Ophthalmic Drugs Market to Reach US$21.6 bn, Driven by Rising Geriatric Population and Subsequent Rise in Eye Disorders: Transparency Market Research

04 Mar, 2016, 10:30 ET from Transparency Market Research

ALBANY, New York, March 4, 2016 /PRNewswire/ --

A research report, published by Transparency Market Research (TMR), estimates the global ophthalmic drugs market to reach US$21.6 billion by 2018, expanding at a CAGR of 5.2% between 2013 and 2018.The report, titled "Ophthalmic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2018", reveals that the worldwide ophthalmic drugs market stood at US$16 billion in 2012.

The rising prevalence of eye disorders worldwide has impelled the global healthcare industry to fuel research and development endeavors. It has also catapulted the global ophthalmic drugs market at the forefront of the healthcare industry. Transparency Market Research (TMR) has recently published a new study, illustrating the various factors boosting the market for ophthalmic drugs around the world. The report is titled "Ophthalmic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2018" and is available for sale on TMR's official website.

Based on in-depth research, the study pegs the overall value of the global ophthalmic drugs market at US$16 bn in 2012. Exhibiting a modest CAGR of 5.20% during the 2013-2018 period, the market is anticipated to reach an estimated valuation of US$21.6 bn by the end of the forecast period.

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The increasing geriatric population has been fuelling the demand for ophthalmic drugs, since with age the eyesight of human beings starts to diminish. However, inadequate awareness regarding various eye-related disorders, particularly in underdeveloped economies, and inadequate research initiatives for developing novel ophthalmic drugs are key factors hampering the market's growth. The global ophthalmic drugs market is also on the verge of patent expiry of blockbuster drugs, which according to market analysts may make matters worse for the market over the report's forecast period. The study illustrates various such drivers and restraints that are likely to impact the growth trajectory of the global ophthalmic drugs market either positively or adversely.

For the purpose of research, the report segments the global ophthalmic drugs market into two broad categories - over the counter (OTC) drugs and prescription drugs. In terms of treatment, the market is segmented into anti-inflammatory/anti-allergic/anti-infective drugs, eye drugs, anti-glaucoma drugs, and retinal drugs. Of these, the market at present is led by the anti-glaucoma drugs segment, which is likely to exhibit a positive CAGR of 4.20% during the report's forecast period.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/ophthalmic-drugs-market.htm

Among the key regional segments, North America leads the global ophthalmic drugs market and is anticipated to remain undisputed as the leader of the market over the report's forecast period, due to increasing initiatives in the region to curb blindness and other eye disorders, particularly among the aging population. However, the Asia Pacific market is expected to demonstrate the fastest CAGR over the forecast period, states the report. The rise in geriatric population will fuel the demand from the Asia Pacific ophthalmic drugs market. India, Southeast Asia, and China have been identified in the report as the key consumers of ophthalmic drugs in Asia Pacific.

Market Players: 

Among the key market players, Novartis at present leads the global ophthalmic drugs market. It held over 24% of the market in 2012. Other key players in the market profiled in the report include Regeneron, Allergan, Merck & Co., Bayer, Roche, Senju, Valeant, Santen, and Pfizer.

Browse Research Article: http://www.transparencymarketresearch.com/article/ophthalmic-drugs-market.htm

The global ophthalmic drugs market is segmented into: 

By Types 

  • Prescription Drugs
  • OTC Drugs

By Treatment Drugs 

  • Dry Eye Drugs
  • Retinal Drugs
  • Anti-inflammatory/allergy/infective Drugs
  • Anti-glaucoma Drugs

By Regions 

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW)

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SOURCE Transparency Market Research