Ophthalmic Drugs Market Worth $45.8 Billion By 2027 | CAGR: 5.0%: Grand View Research, Inc.

Ophthalmic Drugs Market Worth $45.8 Billion By 2027 | CAGR: 5.0%: Grand View Research, Inc.

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The global ophthalmic drugs market size was valued at USD 31.0 billion in 2019 and is expected to expand at a CAGR of 5.0% from 2019 to 2027. Rising prevalence of eye diseases and disorders along with presence of robust pipeline of molecules are some of the key factors driving the growth.

The global ophthalmic drugs market size is expected to reach USD 45.8 billion by 2027, registering a CAGR of 5.0%, according to a new report published by Grand View Research, Inc. Advancements in drug delivery systems are anticipated to drive the overall growth.

In December 2017, Spark Therapeutics received Food and Drug Administration (FDA) approval for the first gene therapy drug in the ophthalmic market-Luxturna (voretigene neparvovec-rzyl). The drug is indicated for ophthalmic diseases associated with RPE65 gene mutation, such as retinitis pigmentosa and Leber’s congenital amaurosis.

Increasing number of strategic mergers, acquisitions, and collaborations make the market for ophthalmic drugs a highly competitive space. However, there is ample scope for consolidation. Premium services and high-volume ancillary value-added businesses deliver supplementary benefits to customers and attract investments in the market. The reimbursement policies for ophthalmic treatment form a diversifying factor in the market.

U.S. ophthalmic drugs market size, by dosage type, 2015 - 2027 (USD Billion)

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Companies are constantly launching new products to expand their product portfolio and to attain higher share. For instance, in July 2019, Bausch & Lomb Incorporated announced launch of Ocuvite, an eye vitamin supplement to strengthen the macula for the U.S. market.

Due to increasing awareness of ophthalmic disorders and surge in the demand of these products, ophthalmic drug manufacturers are expanding their presence in the emerging economies by supporting various awareness campaigns in different regions. For instance, in 2016, Alcon announced their support to a public awareness program, Think About Your Eyes. The company committed USD 4 million to support this initiative and to promote awareness pertaining to vision care.

Key suggestions from the report:

  • Anti-VEGF agents dominated the drug class segment in 2019 and is anticipated to register the fastest CAGR of 6.7% over the forecast period
  • Retinal disorder held the largest market share in 2019 due to rising prevalence of diabetic retinopathy
  • In 2019, macular degeneration was the largest retinal disorder segment and diabetic retinopathy was the fastest growing segment
  • Eye drops held the leading ophthalmic drugs market share in 2019 and is projected to witness the highest CAGR during the forecast period as it is the most preferred form of drug delivery used for treating ocular diseases such as acute allergies, corneal ulcers, and glaucoma
  • In 2019, topical route was the largest segment as it is non-invasive route of administration with high patient compliance
  • The local ocular route is estimated to be the fastest growing segment over the forecast period
  • Prescription drugs held the largest share in 2019 since it is considered to be more effective treatment
  • North America led the market for ophthalmic drugs in 2019 due to high disease burden
  • Asia Pacific is estimated to be the fastest growing market during the forecast period owing to rising disposable income along with growing awareness regarding various ophthalmic diseases
  • Some of the key companies operating in the market are Novartis AG; Allergan PLC; Bausch & Lomb, Inc.; Pfizer, Inc.; Santen Pharmaceutical Co., Ltd.; Regeneron, Bayer AG; and Genentech, Inc.

Global ophthalmic drugs market share, by route of administration, 2019 (%)

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Grand View Research has segmented the global ophthalmic drugs market on the basis of drug class, disease, dosage form, route of administration, product type, and region:

Ophthalmic Drugs Class Outlook (Revenue, USD Million, 2015 – 2027)

  • Antiallergy
  • Anti-Vascular Endothelial Growth Factor (Anti-VEGF) Agents
  • Anti-inflammatory
    • Nonsteroidal Drugs
    • Steroidal Drugs
  • Antiglaucoma
  • Others

Ophthalmic Drugs Disease Outlook (Revenue, USD Million, 2015 – 2027)

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

Ophthalmic Drugs Disease Outlook, by Dosage Forms (Revenue, USD Million, 2015 – 2027)

  • Dry Eye
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Allergies
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Glaucoma
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Inflammation/Infection
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Retinal Disorders
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Uveitis
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Others

Ophthalmic Drugs Dosage Form Outlook (Revenue, USD Million, 2015 – 2027)

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

Ophthalmic Drugs Route of Administration Outlook (Revenue, USD Million, 2015 – 2027)

  • Topical
  • Local Ocular
    • Subconjunctival
    • Intravitreal
    • Retrobulbar
    • Intracameral
  • Systemic

Ophthalmic Drugs Product Type Outlook (Revenue, USD Million, 2015 – 2027)

  • Prescription Drugs
  • OTC Drugs

Ophthalmic Drugs Regional Outlook (Revenue, USD Million, 2015 – 2027)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Spain
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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