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Insights on the Ophthalmic Drugs Global Market to 2029 - Increase in Healthcare Expenditure is Driving Growth

Dublin, Oct. 21, 2021 (GLOBE NEWSWIRE) -- The "Ophthalmic Drugs Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.

Geriatric population is growing with the rising global population, and rising patient base suffering from ocular and eye related disorders has been a major growth driver that have urged the advent of ophthalmic drugs market. In the next few years the demand for ophthalmic drugs is expected to increase significantly in the emerging economies such as China and India.

The prescription type studied for analyzing the overall ophthalmic drugs market are prescription drugs and over-the-counter drugs (OTC). On the basis of therapeutic areas, the global ophthalmic drugs market is segmented into glaucoma ophthalmic drugs, retinal disorders ophthalmic drugs, dry eye ophthalmic drugs and allergic conjunctivitis. Market size and forecast for each of these segments for the period 2019-2022 are provided in this study along with respective CAGRs for the forecast period 2021-2029.

Market size and forecast for these regional and country level markets are presented in this study for the period 2019-2029. Market growth rates for the forecast period 2021-2029 are also included in this report, considering 2020 as the base year.

Along with quantitative information, qualitative information sets and assessment tools are provided in this study for better analysis of the overall market scenario and future prospects. Information such as market inclination insights and drivers, challenges and opportunities assists the readers for understanding the ongoing trends in the global ophthalmic drugs market. Tools such as market positioning of key players and attractive investment proposition provide the readers with insights on the competitive scenario of the global ophthalmic drugs market. This report concludes with company profiles section that highlights major information about the key players engaged in ophthalmic drugs market.

The ophthalmic drug industry can be classified into prescription ophthalmic drugs and over the counter (OTC) drugs. OTC drugs are widely adopted due to the large number of glaucoma patients and increasing number of geriatric patients globally, creating a significant demand in the OTC drugs market. However, various side effects associated with the uptake of OTC medications would hinder the market growth for the OTC market segment. Prescription ophthalmic drugs segment is anticipated to grow at highest CAGR during the forecast period. The prime factor that would determine the growth of prescription drugs segment include the increasing number of patients suffering from various new retinal disorders and complicated cases of glaucoma and cataract. Moreover, increasing rate of success for newly launched drugs which can only be bought by prescriptions would further assist the market growth. Ophthalmic steroids need prescription to be given to the patient, as these products are specifically designed to be applied in eyes. These products contain corticosteroids and are available as eye drops, gels, ointments and other forms of ocular applications. Some of FDA approved prescription ophthalmic drugs include Acular, Omidria, Betaxon, Zaditor, and Zymaxid.

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According to World Health Organization (WHO), currently more than 300 million people are affected by visual impairments and blindness, and this figure is expected to grow by 10% in the coming years (till 2020). About 90% of the worlds visually impaired reside in low-income group. And 82% of people living with blindness are aged 50 and above. Worldwide, uncorrected refractive errors are the main cause of moderate and severe visual impairment and cataracts, which is the leading cause of blindness in middle- and low-income countries. On the basis of therapeutic, the global ophthalmic drugs are segmented into glaucoma ophthalmic drugs, retinal disorder ophthalmic drugs, dry eye ophthalmic drugs and allergic conjunctivitis. Glaucoma ophthalmic drugs held the largest share in global ophthalmic drugs market. It is estimated that over three million Americans are suffering from glaucoma, being the leading cause of blindness in people of 60 years of age. Early detection and treatment with the help of glaucoma eye drops and glaucoma surgery or both can help retain vision. Treatment can involve glaucoma surgery, lasers or medication, depending on the severity. The retinal disorder ophthalmic drug is anticipated to grow at highest CAGR due higher prevalence rate among people in the world. Thus the treatment for retinal disorders has the highest growth.

The geographical segmentation of the global ophthalmic drugs market comprises North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. In the base year 2020, North America accounted for the largest market in the ophthalmic drugs market due to the rising number of patient population suffering from ocular diseases in the region. The prevalence of blindness and vision impairment and other eye related disorders is expected to increase rapidly among all age group, gender and racial group in North America. It has been estimated that age related macular degeneration is expected to double by 2050, from 2.1 million to 3.7 million. However, factors such as high market saturation, drying pipelines and increasing competition are some of the factors hampering the market potential of North American ophthalmic drug market. Europe is the second largest market for ophthalmic drugs. Better regulatory policies have led to increased trust in the drugs market which is the key factor driving the growth in the Europe market. Asia Pacific ophthalmic drug market holds high growth potential in near future due to factors such as rising geriatric population, rising investments in healthcare infrastructure and increasing prevalence of ocular diseases, which includes disorders of both the cornea and the retina.

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Market Segmentation

Chapter 4 Global Ophthalmic Drugs Market Dynamics
4.1 Market Driver Analysis
4.1.1 Global Rise in Geriatric Population Pushing Ophthalmology Drugs
4.1.2 Technology Advancement
4.1.3 Innovation Giving Rise To Ophthalmology Drugs Market
4.1.4 Global Increase In Prevelance of Eye Diseases
4.1.5 Global Increase in Healthcare Expenditure
4.2 Market Driver Analysis
4.2.1 Major Drugs Going Off Patent Is Affecting the Growth of Ophthalmology Market
4.2.2 Drying Pipelines Is A Concern For Major Players
4.3 Key Opportunities Prioritized
4.2.1 Increasing Awareness
4.2.2 Emerging Markets

Chapter 5 Industry Analysis
6.1 Global Ophthalmic Drugs Market Industry - PESTEL Analysis

Chapter 6 Global Ophthalmic Drugs Market, By Prescription Type, 2019-2029 (USD Mn)
6.1 Global Prescription Market For Ophthalmic Drugs, 2019-2029 (USD Mn)
6.2 Global OTC (Over The Counter ) Drugs Ophthalmic Drugs Market 2019-2029 (USD Mn)

Chapter 7 Global Ophthalmic Drugs Market, By Therapeutic Type, 2019-2029 (USD Mn)
7.1 Global Glaucoma Ophthalmic Drugs, 2019-2029 (USD Mn)
7.2 Global Retinal Disorder Ophthalmic Drugs Market 2019-2029 (USD Mn)
7.3 Global Dry Eye Ophthalmic Drugs Market, 2019-2029 (USD Mn)
7.4 Global Allergic Conjunctivitis Ophthalmic Drugs Market 2019-2029 (USD Mn)

Chapter 8 Global Ophthalmology Drugs Market, By Geography
8.1 Overview
8.2 North America
8.2.1. U.S.
8.2.2. Canada
8.2.2. Mexico
8.3 Europe
8.2.1. U.K.
8.2.2. Germany
8.2.3. Russia
8.4 Asia Pacific
8.2.1. China
8.2.2. India
8.2.3. South Korea
8.4 Middle East and Africa
8.5 Central & South America

Chapter 9 Company Profiles
9.1 Abbott Healthcare
9.1.1 Business Description
9.1.2 Financial Health and Budget Allocation
9.1.3 Product Portfolio
9.1.4 News Coverage
9.2 Allergan Plc
9.2.1 Business Description
9.2.2 Financial Health and Budget Allocation
9.2.3 Product Portfolio
9.2.4 News Coverage
9.3 Johnson & Johnson
9.3.1 Business Description
9.3.2 Financial Health and Budget Allocation
9.3.3 Product Portfolio
9.3.4 News Coverage
9.4 Bayer
9.4.1 Business Description
9.4.2 Financial Health and Budget Allocation
9.4.3 Product Portfolio
9.4.4 News Coverage
9.5 Valeant Pharmaceuticals, Inc.
9.5.1 Business Description
9.5.2 Financial Health and Budget Allocation
9.5.3 Product Portfolio
9.5.4 News Coverage
9.6 Akorn
9.6.1 Business Description
9.6.2 Financial Health and Budget Allocation
9.6.3 Product portfolio
9.6.4 News Coverage
9.7 Renegeron
9.7.1 Business Description
9.7.2 Financial Health and Budget Allocation
9.7.3 Product Portfolio
9.7.4 News Coverage
9.8 Eyemed
9.8.1 Business Description
9.8.2 Financial Health and Budget Allocation
9.8.3 Product Portfolio
9.8.4 News Coverage
9.9 Senju Pharmaceutical Co., Ltd
9.9.1 Business Description
9.9.2 Financial Health and Budget Allocation
9.9.3 Product Portfolio
9.9.4 News Coverage
9.10 Pfizer, Inc.
9.10.1 Business Description
9.10.2 Financial Health and Budget Allocation
9.10.3 Product Portfolio
9.10.4 News Coverage
9.11 Merck & Co.
9.11.1 Business Description
9.11.2 Financial Health and Budget Allocation
9.11.3 Product Portfolio
9.11.4 News Coverage
9.12 Novartis AG
9.12.1 Business Description
9.12.2 Financial Health and Budget Allocation
9.12.3 Product Portfolio
9.12.4 News Coverage
9.13 Glaxo Smith Kline
9.13.1 Business Description
9.13.2 Financial Health and Budget Allocation
9.13.3 Product Portfolio
9.13.4 News Coverage
9.14 Eyegate Pharmaceuticals
9.14.1 Business Description
9.14.2 Financial Health and Budget Allocation
9.14.3 Product Portfolio
9.14.4 News Coverage
9.15 LPath
9.15.1 Business Description
9.15.2 Financial Health and Budget Allocation
9.15.3 Product Portfolio
9.15.4 News Coverage
9.16 Senten Pharmaceutical Co. Ltd
9.15.1 Business Description
9.15.2 Financial Health and Budget Allocation
9.15.3 Product Portfolio
9.15.4 News Coverage
9.17 Cipla Pharmaceuticals
9.15.1 Business Description
9.15.2 Financial Health and Budget Allocation
9.15.3 Product Portfolio
9.15.4 News Coverage
9.18 Sun Pharmaceutical Industries, Ltd.
9.15.1 Business Description
9.15.2 Financial Health and Budget Allocation
9.15.3 Product Portfolio
9.15.4 News Coverage
9.19 Other Notable Players

For more information about this report visit https://www.researchandmarkets.com/r/kgcz75

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