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Ophthalmic Pharmaceutical Drugs Market Growth Analysis
Ophthalmic Pharmaceutical Drugs Market Size, Share, Growth, Forecast, & Industry Analysis: 2022-28
The Ophthalmic Pharmaceutical Drugs Market is segmented by Type (Prescription Drugs, OTC Drugs), Class (Antiallergy, Anti-VEGF Agents, Anti-inflammatory [Nonsteroidal Drugs, Steroidal Drugs], Antiglaucoma, Others), Disease (Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders [Macular Degeneration, Diabetic Retinopathy, Others], Uveitis, Others), Dosage (Gels, Eye Solutions, Capsules & Tablets, Eye Drops, Ointments), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
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.
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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.
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Ophthalmic Pharmaceutical Drugs Market Report Overview |
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Market Size in 2028 |
USD 58.52 Billion |
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Market Size in 2021 |
USD 38.1 Billion |
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Market Growth (2022-2028) |
6.29% CAGR |
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Base Year of Study |
2021 |
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Trend Period |
2017-2020 |
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Forecast Period |
2022-2028 |
Key players operating in the ophthalmic pharmaceutical drugs market are-
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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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.
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.
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.
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.
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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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
By Class Type
By Disease Type
By Dosage Type
By Region
Here is the list of the group of customers that the ophthalmic pharmaceutical drugs market hopes to have the greatest opportunity to convert-
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?
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Key questions this report answers |
Relevant contents in the report |
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How big is the sales opportunity? |
In-depth analysis of the Ophthalmic Pharmaceutical Drugs Market |
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How lucrative is the future? |
Market forecast and trend data and emerging trends |
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Which regions offer the best sales opportunities? |
Global, regional and country level historical data and forecasts |
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Which are the most attractive market segments? |
Market segment analysis and forecast |
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Which are the top players and their market positioning? |
Competitive landscape analysis, Market share analysis |
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How complex is the business environment? |
Porter’s five forces analysis, PEST analysis, Life cycle analysis |
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What are the factors affecting the market? |
Drivers & challenges |
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Will I get the information on my specific requirement? |
10% free customization |
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.
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
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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.
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.
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