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    Ophthalmic Pharmaceutical Drugs Market Report

    Ophthalmic Pharmaceutical Drugs Market Report
    Report code - SR1438 Delivery - 2 Weeks
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    Ophthalmic Pharmaceutical Drugs Market Trends, Dynamics & Market Insights
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    Impact of COVID-19 on Ophthalmic Pharmaceutical Drugs Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Ophthalmic Pharmaceutical Drugs Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Insights

    The Ophthalmic Pharmaceutical Drugs Market is estimated to grow from USD 36.5 billion in 2020 to USD 53.2 billion by 2026 at a healthy CAGR of 6.6% during the forecast period.

    Figure: Ophthalmic Pharmaceutical Drugs Market Size, 2020-2026 (USD Billion)

    Ophthalmic-Pharmaceutical-Drugs-Market-Forecast

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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.

    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

    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. 

    Segments' Analysis

    Class Trends

    Based on class, the ophthalmic pharmaceutical drugs market is classified into antiallergy, anti-VEGF agents, anti-inflammatory antiglaucoma, others. The anti-VEGF agents' segment held a significant market share in 2020 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. 

    Regional Trends

    By region, the North American market accounted for a significant share in 2020 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, presence of excellent healthcare infrastructure, the large presence of a majority of major players, and rise in government intervention for prevention of visual impairment, thereby proliferating the regional market growth.

    COVID-19 Impact on Ophthalmic Pharmaceutical Drugs Market

    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 the eye surgeries were postponed to curb the spread of the virus, thus affecting the market growth amid the pandemic.

    Critical Questions Answered in the Report

    • What are the key trends in the ophthalmic pharmaceutical drugs market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on ophthalmic pharmaceutical drugs?
    • What are the key strategies adopted by the major vendors to lead in the ophthalmic pharmaceutical drugs market?
    • What is the market share of the top vendors?

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    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-

    • Ophthalmic pharmaceutical drugs vendors
    • Ophthalmic pharmaceutical drugs retailers
    • Ophthalmology clinics
    • Hospitals

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    Frequently Asked Questions (FAQs)

    The ophthalmic pharmaceutical drugs market is expected to witness an impressive growth of 6.6% 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), and Teva Pharmaceutical Industries Ltd. (Actavis Generics) (Israel) are among the key players in the ophthalmic pharmaceutical drugs market.

    The ophthalmic pharmaceutical drugs market size is expected to USD 53.2 billion in the foreseeable future.

    The anti-VEGF agents' segment is expected to register healthy CAGR in the ophthalmic pharmaceutical drugs market in the coming years.

    North America is expected to witness substantial CAGR in the ophthalmic pharmaceutical drugs market in the next five years.

    Ophthalmic pharmaceutical drugs vendors, Ophthalmic pharmaceutical drugs retailers, Ophthalmology clinics, Hospitals are among the target audience in the ophthalmic pharmaceutical drugs market.

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