Global Ophthalmic Strips Market: Introduction
Dry eye disease is one of the most frequent ocular morbidities. Increase in incidence rate of keratoconjunctivitis sicca due to pollution and changing environmental conditions is a rising health concern imposing a significant economic burden globally. Ophthalmic strip is used as a diagnostic tool for the detection of dry eye disease. Dry eye disease (DED) is a multifactorial ocular surface disease characterized by symptoms of discomfort, irritation, and visual disturbance.
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Prevalence of dry eye disease
According to UpToDate, Inc., the global prevalence of dry eye disease ranges from 5% to 50%. Based on data from the National Health and Wellness Survey, 6.8% of the adult population of the U.S. (nearly 16.4 million) have been diagnosed with DED. According to the American Journal of Ophthalmology, prevalence of DED ranges from 5% to 34% in individuals over 50 years old. According to the American Journal of Ophthalmology, prevalence of DED ranged from 4.3% among men aged less than 50 years, 4% to 21.6% in men and women aged 48–91 years, and 5% to 14.5% among those aged less than 21 years.
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Rise in eye disorders
The number of people with the most common eye diseases is projected to double between 2010 and 2050. According to the Centers for Disease Control and Prevention, over 4.2 million people in the U.S. aged 40 years and older are legally blind. The National Eye Institute states that proper refractive correction could improve vision among 150 million people in the country. Dry eye disease is more common and accounts for 70% to 90% of cases of AMD and it progresses more slowly than the wet form. An estimated 1.8 million people in the U.S. aged 40 years and older are affected by AMD and an additional 7.3 million with large drusen are at substantial risk of developing AMD. An estimated 20.5 million (17.2%) people in the U.S. aged 40 years and older have cataract in one or both eyes, and 6.1 million (5.1%) have had their lens removed operatively. Globally, 253 million people suffer from visual impairments, of which 36 million people are blind and 217 million are visually impaired. Around 89% of people with visual disabilities live in developing countries.
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North America to Account for Major Share of Global Ophthalmic Strips Market
North America is projected to account for major share of the global ophthalmic strips market during the forecast period. The market in Asia Pacific is anticipated to grow at a rapid pace due to changing environmental conditions, pollution, and increase in incidence rate of lifestyle-related diseases. Rapid increase in patient population in the region has increased demand for tools for rapid diagnosis of dry eye disease. This provides significant opportunities in the ophthalmic strips market in the region. Several emerging market players have established their distribution networks in countries such as China and India, which have low market entry barriers and are relatively untapped, thereby offering high growth potential.
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Key Players Operating in Global Ophthalmic Strips Market
The global ophthalmic strips market is highly consolidated owing to the presence of small number of key players. Leading players operating in the global ophthalmic strips market are:
- Akorn, Incorporated
- Biotech Vision Care
- Amcon Laboratories
- Optitech Eyecare
- HUB Pharmaceuticals, LLC
- Entod Research Cell UK Ltd.
- Gecis, Nomax, Inc.
- Avalon Pharma Private Limited
- Micromed International
- Heil Pharma
- Omni Lens Pvt. Ltd.
- Ophtechnics Unlimited
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