The global ophthalmic drugs market is anticipated grow moderately, at a CAGR of 4.2% during the forecast period (2020-2025). Visual impairments have increased across the world, owing to a multitude of factors. Varying in degree, visual impairments are a global health concern, affecting individuals physically and psychologically.
It is estimated that around 25% of the American population will suffer from cataract by 2020 while diabetic retinopathy patients will rise by nearly 20%. As a consequence, the demand for ophthalmic drugs is increasing. Moreover, rising FDA approvals for different drugs, such as Shire’s Xiidra, a lymphocyte function associated antigen-1 (LFA-1) antagonist, are leveraging market prospects.
Key Takeaways of Global Ophthalmic Drugs Market Study:
- By disease indication, the retinal disorders segment is set to dominate the ophthalmic drugs market. A burgeoning pool of retinal disorder patients is projected to leverage the segment’s market share. It is estimated that the number of people afflicted by age-related macular degeneration (AMD) hall reach 288 million by 2040. Projected market share of retinal disorders segment is pegged at 4.7% in the forecast period.However, the glaucoma segment is set to soar in popularity. This is attributed to a rising pool of glaucoma patients and the presence of important glaucoma drug manufacturers such as Pfizer and Novartis. The glaucoma segment is set to grow staggeringly at a CAGR of 3.5%, capturing two-fifth of the market.
- By therapeutic class, the anti-glaucoma drugs segment is prophesied to capture a major chunk of the global ophthalmic drugs market. This is attributed to increasing prevalence, higher inclination towards combination methods and rising initiatives for treatment penetration. Also, industrial focus on development of glaucoma treatment drugs shall leverage the segment’s growth. Anticipated CAGR for anti-glaucoma drugs is 3.3% and a market share of over two-fifths.
- By product type, over-the-counter drugs (OTC) segment is anticipated to be the most attractive of the global ophthalmic drugs market. OTC drugs are suitable for the treatment of seasonal infections such as conjunctivitis and dry eyes. These drugs also offer relatively short duration treatment. The OTC drugs segment shall dominate the global ophthalmological drugs market, accounting for more than half of the total market share.
- By distribution channel, independent pharmacies and drug stores are anticipated to expand rapidly at a CAGR of 4.8%, capturing a market share of more than half the total ophthalmological drugs market. The high growth rate is due to its convenience, security, electronic payment technology and a wide range of available medications and services.
- By region, North America shall capture almost two-fifth of the global ophthalmological drugs market during the forecast period. This is attributed to high cost of prescription drugs and presence of key market players such as Novartis AG and F. Hoffmann- La Roche, Ltd. Asia-Pacific is anticipated to expand modestly at a CAGR of 4.9%, attributed to increase in funding for research and presence of key market players in the wake of a large patient pool.
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Global Ophthalmic Drugs Market Segmentation
Fact.MR has studied the global ophthalmic drugs market with detailed segmentation on the basis of disease indication, therapeutic class, product type, distribution channels and regions.
- Dry Eye
- Retinal Disorders:
- Wet AMD
- Dry AMD
- Diabetic Retinopathy
- Anti-inflammatory Drugs:
- Anti-infective Drugs:
- Anti-fungal Drugs
- Anti-bacterial Drugs
- Anti-glaucoma Drugs:
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Combined Medication
- Anti-allergy Drugs
- Anti-VEGF Drugs
- Prescription Drugs
- OTC Drugs
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Following Questions Answers Covered in the Report are:
- How will the global Opthalmic Drugs Market perform during the forecast period? What will be the market size in terms of value and volume?
- Which segment will drive the global Opthalmic Drugs Market? Which regional market will show extensive growth in the future? What are the reasons?
- How will the market dynamics change because of the impact of future market opportunities, restraints, and drivers?
- What are the key strategies adopted by players to sustain themselves in the global Opthalmic Drugs Market?
- How will these strategies influence the market growth and competition?
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
- Middle East and Africa (GCC Countries, Turkey, Iran, Israel, South Africa , Rest of MEA)
The Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
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