The Global Ophthalmoplegia Market is one of the emerging markets owing to the rising prevalence of ocular motility disorders. Ophthalmoplegia refers to paralysis of one or more of the six extraocular muscles that control eye movements. It can cause abnormalities like strabismus, ptosis and diplopia. The market comprises products like artificial tears and lubricant eye drops, corticosteroids, anticholinesterases and immunopressant drugs that help in treating disorders associated with ocular motility.
The ophthalmoplegia market is estimated to be valued at USD 510 Mn in 2024 and is expected to reach USD 850 Mn by 2031, growing at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Key Takeaways
Novartis AG, Allergan, Akorn Inc., copyright Inc., Bausch and Lomb are major players in the ophthalmoplegia market. Novartis AG offers therapies like Xiidra eye drops and Rapaflo capsules. Allergan's Botox injection is widely used to treat various ocular motility disorders.
Rising prevalence of neurological disorders, diabetes and infections associated with abnormalities in ocular movements is fueling the demand for therapies to treat ophthalmoplegia. According to WHO, globally 50 million people were estimated to be blind or visually impaired due to diabetes in 2020.
The Global Ophthalmoplegia Market major players are developing novel drug delivery methods and combination therapies to improve treatment effectiveness. Bausch and Lomb is developing MiLo, a minimally invasive approach for strabismus surgery using pliable silicone elastomer implants.
Market trends
Combination therapies: Combining anticholinesterases, immunomodulators and corticosteroids is gaining popularity to maximize treatment benefits with minimal side effects.
Increased adoption of minimally invasive surgeries: Minimal incision strabismus surgeries like MiLo are becoming more common compared to conventional external surgical procedures due to faster recovery.
Market Opportunities
Undiagnosed population in developing nations: Lack of awareness and proper healthcare infrastructure results in many cases of ophthalmoplegia going undiagnosed in developing countries, representing an opportunity.
Targeted drug delivery: Development of novel targeted drug delivery systems can significantly improve treatment effectiveness by ensuring sustained and localized drug release.
Impact of COVID-19 on Global Ophthalmoplegia market growth
The COVID-19 pandemic has significantly impacted the global ophthalmoplegia market. During the initial phase of the pandemic, healthcare resources were primarily focused on treating COVID-19 patients which led to postponement of non-emergency ophthalmic procedures and appointments. This resulted in a decline in demand for ophthalmoplegia drugs and treatments in 2020. However, with increased awareness about managing chronic eye conditions, the market is recovering gradually. The demand for teleophthalmology and digital health solutions also increased during the pandemic as patients preferred virtual consultations over in-person visits to avoid infection risk.
In the post-COVID era, the market is expected to witness steady growth. Manufacturers are focusing on strengthening supply chain operations to ensure continuity of supplies. They are also investing in R&D of novel drugs to expand treatment options. With recovery of healthcare systems from pandemic pressure, regular screening and management of ophthalmoplegia cases is anticipated to regain momentum. Teleophthalmology could remain an important component of eye care delivery approach even post-pandemic. Drug makers need to device strategies ensuring affordable access to therapies as some patients faced financial distress during the pandemic period.
North America dominates global Ophthalmoplegia market in terms of value
North America has been the largest regional market for ophthalmoplegia globally. The growth in this region can be attributed to growing elderly population base prone to neurological disorders, well-established healthcare infrastructure and higher adoption of advanced treatment technologies. For example, the US spends over USD 200 billion annually on prescription drugs with sizeable demand for ophthalmic drugs also. Rising chronic disease prevalence especially strokes have been fueling ophthalmoplegia cases in North America pushing up diagnostic rates and treatment uptake. Favorable reimbursement structure further aids patient access to high-cost therapies. With continued focus on innovative drug development in countries like the US and copyright, North America is expected to remain the most lucrative market.
Asia Pacific emerging as fastest growing region for Global Ophthalmoplegia market
Asia Pacific region has been witnessing rapid expansion of ophthalmoplegia market majorly attributed to booming economies of China and India. Growing medical tourism industry coupled with emergence of healthcare hubs has amplified focus on eye care across Asia Pacific. With evolving lifestyles and aging population across major Asian countries, the prevalence of neurological and chronic eye diseases has also surged presenting numerous growth opportunities. In addition, improving access to healthcare through universal coverage programs, rising disposable incomes and expansion of diagnostic capabilities are fueling Asia Pacific market growth. Investments by international brands, increased awareness, presence of low-cost therapeutics and expanding exports are some key trends propelling Asia Pacific to the position of fastest growing regional market for ophthalmoplegia globally.
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