ARC Desk

Ophthalmic Drugs Market to Reach Around US$ 40 billion by 2026

Lehdistötiedote   •   Touko 07, 2019 12:28 EEST

According to Acumen Research and Consulting, the global Ophthalmic Drugs Market size is estimated to grow at CAGR above 4.2 % over the forecast time frame 2019-2026 and reach the market value around USD 40 billion by 2026.

The growth of the ophthalmic drugs market is driven by increased funding from public and private bodies to research on ocular disorders, with the presence of strongly emerging pipeline drugs. Shire and Parion Sciences, for example, collaborated to develop and marketP-321, which is used in adult dry-eye diseases. Furthermore, approval for new products is expected to promote the market for the treatment of eye disorders.

For example, Nicox was approved for the treatment of oocular itching related to allergic conjunctivitis by FDA for ZERVIATE (cetirizine ophthalmic solution) in 2017. Key companies, including Bausch & Lomb Inc. and Pfizer, Inc., Novartis AG, are involved in fusions & acquisitions in order to increase their market share. This is the very first ocular version of antihistamine. Abbott Medical Optics, Inc. was acquired in 2017 by Johnson & Johnson Services, Inc. With this acquisition, the entire Abbott Medical Optics, Inc. product range will be sold under the name Johnson&Johnson including consumer visual health, laser refractive surgery and cataract surgery.

Growth Factors

Other key factors that increase the market size of ophthalmic drugs include a world-wide high prevalence of glaucoma and an increase in the transition to combination therapies to treat glaucoma. The population dynamics around the globe also contribute to the growth of the market. However, this growth is impeded by the risk of side effects related to ophthalmic medicines and the longer schedules for new ophthalmic medicine. In addition, increased investment by emerging-economy market players offers lucrative market growth opportunities in the near future.

Get the Sample Copy of Report@ https://www.acumenresearchandconsulting.com/request-sample/1323

Market Snapshots

In 2018, the anti-VEGF agent is leading the market and, due to the widespread use of it for eye conditions such as age related macular degeneration and diabetic retinopathy, is provisionally the fastest CAGR of more than 7.5% between 2019 and 2026.

Retinal disorder has been estimated as the largest segment and, due to the increasing prevalence of diabetic retinopathy, is considered to be the fastest-growing segment of the disease.

Eye drops led the market in 2018, with the most cost-effective CAGR compared to other forms of dosage being projected.

The largest share of prescription drugs was in 2018, as they are seen as more effective.

Due to the easy accessibility of OTC drugs, OTC type is said to be the fastest growing segment during the predicted time period.

The market was led by North America in 2018 as demand for the treatment of dry eyes and glaucoma was growing.

Different organizations ' awareness programs and the increase in disposable incomes are projected to be the most rapidly growing regional market during the forecast period.

Key Players & Strategies

The Ophthalmic Drugs market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are ALLERGAN PLC ; Pfizer, Inc. ; Santen Pharmaceutical Co., Ltd. ; Johnson & Jean - Services, Inc. ; Merck Sharp & Dohme Corp. ; and Genentech, Inc. AG ; Bausch & Lomb, Inc. ; Regeneron Pharmaceutical, Inc., among others.

Santen Pharmaceuticals has been approved for the treatment of Severe Vernal Keratoconjunctivitis in pediatric patients by the Committee of Human Medicinal Products (CHMP) in 2017 for the marketing of its product, cyclosporine, in Europe. In the same year Genentech, Inc. was approved for the treatment of diabetic retinopathy by the FDA for its product, Lucentis, to improve its product portfolio.

In addition to improving their profitability and gaining a competitive edge on other players, the key players on the Ophthalmic Drugs market employ new ideas and concepts, improve production processes and improve the existing set of products. The key players therefore have taken product development as their key development strategy to be consistent with end users ' demands.

Market Segmentation

By Drug Class Outlook

  • Antiallergy
  • Anti-Vascular Endothelial Growth Factor (Anti-VEGF) Agents
  • Anti-inflammatory
    • Nonsteroidal Drugs
    • Steroidal Drugs
  • Antiglaucoma
  • Others

By Disease Outlook

  • Dry Eye
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Allergies
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Glaucoma
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Inflammation/Infection
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Retinal Disorders
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Uveitis
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye drops
    • Ointments
  • Others

By Dosage Form

  • Gels
  • Eye Solutions
  • Capsules & Tablets
  • Eye Drops
  • Ointments

By Product Type

  • Prescription Drugs
  • OTC Drugs

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Chile
    • Rest of Latin America
  • Middle East and Africa (MEA)
    • South Africa
    • Saudi Arabia
    • Rest of MEA

Request to Buy this Premium Report, Click Here@ https://www.acumenresearchandconsulting.com/buy-now/0/1323