Ophthalmic Disease Therapeutics Market
PUBLISHED: 2023 ID: SMRC22646
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Ophthalmic Disease Therapeutics Market

Ophthalmic Disease Therapeutics Market Forecasts to 2028 - Global Analysis By Disease Indication (Retinal Diseases, Glaucoma, Dry Eye Disease, Allergy & Infections and Other Disease Indications), Drug Class (Anti-glaucoma, Anti-VEGF, Anti-inflammatory, Anti-infectives and Other Drug Classes), Dosage Form (Semi-solid, Solid and Liquid), Distribution Channel (Retail & Online Pharmacies and Hospital Pharmacies), End User and By Geography

4.9 (73 reviews)
4.9 (73 reviews)
Published: 2023 ID: SMRC22646

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $33.56 BN

Projected Year Value (2028)

US $54.44 BN

CAGR (2022 - 2028)

8.4%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Europe


According to Stratistics MRC, the Global Ophthalmic Disease Therapeutics Market is accounted for $33.56 billion in 2022 and is expected to reach $54.44 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Ophthalmic illness therapeutics comprise medications and therapies used to treat a variety of ocular ailments such as glaucoma, dry eye disease, retinal diseases, and others. The expanding prevalence of these disorders in the population, together with the rising healthcare burden caused by these conditions, is predicted to increase demand for novel medicines and approaches to disease management.

According to the 2021 report published by the Welsh Government, the number of ophthalmic practitioners in Wales increased to 961 in March 2021 from 885 in March 2020.



Market Dynamics:

Driver:

Rising prevalence of ophthalmic conditions

One of the key factors contributing to the growing patient population globally is the increasing prevalence of ophthalmic illnesses such as glaucoma, retinal diseases, dry eye disease, and others among the population. The prevalence of various ocular diseases is shown to be higher in the elderly population. Because of the increasing number of efforts carried out by various healthcare agencies, government entities, and market participants, there is a higher diagnostic and treatment rate among the population.

Restraint:

High cost of biologics

Biologics and biosimilars provide various clinical advantages, including increased effectiveness, safety, and others. However, there are several limits, such as the greater cost of biologics, more out-of-pocket spending, and so on. The higher cost of biologics due to their numerous benefits and varied expenditures involved with their research and approvals is a critical issue restricting the use of these medications in developing nations.

Opportunity:

Increasing clinical trials and pipeline candidates for innovative drugs and therapies

Market players and research organisations are putting more emphasis on developing and launching innovative therapies to treat the illness. The increasing efforts of market participants in R&D activities to develop novel medicines for the treatment of the condition are likely to result in a higher demand for ophthalmic disease therapeutics in the market during the forecast period. The increased focus and vigorous efforts of the market's leading competitors to discover and launch novel medicines to meet the unmet demand for the growing patient population is predicted to raise ophthalmic drug consumption.

Threat:

Lack of awareness

Market expansion is hampered by stringent regulatory frameworks and ambiguous reimbursement practises. Lack of awareness of various ocular problems in rural regions, as well as a lack of health insurance that covers all types of IOLs and contact lenses, are limiting market growth. Vision care has become prohibitively expensive, with many individuals all around the world unable to afford ophthalmic procedures. This is regarded as the key cause of the worldwide ophthalmology pharmaceuticals market's diminishing growth.

Covid-19 Impact

Throughout the projection period, the COVID-19 had a negative impact on market growth. One of the key factors responsible for the market's slower growth during the pandemic is the temporary closure of orthopaedic clinics and a greater concentration of healthcare providers on COVID-19 patients. The lockdown restrictions imposed by government authorities across the regions resulted in the cancellation or postponement of services related with many ocular disorders, as well as a decrease in the number of patient visits to hospitals and clinics. This resulted in a decline in global patient demand for ocular illness medicines.

The anti-VEGF segment is expected to be the largest during the forecast period

The anti-VEGF segment is estimated to have a lucrative growth, due to the rising demand and acceptance of anti-VEGF agents, and the presence of significant market players with extensive product portfolios. Furthermore, the segment's growth is attributed to the great performance of Avastin, LUCENTIS, and others. The current class of anti-VEGF medications is effective but not long-lasting, hence the focus of players on the development of therapeutics with longer action is growing.

The semisolid segment is expected to have the highest CAGR during the forecast period

The semisolid segment is anticipated to witness the fastest CAGR growth during the forecast period, because of the increasing number of product approvals and releases, such as ointment, suspensions, gels, and others. Rising applications of ointment including inflammatory conditions, infections, and dry eye due its increased effectiveness is leading to rising adoption of the semisolid products. Together with this, the rising attention of the leading players on gaining approvals and introducing new products is another factor contributing to the segment's rise.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to rising prevalence of various ocular illnesses combined with higher diagnostic and treatment rate. Furthermore, rising healthcare spending on eye care and eye health in the region, as well as the availability of acceptable reimbursement for various ophthalmic conditions, encourages the adoption of advanced and novel treatments in the region's important countries. A favourable environment for the research and development of numerous revolutionary pharmaceuticals to cure ophthalmic illnesses, as well as the increasing approval of new drugs, are some other factors contributing to the market's growth.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period. Increasing biologics and biosimilar launches for the treatment of various eye disorders, increased emphasis on effective ocular condition management, and expanding attempts by market leading players to expand their geographical footprint. The introduction of new products, among other things, is one of the few aspects substantially contributing to market growth. Furthermore, the government's increased investments and advancements in healthcare infrastructure facilities are boosting the market.



Key players in the market

Some of the key players profiled in the Ophthalmic Disease Therapeutics Market include Bayer AG, F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals Inc., AbbVie Inc., Santen Pharmaceutical Co. Ltd., Viatris Inc., Novartis AG, Eye Pharmaceuticals, Roche Valeant, Merck & Co., Lpath, Alcon Inc., Pfizer Inc. and Senju

Key Developments:

In September 2022, Santen Pharmaceutical Co., Ltd. and UBE received approval from the U.S. FDA for Omlonti (omidenepag isopropyl ophthalmic solution) 0.002% eye drops for reduction of elevated IOP in patients with primary open-angle glaucoma or ocular hypertension.

In June 2022, F. Hoffmann-La Roche Ltd. received authorization for Vabysmo, from Health Canada for the treatment of neovascular (wet) Age-related Macular Degeneration (AMD) and Diabetic Macular Edema (DME).

In March 2022, Novartis AG received approval from the European commission for Beovu, an ophthalmic medicine for the treatment of visual impairment caused due to diabetic macular edema.

In February 2022, Viatris Inc. received approval for Cyclosporine Ophthalmic Emulsion 0.05%, the first generic version of Allergan’s Restasis, for the treatment of ocular inflammation.

In December 2021, AbbVie Inc. received approval from the U.S. FDA for Vuity, a pilocarpine Hcl ophthalmic solution for the treatment of presbyopia.

Disease Indications Covered:
• Retinal Diseases
• Glaucoma
• Dry Eye Disease
• Allergy & Infections
• Other Disease Indications

Drug Classes Covered:
• Anti-glaucoma
• Anti-VEGF
• Anti-inflammatory
• Anti-infectives
• Other Drug Classes

Dosage Forms Covered:
• Semi-solid
• Solid
• Liquid

Distribution Channels Covered:
• Retail & Online Pharmacies
• Hospital Pharmacies

End Users Covered:
• Patients
• Diagnostic Centres
• Hospitals
• Eye Clinics

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Ophthalmic Disease Therapeutics Market, By Disease Indication
5.1 Introduction
5.2 Retinal Diseases
5.2.1 Diabetic Macular Edema (DME)
5.2.2 Retinal Vein Occlusion (RVO)
5.2.3 Diabetic Retinopathy (DR)
5.2.4 Macular Degeneration (AMD)
5.3 Glaucoma
5.3.1 Open Angle Glaucoma
5.3.2 Angle Closure Glaucoma
5.3.3 Others
5.4 Dry Eye Disease
5.5 Allergy & Infections
5.6 Other Disease Indications

6 Global Ophthalmic Disease Therapeutics Market, By Drug Class
6.1 Introduction
6.2 Anti-glaucoma
6.2.1 Alpha Adrenergic Agonists
6.2.2 Beta Blockers
6.2.3 Carbonic Anhydrase Inhibitors
6.2.4 Combination Drugs
6.2.5 Prostaglandins Analogs
6.2.6 Others
6.3 Anti-VEGF
6.4 Anti-inflammatory
6.5 Anti-infectives
6.6 Other Drug Classes

7 Global Ophthalmic Disease Therapeutics Market, By Dosage Form
7.1 Introduction
7.2 Semi-solid
7.3 Solid
7.4 Liquid

8 Global Ophthalmic Disease Therapeutics Market, By Distribution Channel
8.1 Introduction
8.2 Retail & Online Pharmacies
8.3 Hospital Pharmacies

9 Global Ophthalmic Disease Therapeutics Market, By End User
9.1 Introduction
9.2 Patients
9.3 Diagnostic Centres
9.4 Hospitals
9.5 Eye Clinics

10 Global Ophthalmic Disease Therapeutics Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa

11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies

12 Company Profiling
12.1 Bayer AG
12.2 F. Hoffmann-La Roche Ltd.
12.3 Regeneron Pharmaceuticals Inc.
12.4 AbbVie Inc.
12.5 Santen Pharmaceutical Co. Ltd.
12.6 Viatris Inc.
12.7 Novartis AG
12.8 Eye Pharmaceuticals
12.9 Roche Valeant
12.10 Merck & Co.
12.11 Lpath
12.12 Alcon Inc.
12.13 Pfizer Inc.
12.14 Senju

List of Tables
1 Global Ophthalmic Disease Therapeutics Market Outlook, By Region (2020-2028) ($MN)
2 Global Ophthalmic Disease Therapeutics Market Outlook, By Disease Indication (2020-2028) ($MN)
3 Global Ophthalmic Disease Therapeutics Market Outlook, By Retinal Diseases (2020-2028) ($MN)
4 Global Ophthalmic Disease Therapeutics Market Outlook, By Diabetic Macular Edema (DME) (2020-2028) ($MN)
5 Global Ophthalmic Disease Therapeutics Market Outlook, By Retinal Vein Occlusion (RVO) (2020-2028) ($MN)
6 Global Ophthalmic Disease Therapeutics Market Outlook, By Diabetic Retinopathy (DR) (2020-2028) ($MN)
7 Global Ophthalmic Disease Therapeutics Market Outlook, By Macular Degeneration (AMD) (2020-2028) ($MN)
8 Global Ophthalmic Disease Therapeutics Market Outlook, By Glaucoma (2020-2028) ($MN)
9 Global Ophthalmic Disease Therapeutics Market Outlook, By Open Angle Glaucoma (2020-2028) ($MN)
10 Global Ophthalmic Disease Therapeutics Market Outlook, By Angle Closure Glaucoma (2020-2028) ($MN)
11 Global Ophthalmic Disease Therapeutics Market Outlook, By Others (2020-2028) ($MN)
12 Global Ophthalmic Disease Therapeutics Market Outlook, By Dry Eye Disease (2020-2028) ($MN)
13 Global Ophthalmic Disease Therapeutics Market Outlook, By Allergy & Infections (2020-2028) ($MN)
14 Global Ophthalmic Disease Therapeutics Market Outlook, By Other Disease Indications (2020-2028) ($MN)
15 Global Ophthalmic Disease Therapeutics Market Outlook, By Drug Class (2020-2028) ($MN)
16 Global Ophthalmic Disease Therapeutics Market Outlook, By Introduction (2020-2028) ($MN)
17 Global Ophthalmic Disease Therapeutics Market Outlook, By Anti-glaucoma (2020-2028) ($MN)
18 Global Ophthalmic Disease Therapeutics Market Outlook, By Alpha Adrenergic Agonists (2020-2028) ($MN)
19 Global Ophthalmic Disease Therapeutics Market Outlook, By Beta Blockers (2020-2028) ($MN)
20 Global Ophthalmic Disease Therapeutics Market Outlook, By Carbonic Anhydrase Inhibitors (2020-2028) ($MN)
21 Global Ophthalmic Disease Therapeutics Market Outlook, By Combination Drugs (2020-2028) ($MN)
22 Global Ophthalmic Disease Therapeutics Market Outlook, By Prostaglandins Analogs (2020-2028) ($MN)
23 Global Ophthalmic Disease Therapeutics Market Outlook, By Other Drug Classes (2020-2028) ($MN)
24 Global Ophthalmic Disease Therapeutics Market Outlook, By Anti-VEGF (2020-2028) ($MN)
25 Global Ophthalmic Disease Therapeutics Market Outlook, By Anti-inflammatory (2020-2028) ($MN)
26 Global Ophthalmic Disease Therapeutics Market Outlook, By Anti-infectives (2020-2028) ($MN)
27 Global Ophthalmic Disease Therapeutics Market Outlook, By Others (2020-2028) ($MN)
28 Global Ophthalmic Disease Therapeutics Market Outlook, By Dosage Form (2020-2028) ($MN)
29 Global Ophthalmic Disease Therapeutics Market Outlook, By Semi-solid (2020-2028) ($MN)
30 Global Ophthalmic Disease Therapeutics Market Outlook, By Solid (2020-2028) ($MN)
31 Global Ophthalmic Disease Therapeutics Market Outlook, By Liquid (2020-2028) ($MN)
32 Global Ophthalmic Disease Therapeutics Market Outlook, By Distribution Channel (2020-2028) ($MN)
33 Global Ophthalmic Disease Therapeutics Market Outlook, By Retail & Online Pharmacies (2020-2028) ($MN)
34 Global Ophthalmic Disease Therapeutics Market Outlook, By Hospital Pharmacies (2020-2028) ($MN)
35 Global Ophthalmic Disease Therapeutics Market Outlook, By End User (2020-2028) ($MN)
36 Global Ophthalmic Disease Therapeutics Market Outlook, By Patients (2020-2028) ($MN)
37 Global Ophthalmic Disease Therapeutics Market Outlook, By Diagnostic Centres (2020-2028) ($MN)
38 Global Ophthalmic Disease Therapeutics Market Outlook, By Hospitals (2020-2028) ($MN)
39 Global Ophthalmic Disease Therapeutics Market Outlook, By Eye Clinics (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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