Market Trends of India Ophthalmology Devices Industry
The Glaucoma Surgery Devices Segment is Expected to Hold A Significant Share in the Market Over the Forecast Period
Glaucoma surgery devices are used in the treatment of glaucoma disorder. Glaucoma disorder is characterized by progressive and irreversible damage to the optic nerve and is the leading cause of irreversible blindness in India.
According to the National Health Portal of India in March 2022, glaucoma is the leading cause of irreversible blindness in India, with at least 12 million people affected and nearly 1.2 million people blind from the disease. Thus, the number of patients in India suffering from glaucoma is increasing with the growing population. Such patients undergo surgery to treat glaucoma and are contributing to the rising demand for glaucoma surgical devices, including glaucoma drainage devices. Glaucoma drainage devices are the most used second-line surgical interventions for glaucoma.
In addition, the introduction of micro-invasive glaucoma surgery (MIGS) has allowed for improved management of patients with mild to moderate glaucoma. The field of MIGS has expanded rapidly in the last decade, owing to the ability of ophthalmic surgeons to tailor surgical approaches. This has augmented the usage of MIGS surgery devices in India. MIGS devices provide reduced surgery time, shorter recovery periods, affordability, and a low risk of post-surgical complications.
Moreover, presently, Selective Laser Trabeculoplasty (SLT) and Argon Laser Trabeculoplasty (ALT) are the commonly preferred glaucoma procedures in India, indicating a consistent demand for glaucoma surgery devices used in these procedures in the country. Therefore, the growth of the market is expected to be fueled by the growing demand for glaucoma surgery devices brought about by the aforementioned causes.
Spectacles Segment is Expected to Hold A Significant Share in the Market Over the Forecast Period
The major factors driving the growth of the spectacles segment are the increasing awareness among people about the use of spectacles, the rising prevalence of eye disorders, and the increasing geriatric population.
The rising prevalence of myopia and hypermetropia is the major factor driving the growth of the segment. For instance, according to an article published by PubMed Central in January 2022, 2 school-based studies were conducted in Delhi which included 5 to 19-year-old children, which documented a prevalence of myopia from 2.5% to 13%. The third population-based study noted a prevalence of 7.4% in 5 to 15-year-old subjects.
Moreover, according to an article published by the Asian journal of pharmaceutical and clinical research in April 2022, a cross-sectional study was conducted in India which showed that the cumulative prevalence of refractive errors was 35.21% among the students. The distribution among the type of refractive errors was: Myopia - 65.07%, Hypermetropia - 14.89%, and Astigmatism - 20.04%, and the prevalence among the male and female students was 34.91% and 35.55%, respectively. Hence, the rising prevalence of refractive disorders like myopia and hypermetropia will increase the adoption of spectacles, thus driving the growth of the segment.
Furthermore, product launches by key market players are also boosting the segment growth. For instance, in July 2022, EyeMyEye launched one of India's first ever range of color blind glasses.
Hence due to the aforementioned factors, the spectacles segment is expected to experience growth during the forecast period of the study.
