Ophthalmic Drugs Market Size, Share, Growth, Trends, Consumption, Production, Revenue and Forecast 2020 - 2027

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global Ophthalmic Drugs Market size is expected to hit US$ 37.2 billion by 2027 and is anticipated to reach at a CAGR of 4.2% from 2020 to 2027.

Rising adoption of newly developed therapeutics in ophthalmology, Increasing incidence rates of eye related disorders, Advanced retinal treatment approvals for unmet needs in eye disorders, Significant awareness about the diagnosis and treatment of eye disorders are projected to drive the global Ophthalmic Drugs Market during the forecast period

Overview

  • Ophthalmic Drugs are the anti-infectives drugs that contained in a product formulated especially to be instilled or applied in the eye or eyes. Ophthalmic anti-infectives include eye drops, gels or ointments. Anti-infectives are drugs that can either kill an infectious agent or inhibit it from spreading.
  • The ophthalmic infectious diseases produce a discharge whereas inflammatory diseases do not.
  • North America dominated the global Ophthalmic Drugs Market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry and introduction of the Affordable Care Act in the U.S. are expected to drive the market in North America.
  • Asia Pacific is likely to be a highly lucrative market for retinal disorders and it is expected to expand at a high CAGR during the forecast period

Increasing incidence rates of eye related disorders to Drive Market

  • There is an alarming rise in incidence of eye related diseases, especially in the developed countries, which is anticipated to drive the growth of the ophthalmic drugs market during 2017-2025
  • According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from 24.4 Mn in 2010, to 30.5 Mn by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 Mn in 2010 to 9.2 Mn in 2020
  • The patients for open angle glaucoma and AMD in U.S., were 2.7 Mn and 2.1 Mn, respectively, which are projected to increase to 3.3 Mn and 2.5 Mn, respectively, till 2020
  • The increasing patient pool in developing countries as well as developed regions is estimated to propel healthcare spending for eye treatments in each region and drive the growth of the ophthalmic drugs market.

Advanced retinal treatment approvals for unmet needs in eye disorders to drive the market

  • Eye diseases such as chronic or recurrent uveitis, optic nerve, neurodegeneration retinitis pigmentosa, retinoblastoma, etc., lack an effective treatment option, and thus are categorized as unmet medical needs within the ophthalmologic diseases space
  • Several new entrants are dedicated to provide specialized treatment methods for eye diseases:
  • On May 18 2017, Spark Therapeutics, Inc. submitted the first and only Biological License Application to the U.S. FDA for the treatment of Leber’s congenital amaurosis by gene therapy
  • On March 25 2015, Regeneron Pharmaceuticals Inc., announced the approval of Eylea, the first VEGF inhibitor approved for dosing on a less than monthly basis for the treatment of diabetic macular edema
  • Severe inflammatory eye diseases, such as uveitis, lacked a solid treatment option earlier to the FDA approval of Humira for the indication of non-infectious intermediate, posterior, and panuveitis in adult patients
  • In June 2016, the U.S. FDA approved the first and only biologic approved drug, Humira, for the treatment of uveitis
  • Such approvals for advanced treatment options for the treatment of unmet medical needs in the field of eye disorders are projected to boost the expansion of the global ophthalmic drugs market

Dry Eye Segment to Dominate Market

  • Based on Disease Indication, the global Ophthalmic Drugs Market has been divided into Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders, Allergy, Uveitis, Others. The Retinal Disorders segment has been bifurcated into Wet AMD, Dry AMD, Diabetic Retinopathy, Others. The Dry Eye segment dominated the global Ophthalmic Drugs Market in 2018 and the trend is projected to continue during the forecast period. Increasing global pollution, rising use of computers by working professionals, and advanced treatment methods under research by major market players.
  •  Changing environmental factors, increasing pollution, and rising number of market players with aggressive marketing strategies to accelerate the growth of the segment. According to Donelson EyeCare, dry eye disease affects approximately 20 million people in the U.S., and the number is expected to increase exponentially during the forecast period.
  • Moreover, fewer side effects, optimum price of the pills, and higher efficacy makes it preferable for use among women

Anti-Glaucoma Drugs to be Highly Lucrative Segment

  • In terms of Therapeutic Class, the global Ophthalmic Drugs Market has been classified into Anti-inflammatory Drugs, Anti-infective Drugs, Anti-Glaucoma Drugs, Anti-allergy Drugs, Anti-VEGF Agents and Others.
  • The Anti-Glaucoma Drugs segment dominated the Ophthalmic Drugs Market due to increasing prevalence, higher inclination towards combination methods, and rising initiatives for treatment penetration.

North America to Dominate Global Market

  • In terms of region, the global Ophthalmic Drugs Market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global Ophthalmic Drugs Market in 2018, followed by Europe.
  • North America accounted for major share of the global Ophthalmic Drugs Market in 2018. The market is witnessing significant transformations due to changing Medicare policies in the U.S., pricing of branded specialty drugs, and the rising patient pool.
  • The increasing patient number along with rising health initiatives for treatment awareness are projected to drive the demand for ophthalmic drugs in this region.
  •  The Ophthalmic Drugs Market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. Asia Pacific is projected to be a fast growing market for ophthalmic drugs due to factors such as high patient pool, rise in the number of local and regional players in Japan and China, and awareness programs by governments for prevention and treatment of vision loss.
  • Increased prevalence of diabetes resulting in high risks of diabetic retinopathy and other retinal disorders among diabetic patients, along with rising geriatric population, are factors driving the growth of the Asia Pacific ophthalmic drugs market.

Competitive Landscape

  • The global Ophthalmic Drugs Market is fragmented in terms of number of players. Key players in the global market include Aerie Pharmaceuticals, Inc., ALLERGAN, Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc. (F. Hoffmann-La Roche Ltd.), Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals, Inc. and Santen Pharmaceutical Co., Ltd., among others.

The global Ophthalmic Drugs Market has been segmented as follows:

By Product Type

    • Prescription Drugs
    • OTC Drugs

By Therapeutic Class

    • Anti-inflammatory Drugs
      • NSAIDs
      • Steroids
    • Anti-infective Drugs
      • Anti-fungal Drugs
      • Anti-bacterial Drugs
      • Others
    • Anti-glaucoma Drugs
      • Alpha Agonist
      • Beta Blockers
      • Prostaglandin Analogs
      • Combined Medication
      • Others
    • Anti-allergy Drugs
    • Anti-VEGF Agents
    • Others

By Disease Indication

    • Dry Eye
    • Glaucoma
    • Infection/Inflammation
    • Retinal Disorders
      • Wet AMD
      • Dry AMD
      • Diabetic Retinopathy
      • Others
    • Allergy
    • Uveitis
    • Others

By Distribution Channels

    • Hospital Pharmacies
    • Online Pharmacies
    • Independent Pharmacies & Drug Stores

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

A new study on the global ophthalmic drugs market has been published by Vision Research Reports. It presents a wealth of information on key market dynamics, including the drivers, market trends, and challenges, as well as the structure of the global ophthalmic drugs market. The study offers valuable information about the global ophthalmic drugs market to illustrate how the market would grow during the forecast period 2020-2027. The report provides the value and volume of the global ophthalmic drugs market for the period 2020–2027, considering 2020 as the base year and 2027 as the forecast year. The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study.

Key indicators of market growth, which include value chain as well as supply chain analyses, and Compound Annual Growth Rate (CAGR), are elucidated in the study in a comprehensive manner. This data can help readers interpret quantitative growth aspects of the global ophthalmic drugs market during the forecast period.

An extensive analysis on business strategies of leading market players is also featured in study on the global ophthalmic drugs market. This can help readers understand principal factors to foresee growth in the global ophthalmic drugs market. In this study, readers can also find specific data on the qualitative and quantitative growth avenues for the global market, which is expected to guide market players in making apt decisions in the future.

The report also delves into the competition landscape of the global ophthalmic drugs market. Key players operating in the global market have been identified, and each one of these has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players profiled in the global market report.

Key Questions Answered in Ophthalmic drugs Market Study

- What are the key factors influencing the ophthalmic drugs market in each region?

- What will be the CAGR of the global ophthalmic drugs market between 2016 and 2027?

- What is the future scope and changing trends in technologies in the global ophthalmic drugs market?

- Which factors will impede the growth of the global ophthalmic drugs market during the forecast period?

- Which are the leading companies in the global ophthalmic drugs market?

- Which region is set to expand at the fastest CAGR during the forecast period?

- What is the volume (Units) of different ophthalmic drugs across all regions during the forecast period?

- Which segment will have the highest revenue globally in 2027 and which segment will expand at the fastest CAGR during the forecast period?

Research Methodology

A unique research methodology has been utilized by Vision Research Reports to conduct a comprehensive research on the growth of the global ophthalmic drugs market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary sources referred to by analysts during the production of the global ophthalmic drugs market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.

These primary and secondary sources provided exclusive information during interviews, which serves as a validation from ophthalmic drugs industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making Vision Research Reports estimates on the future prospects of the global market more reliable and accurate.


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