Market Trends of Japan Ophthalmic Devices & Drugs Industry
This section covers the major market trends shaping the Japan Ophthalmic Devices & Drugs Market according to our research experts:
Glaucoma Segment is Expected to Show Better Growth in the Forecast Years
Since 1950, the proportion of elderly individuals in Japan has increased. According to the National Institute of Population and Social Security Research 2021 report, when the people born in the early 1970s would reach the age of 65 or older in 2040, the percentage might reach as high as 35.3%. The growing older population indicates the future need for ophthalmic devices and drugs, which is likely to contribute to the growth of the market studied. According to a November 2020 article in the Clinical Epidemiology Journal titled "Detection of Glaucoma and Other Vision-Threatening Ocular Diseases in the Population Recruited at Specific Health Checkups in Japan," 12.4% of the population under study had been given a glaucoma diagnosis, and 2.4% had preperimetric glaucoma. Furthermore, macular degeneration (1.2%), diabetic retinopathy (1.0%), chorioretinal atrophy (0.5%), macular epiretinal membrane (2.9%), branch retinal vein occlusion (0.7%), and other retinal illnesses (2.0%) were all prevalent. Thus,
the market is expected to grow due to the burden of diseases.
Collaboration between industry participants and nonprofit groups to increase public awareness is helping the market expand. A project launched by the Japan Glaucoma Society to raise public awareness of glaucoma is Light-up in Green, which Santen Pharmaceutical Co., Ltd. supports in March 2020. Such campaigns increase public awareness of the condition, which increases demand for the medications employed in the treatment and propels market expansion. Collaboration between market participants and the introduction of new items both help the market grow. Aerie Pharmaceuticals, Inc. and Santen Pharmaceutical Co., Ltd., for example, signed into an exclusive research and commercialization deal for Rhopressa and Rocklatan in Japan in October 2020. This arrangement also included rights for several other Asian nations. These agreements are accelerating the market's expansion. Thus, the above-mentioned factors are expected to increase market growth.
