Ophthalmic drugs are preparations used for the treatment of eye diseases and disorders such as cataract, glaucoma, color blindness, diabetic macular edema, CMV retinitis, and age-related macular degeneration. The ophthalmic drugs market is witnessing significant growth, due to increase in prevalence of eye disorders and rise in use of combination therapies for treatment of ophthalmic disorders, especially glaucoma. Combination therapies have various advantages over traditional medication such improvement in patient compliance and efficacy. Moreover, surge in prevalence of ophthalmic disorders, rise in geriatric population globally, and change in demographics fuel the ophthalmic drugs market growth.
The global ophthalmic drugs market was valued at $29,613 million in 2021`, and is expected to reach $42,663 million by 2026, registering a CAGR of 5.3% from 2021 to 2026.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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The ophthalmic drugs market is segmented based on indication, type, distribution channel, dosage form, technology, therapeutic class, and geography. Depending on indication, the market is divided into dry eye, glaucoma, infection/inflammation/allergy, retinal disorders, and others. On the basis of type, the market is bifurcated into prescription drugs and over-the-counter drugs. By distribution channel, it is categorized into hospital pharmacies, online pharmacies, drug stores, and others.
According to dosage form, it is classified into liquid ophthalmic drug forms, semisolid ophthalmic drug forms, solid ophthalmic drug forms, multicompartment drug delivery systems, and other ophthalmic drug forms. As per technology, the market is segmented into biologics, cell therapy, gene therapy, drug delivery, small molecule, and others. Based on therapeutic class, it is classified into anti-inflammatory drugs, anti-infective drugs, anti-glaucoma drugs, and anti-allergy drugs. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
As per ophthalmic drugs market analysis, in the recent years, Asia-Pacific reported significant growth in the ophthalmic drugs market, owing to steady increase in the prevalence of glaucoma in the Asian population. In addition, increase in the number of people suffering from primary angle-closure glaucoma in Japan, China, and South Korea supplement this growth further.
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KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the global ophthalmic drugs market with the current trends and future estimations to elucidate the imminent investment pockets.
Comprehensive analysis of the factors that drive and restrict the market growth is provided.
Comprehensive quantitative analysis of the industry is provided from 2016 to 2023 to assist stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the key segments of the industry helps in understanding the trends in types and technologies globally.
Key players and their strategies are provided to understand the competitive outlook of the industry.
KEY MARKET SEGMENTS
Wet Age-related Macular Degeneration
Dry Age-related Macular Degeneration
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By Dosage Form
Liquid Ophthalmic Drug Forms
Solid Ophthalmic Drug Forms
Semisolid Ophthalmic Drug Forms
Multicompartment Drug Delivery Systems
Other Ophthalmic Drug Forms
By Distribution Channel
By Therapeutic Class
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Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Santen Pharmaceutical Co., Ltd.
Bausch & Lomb Inc. (Valeant Pharmaceuticals International, Inc.)
Sun Pharmaceutical Industries Limited
Actavis Generics (Teva Pharmaceutical Industries Ltd.)
Regeneron Pharmaceuticals, Inc.
The other players in the value chain include (profiles not included in the report)
Abbott Medical Optics, Inc.
Ellex Medical Lasers Ltd.
Essilor International S.A.
Insight Vision Inc.
Nidek Co. Ltd.
Novagali Pharma S A
Ziemer Ophthalmic Systems AG
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The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
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This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
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