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    Ophthalmic Pharmaceutical Drugs Market Growth Analysis

    Ophthalmic Pharmaceutical Drugs Market Growth Analysis
    Report code - SR1438 Delivery - 2 Weeks
    Ophthalmic Pharmaceutical Drugs Market Size, Share, Growth, Forecast, & Industry Analy See more...

    Market Insights

    The Ophthalmic Pharmaceutical Drugs Market is estimated to grow from USD 38.1 Billion in 2021 to USD 58.52 Billion by 2028 at a healthy CAGR of 6.29% during the forecast period.

    Ophthalmic Pharmaceutical Drugs Market Size

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    What are ophthalmic pharmaceutical drugs?

    Ophthalmic pharmaceutical drugs are the drugs that are used to treat eye infections and various types of eye conditions. Ophthalmic diseases, such as diabetic macular edema (DME), age-related macular degeneration (AMD), retinal vein occlusion (RVO), diabetic retinopathy, and myopic choroidal neovascularization, are potential threats to an individual’s sight.

    Ophthalmic Pharmaceutical Drugs Market Report Overview

    Market Size in 2028

    USD 58.52 Billion

    Market Size in 2021

    USD 38.1 Billion

    Market Growth (2022-2028)

    6.29% CAGR

    Base Year of Study

    2021

    Trend Period

    2017-2020

    Forecast Period

    2022-2028

    Key Players

    Key players operating in the ophthalmic pharmaceutical drugs market are-

    • AbbVie Inc. (Allergan plc) (US)
    • Alcon Inc. (Switzerland)
    • Bausch & Lomb Incorporated (Canada)
    • F. Hoffmann-La Roche Ltd (Genentech, Inc.) (Switzerland)
    • Novartis AG (Switzerland)
    • Pfizer Inc. (US)
    • Regeneron Pharmaceuticals Inc.
    • Santen Pharmaceutical Co., Ltd. (Japan)
    • Sun Pharmaceutical Industries Ltd. (India)
    • Teva Pharmaceutical Industries Ltd. (Actavis Generics) (Israel).

    Market Dynamics

    The increasing prevalence of eye diseases such as glaucoma, cataract, and macular degeneration; the rise in geriatric population; growth in demand for ophthalmic drugs, and a surge in investment in R&D activities by various healthcare companies are some of the key factors augmenting the market growth. Also, an increase in awareness about healthcare to prevent the risk of eye diseases, a rise in demand for ophthalmic drugs, and growing initiatives taken by the government for the development & manufacturing of different combinations of ophthalmic drugs further boost the industry growth.

    COVID-19 Impact

    The COVID-19 outbreak has moderately affected the ophthalmic pharmaceutical drugs industry. The virus outbreak has turned the lives of people worldwide, with the number of cases increasing rapidly. The COVID-19 crisis has reduced the number of visits to ophthalmology clinics and eye surgeries was postponed to curb the spread of the virus, thus affecting the market growth amid the pandemic.

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    Segment Analysis

    By Type

    The market has been segmented into (Prescription Drugs, and OTC Drugs). The Prescription Drugs segment accounted for a revenue share of nearly 60% in 2021.

    Class Type

    The market is classified into antiallergy, anti-VEGF agents, anti-inflammatory antiglaucoma, and others. The Anti-VEGF Agents segment accounted for a revenue share of more than 30% in 2021 and is estimated to register a healthy CAGR during the forecast timeline. This is mainly attributed to the growing adoption rate and large presence of global industry players with extensive product portfolios. The segment growth is propelled by robust commercial performances of Avastin (bevacizumab), Lucentis (ranibizumab), and Macugen (pegaptanib), which bolsters the segment growth.

    Disease Type

    The market has been segmented into (Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders [Macular Degeneration, Diabetic Retinopathy, and Others], Uveitis, and Others). The Retinal Disorders segment accounted for a revenue share of more than 30% in 2021.

    Dosage Type

    The market has been segmented into (Gels, Eye Solutions, Capsules & Tablets, Eye Drops, and Ointments). The Eye Drops segment accounted for a revenue share of more than 34.0% in 2021.

    Regional Analysis

    The North American market accounted for a revenue share of more than 35% in 2021 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a surge in the number of cataract surgeries performed, high consumer awareness, the presence of excellent healthcare infrastructure, the large presence of a majority of major players, and a rise in government intervention for the prevention of visual impairment, thereby proliferating the regional market growth.

     

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    Market Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories-

    By Type

    • Prescription Drugs
    • OTC Drug

    By Class Type 

    • Antiallergy
    • Anti-VEGF Agents
    • Anti-inflammatory [Nonsteroidal Drugs, Steroidal Drugs]
    • Antiglaucoma
    • Others

    By Disease Type 

    • Dry Eye
    • Eye Allergy
    • Glaucoma
    • Eye Infection
    • Retinal Disorders [Macular Degeneration, Diabetic Retinopathy, Others]
    • Uveitis
    • Others

    By Dosage Type

    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye Drops
    • Ointments

    By Region

    • North America
    • Asia-Pacific
    • Europe
    • Rest of the World

    Target Audience

    Here is the list of the group of customers that the ophthalmic pharmaceutical drugs market hopes to have the greatest opportunity to convert-

    • Distributors
    • Suppliers
    • Manufacturers
    • Logistics organizations
    • Government bodies

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What deliverables will you get in this report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Ophthalmic Pharmaceutical Drugs Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Research Methodology

     

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    Ophthalmic pharmaceutical drugs are the drugs that are used to treat eye infections and various types of eye conditions. Ophthalmic diseases, such as diabetic macular edema (DME), age-related macular degeneration (AMD), retinal vein occlusion (RVO), diabetic retinopathy, and myopic choroidal neovascularization, are potential threats to an individuals sight.

    The ophthalmic pharmaceutical drugs market was estimated to grow from USD 38.1 billion in 2021 to USD 58.52 billion by 2028.

    The ophthalmic pharmaceutical drugs market is expected to witness an impressive growth of 6.29% CAGR in the coming years.

    AbbVie Inc. (Allergan plc) (US), Alcon Inc. (Switzerland), Bausch & Lomb Incorporated (Canada), F. Hoffmann-La Roche Ltd (Genentech, Inc.) (Switzerland), Novartis AG (Switzerland), Pfizer Inc. (US), Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co., Ltd. (Japan), Sun Pharmaceutical Industries Ltd. (India), Teva Pharmaceutical Industries Ltd. (Actavis Generics) (Israel).

    The North American market accounted for a revenue share of more than 39.5% in 2021.

    Increasing prevalence of eye diseases such as glaucoma, cataract, and macular degeneration; Rise in geriatric population; growth in demand for ophthalmic drugs, and a surge in investment in R&D activities by various healthcare companies are some of the key factors augmenting the market growth. Also, an increase in awareness about healthcare to prevent the risk of eye diseases, a rise in demand for ophthalmic drugs, and growing initiatives taken by the government for the development & manufacturing of different combinations of ophthalmic drugs further boost the industry growth.

    The Prescription Drugs segment held a significant market share in 2021.

    By Type (Prescription Drugs, OTC Drugs), By Class (Antiallergy, Anti-VEGF Agents, Anti-inflammatory [Nonsteroidal Drugs, Steroidal Drugs], Antiglaucoma, Others), By Disease (Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders [Macular Degeneration, Diabetic Retinopathy, Others], Uveitis, Others), By Dosage (Gels, Eye Solutions, Capsules & Tablets, Eye Drops, Ointments), and Region - COVID-19 Impact Analysis and Forecast to 2028.