The Global Ophthalmic Drugs Market to Surpass USD 47 Billion Mark by 2027 | DelveInsight

The ophthalmic drugs market is experiencing optimistic market growth as a result of an increase in the global burden of the geriatric population, increasing cases of various eye disorders and problems such as cataracts, glaucoma, eye allergies, infections, and others, increasing clinical trials and product development activities in the ophthalmic drugs arena across the globe, which is expected to result in appreciable revenue growth of the ophthalmic drugs market during the forecast period (2022–2027).

LAS VEGAS, Feb. 1, 2023 /PRNewswire/ -- DelveInsight's Ophthalmic Drugs Market Insights report provides the current and forecast market analysis, individual leading ophthalmic drugs companies' market shares, challenges, ophthalmic drugs market drivers, barriers, and trends, and key ophthalmic drugs companies in the market.

Key Takeaways from the Ophthalmic Drugs Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global ophthalmic drugs market during the forecast period. 
• Notable ophthalmic drugs companies such as Novartis AG, Pfizer Inc., Abbvie, Inc., F. Hofmann-La Roche Ltd., Thea Pharma Inc., Bausch Health Companies Inc., Alcon, Viatris Inc., Regeneron Pharmaceuticals, Inc., Bayer AG, Santen Inc., Sun Pharmaceutical Industries, Inc., Teva Pharmaceutical Industries Ltd., Amring Pharmaceuticals Inc., Merck & Co. Inc., Coherus Biosciences, Nicox, Akorn Operating Company LLC, Senju Pharmaceutical Co., Ltd, Adenovir Pharma, and several others are currently operating in the ophthalmic drugs market.
• In December 2022, Eyenovia, Inc., a pre-commercial ophthalmic technology company developing the Optejet® delivery system for use in its own drug-device therapeutic programs for mydriasis, presbyopia, and pediatric progressive myopia, as well as out-licensing for additional indications, announced that the FDA has accepted for review the company's New Drug Application (NDA) for MydCombiTM ophthalmic spray.
• In December 2022, Visiox Pharma, LLC., a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic drugs to address highly prevalent diseases in need of new treatment options, announced that the FDA has completed its filing review and accepted for filing the New Drug Application (NDA) for PDP-716 (0.35% brimonidine tartrate) for the treatment of glaucoma.
• In September 2022, Harrow, an eyecare pharmaceutical company exclusively focused on the discovery, development, and commercialization of innovative ophthalmic therapies, and Sintetica, S.A., a growing pharmaceutical company focused on analgesics, local anesthetics, and sterile injectable solutions, announced the FDA approval of IHEEZOTM (chloroprocaine hydrochloride ophthalmic gel) 3% for ocular surface anesthesia.
• In August 2022, Alcon agreed to acquire Aerie Pharmaceuticals for about $770 million, betting its sprawling commercial presence can boost the uptake of the biotechnology company's two glaucoma drugs. The Aerie Pharma acquisition brings Alcon two commercialized glaucoma products and a pipeline of programs in various stages of development for other eye diseases. Alcon has been an active dealmaker, turning to M&A as a way to bolster its eye products portfolio and pipeline. Alcon will pay $15.25 for each share of Aerie, a 37% premium to the stock's closing price.
• In August 2022, Opthea Limited announced a non-dilutive financing transaction for up to US$170 million from investment funds working with Launch Therapeutics (Launch Tx) to finance and advance the ongoing Phase 3 clinical trials and pre-commercialization activities of OPT-302 for wet age-related macular degeneration (wet AMD). 
• In August 2022, Outlook Therapeutics, Inc. announced that it had re-submitted its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for ONS-5010, an investigational ophthalmic therapy which, if approved, will be branded as LYTENAVA™ (bevacizumab-vikg) for the treatment of wet age-related macular degeneration (wet AMD).
• In June 2022, Novartis announced the acquisition of Kedalion Therapeutics and its AcuStream™ technology, an innovative device that may have the potential to facilitate precise dosing and accurate delivery of certain topical ophthalmic medications to the eye.
• In April 2022, Sandoz, a Novartis division, announced the US launch of the generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5%, an AB-rated generic equivalent to AbbVie's COMBIGAN, to lower eye pressure in patients with ocular hypertension.
• In March 2022, Théa Pharma acquired seven branded ophthalmic products from Akorn Operating Company LLC. The agreement strengthens Théa's position as a major provider of products designed to meet the needs of eye care specialists across the United States.

To read more about the latest highlights related to the ophthalmic drugs market, get a snapshot of the key highlights entailed in the Global Ophthalmic Drugs Market Report

Ophthalmic Drugs Overview

An ophthalmic drug is injected into the eye, most commonly as an eye drop formulation. Topical formulations are used to treat a variety of eye diseases. These conditions may include dry eye, glaucoma, bacterial eye damage, and bacterial infections. Glaucoma is the world's second leading cause of blindness, according to WHO. Cefazolin, gentamicin, EDTA, bevacizumab, and other ophthalmology medications are on the market. Other factors expected to drive market growth in the coming years include improved healthcare infrastructure, supportive government initiatives to raise health awareness among people worldwide, and increased investment in the development of advanced drug types.

Ophthalmic Drugs Market Insights

North America dominated the global ophthalmic drugs market in 2021 and will continue to do so through the forecast period of 2022–2027. This dominance is attributed to the rising prevalence of eye disorders such as cataracts, diabetic retinopathy, and other eye-related disorders, as well as the growing geriatric population.

Along with the growing patient population affected by eye disorders, product development activities are expected to boost demand for ophthalmic drugs in the region in the coming years. In April 2022, Novartis' Sandoz expanded its eye drug offerings by acquiring Allergan's popular ocular hypertension medication. Sandoz launched the generic version of AbbVie's Combigan, a combination eye drop used to treat high eye pressure, as the most-dispensed branded combination glaucoma medication in the United States. As a result of the interplay of various factors, such as the presence of a large patient population, as well as product launches by key market players in the region, the North American ophthalmic drugs market is expected to grow during the forecast period.

To know more about why North America is leading the market growth in the ophthalmic drugs market, get a snapshot of the Ophthalmic Drugs Market Outlook 

Ophthalmic Drugs Market Dynamics

The growing global geriatric population is one of the primary drivers of the ophthalmic drugs market. Cataracts, age-related macular degeneration (AMD), glaucoma, diabetic retinopathy, presbyopia, allergies, and infections, among others, are the leading causes of vision loss in the elderly, and each of these conditions can be treated or slowed with appropriate ophthalmic drugs if detected early. Because of such physical changes with age, an increase in the elderly population can be directly linked to an increase in the population suffering from various ophthalmic diseases. As a result, the growing geriatric population, which requires more medications, will drive the market demand for ophthalmic drugs during the forecast period (2022–2027)

However, certain side effects associated with the use of eye drops, gels, and ointments and the government's strict regulatory guidelines, cause delays in product approvals, which may act as a restraint on the growth of the ophthalmic drugs market.

Additionally, during the COVID-19 pandemic, the ophthalmic drugs market was moderately impacted. During the early stages of the pandemic, the sale of ophthalmic drugs was hampered by the imposition of strict lockdown rules, as well as disruptions in the manufacturing and supply of the drugs. Furthermore, during the pandemic, COVID-19 patients were given priority in terms of diagnosis and treatment, resulting in a decrease in the number of diagnoses and treatments for various ophthalmic conditions such as cataracts, dry eyes, glaucoma, macular degeneration, conjunctivitis, and others, which in turn resulted in a decrease in demand for ophthalmic drugs, negatively impacting the growth of the ophthalmic drugs market.

However, with the ease of lockdown restrictions, an increase in resources and a supply chain, the administration of the vaccine to the public, the incorporation of telemedicine and e-commerce, and the increasing number of ophthalmic disease diagnose through telehealth, demand for ophthalmic drugs is up and expected to grow during the forecast period of 2022–2027.

Get a sneak peek at the ophthalmic drugs market dynamics @ Ophthalmic Drugs Market Dynamics Analysis

Ophthalmic Drugs Market Assessment

• Ophthalmic Drugs Market Segmentation
• Market Segmentation By  Product Type: Prescription Drugs and Over-The-Counter Drugs
• Market Segmentation By  Indication: Dry Eyes, Eye Allergy, Glaucoma, Retinal Disorders, and Others
• Market Segmentation By  Drug Class: Anti-Allergic, Anti-Inflammatory, Anti-Vegf Agents, and Others
• Market Segmentation By  Dosage Forms: Gels, Capsules/Tablets, Eye Drops, and Others
• Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the ophthalmic drugs market are set to emerge as the trendsetter explore @ Ophthalmic Drugs Companies 

Table of Contents 

Interested in knowing the ophthalmic drugs market by 2027? Click to get a snapshot of the Ophthalmic Drugs Market Trends

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