How Ophthalmic Franchising Boomed and created new opportunities

How many people around you are without specs??? A few right? There you see the wide penetration of ophthalmic products in our lives. If you can see the impact of this segment from this close think about the entire nation and then entire world. That’s how rapidly ophthalmic market is growing. Ophthalmic Franchise Business occupies a major part of the Ophthalmic market segment.

Moreover, the entire Franchise business is growing at the rate of 30% every year and is estimated to be worth 22 billion USD as per a data from Franchise India. Franchise business offers abundant benefits to attract individuals to it. When taking up franchise you don’t have to go through the entire process of starting a business, the legal procedures, then creating a market demand, creating your brand, development and expansion and so much more. It requires a lot of efforts and money to set up a fresh business, make yourself everybody’s favorite in the market. All these take years of patience and hardwork to finally become a well-established brand in the market. Whereas in franchise business you just take the benefits of all the hardwork and money put in by the parent company. It is like you are feeding on the eggs laid down by the Pharma Company.

Similarly, Ophthalmic Franchise Business is gradually rising in terms of its share in the overall Ophthalmic marketing segment. Moreover it makes it easy for the manufacturer to spread his products throughout the nation without himself worrying about the marketing in all the corners of the nation. He can therefore focus on the manufacturing part. And the franchise partner can focus on selling the products to the final customers in his area.

Within the recent years, due to the changing lifestyle patterns and psychological factors, there are rising cases of deteriorating vision among individuals throughout the nation. This is evident from the record high cataract treatments done this year.

Indian Ophthalmic Pharmaceutical segment is growing at a CAFR of 6.4%. It has grown from 1400cr INR in 2014 to 2200cr INR in 2020. Glaucoma segment is the fastest-growing submarket of the ophthalmic market in India and is expected to grow to become the largest by the year 2022. It is growing at a CAGR of approximately 11%. Dry Eye prescriptions occupy a major part of OTC ophthalmic medication range.

Reasons behind boom in Ophthalmic Franchise business:

• Rising cases of eye diseases such as glaucoma, cataract, macular degeneration
• Increase in geriatric population
• Increase in investment in R&D activities by healthcare companies
• Rise in awareness regarding eye health and risk posed by eye diseases
• Ophthalmic market is predominantly occupied by branded generics

Eyes form a very sensitive and most important part of human life. God forbade, but nobody would ever want to cause any harm to their eyes Thus people always take an extra step in taking good care of their eyes. You must have observed that there are people who have a good eyesight but still they wear glass during reading or using electronic gadgets. This shows how important it is to take care of your eyes. Since with changing times, people are stuck with mobile and computer screens throughout the day either for studying or working or any other task. And to protect your eyes from the blue light emitted by these gadgets, people resort to antiglare specs, or reading glasses, etc.

Thus this expanding Ophthalmic Franchise business has opened up vast opportunities for people throughout the nation. As they are free to associate with the popular ophthalmic drug brands to establish themselves in the market with their assistance. More there are so many benefits offered by franchise companies in terms of the interiors of your office, product quality, promotional tools, investment benefits, etc.