The global ophthalmic drugs market size is expected to reach USD 45.8 billion by 2027, registering a CAGR of 5.0%, according to a new report published by Radiant Insights, Inc. Advancements in drug delivery systems are anticipated to drive the overall growth.
In December 2017, Spark Therapeutics received Food and Drug Administration (FDA) approval for the first gene therapy drug in the ophthalmic market-Luxturna (voretigene neparvovec-rzyl). The drug is indicated for ophthalmic diseases associated with RPE65 gene mutation, such as retinitis pigmentosa and Leber’s congenital amaurosis.
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Increasing number of strategic mergers, acquisitions, and collaborations make the market for ophthalmic drugs a highly competitive space. However, there is ample scope for consolidation. Premium services and high-volume ancillary value-added businesses deliver supplementary benefits to customers and attract investments in the market. The reimbursement policies for ophthalmic treatment form a diversifying factor in the market.
Companies are constantly launching new products to expand their product portfolio and to attain higher share. For instance, in July 2019, Bausch & Lomb Incorporated announced launch of Ocuvite, an eye vitamin supplement to strengthen the macula for the U.S. market.
Due to increasing awareness of ophthalmic disorders and surge in the demand of these products, ophthalmic drug manufacturers are expanding their presence in the emerging economies by supporting various awareness campaigns in different regions. For instance, in 2016, Alcon announced their support to a public awareness program, Think About Your Eyes. The company committed USD 4 million to support this initiative and to promote awareness pertaining to vision care.
Further key findings from the study suggest:
• Anti-VEGF agents dominated the drug class segment in 2019 and is anticipated to register the fastest CAGR of 6.7% over the forecast period
• Retinal disorder held the largest market share in 2019 due to rising prevalence of diabetic retinopathy
• In 2019, macular degeneration was the largest retinal disorder segment and diabetic retinopathy was the fastest growing segment
• Eye drops held the leading ophthalmic drugs market share in 2019 and is projected to witness the highest CAGR during the forecast period as it is the most preferred form of drug delivery used for treating ocular diseases such as acute allergies, corneal ulcers, and glaucoma
• In 2019, topical route was the largest segment as it is non-invasive route of administration with high patient compliance
• The local ocular route is estimated to be the fastest growing segment over the forecast period
• Prescription drugs held the largest share in 2019 since it is considered to be more effective treatment
• North America led the market for ophthalmic drugs in 2019 due to high disease burden
• Asia Pacific is estimated to be the fastest growing market during the forecast period owing to rising disposable income along with growing awareness regarding various ophthalmic diseases
• Some of the key companies operating in the market are Novartis AG; Allergan PLC; Bausch & Lomb, Inc.; Pfizer, Inc.; Santen Pharmaceutical Co., Ltd.; Regeneron, Bayer AG; and Genentech, Inc.
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Table of Contents
Chapter 1. Methodology and Scope
1.1. Market segmentation & scope
1.2. Market definition
1.3. Information procurement
1.3.1. Purchased database
1.3.2. Radiant Insights internal database
1.3.3. Secondary sources & third party perspectives
1.3.4. Primary research
1.4. Information analysis
1.4.1. Data analysis models
1.5. Market formulation & data visualization
1.6. Data validation & publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Global Ophthalmic Drugs Market Variables, Trends & Scope
3.1. Ophthalmic Drugs Market Lineage outlook
3.1.1. Parent market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Pipeline Analysis
3.4. Cost Structure Analysis
3.5. Patent Expiry Scenario
3.6. Epidemiology
3.7. Regulatory Framework
3.8. User Perspective Analysis
3.9. Unmet Need Analysis
3.10. Primary Research Analysis
3.10.1. Factors estimated to impact on market growth
Continued…
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The global ophthalmic drugs market is witnessing rapid increase over the past few years, mainly due to the rising prevalence of eye-related diseases & disorders.
Recent advances in medical technologies such as AMPPLIFY technology that demonstrates higher delivery of a drug into ocular tissues are escalating the market on the global platform.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/5753An eminent research firm Market Research Future (MRFR) states that the global ophthalmic drugs market size had reached USD 29.46 BN in 2018, and the market valuation would further appreciate at around 5.1% CAGR during the forecast period (2019 to 2025).
Substantial R investments into drug discoveries are another major tailwind pushing the market growth excellently, bringing about novel medicines to treat various ophthalmic diseases.
Furthermore, recent development & commercialization of several drugs boost the market growth.Global Ophthalmic Drugs Market – SegmentsThe report has been segmented into five major dynamics.By Dosage Form : Eye Drops, Ointments, Solutions, Gels, Capsules & Tablets, and others.By Product Type : Prescription Drug and OTC Drug.By Drug Class : Antibiotics, Anti-Inflammatory, Anti-Glaucoma, and others.By Indication : Glaucoma, Retinal Disorder, Dry Eye, Eye Allergy, and others.By Regions : Europe, Americas, Asia Pacific, Middle East & Africa, and Rest-of-the-World.Global Ophthalmic Drugs Market – Regional AnalysisNorth America leads the global ophthalmic drugs heading with the presence of the many major players and a large patient population suffering from eye diseases.
Moreover, the availability of well-developed technology and high healthcare expenditures, alongside the rising prevalence of eye diseases in the region, drives the market growth significantly.Also, the growing demand for eye care led by the increasing numbers of patients suffering from chronic diseases such as diabetes, neurovascular, and different eye disorders impacts market growth positively.
Additionally, augmenting demand for the minimally invasive & technologically advanced treatments, alongside the governmental support for R funding are expected to drive the regional market growth, commutatively.Europe's ophthalmic drugs market is proliferating rapidly.
Transparency Market Research (TMR) has published a new report titled, ‘Ophthalmic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global Ophthalmic Drugs Market was valued at US$ 26,018.3 Mn in 2018 and is projected to expand at a CAGR of 4.1% from 2019 to 2027.Read Report Overview - https://www.transparencymarketresearch.com/ophthalmic-drugs-market.htmlOverviewOphthalmic Drugs are the anti-infectives drugs that contained in a product formulated especially to be instilled or applied in the eye or eyes.
Ophthalmic anti-infectives include eye drops, gels or ointments.
Highly structured health care industry and introduction of the Affordable Care Act in the U.S. are expected to drive the market in North America.Asia Pacific is likely to be a highly lucrative market for retinal disorders and it is expected to expand at a high CAGR during the forecast periodRequest Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1769Increasing incidence rates of eye related disorders to Drive MarketThere is an alarming rise in incidence of eye related diseases, especially in the developed countries, which is anticipated to drive the growth of the ophthalmic drugs market during 2017-2025According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from4 Mnin 2010, to 30.5 Mn by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 Mn in 2010 to 9.2 Mn in 2020The patients for open angle glaucoma and AMD in U.S., were 7 Mn and 2.1 Mn, respectively, which are projected to increase to3.3 Mn and 2.5 Mn, respectively, till 2020The increasing patient pool in developing countries as well as developed regions is estimated to propel healthcare spending for eye treatments in each region and drive the growth of the ophthalmic drugs market.Advanced retinal treatment approvals for unmet needs in eye disorders to drive the marketEye diseases such as chronic or recurrent uveitis, optic nerve, neurodegeneration retinitis pigmentosa, retinoblastoma, etc., lack an effective treatment option, and thus are categorized as unmet medical needs within the ophthalmologic diseases spaceSeveral new entrants are dedicated to provide specialized treatment methods for eye diseases:On May 18 2017,Spark Therapeutics, Inc. submitted the first and only Biological License Application to the U.S. FDA for the treatment of Leber’s congenital amaurosis by gene therapyOn March 25 2015, Regeneron Pharmaceuticals Inc., announced the approval of Eylea, the first VEGF inhibitor approved for dosing on a less than monthly basis for the treatment of diabetic macular edemaSevere inflammatory eye diseases, such as uveitis, lacked a solid treatment option earlier to the FDA approval of Humira for the indication of non-infectious intermediate, posterior, and panuveitis in adult patientsIn June 2016,the U.S. FDA approved the first and only biologic approved drug, Humira, for the treatment of uveitisSuch approvals for advanced treatment options for the treatment of unmet medical needs in the field of eye disorders are projected to boost the expansion of the global ophthalmic drugs marketRequest COVID Analysis on Ophthalmic Drugs Market – https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19_id=1769Dry Eye Segment to Dominate MarketBased on Disease Indication, the global Ophthalmic Drugs Market has been divided into Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders, Allergy, Uveitis, Others.
The Retinal Disorders segment has been bifurcated into Wet AMD, Dry AMD, Diabetic Retinopathy, Others.
The market is witnessing significant transformations due to changing Medicare policies in the U.S., pricing of branded specialty drugs, and the rising patient pool.The increasing patient number along with rising health initiatives for treatment awareness are projected to drive the demand for ophthalmic drugs in this region.The Ophthalmic Drugs Market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027.
The global ophthalmic drugs market size is expected to reach USD 45.8 billion by 2027, registering a CAGR of 5.0%, according to a new report published by Radiant Insights, Inc. Advancements in drug delivery systems are anticipated to drive the overall growth.
In December 2017, Spark Therapeutics received Food and Drug Administration (FDA) approval for the first gene therapy drug in the ophthalmic market-Luxturna (voretigene neparvovec-rzyl).
Download Free Sample Report @ https://www.radiantinsights.com/research/ophthalmic--drugs-market/request-sample Increasing number of strategic mergers, acquisitions, and collaborations make the market for ophthalmic drugs a highly competitive space.
Premium services and high-volume ancillary value-added businesses deliver supplementary benefits to customers and attract investments in the market.
For instance, in July 2019, Bausch & Lomb Incorporated announced launch of Ocuvite, an eye vitamin supplement to strengthen the macula for the U.S. market.
Due to increasing awareness of ophthalmic disorders and surge in the demand of these products, ophthalmic drug manufacturers are expanding their presence in the emerging economies by supporting various awareness campaigns in different regions.
