Ophthalmic drugs are the drugs designed for the treatment of eye diseases and disorders. This administration of drug can be done by instillation of a cream, an ointment, or a liquid drop preparation in the conjunctiva sac. The correct strength and amount of the drug are selected, and the medication is instilled into the eye or eyes as directed. The main reason of continuingly strong interest of scientists in these drugs forms is the problem of a low bioavailability of medicinal substance after the application to the eyeball. The ability to increase the bioavailability of the active substances, reducing the susceptibility of drug forms to defense mechanisms of the human eye, extending contact time of drug with the cornea, increasing the penetration through the complex anatomical structure of the eye, and providing controlled release of drugs into the eye tissues which allows reducing the drug application frequency, witnesses the importance of ophthalmic drugs among the aging population suffering from eye disorders are some of the factors contributing to the growth in the global ophthalmic drugs market.
The global ophthalmic drugs market is projected to grow with a CAGR between 5.2% and 5.5% over the forecast period of 2016 – 2022 and surpass USD 21 billion by 2022. The key factors driving the growth of ophthalmic drugs market are considered to be increasing geriatric population with rising global population, increase in prevalence of eye disorders, technological advancement, and increasing awareness in healthcare spending. Moreover, challenges faced by ophthalmic drugs market include absence of health insurance in developing countries regarding eye diseases and lack of awareness among the people regarding eye diseases and disorders in underdeveloped and developing countries. One of the key opportunities for new entrants is securing drugs through a licensing agreement with major players such as Novartis and Bayer, which could boost their growth over the forecast period.
The report segments the ophthalmic drugs market by, disease condition and by dispense type. The market segmentation based on disease condition includes glaucoma, retinal disorder, allergy and dry eye disorder. Among these diagnosed conditions, the anti-glaucoma treatment drugs segment is the leading the ophthalmic disease conditions market with a CAGR of x.x % projected during the forecast year. Moreover, based on dispense type the global ophthalmic drugs market is segmented into prescription drugs and over the counter drugs (OTC).
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia Pacific, Latin America and Rest of the World (RoW). North America is the largest revenue generating region in global ophthalmic drugs market and likely to continue its dominance due to growing initiatives to prevent eye disorders and technological advancement. Following North America, Asia pacific is anticipated to be the fastest growing region in global ophthalmic drugs market over the forecast period. Developing healthcare infrastructure, increasing awareness of eye disorders among the peoples make Asia pacific the most opportunistic market.
The companies covered in the report include
- Abbott Healthcare
- Allergan Plc
- Johnson & Johnson
- Valeant Pharmaceuticals, Inc
- Pfizer Inc
- Merck & Co
- Novartis AG
- Santen Pharmaceuticals Company Ltd
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