The global ophthalmology therapeutics market is experiencing a growing number of developments in the recent years. Big name players in the market are keen on bringing innovative products to attract more customers and also build sustainable customer relationships. The companies in the market are focusing on developing new biological agents that have smaller treatment times. Companies in emerging markets are trying to explore the potential of unmet medical requirements of the regions. Whereas, the generic players are trying to bolster their distribution channels of their cost-efficient therapeutics in rural areas of the developing geographies that have a higher number of visually challenged population.
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Some of the recent notable developments in the global ophthalmology therapeutics market are listed below:
• In June 2019, the Sixth Summit for Ophthalmology Technology organized by OCTANE showed various technological advances in this field. The summit was graced by several big brands in the global ophthalmology therapeutics market such as IACTA, VisgenX, Len Techs, and Cell Care Therapeutics among others. The objective of this summit was to bring together all the ophthalmology therapeutics companies, investors, and physicians, and facilitate partnerships.
• In April 2019, three congress members of the United States were honored by the American Academy of Ophthalmology. These members were awarded because of their extraordinary contribution to help preserve the access to improved eye care and treatments for the people. This award is also called as the Visionary Award, 2019.
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There are several factors that are contributing to the positive growth of the global ophthalmology therapeutics market. One of the biggest reasons for the development of the market is the growing geriatric population across the globe, especially in the US, Japan, and China. With growing age, the problems associated with vision are also expected to rise and this will precisely help in the development of the market in the coming years.