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Ophthalmic Drugs Market

Ophthalmic Drugs Market Forecasts to 2028 – Global Analysis By Technology (Drug Delivery, Gene Therapy, Biologics, Small Molecule, Cell Therapy), End User (Specialty Clinics, Hospitals, Pharmacy), and By Geography

4.5 (69 reviews)
Published: June 2021 ID: SMRC20572
4.5 (69 reviews)
Published: June 2021 ID: SMRC20572

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

According to Stratistics MRC, the Global Ophthalmic Drugs market is accounted for $36.70 billion in 2020 and is expected to reach $70.49 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Some of the key factors propelling the market growth include rising R&D pertaining to the development of novel drugs, increasing focus on developing combination therapies, rising advancements in technologies, favorable reimbursement policies, increasing accessibility for healthcare facilities, and increasing incidence of ophthalmic disorders such as glaucoma, cataract, and other common eye infections. However, loss of patent protection for popular drugs is restraining the market growth.

 

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Ophthalmic drugs are used to treat eye infection and various types of eye conditions. These are used in the treatment of dry eye, age-related macular degeneration, diabetic retinopathy, and other eye disorders. Ophthalmic diseases, including age-related macular degeneration (AMD), diabetic macular edema (DME), diabetic retinopathy, retinal vein occlusion (RVO), and myopic choroidal neovascularization, are potential threats to an individual’s sight. Ophthalmic drug forms have been one of the most important and widely developed areas of pharmaceutical technology over the few years.

By indication, the dry eye segment is anticipated to grow at the significant rate during the forecast period, increased dry eye cases among the peoples. Dry eye disease (DED) is a multifactorial disease of the tear film and ocular surface that results in ocular discomfort, visual disturbance, and tear film instability with potential damage to the ocular surface. It is a generally under-diagnosed clinical condition, as patients often attribute the experienced DED symptoms to ageing, and hence, it remains an under-researched condition in the low- and middle-income countries. In the last decade, only one drug was approved for the treatment of DED by the US Food and Drug Administration (FDA) (i.e., Restasis by Allergan Inc.). DED is a major public health problem, the burden of which is likely to increase due to the increasing proportion of the ageing population and the adoption of modern lifestyle.

On the basis of geography, the Asia Pacific is estimated to be the fastest-growing region in the market over the forecast period, due to increasing burden of ophthalmic disorders and rising consumer awareness. Glaucoma and tear substitute (for dry eye) drugs are the leading products in Asia-Pacific. India is likely to be among the top three pharmaceutical markets by incremental growth and the sixth-largest market, globally, in absolute size, according to the clinical and experimental vision and eye research, India, 2018. Moreover, increase in the number of middle-class households, advancement in medical infrastructure, and the increasing penetration of health insurance in the country are likely to play a significant role in influencing this growth.

Some of the key players in Ophthalmic Drugs Market include Bayer AG, Abbott Healthcare, Merck & Co., Pfizer, Inc., Novartis AG, Valeant Pharmaceuticals, Inc., Johnson & Johnson, Allergan Plc, Santen Pharmaceutical Co. Ltd., Genentech, Inc., F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., Aerie Pharmaceuticals Inc., Bausch Health Companies Inc., Carl-Zeiss AG, and Hoya Corporation.

Report Coverage

Details

Published Year:

2021

Estimated Market Size in 2020:

USD 36.70 billion

Estimated Period:

2020

Compound Annual Growth Rate (CAGR)  from 2020 to 2028:

8.5%

Predicted 2028 Value:

USD 70.49 billion

Forecast Years:

2021-2028

Tables, Graphs & Figures

478

Chapters Covered:

Type, Technology, Drug Variation, Indication, Distribution Channel, Route of Administration, Dosage Form, Delivery Type, Therapeutic Class, End User

Core Drivers and Opportunities:

  • Increasing incidence and prevalence of eye-related disorders
  • Increasing focus on developing combination therapies
  • Multi-vendor device support and industry compliance

Restraining Factors & Market Threats:

  • Loss of patent protection for popular drugs
  • Lack of health insurance in the developing countries


Types Covered:
• Over-the-Counter Drugs
• Prescription Drugs

Technologies Covered:
• Drug Delivery
• Gene Therapy
• Biologics
• Small Molecule
• Cell Therapy

Drug Variations Covered:
• Generic Drugs
• Branded Drugs

Indications Covered:
• Glaucoma
• Dry Eye
• Cataract
• Retinal Disorders
• Uveitis
• Eye Infection/Inflammation/Eye Allergy
• Allergic Conjunctivitis
• Age-Related Macular Degeneration (AMD)
• Diabetic Eye Disease
• Other Indications

Distribution Channels Covered:
• Drug Stores
• Hospital Pharmacies
• Online Pharmacies
• Eye Health Clinics
• Retail Pharmacies/Independent Pharmacies

Route of Administrations Covered:
• Systemic
• Local Ocular
• Topical
• Oral
• Parenteral

Dosage Forms Covered:
• Solid Ophthalmic Drug Forms
• Liquid Ophthalmic Drug Forms
• Multicompartment Drug Delivery Systems
• Semisolid Ophthalmic Drug Forms

Delivery Types Covered:
• Eye Solutions
• Capsules & Tablets
• Eye Ointment
• Gels
• Eye Drops

Therapeutic Classes Covered:
• Anti-Inflammatory
• Antibiotics
• Anti-Allergy
• Anti-Glaucoma Drugs
• Anti-Angiogenic
• Anti-Infective Drugs
• Anti-Vascular Endothelial Growth Factor (VEGF) Agents
• Retinal Drug
• Other Therapeutic Classes (Cyclosporine)

End Users Covered:
• Specialty Clinics
• Hospitals
• Pharmacy

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
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 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- 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

Key Questions Answered In The Report

The Global Ophthalmic Drugs Market is majorly driven by increasing awareness regarding eye-related diseases, rising R&D pertaining to the development of novel drugs, increasing focus on developing combination therapies, and rising advancements in technologies.

The dry eye segment is growing at a highest CAGR owing to increased dry eye cases among the people, increasing proportion of the ageing population and the adoption of modern lifestyle.

North America dominated with a significant market share due to the factors such as the presence of excellent healthcare infrastructure and high consumer awareness.

Asia Pacific market is growing at a highest CAGR owing to increasing burden of ophthalmic disorders, increase in the number of middle-class households, advancement in medical infrastructure, and the increasing penetration of health insurance in the region.

Key players in Ophthalmic Drugs Market include Bayer AG, Abbott Healthcare, Merck & Co., Pfizer, Inc., Novartis AG, Valeant Pharmaceuticals, Inc., Johnson & Johnson, Allergan Plc, Santen Pharmaceutical Co. Ltd., Genentech, Inc., F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., Aerie Pharmaceuticals Inc., Bausch Health Companies Inc., Carl-Zeiss AG, and Hoya Corporation.

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