Ophthalmic Drugs Market Competitive Landscape, Business Statistics and Research Report 2027
The rise in the number of visually impaired population is increasing in tandem with the rise in geriatric population. Eye diseases such as Retinal Vein Occlusion (RVO), Wet AMD, Myopic Choroidal Neovascularization (mCNV), diabetic retinopathy, and others are on the rise which generates high demand for ophthalmic drugs. Moreover, a rise in the volume of cataract surgeries followed by a high incidence rate of glaucoma and dry eye are among major growth factors for the global ophthalmic drugs market.
The global ophthalmic drugs market is estimated to expand at a CAGR of 6% over the forecast period of 2017-2023, predicts Market Research Future (MRFR) in a detailed study. Cutting edge research and development activities by pharmaceutical companies to develop drugs which can cater to the huge unmet needs of the population have resulted in innovation in the ophthalmic drugs industry.
In recent years, the market has witnessed a substantial rise in the number of US FDA approvals for novel drugs which have further Ophthalmic Drugs Market Trends. Furthermore, a high number of new drugs are already in the pipeline which is expected to fuel the growth of the market over the forecast period.
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Segmentation
The global ophthalmic drugs market has been segmented based on indication, drug class, type of dosage, product, and distribution channel.
By Indication
- Glaucoma
- Retinal disorders
- Inflammation/infection
- Dry eye
- Allergies
- Uveitis
- Others
By Drug Class
- Antiallergy
- Anti-inflammatory
- Anti-vegf agents
- Antiglaucoma
- Others
By Type of Dosage
- Eye drops
- Eye solutions
- Ointments
- Capsules and tablets
- Gels
By Product
- Prescription drugs
- Otc drugs
By Distribution Channel
- Hospital pharmacies
- Online pharmacies
- Drug stores
- Others
Competitive Landscape
The key players in the global ophthalmic drugs market are inclusive of
- Sun Pharmaceutical Industries Limited
- Santen Pharmaceutical Co., Ltd.
- Shire Plc
- Bausch & Lomb Inc.
- Pfizer Inc.
- Merck & Co., Inc.
- Teva Pharmaceutical Industries Ltd.
- Genentech, Inc.
- Valeant Pharmaceuticals International, Inc.
- Regeneron Pharmaceuticals, Inc.
- Allergan Plc
- Actavis Generics
- Others
Regional Analysis
By region, the global ophthalmic drugs market has been segmented into the Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
The Americas is reigning the global ophthalmic drugs market on account of the high prevalence of eye diseases, high healthcare expenditure and the existence of key players in the region. Plus, the FDA is also approving many ophthalmic drugs in the region which has boosted the growth of the market.
Europe follows the Americas closely and accounts for the second most significant share of the market. R&D funding by the government, growing presence of key players in the region, and improving reimbursement scenario in the region supports the growth of the market.
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APAC is likely to emerge as the fastest growing market for ophthalmic drugs. massive patient pool, development of healthcare technology and expansion of the pharmaceutical industry in the region. Increasing healthcare expenditure and improving reimbursement policies are further favoring the growth of the market.
The MEA market is likely to exhibit sluggish growth due to low penetration of healthcare facilities and low healthcare expenditure.
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