Ophthalmology medical devices and drugs market to be worth $52.6bn by 2017

A new report by MarketsandMarkets has found the ophthalmology medical devices and drugs market is expected to reach $52.6 billion (31.56 billion pounds) by 2017.
 
The major companies studied in the analysis include Allergan, Merck and Co, Pfizer, Roche Holdings AG, Abbott Medical Optics and Alcon.

According to the report, the global ophthalmology market suffered during the international financial crisis between 2008 and 2009, but has been steadily recovering since, primarily due to the world's aging population.

Other factors in the expansion include a large pool of potential patients with eye diseases and increased focus on combination therapies of drugs.

However the research also identified some threats – mainly the lack of awareness of eye diseases.

Geographically, North America is set to remain as the the largest market for ophthalmology drugs and devices, closely followed by Europe and Asia, while the report also assessed the growth opportunities in the rest of the world.