Global Ophthalmic Drugs Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Ophthalmic Drugs Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global ophthalmic drugs market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global ophthalmic drugs market report has been segmented on the basis of diseases indication, therapeutic class, distribution channel, and region.
An ophthalmic drugs are medication used to treat eye infections. Ophthalmic drug forms have been one of the most important and widely developed areas of pharmaceutical technology over the few years.
Key factors expected to drive growth of the global ophthalmic drugs market is increasing incidence of ophthalmic disorders such as glaucoma, cataract, and other common eye infections. In addition, increasing healthcare expenditure, growing elderly population, growing awareness regarding ophthalmic drugs, rising age-related macular degeneration, developing medical facilities are among some other factors expected to drive growth of the global ophthalmic drugs market. Furthermore, favorable reimbursement policies, increasing accessibility for healthcare facilities, rapid development of the healthcare sector, are some another factors expected to drive growth of the global target market over the forecasted period. However, string regulatory approval is factor expected to hamper growth of the global ophthalmic drugs market to a certain extent in the forecast period. In addition, risk of adverse side effects associated with ophthalmic drugs and the longer timelines required for novel ophthalmic drugs hamper the growth of the target market.
Prominent players in the market are carrying out various R&D activities in order to develop novel ophthalmic drug as well as focus on getting regulatory authority approvals. These are some of the trends witnessed in the global ophthalmic drug market, currently. For instance, in December 2017, Spark Therapeutics Inc. which is a US-based company developed ‘Luxturna’ – that is indicated for vision loss and got FDA approval.
The market in North America is expected to dominate the global ophthalmic drugs market. This is primarily attributed to advancement in medical treatment procedures, rising healthcare expenditure, growing awareness of eye diseases, and huge research funding in ophthalmology in countries in the region. According to the American Academy of Ophthalmology in 2017, over 27.1 million of North American population is suffering from Primary Open Angle Glaucoma (POAG) and this number is expected to increase in the forecoming years. In contrast, the market in Asia Pacific is expected to be an emerging market for the global ophthalmic drugs market, and is expected to register highest CAGR in during the forecasted period, owing to huge patient pool, increasing demand, and development of the novel healthcare technology in the region. Moreover, the markets in Europe, Latin America and Middle East & Africa are expected to register high growth revenue in the global ophthalmic drugs market over the forecast period.
GLOBAL OPHTHALMIC DRUGS MARKET SEGMENTATION:
Segmentation by disease indication:
- Dry Eye
- Retinal Disorders
- Wet Age-related Macular Degeneration
- Dry Age-related Macular Degeneration
- Diabetic Retinopathy
- Others (includes Optic neuropathy, Eyelash hypotrichosis, etc.)
Segmentation by therapeutic class:
- Anti-inflammatory Drugs
- Nonsteroidal 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 Agents
- Others (includes Cyclosporine, etc.)
Segmentation by distribution channel:
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Santen Pharmaceutical Co., Ltd.
- Bausch & Lomb Inc. (Valeant Pharmaceuticals International, Inc.)
- Shire Plc
- Alcon (Novartis AG)
- Genentech, Inc.
- Allergan, Plc
- Sun Pharmaceutical Industries Limited
- Actavis Generics (Teva Pharmaceutical Industries Ltd.)
- Regeneron Pharmaceuticals, Inc.
- Pfizer Inc.
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