GLOBAL OPHTHALMIC DRUGS MARKET FORECAST 2017-2025

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Nov 13, 2017, 12:14 ET

LONDON, Nov. 13, 2017 /PRNewswire/ -- KEYFINDINGS
The global ophthalmic drugs market is estimated to grow at an approximate CAGR of 4.15% during the period of 2017 and 2024. An existing predominance and increase in the number of eye disorders with growing geriatric population all over the world are the primary drivers responsible for the market growth. With increasing awareness of ophthalmic drugs among the consumers and patients is anticipated to proliferate the market growth.

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MARKET INSIGHTS
The ophthalmic drugs market is segmented on the basis of End-user, Prescription type, and Geography. The Prescription type ophthalmic drugs market is segregated into Prescription Market for Ophthalmic Drugs and OTC (Over the Counter Drugs) Market for Ophthalmic Drugs. The End-user ophthalmic drugs market is segregated into Hospitals, Eye Clinics, Diagnostic Centers, and Patients. The ophthalmic drugs market on the basis of Geography is segregated into Asia-Pacific, Europe, North America, Middle East & Africa and Central & South America.

The technological advancements, rise in eye disorders, growth in geriatric population, cataract surgeries and upsurge in healthcare expenditure are dominant drivers for the growth of ophthalmic drugs market. A vast scope for ophthalmic drugs market is created with the predominance of eye-related disorders and ailments. One major cause for half-blindness and decreased vision is Cataract with the highest percentage accountable of worldwide visual impairment. Cataract surgery is risk-free and secure kind of surgery; the safety has led to an increase in the cataract surgeries. The boost in Health expenditure has boosted the consumer spending indirectly driving the ophthalmic drugs market.

REGIONAL INSIGHTS
North America accounts for the largest market share in the global ophthalmic drugs market. Europe accounts for a second largest market share in the global ophthalmic drugs market. Asia-Pacific is estimated to expand at the highest CAGR during the forecast period. Asia-Pacific is also anticipated to emerge as a leading destination for drug development during the forecast years. The rise in aged population and existence of dominant market players in the regions are driving the regional markets. The Middle East & Africa and Central & South America ophthalmic drugs market are projected to expand during the forecast years with the rise in aged population and predominance of eye ailments amongst the population.

COMPETITIVE INSIGHTS
The predominant ophthalmic drugs companies in the global market are Bayer, Akorn, Johnson and Johnson, Abbott Laboratories, Valeant, Allergan Inc., Regeneron, Merck & Co., Pfizer Inc., Lpath Incorporated, Novartis Ag, Roche Holding Ag, Eyegate Pharmaceuticals, GlaxoSmithKline, Santen Pharmaceutical Co. Ltd, Sun Pharmaceuticals Industries, Ltd., Senju Pharmaceutical Co., Ltd, Cipla Pharmaceuticals and EyeMed.

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