Global Ophthalmic Drugs Market Insights Forecasts to 2030
- The Ophthalmic Drugs Market Size was valued at USD 39.10 billion in 2021.
- The Worldwide Market Share is growing at a CAGR of 8.25% from 2022 to 2030
- The Global Ophthalmic Drugs Market Size is expected to reach USD 66.22 billion by 2030
- Asia Pacific is expected to grow the fastest during the forecast period.
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The Global Ophthalmic Drugs Market Size is expected to reach USD 66.22 billion by 2030, at a CAGR of 8.25% during the forecast period 2022 to 2030. The demand is expected to increase as a result of rising research and development efforts to create and introduce novel ophthalmic medications, as well as a number of strategic initiatives anticipated by the major players.
The formulations known as "ophthalmic medications" are those that are intended to treat eye conditions such age-related macular degeneration, cytomegalovirus (CMV) retinitis, cataract, glaucoma, colour blindness, and diabetic macular edoema. Ophthalmic medications include a variety of formulations that are used to treat conditions like glaucoma, cataracts, colour blindness, and macular degeneration. The market for ophthalmic medications will expand in the upcoming years as a result of ongoing research & development in this area and an increase in the amount of money invested in these endeavours. During the projected time, the genetic population will be an Influential component in this market's expansion. The use of ophthalmic medications in the preventive form for a variety of eye illnesses will also contribute to the market's expansion over the course of the forecast period.
This research report categorizes the market for Ophthalmic Drugs market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Ophthalmic Drugs market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Ophthalmic Drugs market.
Global Ophthalmic Drugs Market Report Coverage
|Market Size in 2021:||USD 39.10 Billion|
|Forecast Period 2021-2030 CAGR:||8.25%|
|2030 Value Projection:||USD 66.22 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||199|
|Tables, Charts & Figures:||111|
|Segments covered:||By Disease, By Drug Class, By Dosage, By Administration, By Product, By Region, COVID-19 Impact Analysis|
|Companies Covered:||AbbVie Inc. (Allergen plc.), Alcon Inc., Bausch & Lomb Incorporated, F. Hoffmann-La Roche Ltd (Genentech, Inc.), Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd. (Actavis Generics)|
|Growth Drivers:||The majority of businesses on the market are focusing on offering pharmacological combinations for various eye illnesses.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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In most countries around the world, there has been an upsurge in the need for ophthalmic medication in recent years. Preventive medications for eye problems will be introduced as a result of government initiatives to raise knowledge about health care. The majority of businesses on the market are focusing on offering pharmacological combinations for various eye illnesses. Long-term demand for these items is anticipated to increase due to the rise in elderly populations around the world. Age-related macular degeneration is a typical occurrence, and in the years to come, there will be a greater demand for various medications to address these conditions. In the upcoming years, the use of these medications to treat retinal illnesses will contribute to a sizable increase in revenue. The market will expand in the upcoming years as a result of the availability of numerous drugs for the treatment and prevention of glaucoma.
FDA regulations are strict and demand that medications meet efficiency and safety requirements. In the long run, this serves as a restraint on the market's expansion. The amount of money spent on these drugs decreases in emerging countries. The ophthalmic drug business will suffer as a result of a few countries' poor economic conditions. Some underdeveloped nations are unaware of the market-available prophylactic drugs that can halt the development of future eye disorders. The market's expansion would be hampered by this.
- In 2021, anti-VEGF agents segment is dominating the market with the largest market share.
On the basis of drug class, the global ophthalmic drugs market is segmented into anti VEGF, anti allergy, anti-inflammatory, anti-glaucoma, and others. Among these, the anti-VEGF segment is dominating the market with the largest market share. Rising anti-VEGF agent usage and demand, as well as the presence of major market players with extensive product lines, all contribute to the segment's growth.
- In 2021, the retinal disorder segment accounted the largest market share over the forecast period.
The retinal segment holds the largest market share over the forecast period. In the upcoming years, the market expansion will likely be driven by the use of the new medications for retinal illnesses, particularly in light of the COVID-19 pandemic's recent outbreak. After the pandemic, cases of various retinal illnesses surged, and medicine sales also rose dramatically.
- In 2021, the eye drop segment to dominate the market with the highest market share over the forecast period.
On the basis of dosage type, the global ophthalmic drugs market is segmented into Eye Solutions, Gels, Capsules, Eye Drops, Ointments. Among these, the eye drop segment is anticipated to dominate the marker with the highest market share over the forecast period. In several countries, eye drops are being sold more frequently as both a preventive medicine and a treatment for a few illnesses. The availability of cutting-edge technology in the ophthalmic medications' drug delivery system will also contribute to the market's expansion in the ensuing years. The efficiency of medicines can be increased thanks to the nanomicellar technology, which has been developed as a result of ongoing research and development in the sector.
- In 2021, the topical route segment to generate the highest revenue over the predicted time frame.
On the basis of administration, the global ophthalmic drugs market is segmented into systematic, topical, local ocular. Among these, the topical route segment to generate the highest revenue over the predicted timeframe. As more new products are introduced to the market, existing formulas are being replaced, which will accelerate market growth in the years to come. A variety of topical treatments for eye problems are now available on the market thanks to ongoing research and development.
- In 2021, the prescription drugs is going to dominate the market over the forecast period.
On the basis of product, the global ophthalmic drugs market is segmented into prescription drugs, over the counter drugs. Among these, the prescription drugs segment is going to dominate the market over the forecast period. As these medications provide patients greater efficacy and safety, the market is anticipated to expand positively. The most effective way to treat a variety of problems is using prescription medication. The over-the-counter market is also anticipated to have considerable expansion in the upcoming years due to the availability of numerous patient-accessible, readily administered ophthalmic medications.
Regional Segment Analysis of the Ophthalmic Drugs Market
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- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America holds the largest market share over the forecast period.
Among all other regions, North America holds the largest market share over the forecast period. In the North American region, there are several market participants, and as people become more aware of the products' accessibility, ophthalmic medicine sales will rise. This area has a top-notch healthcare infrastructure and a high level of consumer awareness. Throughout the projection period, these two variables will be crucial to the market's expansion.
- In July 2021, Bosch has launched U.S. launch of Biotrue, hydration lubricant eye drops.
- In May 2022, For the treatment of dry eye illness, Brim Biotechnology Inc. and Ora Inc. have formed a partnership to further the development of the regeneration peptide BRM 421.
The report offers the appropriate analysis of the key organizations/companies involved within the global Ophthalmic Drugs market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- AbbVie Inc. (Allergen plc.)
- Alcon Inc.
- Bausch & Lomb Incorporated
- F. Hoffmann-La Roche Ltd (Genentech, Inc.)
- Novartis AG, Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- Santen Pharmaceutical Co. Ltd.
- Sun Pharmaceutical Industries Ltd.
- Teva Pharmaceutical Industries Ltd. (Actavis Generics)
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the global Ophthalmic Drugs market based on the below-mentioned segments:
Ophthalmic Drugs Market, By Drug Class
- Anti-VEGF Agents
Ophthalmic Drugs Market, By Disease
- Eye Allergy
- Eye Infection
- Retinal Disorders
- Dry Eye
Ophthalmic Drugs Market, By Dosage
- Eye Solutions
- Eye Drops
Ophthalmic Drugs Market, By Administration
- Local Ocular
Ophthalmic Drugs Market, By Product
- Prescription Drugs
Ophthalmic Drugs Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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