South Korea Ophthalmic Drugs Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Prescription Drug and OTC Drug), By Dosage Form (Eye Drops, Eye Ointments, Eye Solutions, Gels, Capsules Tablets, and Others), and South Korea Ophthalmic Drugs Market Insights, Industry Trend, Forecasts to 2035

South Korea Ophthalmic Drugs Market Insights Forecasts to 2035

• The South Korea Ophthalmic Drugs Market Size was Estimated at USD 758.0 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 6.5% from 2025 to 2035
• The South Korea Ophthalmic Drugs Market Size is Expected to Reach USD 1515.0 Million by 2035

According to a Research Report Published by Spherical Insights & Consulting, the South Korea Ophthalmic Drugs Market Size is Anticipated to Reach USD 1515.0 Million by 2035, Growing at a CAGR of 6.5% from 2025 to 2035. growing as a result of the aging population and the rise in the incidence of long-term eye conditions like dry eye syndrome and glaucoma. The market is growing faster due to government healthcare reforms, increased access to ophthalmic care, and technological developments in medication formulations.

Market Overview

The market for ophthalmic drugs in South Korea is the area of the pharmaceutical industry devoted to the creation, manufacturing, and distribution of drugs for the treatment of conditions affecting the eyes. Additionally, the increasing prevalence of vision-related problems brought on by the rise in digital device use has increased the demand for ophthalmic drugs. The government of South Korea is actively supporting research and development projects, helping regional pharmaceutical firms improve their capacity for developing new drugs. The biotechnology industry offers encouraging prospects for the creation of innovative eye medications. Potential advancements in targeted therapies and personalized medicine for ocular conditions could result from local businesses' growing emphasis on biopharmaceuticals. Furthermore, patients now have easier access to eye care specialists due to telemedicine and digital platforms, which has led to a trend towards digital health solutions. The market for ophthalmic medications is trending toward integrated healthcare solutions, which combine cutting-edge technology with conventional therapies. The South Korean healthcare system may eventually gain from better patient outcomes and compliance as a result of this. The continuous initiatives to improve patient education and increase awareness about eye health also support the market's upward trend and are in line with national health goals to lessen the prevalence of ocular diseases.

Report Coverage

This research report categorizes the market for the South Korea ophthalmic drugs market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea 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-segment of the South Korea ophthalmic drugs market.

Driving Factors

A significant factor propelling the South Korean ophthalmic drugs market is the country's rising prevalence of chronic eye conditions. Chronic eye diseases like glaucoma and diabetic retinopathy have become more common, with reports indicating a 30% increase in the past ten years, according to the Health Insurance Review and Assessment Service. This concerning pattern emphasizes the importance of the ophthalmic drug market in meeting these growing demands by necessitating the immediate need for particular therapeutic interventions. The importance of this trend on market growth is further highlighted by government programs for early diagnosis and treatment.

Restraining Factors

The market for ophthalmic medications in South Korea is constrained by regulatory barriers, high development costs for sophisticated formulations, and restricted access to specialized ophthalmologists. Additionally, reliance on imported medications, dispersed distribution networks, and a lack of knowledge about chronic eye conditions impede domestic innovation and the gradual uptake of newer treatments.

Market Segmentation

The South Korea ophthalmic drugs market share is classified into product type and dosage form.

• The prescription drug segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea ophthalmic drugs market is segmented by product type into prescription drug and OTC drug. Among these, the prescription drug segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The growing prevalence of ocular diseases means that the Prescription Drugs segment is still essential because it treats a wide range of complicated eye conditions and disorders, guaranteeing a sizeable portion of market activity. The need for efficient prescription treatments is fueled by South Korea's aging population, which also encourages innovation and advancements in this field.

• The eye drops segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea ophthalmic drugs market is segmented by dosage form into eye drops, eye ointments, eye solutions, gels, capsules tablets, and others. Among these, the eye drops segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Eye drops are a popular choice for both patients and medical professionals because of their simplicity of use and direct contact with ocular tissues, which has led to their widespread acceptance as a method of medication delivery in ophthalmology.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea 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

• Hanmi Pharmaceutical
• Daewoong Pharmaceutical
• Chong Kun Dang Pharma
• Boryung Pharmaceutical
• Ildong Pharmaceutical
• Others

Recent Developments:

• In February 2025, Alvotech and Teva’s biosimilar aflibercept (AVT06) received Biologics License Application acceptance, promising cheaper retinal-disease therapy.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Ophthalmic Drugs Market based on the below-mentioned segments:

South Korea Ophthalmic Drugs Market, By Product Type

• Prescription Drug
• OTC Drug

South Korea Ophthalmic Drugs Market, By Dosage Form

• Eye Drops
• Eye Ointments
• Eye Solutions
• Gels
• Capsules Tablets
• Others