Arab & Middle East News
(ARABNEWSWIRE.COM, November 21, 2018 ) Recent Developments:
After reorganizing its ophthalmic business in 2016 by combining the preceding two strategic business units, ophthalmic systems and surgical ophthalmology, into one unit that encompasses the entire ophthalmic portfolio with the goal to optimize sales, boost market breach and grow globally, the Carl Zeiss Meditec Group amplified revenues for the fiscal year ended Sep. 30 in 2016 by nearly 5% to €1.1bn compared to the prior year. In Fiscal Year 2018 ophthalmic devices posted combined total revenues of €843.9m compared to €790.2m in the prior fiscal year, driven mostly by refractive laser systems.
In the refractive laser surgery market, parent company, Carl Zeiss Meditec AG benefitted from the FDA approval and launch of the minimally invasive SMILE procedure, in the US last September, which uses the VisuMax femtosecond laser for correcting myopia.
The company hopes to rise through innovation and plans to invest 10-11% in R&D annually.
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Market Data Forecast has released a report on Middle East and Africa open Ophthalmic drugs Market; Retinal disorders captured largest market share however glaucoma is anticipated to grow with the highest CAGR in the forecast period due to Increasing number of people suffering from retinal disorders all over the world, high innovation in and heavy funding in the development of combination therapies are the major factors driving the growth of this market..
The Middle East and Africa Ophthalmic Drugs market size was around USD 2.66 billion in 2018. It is expected to grow at a CAGR of 1.8% to reach USD 2.91 billion by 2023. It captures 8% of the global market.
Other Key players in the market are Ellex Medical Lasers Ltd., Hoya Corporation, Novagali Pharma S A, Abbott Medical Optics, Inc., Essilor International S.A. Other players in the market include Insight Vision Inc., Nidek Co.Ltd, Topcon Corporation, and Ziemer Ophthalmic Systems AG.
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