Ophthalmic Drugs Market Size, Growth and Trends Analysis By Dosage Form (Eye Drops, Eye Ointments, Eye Solutions, Gels, Capsules & Tablets), Product Type (Prescription Drug and OTC Drug), Drug Class (Antibiotics, Anti-Inflammatory, Anti-Glaucoma), Indication (Glaucoma, Retinal Disorder, Dry Eye, Eye Allergy) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) – Forecast till 2025
Ophthalmic Drugs Market Overview
Market Research Future (MRFR) assessed the global ophthalmic drugs market through the assessment period from 2019 to 2025. The ophthalmology drugs market can expand at 5.1% CAGR across the review period. By 2025, the ophthalmology drugs market value can touch USD 29.46 Bn. COVID 19 impact on the ophthalmic drugs market size is discussed in the report. Portable gadgets, such as laptop, tablets, and smartphones among others have rapidly replaced traditional working methods across both private and government sectors. In the pandemic, BYOD culture is trending. These devices offer high consumer convenience.
However, prolonged hours of working with such gadgets is often reported to have adverse effect on eye health. At the same time, slashing mobile working devices is not a solution. Thus, the demand for novel ophthalmic drugs is observed to surge that can underpin the expansion of its market in the near future. The increase in cases of diabetic retinopathy, myopic choroidal neovascularization, and retinal vein occlusion (RVO) among others is observed to encourage R&D for the introduction of new ophthalmic formulation. This can also encourage the expansion of the worldwide ophthalmic drugs market.
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Ophthalmic Drugs Market Segmentation
The segment study of the global ophthalmic drugs market is done by drug class, indication, type of dosage, distribution channel, and product.
The indication-based segments of the ophthalmic drugs market are retinal disorders, glaucoma, inflammation or infection, allergies, dry eye, and uveitis among others.
The drug class-based segments of the ophthalmic drugs market are anti-VEGF agents, antiallergy, anti-glaucoma, and anti-inflammatory among others. The sub-segments of the anti-inflammatory segment are steroidal drugs and nonsteroidal drugs.
The dosage-based segments of the ophthalmic drugs market are eye solutions, eye drops, capsules and tablets, gels, and ointments.
The product-based segments of the ophthalmic drugs market are OTC drugs and prescription drugs.
The distribution channel-based segments of the ophthalmic drugs market are online pharmacies, hospital pharmacies, and drug stores among others.
Ophthalmic Drugs Market Regional Analysis
In the Americas, the ophthalmic drugs market can maintain its hegemony over the global market as the number of geriatrics is observed to rise, along with the existence of reputed players.
Europe ophthalmic drugs market can thrive as well-known healthcare leaders are investing substantially in R&D to introduce more effective eye treatment formulations. In addition, the increase in prevalence of eye malaises can promote the expansion of the market.
In APAC, the ophthalmic drugs market can experience a steady growth across the forecast period. The rise in pool of eye disorder patient and the developing healthcare infrastructure can drive the regional market in the near future.
In the Middle East and Africa, the ophthalmic drugs market is estimated to account for the least global market share owing to the low per capita income.
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Ophthalmic Drugs Market Key Players
Allergan Plc, Actavis Generics, Genentech, Inc., Bausch & Lomb Inc., Pfizer Inc., Merck & Co., Inc., Santen Pharmaceutical Co., Ltd., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals, Inc., Sun Pharmaceutical Industries Limited, Valeant Pharmaceuticals International, Inc., and Shire Plc among others are some renowned names in the ophthalmic drugs market that are recognized by MRFR.
Scope of the Ophthalmic Drugs Market report
The ophthalmic drugs market report reveals growth dynamics of the market for the assessment period. Major growth indicators and restraints of the market are elaborated in the report. Modern market research methods are deployed with a bottom-up approach to study the market to dispatch reliable data. Segment analysis of the ophthalmic drugs market is done to deliver precise information. The regional evaluation of the ophthalmic drug market reveals geographic progress of the market. Contributions and role of key players of the ophthalmic drugs market are explained in the report.
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