Global Ophthalmic Anesthetic Drugs Market, By Type (Local, General, Topical), Drugs (Proparacaine 0.5%, Tetracaine Hydrochloride, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, the ophthalmic anesthetic drugs market is anticipated to grow rapidly during the forecast period. Pain and other sensations are blocked by anaesthetic medications supplied via inhalation or injection. They induce a deep slumber that is devoid of all sensations. According to the law, surgical operations and other medical procedures can be performed on patients without causing them undue distress or discomfort. Anesthetic treatments are used in a wide range of surgical procedures involving the eyes. The type of anaesthetic chosen is determined by a number of criteria, including the surgeon's preference, the type of surgery, and the patient's cooperation. In the realm of ocular anaesthetics, the use of topical anaesthetic has increased in recent decades.
Data Bridge Market Research analyses that the ophthalmic anesthetic drugs market was valued at USD 121.42 million in 2021 and is expected to reach USD 155.61 million by 2029, registering a CAGR of 3.15% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Ophthalmic anesthetics are used in medical situations to calculate intraocular pressure using applanation tonometry, perform ophthalmic surgery, remove superficial foreign bodies, and detect eye injuries early. When applied topically to the conjunctiva and cornea, ophthalmic anesthetic molecules impede nerve impulse conduction. The numerous branches of the trigeminal nerve innervate the ocular surface. Topical anesthetics diminish sodium ion penetrability, which reduces nerve impulse circulation, raises the excitation threshold, and prevents nerve impulse creation and transmission. These actions of anesthetics prevent the brain from perceiving nosogenic stimuli by inhibiting transmission along the axons.
Report Scope and Market Segmentation
2022 to 2029
2020 (Customizable to 2019 - 2014)
Revenue in USD Million, Volumes in Units, Pricing in USD
Type (Local, General, Topical), Drugs (Proparacaine 0.5%, Tetracaine Hydrochloride, Others), End-Users (Hospitals, Specialty Clinics, Homecare, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (US), Teva Pharmaceutical Industries Ltd. (Israel), Sanofi (France), Pfizer Inc. (US), GlaxoSmithKline plc (UK), Novartis AG (Switzerland), AstraZeneca (UK), Johnson & Johnson (US), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (US), Eli Lilly and Company (US), Cipla Inc. (US), Aurobindo Pharma (India), Lupin (India), Abbott (US), Akorn, Incorporated (US), Bausch Health Companies Inc. (Canada), Alcon Vision LLC (Switzerland), Allergan (Ireland), Alves Health care (India), Regeneron Pharmaceuticals Inc. (US)
Ophthalmic Anesthetic Drugs Market Dynamics
- Increasing prevalence of eye disorders
The rising prevalence of eye disorders such as diabetic retinopathy among the aging population, presbyopia and macular degeneration is estimated to enhance the market's growth. As per the National Eye Institute, the number of people with AMD in the United States is expected to rise from 2.07 million in 2030 to 5.44 million in 2050. In diabetic retinopathy, the total number of cases in the United States is expected to reach 14.6 million by 2050.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of ophthalmic anesthetic drugs market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
- Growing number of geriatric population
The surging geriatric population is estimated to enhance the market's expansion during the forecast period of 2022-2029. According to the World Health Organization (WHO), the worldwide geriatric population, which was estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to eye diseases, further estimated to enhance themarket's growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness and surging incidences of diabetes will expand the ophthalmic anesthetic drugs market. Additionally, changing people's lifestyle and the rising number of ophthalmic operations to correct eye-related disorders will result in the expansion of the ophthalmic anesthetic drugs market.
- Increase in the number of research and development activities
Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the ophthalmic anesthetic drugs market growth. Along with this, rising drug approvals and launches will further propel the market's growth rate.
Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the ophthalmic anesthetic drugs market growth during the forecast period.
On the other hand, the high cost associated with product development and distribution will obstruct the growth rate of market. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the ophthalmic anesthetic drugs market. Additionally, side effects associated with ophthalmic anesthetic drugs and lack of awareness among people will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This ophthalmic anesthetic drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the ophthalmic anesthetic drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Patient Epidemiology Analysis
Ophthalmic anesthetic drugs market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.
COVID-19 Impact on Ophthalmic Anesthetic Drugs Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in many nations had imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous countries throughout the world were having difficulty continuing their supply chain activities. The supply chain slowness hampered the ophthalmic anesthetic drugs market.
Global Ophthalmic Anesthetic Drugs Market Scope
The ophthalmic anesthetic drugs market is segmented on the basis of type, drugs, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Facial block
- Retrobulbar block
- Peribulbar block
- Proparacaine 0.5%
- Tetracaine Hydrochloride
- Specialty Clinics
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Ophthalmic Anesthetic Drugs Market Regional Analysis/Insights
The ophthalmic anesthetic drugs market is analysed and market size insights and trends are provided by country, type, drugs, end-users and distribution channel as referenced above.
The countries covered in the ophthalmic anesthetic drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
North America dominates the ophthalmic anesthetic drugs market because of the rising number of research and development activities in this region. Additionally, rising healthcare expenditure and presence of major key players will further propel the market's growth rate in this region.
Asia-Pacific are expected to grow during the forecast period due to surging prevalence of eye disorders in this region. Also, the development of healthcare infrastructure and rising government initiatives will further propel themarket's growth rate in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Ophthalmic Anesthetic Drugs Market Share Analysis
The ophthalmic anesthetic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to ophthalmic anesthetic drugs market.
Some of the major players operating in the ophthalmic anesthetic drugs market are:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (US)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France)
- Pfizer Inc. (US)
- GlaxoSmithKline plc (UK)
- Novartis AG (Switzerland)
- AstraZeneca (UK)
- Johnson & Johnson (US)
- Sun Pharmaceutical Industries Ltd. (India)
- Eli Lilly and Company (US)
- Cipla Inc. (US)
- Aurobindo Pharma (India)
- Lupin (India)
- Abbott (US)
- Akorn, Incorporated (US)
- Bausch Health Companies Inc. (Canada)
- Alcon Vision LLC (Switzerland)
- Allergan (Ireland)
- Alves Health care (India)
- Regeneron Pharmaceuticals Inc. (US)
Research Methodology: Global Ophthalmic Anesthetic Drugs Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.