Global Ophthalmic Drugs Market, By Drugs (Anti-Infective, Anti-Angiogenic, Anti-Inflammatory, Anti-Allergy, Anti-Vascular Endothelial Growth Factor, Anti-Glaucoma, Others), Application (Retinal Disorders, Eye Allergy, Dry Eye, Glaucoma, Uveitis, Eye Infection, Cataract, Others), Route of Administration (Topical, Systemic, Ocular, Others), End-Users (Hospitals, Specialty Clinics, Others), Distribution Channel (Direct, Indirect) – Industry Trends and Forecast to 2030.
Ophthalmic Drugs Market Analysis and Size
Rise in incidence of eye disorders such as glaucoma and dry eye disease is pushing the market. As per the October 2021 report of World Health Organization on blindness and vision impairment, it is expected that nearly 2.2 billion people have distance or near vision impairment disorders. Increasing research and development activities and spending by major market players is likely to increase the ophthalmic drugs market growth during the forecast period 2023-2030. It was observed that the infection segment is expected to experience constant growth during the forecast period.
Data Bridge Market Research analyses a growth rate in the ophthalmic drugs market in the forecast period 2023-2030. The expected CAGR of ophthalmic drugs market is tend to be around 7.3% in the mentioned forecast period. The market is valued at USD 28.3 million in 2022, and it would grow upto USD 49.73 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Ophthalmic Drugs Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Drugs (Anti-Infective, Anti-Angiogenic, Anti-Inflammatory, Anti-Allergy, Anti-Vascular Endothelial Growth Factor, Anti-Glaucoma, Others), Application (Retinal Disorders, Eye Allergy, Dry Eye, Glaucoma, Uveitis, Eye Infection, Cataract, Others), Route of Administration (Topical, Systemic, Ocular, Others), End-Users (Hospitals, Specialty Clinics, Others), Distribution Channel (Direct, Indirect)
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Countries Covered
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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
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Market Players Covered
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Akorn, Incorporated (U.S.), Johnson & Johnson Services, Inc. (U.S.), Mitotech, SA (Germany), AbbVie Inc. (U.S.), Santen Pharmaceutical Co., Ltd (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Bausch Health Companies Inc. (Canada.), AERIE PHARMACEUTICALS, INC. (U.S.), Novartis AG (Switzerland), Merck & Co. Inc. (U.S.), Bayer AG (Germany), and F. Hoffmann-La Roche Ltd (Switzerland)
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Market Opportunities
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Market Definition
Ophthalmic drugs are widely used to treat numerous eye diseases such as cataracts, diabetic retinopathy, glaucoma, and myopic choroidal. Some of the most prevalent eye diseases among children and adults are genetically determined. Ophthalmic drugs have been classified into anti-infective drugs, anti-glaucoma drugs, anti-VEGF agents, anti-inflammatory drugs, anti-allergy drugs, and others
Ophthalmic Drugs Market Dynamics
Drivers
- Increasing Research and Clinical Activities
Rising R&D activities and spending by major market players are expected to increase the growth of ophthalmic drugs during the projected period 2023-2030. For an instance, Alcon a leader in eye care spent USD 842 million on R&D in 2021 compared to USD 673 million in 2020. Alcon has an extensive range of products such as cataracts, contact lenses, and glaucoma products. Furthermore, increasing presence of a huge clinical drug process of promising candidates is likely to increase the market growth. For instance, Nicox, a novel eye therapeutics company has investigational candidate NCX 470- a novel NO donating PG analog is under its phase III trial and is anticipated to be marketed by 2029. Therefore, this factor increases the growth of the market.
- Rising Demand of Anti-VEGF Agents
The rising demand and wide adoption of anti-VEGF agents augment the increasing growth of the anti-VEGF agents segment. For instance, LUCENTIS manufactured by Genentech USA is a prescription medicine used for the treatment of patients suffering from diabetic retinopathy, AMD, and myopic choroidal neovascularization. Additionally, the growth of anti-VEGF agents is also due to the strong performance of Avastin, LUCENTIS, and others. The current class of anti-VEGF medications is very effective. Thus, this factor is boosting the growth of the market.
Opportunities
- Increased Product Launches
Several novel product launches with formulation modifications are also estimated increase the market growth. For instance, Alcon announced the launch of its novel system complete preservative-free eye drop in January 2022. In addition to this, the wide presence of novel technology to improve bioavailability and physiochemical stability is estimated to boost the growth rate. In July 2021, Bosch and Lomb announced the U.S. launch of Biotrue, hydration lubricant eye drops. This product is derived from a natural source and is preservative free. Thus, all these launches increase the market growth.
- Rising Adoption of OTC Drugs
There are several OTC drugs that are launched by several market players and are widely accepted by the people that increase the market growth. For instance, Théa Pharma Inc announced the commercial availability of iVIZIA line of OTC eye care products in the U.S. in April 2022. They are commercially available in numerous dosage forms, including gels, capsules, ointment, emulsions, and eye drops. Some of the most commonly prescribed OTC products include Brolene (Sanofi); Zaditor (Alcon, Inc.); Otrivine-Antistin (Novartis Consumer Health); Alaway (Bausch & Lomb, Inc.); Golden Eye Ointment (Sigma Pharmaceuticals). Thus, this factor helps to create much opportunities for the growth of the market.
Restraints/Challenges
- Side Effects of Ophthalmic Drugs
There are various side-effects associated with the ophthalmic drugs. Effects such as Blurred vision, sensitivity of eyes to light, stinging of the eye, fever or chills, itching or tearing, nausea or vomiting. Besides this, the eye drops contain many preservatives and thickeners. These ingredients may irritate the eyes in the long term. Other risks include contamination and loose safety seals. This impedes the market growth.
This ophthalmic 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 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.
Recent Development
- In 2022, Sandoz, a Novartis company, launched its generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5%, an AB-rated generic equivalent to AbbVie’s COMBIGAN. It will help to lower eye pressure in patients suffering from ocular hypertension (high eye pressure) in the United States.
- In 2022, Théa Pharma acquired seven branded ophthalmic products from Akorn Operating Company LLC. The deal supports Théa’s position as a major provider of products developed to satisfy the demands of eye care specialists across the U.S.
Global Ophthalmic Drugs Market Scope
The ophthalmic drugs market is segmented on the basis of drugs, application, route of administration, end user, 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.
Drugs
- Anti-Infective
- Anti-fungal Drugs
- Anti-bacterial Drugs
- Others
- Anti-Angiogenic
- Anti-Inflammatory
- NSAIDs
- Steroids
- Anti-Allergy
- Anti-Vascular Endothelial Growth Factor
- Anti-Glaucoma
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Combined Medication
- Others
- Others
Application
- Retinal Disorders
- Eye Allergy
- Dry Eye
- Glaucoma
- Uveitis
- Eye Infection
- Cataract
- Others
Route of Administration
- Topical
- Systemic
- Ocular
- Others
End Users
- Hospitals
- Specialty Clinics
- Others
Distribution Channel
- Direct
- Indirect
Ophthalmic Drugs Market Regional Analysis/Insights
The ophthalmic drugs market is analyzed and market size insights and trends are provided by drugs, application, route of administration, end user and distribution channel as referenced above.
The major countries covered in the ophthalmic drugs market report are the 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 has been witnessing a positive growth for ophthalmic drugs market throughout the forecasted period due to the increased prevalence of eye diseases, and increasing awareness about eye diseases. Furthermore, growing research and development by major market players is also estimated to boost the regional growth. Additionally, the wide presence of leading players such as Alcon, Pfizer Inc, and Bausch and Lomb are increasing the growth rate by launching several products.
Asia-Pacific dominates the market because of the wide presence of a large patient base, high disease incidence, and the emergence of local companies. Additionally, numerous strategic initiatives undertaken by major market players are also projected to boost regional growth. For instance, Otsuka Pharmaceutical Co., Ltd., and Senju Pharmaceutical Co., Ltd. announced the launch of a combination ophthalmic solution, AILAMIDE used for the treatment of ocular hypertension and glaucoma in June 2020.
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. 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 Global Ophthalmic Drugs Market Share Analysis
The ophthalmic 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 drugs market.
Key players operating in the ophthalmic drugs market include:
- Akorn, Incorporated (U.S.)
- Johnson & Johnson Services, Inc. (U.S.)
- Mitotech, SA (Germany)
- AbbVie Inc. (U.S.)
- Santen Pharmaceutical Co., Ltd (Japan).
- Teva Pharmaceutical Industries Ltd.(Israel)
- Bausch Health Companies Inc. (Canada.)
- AERIE PHARMACEUTICALS, INC. (U.S.)
- Novartis AG (Switzerland)
- Merck & Co. Inc. (U.S.)
- Bayer AG (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
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