ALBANY, New York, July 9, 2020 /PRNewswire/ -- From 2019 to 2027, the global ophthalmic drugs market will grow at a compound annual growth rate (CAGR) of 4.1%., pulling up the market worth from about USD 26 billion in 2018 to USD 37.2 billion by the end of the forecast period.
As per Transparency Market Research, "Multiple factors of growth are underscoring growth in the global ophthalmic drugs market. Foremost among these factors are increase in incidence of eye related diseases, and increasing adoption of new and advanced therapeutics in the field."
Key Findings of Global Ophthalmic Drugs Market Study:
- On the basis of disease indication, the dry eye segment would lay claim to a sizeable share of the market owing to increasing pollution level, and high screen time
- On the basis of therapeutic class, anti-glaucoma drugs will dominate the market landscape over the forecast period
- Region-wise, North America is set to dominate the market owing to increasing patient pool
For a detailed analysis of Global Ophthalmic Drugs Market by disease indication, therapeutic class, product type, distribution channel, and region, visit TOC https://www.transparencymarketresearch.com/report-toc/1769
Key Drivers of Growth in Global Ophthalmic Drugs Market:
Transparency Market Research has identified a slew of notable trends and drivers, propelling the global ophthalmic drugs market on to a high growth trajectory. Major growth factors are delineated below:
- Unmet need in the space of treatment options for ophthalmologic diseases space has been noted
- Increase in incidence of uveitis, optic nerve degeneration, retinitis pigmentosa, and retinoblastoma is paving way for growth
- Recent approvals for advanced retinal treatment options will drive growth in the market over the forecast period
- Increase in ageing population is underscoring growth as the demographic is susceptible to conditions such as ARMD, and glaucoma
- In 2017, there were about 970 million people aged 60 and above and this is set to increase to a number of 2 billion by 2050
- Globally, 1:6 will be the ratio of number of people aged 65 and above to total number of people
- Increase in incidence of diabetes is leading to growth in the global ophthalmic drugs market by creating risk for retinopathy
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Regional Analysis of Global Ophthalmic Drugs Market:
- Highly structured healthcare infrastructure in North America is set to help the region dominate the global ophthalmic drugs market over the forecast period
- Asia Pacific (APAC) region will emerge as a lucrative market owing to a high CAGR anticipated for the region for the forecast period
Analyze Global Ophthalmic Drugs Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1769
Competitive Landscape of Global Ophthalmic Drugs Market:
Decent number of players operates in the global ophthalmic drugs market, making it fragmented. Prominent names in the market include Aerie Pharmaceuticals, Inc., ALLERGAN, Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc. (F. Hoffmann-La Roche Ltd.), Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals, Inc., and Santen Pharmaceutical Co., Ltd., among others.
Primary focus for most players is development of better and more effective products. That also translates to efforts directed towards technological advancement and research and development (R&D) activities. Strategies to enter a new market, or penetrate deeper into an existing one often entail key alliances or collaborations based on mutual synergies.
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The global Ophthalmic Drugs Market has been segmented as follows:
- Global Ophthalmic Drugs Market, by Product Type
- Prescription Drugs
- OTC Drugs
- Global Ophthalmic Drugs Market, by Therapeutic Class
- 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 Agents
- Global Ophthalmic Drugs Market, by Disease Indication
- Dry Eye
- Retinal Disorders
- Wet AMD
- Dry AMD
- Diabetic Retinopathy
- Global Ophthalmic Drugs Market, by Distribution Channels
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
- Global Ophthalmic Drugs Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:
Dry Eye Disease Market: Transparency Market Research estimates that the dry eye disease market will expand at a CAGR of 4.5% over the forecast period between 2017 and 2025. Escalating at this pace, the market, which had a valuation of US$ 5,045.2 Mn in 2016 in terms of revenue, is projected to rise to US$ 7,780.0 Mn by 2025.
Glaucoma Treatment Market: A new exhaustive report collated by Transparency Market Research envisages an average growth for the global glaucoma treatment market in the period between 2017 and 2026.More than US$ 3,300 revenues are expected to be gained from treatment of glaucoma across the globe by 2026-end.
Macular Degeneration Treatment Market: The global macular degeneration treatment market was valued at US$ 6.1 Bn in 2017. It is anticipated to reach US$ 11.1 Bn by 2026, expanding at a CAGR of 6.4% from 2018 to 2026. Increase in R&D investments by key players has resulted in innovative products.
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SOURCE Transparency Market Research