Germany’s Ophthalmology Therapeutics market size stood at around USD XX.X billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of around 4.9% during the forecast period.
Germany’s ophthalmology therapeutics market growth attributes due to the prevalence of diabetes and glaucoma in the region. Increasing incidence of vision impairment, Advancements in technology in the field of medicine & g geriatric population across the country along with an increase in disposable income of the people are some of the factors adding up to the industry growth. Also growing awareness among the masses for regular check-ups for early detection of eye disorders is also leading the market growth.
Market Driving and Restraining Factors
An increasing number of people suffering from diabetes and glaucoma, increasing incidence of vision impairment, high innovation, and heavy funding in the development of combination therapies are the major factors driving the growth of this market.
Stringent regulatory framework and unclear reimbursement policies are also acting as hurdles for Industry growth. Lack of awareness about various diseases associated with ophthalmology is also a major restraint hindering Industry growth. Adverse side-effects and long gestation periods in the development of new drugs hamper the market growth.