Ophthalmic Drugs Global Market Report 2023

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Major players in the ophthalmic drugs market are Abbvie Inc. (Allergan), Alcon Inc., Bausch & Lomb Incorporated, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co.

New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ophthalmic Drugs Global Market Report 2023" - https://www.reportlinker.com/p06466559/?utm_source=GNW
Ltd, Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc, Nicox S.A., Coherus Biosciences Inc., Johnson & Johnson, Otsuka Pharmaceutical Co. Ltd., Viatris Inc., Mitotech SA, and Akorn Incorporated.

The global opthalmic drugs market is expected to grow from $34.02 billion in 2022 to $36.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.07%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The opthalmic drugs market is expected to reach $49.21 billion in 2027 at a CAGR of 7.56%.

The ophthalmic drugs market consists of ophthalmic sales of anti-angiogenic drugs, anti-vascular endothelial growth factor drugs, anti-uveitis drugs, and prostaglandin analogs.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The value of goods in this market includes related services sold by the creators of the goods.

Ophthalmic drugs refer to a class of pharmaceutical drugs or medicines used for treating diseases that affect the eye or vision. This medication is used to treat eye infections

North America was the largest region in the ophthalmic drugs market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of ophthalmic drugs are prescription drugs and over-the-counter drugs.Prescription ophthalmic drugs refer to types of drugs that can be obtained only by means of a licensed doctor’s or medical practitioner’s prescription.

The various class includes anti-allergy, anti-inflammatory, anti-glaucoma, and other class for diseases like dry eye, eye allergy, glaucoma, eye infection, retinal disorders, uveitis, and other diseases.The various dosage forms include liquid ophthalmic drug forms, solid ophthalmic drug forms, semisolid ophthalmic drug forms, and multicompartment drug delivery systems.

These are distributed through various distribution channels, such as hospital pharmacies, drug stores, and online pharmacies.

The increase in the prevalence of ophthalmic disorders is expected to propel the growth of the ophthalmic drug market going forward.Ophthalmic disorders refer to a disorder or disease that affects the eye and other parts of the eye, causing impairment of vision and other eye ailments.

Ophthalmic drugs are pharmaceutical drugs or medicines used for treating diseases that affect the eye or vision, as a result, the increase in the prevalence of ophthalmic disorders increases the demand for the ophthalmic drug market.For instance, in 2020, according to the International Agency for the Prevention of Blindness (IAPB), a UK-based international alliance that promotes eye health, the number of people with vision loss was 1,106 million, and it was estimated to increase by 55% (1758 million) by 2050.

The increase in the prevalence of ophthalmic disorders is driving the ophthalmic drug market.

Product innovations are a key trend gaining popularity in the ophthalmic drug market.Major companies operating in the ophthalmic drug market are focused on developing new solutions to strengthen their position in the market.

In January 2022, Sun Pharmaceutical Canada Inc., a Canada-based research and development company that specializes in developing innovative medicines in dermatology and ophthalmology, launched the ophthalmic drug CEQUA (cyclosporine ophthalmic solution 0.09% w/v) for the treatment of dry eye disease in Canada. CEQUA is delivered with nano micellar (NCELL) technology. Nanomicellar technology increases ocular tissue penetration by improving the bioavailability and physicochemical stability of cyclosporine.

In November 2022, Alcon Inc., a Switzerland-based eye care company, acquired Aerie Pharmaceuticals, Inc. for an undisclosed amount. Through this acquisition, Alcon adds the commercial drug Rhopressa and the pipeline drug Rocklatan to its portfolio and acquires pharmaceutical research and development capabilities that enable it to transform Aerie’s pipeline ophthalmic drugs into commercial drugs. Aerie Pharmaceuticals, Inc. is a US-based research and development company that is involved in the discovery, development, and commercialization of drugs for ophthalmic diseases like dry eye, glaucoma, and others.

The countries covered in the ophthalmic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The ophthalmic drugs market research report is one of a series of new reports that provides ophthalmic drugs market statistics, including ophthalmic drugs industry global market size, regional shares, competitors with an ophthalmic drugs market share, detailed ophthalmic drugs market segments, market trends, and opportunities, and any further data you may need to thrive in the ophthalmic drugs industry. This ophthalmic drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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