Age Related Vision Dysfunction Market is expected to be worth US$ 130 billion by 2033

A recently published study by FMI expects the global Age-Related Vision Dysfunction Market to augment at a 3.7% CAGR from 2023 to 2033. By the end of the said assessment period, a valuation of US$ 130 Billion is expected for the market. The rising incidence of visual impairment and blindness is a primary driver of the global age related vision dysfunction market's expansion.

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Furthermore, the rising prevalence of eye illnesses such as diabetic, glaucoma, cataract, and age-related macular degeneration is expected to boost demand for assistive technology in age related vision dysfunction. As a result, the worldwide age related vision dysfunction market will expand. For example, the World Glaucoma Association estimates that 79.6 million people would develop glaucoma by 2020. This figure is expected to rise to 111.8 million by 2040.

According to a United Nations (UN) estimate, the worldwide population of people aged 60 and more was around 962 million in 2017, with a projected increase to 2.1 billion by 2050 According to the National Federation of the Blind, an estimated 3,171,100 persons aged 65 and older in the United States had visual impairment in 2016. All these factors are likely to drive the age-related vision dysfunction market during the forecast period

Key Takeaways from the Market Study

FMI projects the global Age Related Vision Dysfunction market to expand at a 3.7% value CAGR by 2033
The global Age Related Vision Dysfunction market is estimated at a market value of US$ 90 Billion
The global Age Related Vision Dysfunction market is expected to garner a market value of US$ 130 Billion
As per Future Market Insights, Asia Pacific is expected to grow at a CAGR of 3.5% in the assessment period 2023-2033.
As per Future Market Insights, North America is expected to grow at a CAGR of 3.6% in the assessment period 2023-2033.
As per Future Market Insights, Europe is expected to grow at a CAGR of 3.3% in the assessment period 2023-2033.
The glaucoma segment is expected to hold the largest market share for Age Related Vision Dysfunction in the forecast period 2023-2033

“Increased government measures to develop assistive technology and supply assistive technology equipment to the disabled is also predicted to fuel growth in the worldwide age related vision dysfunction market.”Says an analyst at FMI

Market Competition

Aerie Pharmaceuticals
Santen Pharmaceutical
Sun Pharma Advanced Research Company Limited
Bausch + Lomb
D Western Therapeutics Institute
Novartis
AbbVie
Eyenovia
Orasis Pharmaceuticals
IVERIC Bio

Recent Developments:

In May 2020, AbbVie Inc. finalised the strategic acquisition of Allergan plc. As a result of this purchase, AbbVie Inc. has positioned itself as a market leader in the age related vision dysfunction

Key Segments Profiled in the Age Related Vision Dysfunction Market Industry Survey

Age Related Vision Dysfunction Market by Dysfunction Type: