Ophthalmic Drugs Market Size, Share & Trends Analysis Report By Drug Class, By Disease, By Dosage Form, By Route of Administration, By Product Type, By Region And Segment Forecasts From 2022 To 2030

Report ID: MN17617213  |  Published: November 2022  |  No of Pages: 150
Format: Electronic (PDF)  |  Industry: Pharmaceuticals

The global ophthalmic drugs market is anticipated to be worth USD 65.6 billion by 2030 and reveal a CAGR of 7.7%. Primary reasons for this growth include the inauguration of ophthalmic drugs through research and development (R&D), the initiation of different strategies, and the unmet needs of ophthalmology. As per the October 2021 report by World Health Organization, 2.2 billion people suffer from vision impairment disorder out of which with the help of suitable treatment, 1 billion cases can be diagnosed. Besides, a huge surge in the prevalence of vision impairment and blindness is subjected to an increase in the financial expenses of governments. For instance, vision impairment owing to myopia is worth USD 244 billion, which tends to increase the demand for ophthalmic drugs and boost the industry’s growth during the forecast period.

The COVID-19 pandemic negatively impacted the industry owing to a 92.52% decline in clinical visits, a 93.84% decline in visual check-ups, a 72.74% decline in surgical procedures, and a 19.63% decline in medications as stated in the Clinical Ophthalmology Journal of November 2021. Additionally, for patients who suffered from glaucoma and various other ophthalmic disorders, there was an automatic decline in clinic visits owing to lockdown restrictions initiated by governments across the world. However, the industry experienced a surge due to increasing availability of COVID-19 vaccines, which resulted in combating the spread of the disease globally.

An increase in R&D activities along with contributions from various organizations is expected to boost the industry during the forecast period. For instance, Alcon, the global leader in eye care products initiated USD 842 million on R&D in 2021 which resulted in the provision of a wide range of products including glaucoma products, cataracts, and contact lenses. Besides, it is through R&D that the availability of a robust pipeline for the investigation of trials is anticipated to up-scale the industry in the forecast period. For instance, Nicox, a novel ophthalmology company has initiated partnering and future developmental plans with NCX-470, a novel nitric oxide eyedrop. It is currently under phase III trial and the inauguration is projected by 2029.

In terms of segment, the prescription drugs segment dominated the market owing to the huge surge in the prevalence of disorders catering to age-related macular degeneration (AMD), and diabetes retinopathy. Additionally, better safety and improved efficacy are essential factors responsible for the industry’s boost during the forecast period. Besides, the presence of drugs such as Zylet, Bepreve, Durezol, and Lotemax ointment are extensively used for the treatment of allergic conjunctivitis. These drugs comprise lubricating and moisturizing agents that intensify the temporary secretion of tears, thus resulting in an increased demand for the product.

In terms of regional growth, North America dominated the market on the account of an increasing awareness for eye disorders. Additionally, the presence of various organizations and focus on R&D is subject to boost the industry. For instance, in June 2022, Harrow Health, Inc. stated a rise in the availability of ophthalmic drugs like iopidine and maxitrol under the Food and Drug Administration (FDA) and the Prescription Drug User Free Act. Besides, Asia Pacific is also expected to contribute towards the industry growth owing to the presence of diseases, an increase in the number of patients, and the emergence of ophthalmology organizations.

Key players are on the verge to adopt strategies through mergers and acquisitions, product development, and partnership to enhance their respective market share. For instance, Novartis Pharmaceutical Corporation declared the acquisition of Kedalion Therapeutics in June 2022. The purpose of this acquisition was to expand the ophthalmic product portfolio of Novartis with the implementation of AcuStream technology, which contributed towards the industry growth.

Ophthalmic Drugs Market Report Key Takeaways

  • In 2021, the anti-VEGF segment upheld the market with the largest revenue share of 31.5%. The growth is augmented by the rise in adoption, demand for the product, and contribution from market players. Additionally, strong performances from organizations like LUCENTIS, Avastin, and others are likely to drive the segment’s growth
  • In 2021, the retinal disorder segment dominated the market with a 34.8% revenue share. The increase in the frequency of diabetic retinopathy, funding for treatment expansion, and macular degeneration are likely to boost the segment
  • In 2021, the eye drops segment dominated the market with the largest revenue share of 39.3%. This growth is attributed to the availability of eye drops, the occurrence of eye disorders, patient compliance factors, the presence of novel technology, and the launch of novel products
  • In 2021, the prescription drugs segment upheld the market with a 59.1% revenue share. A surge in diabetic retinopathy and AMD, better safety, and improved efficacy are essential factors likely to drive the segment’s growth
  • In 2021, the topical route of administration dominated the market and is expected to maintain its growth during the forecast period. This growth is accustomed to the increase in the demand for topical products owing to the provision of convenience dosage, patient compliance factors, and strategies initiated by organizations
  • In 2021, North America dominated the market with the largest revenue share of 39.3%. A rise in the awareness and prevalence of eye disorders along with an increase in R&D is subjected to boost the regional growth

 

Ophthalmic Drugs Market Segments

  • Ophthalmic Drugs Class Outlook (Revenue, USD Million, 2018 - 2030)
    • Antiallergy
    • Anti-inflammatory
      • Non-steroidal drugs
      • Steroidal drugs
      • Anti-VEGF Agents
    • Anti-glaucoma
    • Others
  • Ophthalmic Drugs Disease Outlook (Revenue, USD Million, 2018 - 2030)
    • Dry Eye
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
    • Eye Allergy
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
    • Glaucoma
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
    • Eye Infection
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
    • Retinal Disorders
      • Retinal Disorder Treatment Market, By Type,
        • Macular Degeneration
        • Diabetic Retinopathy
      • Retinal Disorder Treatment Market, By Dosage Type,
        • Gels
        • Eye Solutions & Suspensions
        • Capsules & Tablets
        • Eye Drops
        • Ointments
    • Uveitis
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
    • Others
  • Ophthalmic Drugs Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)
    • Gels
    • Eye Solutions & Suspensions
    • Capsules and Tablets
    • Eye Drops
    • Ointments
  • Ophthalmic Drugs Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)
    • Topical
    • Local Ocular
      • Retinal Disorders
      • Subconjunctival
      • Intravitreal
      • Retrobulbar
      • Intracameral
    • Systemic
  • Ophthalmic Drugs Product Type Outlook (Revenue, USD Million, 2018 - 2030)
    • Prescription Drugs
    • OTC Drugs
  • Ophthalmic Drugs Regional Outlook (Revenue, USD Million, 2018- 2030)
    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • South Korea
      • Singapore
    • Latin America
      • Brazil
      • Mexico
      • Argentina
    • Middle East and Africa (MEA)
      • South Africa
      • Saudi Arabia
      • UAE
  • List of Key Players in the Ophthalmic Drugs Market
    • Pfizer Inc.
    • Alcon
    • Novartis AG
    • Bausch Health Companies Inc.
    • Merck & Co., Inc
    • Regeneron Pharmaceuticals Inc.
    • Allergan (AbbVie Inc)
    • Bayer AG
    • Genentech, Inc. (F. Hoffmann-La Roche Ltd)
    • Nicox
    • Coherus Biosciences, Inc.
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