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Ophthalmology Contract Research Organization (CRO) Market Trends

Report ID: GMI6617
Published Date: Sep 2023
Report Format: PDF

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Ophthalmology Contract Research Organization (CRO) Market Trends

Escalating burden of eye disorders coupled with growing demand for effective ophthalmology therapeutics and diagnostic solutions is expected to boost the ophthalmology CROs marker development. Increasing old age population and lifestyles change has led to growing eye conditions such as age-related macular degeneration, diabetic retinopathy, glaucoma, and cataracts. As the elderly population grows, visual impairment has pushed to the forefront as a major public health concern. For instance, in 2020, according to the Center for Disease Control and Prevention (CDC), 1.8 million U.S. population aged 40 years and older are affected by age-related macular degeneration (AMD). Similarly, in 2022, according to the World Health Organization (WHO), globally 2.2 billion people have a near or distance vision impairment among which at least half of these cases of vision impairment could have been prevented and some are yet to be addressed.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Ophthalmology contract research organization (CRO) market size reached USD 2.2 billion in 2022 and will record USD 4.4 billion by 2032 due to the surging prevalence of eye diseases coupled with rising demand for ophthalmic treatment.

Ophthalmology contract research organization market size from pharmaceutical and biopharmaceutical companies exceeded USD 1.2 billion in 2022 owing to increasing investment for the development of novel ophthalmology therapies and drugs.

North America held 39.6% share of the ophthalmology contract research organization industry in 2022 on account of the rising R&D investments and high number of ophthalmology clinical trials in the region.

ICON plc Laboratory Corporation of America Holdings (Covance Inc.), Medpace, Inc., Pharmaceutical Product Development (Thermo Fisher Scientific, Inc.), Syneos Health, and Worldwide Clinical Trials are some of the major industry players.