Global Ophthalmic Drugs Market Overview:
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.
Global 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.
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Global 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.
Global 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.
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Opthalmic Drug Market Manufacturers
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’s 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: Report 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.
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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.
- Dry Eye
- Retinal Disorders:
- Wet AMD
- Dry AMD
- Diabetic Retinopathy
- 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
- Prescription Drugs
- OTC Drugs
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
- 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.”
Global Ophthalmic Drugs Market- Scope Of The Report
The recent study by Fact.MR on global ophthalmic drugs market offers a 5-year forecast between 2020 and 2025. The study analyzes crucial trends that are currently determining the growth of the global ophthalmic drugs market. This report explicates on vital dynamics such as the drivers, restraints and opportunities for key market players along with key stakeholders as well as emerging players associated with the manufacturing of ophthalmic drugs. The study also provides dynamics that are responsible for influencing the future status of the global ophthalmic drugs market over the forecast period.
A detailed assessment of the global ophthalmic drugs market value chain analysis, business execution, and supply chain analysis across the regional markets has been covered in the report. A list of prominent companies operating in the global ophthalmic drugs market along with their product portfolio enhances the reliability of this comprehensive research study.
Global Ophthalmic Drugs Market: Report Summary
The study offers a comprehensive analysis on diverse features including production capacities, demand, product developments, revenue generation and sales in global ophthalmic drugs market across the globe.
A comprehensive estimate of the global ophthalmic drugs market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of the global ophthalmic drugs during the forecast period. Price point comparison by region with global average price is also considered in the study.
Global Ophthalmic Drugs Market: Analysis on Market Size Evaluation
The global ophthalmic drugs market has been analyzed for each market segment, in terms of value (US$ Mn).
Market estimates at global and regional levels for ophthalmic drugs is available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent ophthalmic drugs market segments, along with market attractiveness evaluation has been incorporated in the report.
Global Ophthalmic Drugs Market: Inspected Assessment on Regional Segments
Key sections have been elaborated in the global ophthalmic drugs report, which have helped to deliver projection on the regional markets. These chapters include the regional macros (economic, and business environment outlook), which are expected to have a momentous influence on the growth of the global ophthalmic drugs market during the forecast period.
Country-specific valuation on demand for ophthalmic drugs has been offered for each regional market, along with the market scope, estimate and forecast, price index, and impact analysis of dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value & volume for emerging countries has also been included in the report.
Global Ophthalmic Drugs Market: In-Depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of global ophthalmic drugs along with their detailed profiles. Essential and up-to-date data and information related to the market performers, who are principally engaged in the production of ophthalmic drugs, has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits the report readers to take preemptive steps in advancing their businesses.
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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.
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