Diagnostics

InvestFrost Healthcare - European Ophthalmic Surgical Devices Market Outlook

Publication Date	March 2009
Publisher	Frost & Sullivan
Product Type	Report
Pages	42
ISBN Number	not applicable
Product Code	FRS00023

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Government Initiatives Spearhead Growth in the European Ophthalmic Surgical Devices Market

The European ophthalmology market has witnessed noteworthy changes during the past few years, making significant strides both in terms of devices and surgical procedures. The market has been on a steady evolutionary path, progressively transforming surgeries from invasive, time consuming and painful procedures into minimally invasive or noninvasive ones. Governments in the region have adopted a proactive stance and strategies underway will uplift the future prospects for the ophthalmic surgical devices market. Over 75 percent of patients undergoing ophthalmic surgeries are in the above 40 age group. he European countries have a huge middle-aged population cohort that is more prone to eye related ailments,notes the analyst of this research service. onsidering the age of the potential population, investments in the ophthalmic surgical devices market could be profitable in the near future. Smoking is the most common cause of visual impairment in Europe. Other factors such as extended working hours and a large percentage of clinically obese people will position Europe as a lucrative investment venue. Obesity is strongly linked with four critical eye ailments, namely glaucoma, age-related macular degeneration (ARMD), diabetic retinopathy, and cataract. Owing to the habits and lifestyles of the European population, the number of patients with eye disorders is likely to escalate, substantially expanding the market for ophthalmic surgical devices.

Vision 2020 Provides Booster Rocket Support for the Market

The prevalence rate of blindness in Europe is approximately 7 percent of world figures, and within this percentage, Eastern European countries are more affected than Western Europe. The implementation of Vision 2020, a global initiative for the elimination of avoidable blindness, is expected to provide a shot of adrenalin to the ophthalmic devices market by opening a new avenue for investment. During the early stages of Vision 2020, emphasis will be placed on training of ophthalmologists in the Eastern European countries. The next stage would focus on expediting the availability of ophthalmic medications and surgical equipment throughout Europe. he annual global cost of unaccommodated blindness and low vision in 2000 was $40 billion, and if left unattended, this figure is projected to rise to $110 billion per year by 2020,says the analyst. owever, with the successful implementation of Vision 2020, the annual loss of productivity of individuals with visual impairment is projected to rise only to $58 billion in 2020. Prominent among the issues facing the market is the problem of reimbursement. This can be addressed by lobbying with the government for initiatives in order to enable the market to achieve forward momentum. Frequent upgradations of the existing system with the launch of newer technologies coupled with low awareness levels of surgical procedures are also constraining market development. As a high level of unmet needs exists in this segment, opportunities are proliferating for participants. Although the target patient population diagnosed with various eye disorders is huge, the actual percentage of the population undergoing surgeries is negligible. Awareness campaigns could be conducted in order to increase the periodicity of eye tests, as a majority of the European population remains unaware of their eye ailments. Frequent eye tests could expand the base of the potential population that may eventually resort to the surgical option.