction Industry Competition
- Aerie Pharmaceuticals
- Santen Pharmaceutical
- Sun Pharma Advanced Research Company Limited
- Bausch + Lomb
- D Western Therapeutics Institute
- Novartis
- AbbVie
- Eyenovia
- Orasis Pharmaceuticals
- IVERIC Bio
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Recent Developments in the Global Age Related Vision Dysfunction Industry:
- In May 2020, AbbVie Inc. finalised the strategic acquisition of Allergan plc. As a result of this purchase, AbbVie Inc. has positioned itself as a market leader in the age related vision dysfunction
Key Segments Profiled in the Global Age Related Vision Dysfunction Industry Survey
Global Age Related Vision Dysfunction Industry by Dysfunction Type:
- Cataract
- AMD
- Glaucoma
- Presbyopia
Global Age Related Vision Dysfunction Industry by Drug:
- Rocklatan
- Eybelis Ophthalmic Solution
- Xelpros
- Rhopressa
- Vyzulta
- Glanatec
- Simbrinza
- Tapcom/DE-111
- Azarga/Azorga
- Combigan
- Lucentis
- Eylea
- Beovu
Global Age Related Vision Dysfunction Industry by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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