Ophthalmic Drugs Market
Ophthalmic Drugs Market Analysis By Disease Indication (Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders), By Therapeutic Class (NSAIDs, Steroids, Anti-glaucoma Drugs), By Product Type (Prescription Drugs, OTC Drugs) - Global Review 2020-2025
Global Ophthalmic Drugs Market Insights
The global ophthalmic drugs market shall gain moderate traction during the forecast period (2020-2025), registering a CAGR of 4.2%. There is an increase in incidences of eye-related diseases, particularly in developing nations, over the past several years.
Visual impairment is a global health concern having a negative impact on physical and mental health. The increasing patient pool of visually impaired is anticipated to boost demand for healthcare spending on ophthalmology drugs.
Ophthalmic Drugs Market Trends
The number of FDA approvals for advanced therapeutics is rising. Consequently, demand for advanced ophthalmology drugs is burgeoning. For instance, in 2016, Shire introduced Xiidra, a lymphocyte function associated antigen-1 (LFA-1) antagonist for ophthalmic drugs disorders.
The foremost trend in ophthalmic drugs is the attainment of adequate drug concentrations at the targeted part of the eye with minimal side effects. This rising pool of ophthalmology patients, coupled with increasing approvals for the launch of therapeutic drugs is anticipated to leverage the global ophthalmology drugs market.
Ophthalmic Drugs Market By Disease-Indication
Retinal disorders are anticipated to find major application for ophthalmic drugs, holding more than one-third of the global ophthalmology drugs market, expanding at a CAGR of 4.7% during the forecast period. The glaucoma segment is poised to capture more than two-fifths of the overall ophthalmic drugs market, expanding stagnantly at a CAGR of 3.5%.
Increasing patient pool acquiring retinal problems is a key driver augmenting growth of the retinal disorders segment. According to sources, the number of patients with age-related macular degeneration (AMD) is anticipated to rise to 288 million by 2040. Rising pool of glaucoma patients and presence of key market players like Pfizer, Inc., Novartis AG and Valeant Pharmaceuticals International, Inc. manufacturing important drugs and formulations are anticipated to leverage market share of glaucoma drugs.
Avail customized purchase options for your needs
Ophthalmic Drugs Market Regional Insights
North America is poised to capture a majority of the global ophthalmic drugs market share (~2/5th) while the Asia-Pacific region is anticipated to expand at a CAGR of 4.9% during the forecast period. High cost of prescription drugs and the presence of key market players such as shall burgeon the North American ophthalmic drugs market.
Increasing investments by major market players and research institutes for innovations in the ophthalmic space are key growth drivers of the Asia-Pacific. There is immense government support regarding funding of research institutions to facilitate studies in ophthalmic drugs.
Opthalmic Drug Market Manufacturers
Key Companies Profiled
- Novartis AG
- Regeneron Pharmaceuticals Inc.
- Santen Pharmaceutical Co. Ltd
The global ophthalmic drugs market is consolidated. The top four players constitute more than three-fifths of the market. These players are Novartis AG, Regeneron Pharmaceuticals, Inc., ALLERGAN and Santen Pharmaceutical Co., Ltd. These companies primarily concentrate on developing new drugs and innovating their development formula.
For example, Santen Pharmaceutical Co. and Singapore Eye Research Institute announced a strategic, five-year extended collaboration to develop new technologies for unmet medical needs in key ophthalmic drugs domains in 2017. The company manufactures prescription drugs for corneal, retinal and glaucoma diseases, which include Diquas, Tapros, Alesion and Eylea. Novartis AG, another player, integrates new products into its existing pipeline of drugs. It specializes in innovative medicines and includes ophthalmic drugs products like Lucentis and Travoprost.
COVID-19 Impact on the Ophthalmic Drugs Market
The outbreak of the coronavirus disease has presented credible opportunities for the expansion of the ophthalmic drugs market. There have been multiple reports about eye redness and irritation in COVID-19 patients, suggesting that conjunctivitis could be an ocular manifestation of COVID-19 infection.
It was concluded in 2003 during the outbreak of SARS that lack of eye protection was the primary cause of transmission of the virus. A similar trend has been observed in the current wave of infections. However, most ocular manifestation of COVID-19 are self-limited and can be managed with symptomatic care.
With several countries easing social distancing measures, the supply chain of ophthalmic drugs market is anticipated to function normally. In light of the abovementioned trends, hospitals and other healthcare settings will demand increased quantities of ophthalmic drugs as a precautionary measure.
With the logistical arrangements reverting to normal, availability of such drugs will become much easier. Moreover, leading manufacturers have been increasing their productive capacities and are optimistic about registering an uptick in their operations in the wake of the easing of restrictions.
An Adaptive Approach to Modern-day Research Needs
“Rising prevalence of visual impairments has prompted healthcare providers to accelerate ophthalmic treatment across the world. This has motivated market players to develop important drugs, thereby leveraging prospects of the global ophthalmic drugs market. North America and Asia-Pacific shall generate the largest demand for ophthalmic drugs in the future.”
Global Ophthalmic Drugs Market Scope
The recent study undertaken by Fact.MR on the global ophthalmic drugs market provides a 5-year forecast period ranging from 2020 to 2025 and explicates on key dynamics impacting the market’s growth such as the drivers, opportunities and restraints.
The ophthalmic drugs market has been analyzed in detail, providing information on the revenue, market share and yearly growth opportunities. Moreover, the market has been segmented based on disease indication, therapeutic class, product type and distribution channels.
The report also includes a detailed regional landscape based on the following geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Each regional profile incorporates the abovementioned segments. Towards the end, a competitive landscape has also been given.
In this section, key companies’ revenue and market shares, product launches and important collaborations with other players have been provided. In order to provide a realistic outlook, each company is also provided with a SWOT analysis.
Interested to Procure The Data
Global Ophthalmic Drugs Market Segmentation
Fact.MR has studied the global ophthalmic drugs market with detailed segmentation on the basis of disease indication, therapeutic class, product type, distribution channels and regions.
By Disease Indication :
- Dry Eye
- Retinal Disorders:
- Wet AMD
- Dry AMD
- Diabetic Retinopathy
By Therapeutic Class :
- Anti-inflammatory Drugs:
- Anti-infective Drugs:
- Anti-fungal Drugs
- Anti-bacterial Drugs
- Anti-glaucoma Drugs:
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Combined Medication
- Anti-allergy Drugs
- Anti-VEGF Drugs
By Product Type :
- Prescription Drugs
- OTC Drugs
By Distribution Channels :
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
“This taxonomy prepared is confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.”
- FAQs -
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.