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Ophthalmic Dye Market Segmented By drug type such as Fluorescein Dye, Rose Bengal Stain, Trypan Blue with Application such as Ophthalmic diagnosis and Ophthalmic surgery
In ophthalmology, dyes are used as both as a diagnostic and therapeutic aid, which have become valuable surgical tools for identifying ocular tissues. In detecting and tracking ocular structures at the cellular level, diagnostics dyes is considered as one of the most efficient means.
The ophthalmic dyes are used as both diagnostics and as therapeutics in treating both anterior and posterior segment disorders. There are many types of dyes available in the ophthalmic dye market but most commonly used dyes are fluorescein, and rose Bengal. The global ophthalmic dyes market is increasing due to the increasing geriatric population, and age-related eye disorders.
The outbreak of novel coronavirus is believed to have a severe impact on the global ophthalmic dye market. During the COVID-19 outbreak, there has been a decrease in flow of patients into the hospitals and clinics which is leading to reduced diagnosis and surgeries which in turn is affecting the global ophthalmic dye market.
After the supply and production disruptions, the industries are now facing a demand shock with an uncertain recovery timeline due to shelter-in-place regulations.
The increasing prevalence of dry eye along with the inflammation of the ocular surface, especially among the aged population is the major driver in the ophthalmic dye market. Furthermore, the rising prevalence of age-related macular degeneration is expected to drive the growth of ophthalmic dye market.
There are various environmental factors such as air pollution, central heating, chemical burns which affect the tear film leading to eye infection are expected to boost the ophthalmic dye market.
Apart from drivers, there are some restraints for the ophthalmic dye market such as high costs of ophthalmic diagnosis and surgery, and side effects of ocular diagnostics such as occasional vomiting and transient nausea.
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Based on the product type, the fluorescein dye is expected to hold a major share in the ophthalmic dye market as it is more effective in performing angioscopy or angiography of the iris and retina as compared to other dye. Also, it is convenient to use as it comes in the form of drops and strips.
Based on the application, the ophthalmic diagnosis segment is expected to grow due to the increasing number of patients involvement in the ophthalmic diagnosis as compared to surgery. Based on the distribution channel, hospital pharmacies are expected to be the most profitable segment in the global ophthalmic dye market.
The global ophthalmic dye market is expected to be dominated by North America due to the increasing advancement in diagnosis and surgeries and increasing prevalence of age-related ocular disorders in the region. The increasing incidence of glaucoma, retinopathy, and retinal vein occlusion among the geriatric population is expected to drive the growth of ophthalmic dye market in the region.
North America is expected to be followed by Europe due to increasing number of eye speciality hospitals and clinics in the region.
Asia-Pacific is expected to have a rapid growth rate in the global ophthalmic dye market over the forecast period, due to air pollution and increasing prevalence of geriatric population and diabetic eye disease in the countries like India and China.
Some of the market participants in the global ophthalmic dye market identified across the value chain include: Akorn, Inc., Novartis International AG, Altaire Pharmaceuticals, Inc., Johnson & Johnson, Bausch Health, HUB Pharmaceuticals, LLC, Abbott Laboratories, Topcon Corporation, Carl-Zeiss-Stiftung, Nomax, Inc., and others.