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Global Ophthalmoplegia Market to Flourish Due to Rising Prevalence of Eye Diseases

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Global Ophthalmoplegia Market to Flourish Due to Rising Prevalence of Eye Diseases


The global ophthalmoplegia market is witnessing significant growth with rising prevalence of eye diseases such as thyroid eye disease, myasthenia gravis, and diabetes. Ophthalmoplegia refers to a paralysis or weakness of one or more of the muscles that control eye movement. Ophthalmoplegia can cause symptoms such as double vision, vision loss, inability to move the eyes in one or more directions. The treatment for ophthalmoplegia involves prescription eye drops, oral corticosteroids, surgery to correct muscle paralysis or weakening or in severe cases orbital decompression surgery. With increasing burden of eyes disorders worldwide and limited treatment options available, the demand for ophthalmoplegia treatment drugs and devices is increasing substantially.


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

Key players operating in the Global ophthalmoplegia are Allergan, Pfizer, Mylan, and Sun Pharmaceutical Industries. These players are focusing on new product launches and enhancing their portfolio to strengthen market presence. The rising prevalence of neurological disorders and eye diseases offer significant growth opportunities in the Global Ophthalmoplegia Market. Moreover, increasing healthcare expenditure in emerging economies provides lucrative opportunities for market players.

Key players are expanding their operations globally through strategic partnerships and collaborations with local players. For instance, Allergan expanded its commercial operations in China and Europe in 2021. Meanwhile, Sun Pharma is focusing on expanding its global footprint especially in Asian and African markets.


Market Drivers

Rising prevalence of thyroid eye disease is a major factor driving the ophthalmoplegia market growth. Thyroid eye disease affects around 25-50% of people with Graves’ disease and leads to development of ophthalmoplegia. According to estimates, the prevalence of Graves’ disease is 16 cases per 100,000 women and 3 cases per 100,000 men annually worldwide.


Market Restraints

Lack of awareness about ophthalmoplegia especially in low and middle-income countries is a key challenge. This has resulted in underdiagnosis and delayed treatment for the condition. Moreover, high costs associated with advanced treatment procedures hampers market growth in price-sensitive areas.


Segment Analysis

The global ophthalmoplegia market can be segmented based on application, type, treatment, end-user, and geography. By application, the market can be classified into extraocular muscles palsy and cranial nerve palsy. Extraocular muscles palsy segment is expected to dominate the market during the forecast period. This segment growth can be attributed due to increasing number of cases associated with ocular muscles paralysis. By type, the ophthalmoplegia market can be divided into external ophthalmoplegia and internal ophthalmoplegia. External ophthalmoplegia segment holds a major share of the market owing to rising incidence of ocular nerve disorders affecting eye movement.


Global Analysis

Geographically, the global ophthalmoplegia market can be analyzed across five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to dominate the global market during the forecast period. Factors such as rising prevalence of eye disorders, growing initiatives to spread awareness about ophthalmoplegia, and increase in healthcare spending are attributed to the large share of North America. Asia Pacific is expected to expand at a high CAGR during the forecast period due to increasing patient population, rising medical tourism, and growing healthcare infrastructure in developing countries of the region.


Get This Report in Japanese Language: 世界の眼筋麻痺市場


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About Author:


Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.


(https://www.linkedin.com/in/ravina-pandya-1a3984191)



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