Market Size of Spain Ophthalmology Drugs & Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spain Ophthalmic Devices Market Analysis
The Spain ophthalmology drugs & devices market is expected to grow with a CAGR of 3% during the forecasted period.
The studied market was adversely affected by the pandemic. Various research studies have been published to provide insight into the effect of the pandemic. Ocular-related emergencies in Spain during the COVID-19 pandemic, a multicenter study, published in November 2021, reported a significant decline in an ophthalmological emergency (OE) visits during the pandemic in Spain (75.18%), even though more than half were labeled as non-urgent conditions, indicating a lack of awareness of the truly emergent ocular pathologies among the general public. Another study published in December 2021, named 'Retinal Hemorrhage after SARS-CoV-2 Vaccination' stated that few reports of retinal hemorrhage after other vaccinations have appeared. Recently, there has been a multi-center-based report on cases of retinal hemorrhage in COVID-19 patients in Spain. 36 out of 39 retinal vein occlusion (RVO) cases in COVID-19 patients occurred as the SARS-CoV-2 virus is affecting at-risk eyes, leading to retinal vascular abnormality. Thus, increasing COVID could lead to more complications and thus might increase the growth at some level.
Factors such as increasing eye disorders are expected to increase the market growth. An article titled 'The Prevalence of Myopia in Children in Spain: An Updated Study in 2020' published in November 2021 mentioned that the prevalence of myopia in Spain in children between 5 and 7 years old increased significantly between 2016 and 2020., which is the most common refractive error. Ophthalmology drugs & devices have been proven to be effective for diagnosing severe myopia. Thus, the increasing number of myopia cases in the country is expected to drive the adoption of ophthalmology drugs & devices which is expected to drive the growth of the studied market. Similarly, another report published in May 2021, named 'Validation of Automated Screening for Referable Diabetic Retinopathy With an Autonomous Diagnostic Artificial Intelligence System in a Spanish Population' stated that compared to manual grading by ophthalmologists, the autonomous diagnostic AI system had high sensitivity (100%) and specificity (82%) for diagnosing referable diabetic retinopathy (RDR) and macular edema in people with diabetes in a screening program. Hence, it provides insight into upgrading the infrastructure to achieve higher efficiency. Thus, the abovementioned factors are expected to increase market growth.
However, the higher cost of ophthalmic devices and treatment is expected to hinder the market growth.
Spain Ophthalmic Devices Industry Segmentation
As per the scope of the report, ophthalmology devices are the equipment that is used for the diagnosis and treatment of various ophthalmic diseases, such as cataracts, glaucoma, and refractive errors. Ophthalmic drugs are used to treat eye infections and some of the above-mentioned diseases. The Spain Ophthalmology Drugs & Devices Market is Segmented By Product (Devices (Surgical Devices (Intraocular Lenses, Ophthalmic Lasers, and Other Surgical Devices), and Diagnostic Devices), and Drugs (Glaucoma Drugs, Retinal Disorder Drugs, Dry Eye Drugs, Allergic Conjunctivitis and Inflammation Drugs, and Other Drugs), and by Disease (Glaucoma, Cataract, Age-Related Macular Degeneration, and Inflammatory Diseases, Refractive Disorders, and Other Diseases). The report offers the value (in USD million) for the above segments.
| By Product | ||||||||
| ||||||||
|
| By Disease | |
| Glaucoma | |
| Cataract | |
| Age-Related Macular Degeneration | |
| Inflammatory Diseases | |
| Refractive Disorders | |
| Other Diseases |
Spain Ophthalmology Drugs & Devices Market Size Summary
The Spain ophthalmology drugs and devices market is poised for growth, driven by an increasing prevalence of eye disorders such as myopia and diabetic retinopathy. The market, which experienced a downturn due to the COVID-19 pandemic, is recovering as awareness and diagnosis of ocular conditions improve. The rise in myopia cases among children and the adoption of advanced diagnostic technologies, like autonomous AI systems for diabetic retinopathy, are significant factors propelling market expansion. Despite the challenges posed by the pandemic, including a decline in ophthalmological emergency visits, the market is expected to benefit from the growing need for effective ophthalmic solutions. However, the high cost of ophthalmic devices and treatments remains a barrier to market growth.
The market landscape in Spain is competitive and fragmented, with major players such as Alcon Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson, and Nidek Co. Ltd. leading the charge. These companies are actively introducing innovative products to capture market share, as evidenced by Alimera Sciences' launch of Iluvien and Alcon's introduction of Systane Complete. Additionally, increasing awareness campaigns about conditions like glaucoma, which affect a significant portion of the population, are contributing to market growth. The focus on early diagnosis and the adoption of new products are further enhancing the market's prospects, despite the ongoing challenges related to treatment costs.
Spain Ophthalmology Drugs & Devices Market Size - Table of Contents
-
1. MARKET DYNAMICS
-
1.1 Market Overview
-
1.2 Market Drivers
-
1.2.1 Demographic Shift and Impact of Prevalence of Eye Disease
-
1.2.2 Technological Advancements in the Field of Ophthalmology
-
-
1.3 Market Restraints
-
1.3.1 Higher Cost of the Ophthalmic Devices and Treatment
-
-
1.4 Porter's Five Force Analysis
-
1.4.1 Threat of New Entrants
-
1.4.2 Bargaining Power of Buyers/Consumers
-
1.4.3 Bargaining Power of Suppliers
-
1.4.4 Threat of Substitute Products
-
1.4.5 Intensity of Competitive Rivalry
-
-
-
2. MARKET SEGMENTATION (Market Size by Value - USD million)
-
2.1 By Product
-
2.1.1 Devices
-
2.1.1.1 Surgical Devices
-
2.1.1.1.1 Intraocular Lenses
-
2.1.1.1.2 Ophthalmic Lasers
-
2.1.1.1.3 Other Surgical Devices
-
-
2.1.1.2 Diagnostic Devices
-
-
2.1.2 Drugs
-
2.1.2.1 Glaucoma Drugs
-
2.1.2.2 Retinal Disorder Drugs
-
2.1.2.3 Dry Eye Drugs
-
2.1.2.4 Allergic Conjunctivitis and Inflammation Drugs
-
2.1.2.5 Other Drugs
-
-
-
2.2 By Disease
-
2.2.1 Glaucoma
-
2.2.2 Cataract
-
2.2.3 Age-Related Macular Degeneration
-
2.2.4 Inflammatory Diseases
-
2.2.5 Refractive Disorders
-
2.2.6 Other Diseases
-
-
Spain Ophthalmology Drugs & Devices Market Size FAQs
What is the current Spain Ophthalmology Drugs & Devices Market size?
The Spain Ophthalmology Drugs & Devices Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in Spain Ophthalmology Drugs & Devices Market?
Alcon Inc., Carl Zeiss Meditec AG, Essilor International SA, Johnson & Johnson and Nidek Co. Ltd are the major companies operating in the Spain Ophthalmology Drugs & Devices Market.
