Global Ophthalmic Drugs Market Size By Type (Prescription Drugs, OTC Drugs), By Disease (Dry Eye, Glaucoma), By Dosage (Gels, Eye Solutions & Suspensions), By Distribution Channel (Hospital Pharmacies, Drug Stores), By Geographic Scope And Forecast
Report ID: 289579|No. of Pages: 202
Global Ophthalmic Drugs Market Size By Type (Prescription Drugs, OTC Drugs), By Disease (Dry Eye, Glaucoma), By Dosage (Gels, Eye Solutions & Suspensions), By Distribution Channel (Hospital Pharmacies, Drug Stores), By Geographic Scope And Forecast
Ophthalmic Drugs Market Size And Forecast
Ophthalmic Drugs Market size was valued at USD 34.09 Billion in 2022 and is projected to reach USD 70.22 Billion by 2030, growing at a CAGR of 8.2% from 2023 to 2030.
Rapidly flourishing pharmaceutical industry along with the increasing prevalence of chronic illness and aging population is anticipated to drive market growth over the forecast period. The Global Ophthalmic Drugs Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Ophthalmic Drugs Market Definition
Ophthalmic drugs are generally used to treat eye-related diseases such as conjunctivitis, ocular blepharitis, keratitis, and others. Ophthalmic drugs are available in various drug classes including macrolides, aminoglycosides, quinolones, sulfonamides, and polypeptides. These drugs can also be used in combination with other antibiotics or corticosteroids. The rising prevalence of eye diseases has generated and augmented the need for ophthalmic drugs.
Nearly 2.2 billion people are affected globally by ophthalmic conditions such as AMD (170 million), cataracts (94 million), glaucoma (7.7 million), and diabetic retinopathy (DR) (3.9 million). Drugs used to treat these conditions are therefore required to effectively reach the target area of the eye, resulting in different delivery requirements.
Drug delivery to the eye is categorized as anterior and posterior segments. Conventional delivery systems including suspensions, ointments, and drops are not optimal in the treatment of ophthalmic diseases. However, nearly 90% of the ophthalmic formulations marketed currently are in the form of eye drops which mainly target diseases in the anterior segment of the eye. The posterior segment (retina, vitreous, choroid) can be effectively treated by intravenously or by intravitreal administration, using a high drug dosage regimen. Currently, the posterior segment drug delivery is showing promising growth in ophthalmic drug delivery.
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Global Ophthalmic Drugs Market Overview
As compared to anterior and posterior eye drug delivery methods anterior delivery are utilized on a larger scale. The most widely available ophthalmic treatments for Anterior section drug delivery are eye drops and topical ointments which are easy to administer. However, despite their largescale popularity, they face several challenges including the ability to penetrate the cornea as well as long-lasting effects to achieve efficacy. According to several research reports by institutions, the efficacy of eye drops has been reported to be 5–10%, which is on the lower side. One of the major reasons is low conjunctival sac capacity as compared to treatment volume, thus resulting in the breakout, of a large proportion of the from the eye area. Innate solution drainage and blinking also contribute to the draining of the drug from the target area before absorption.
Posterior eye drugs requiring delivery when compared to that anterior ones are even more challenging. They are required to exactly reach the retina for which injections or implants are often used. Implantable drug delivery owing to sustained release potential is currently a subject of greater interest among organizations. Furthermore, these implantable drugs can either be bio durable or bioresorbable (absorbed by the body over time). Implantable manufacturing processes include injection molding, hot-melt extrusion, and solvent-based methods. However, not all implantable are well-suited for these methods, and determining a suitable method requires a systematic understanding of these manufacturing procedures.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the global Ophthalmic Drugs Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in global Ophthalmic Drugs Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
Global Ophthalmic Drugs Market Segmentation Analysis
The Global Ophthalmic Drugs Market is Segmented on the basis of Type, Disease, Dosage, Distribution Channel, And, Geography.
Ophthalmic Drugs Market, By Type
- Prescription Drugs
- OTC Drugs
On the basis of Type, The Global Ophthalmic Drugs Market is segmented into prescription drugs and OTC Drugs. Prescription drugs accounted for largest market share in 2022 and is expected to follow the trend over the period. Rising prevalence of diseases such as eye infections, diabetes and cataract among others is anticipated to drive the market demand over the forecast period. Prescription products exhibit higher effectiveness for treating ophthalmic disorders and are generally preferred over OTC products.
Ophthalmic Drugs Market, By Disease
- Dry Eye
- Glaucoma
- Infection/Inflammation/Allergy
- Retinal Disorders
- Others
On the basis of Disease, The Global Ophthalmic Drugs Market is segmented into Dry Eye, Glaucoma, Infection/Inflammation/Allergy, Retinal Disorders, and Others. The retinal disorder segment accounted for the largest market share in 2022. The segment growth can be attributed to the rising occurrence of diabetic retinopathy and macular degeneration. Furthermore, glaucoma accounted for the second-largest market in 2022. Glaucoma occurs due to the buildup of fluid in the front eye, thus damaging the optic nerve.
Ophthalmic Drugs Market, By Dosage
- Gels
- Eye Solutions & Suspensions
- Capsules and Tablets
- Others
On the basis of Dosage, the Global Ophthalmic Drugs Market is segmented into gels, eye solutions & suspensions, capsules & tablets, and others. Eye solutions & suspensions accounted for the largest market share in 2022. The segment growth can be attributed to ease of application of products along with the rising demand for OTC drugs. Ophthalmic gels are most commonly used for treating dry and irritated eyes which occur due to excessive exposure to the sun, wind, heating/air conditioning, screen time, as well as some medications
Ophthalmic Drugs Market, By Distribution Channel
- Hospital Pharmacies
- Drug Stores
- Online Pharmacies
- Others
On the basis of Distribution Channel, the Global Ophthalmic Drugs Market is segmented into hospital pharmacies, drug stores, online pharmacies, and others. Hospital pharmacies accounted for the largest market share in 2022. The online pharmacies segment is expected to witness the highest CAGR owing to growing consumer inclination towards digital mediums, as well as the ease of product purchase offered by the medium.
Ophthalmic Drugs Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Regional Analysis, the Global Ophthalmic Drugs Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America accounted for the major revenue share of highly developed and technologically advanced pharmaceutical and medical sections in the region. The U.S. is the largest market for pharmaceutical products in the region as well as on a global scale. Also, the country invests heavily in research and development of new and novel products for disease-specific applications. Asia Pacific is anticipated to witness high CAGR owing to the presence of the old age population along with the prevalence of chronic diseases such as diabetes and cataract
Key Players
The “Global Ophthalmic Drugs Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Aerie Pharmaceuticals Inc, AbbVie, Bayer AG, Bausch Health Companies Inc, and Novartis AG, F. Hoffmann-La Roche Ltd, Viatris Inc, Regeneron Pharmaceuticals Inc, Santen Pharmaceutical Co. Ltd, Alcon, among others.
These players exhibit high production capacities, strong market foothold and distribution network and are investing heavily in research and development activities in order to upscale their technologies and enhance product features which are application specific.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Aerie Pharmaceuticals Inc, AbbVie, Bayer AG, Bausch Health Companies Inc, and Novartis AG, F. Hoffmann-La Roche Ltd, Viatris Inc, Regeneron Pharmaceuticals Inc, Santen Pharmaceutical Co. Ltd, and Alcon. |
| SEGMENTS COVERED | By Type, By Disease, By Dosage, By Distribution Channel, And, Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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Data Collection Matrix
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Econometrics and data visualization model
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Industry Analysis Matrix
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