The global ophthalmic drugs market is anticipated to show robust growth with an impressive CAGR in the forecast years, 2023-2027. The market growth attributes to the growing number of eye diseases and advancing pharmaceuticals and drugs. Moreover, consumers are more aware of eye-related diseases and advancing technologies that would further accelerate the global ophthalmic drugs market in the upcoming five years.
Diseases like diabetic retinopathy, macular degeneration, and presbyopia are rapidly spreading among the global population and thereby supporting the growth of the global ophthalmic drugs market in the next five years. The global ophthalmic drugs market was drastically affected due to the recent COVID-19 pandemic situation. The pharmaceutical sector was dedicated completely to finding the vaccines and cures for coronavirus spread. However, recent advancements in the prevalence of eye infections and vision-related diseases have enticed pharmaceutical companies to develop more efficient and effective drugs and thus aiding the growth of the global ophthalmic drugs market in the future five years until 2027.
The global ophthalmic drugs market is segmented by drug class, indication, product type, dosage form, route of administration, distribution channel, competitional landscape, and regional distribution. Based on drug class, the market is further bifurcated into anti-inflammatory drugs, anti-infection drugs, anti-allergic drugs, anti-glaucoma drugs, and others. Anti-glaucoma drugs are anticipated to hold the largest revenue shares of the market and assert their dominance over the segment in the next five years, on account of the increasing number of patients suffering from loss of vision.
One of the major reasons for loss of vision is glaucoma. Increasing instances of glaucoma are driving the growth of anti-glaucoma drugs and thus supporting the growth of the global ophthalmic drugs market. Anti-infection drugs are expected to hold significant shares of the market. The growth can be attributed to rising cases of eye infection due to increasing cases of the COVID-19 virus and its variants. The evolving virus is causing severe damages, and the anti-infection drugs are anticipated to overcome the infection, thereby supporting the growth of the market until 2027.
Holding the major shares of the global ophthalmic drugs market are AbbVie Inc. (Allergan), Bausch Health Companies Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Hoya Corporation, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Alcon Inc., Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Ltd., Cipla Ltd., Merck & Co., Inc., Coherus Biosciences, Inc., among others.
Market players are actively involved in the research and technological development in the pharmaceuticals and drugs department. The advanced technology has made it possible for the healthcare industry to provide excellent healthcare services through Ophthalmic Drugs. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfy the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
Objective of the Study
- To analyze the historical growth of the market size of global ophthalmic drugs market from 2017 to 2020.
- To estimate and forecast the market size of global ophthalmic drugs market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global ophthalmic drugs market based on drug class, indication, product type, dosage form, route of administration, distribution channel, competitional landscape, and regional distribution.
- To identify dominant region or segment in the global ophthalmic drugs market.
- To identify drivers and challenges for global ophthalmic drugs market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global ophthalmic drugs market.
- To identify and analyze the profile of leading players operating in global ophthalmic drugs market.
- To identify key sustainable strategies adopted by market players in global ophthalmic drugs market.
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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of global Ophthalmic Drugs market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience
- Manufacturers, end users, and other stakeholders
- Distributers and suppliers of products and other stakeholders
- Organizations, forums, and alliances related to ophthalmic drugs
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
| Attribute | Details |
| Base Year | 2021 |
| Historical Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027 |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments covered | · Drug Class · Indication · Product Type · Dosage Form · Route of Administration · Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country scope | United States, Mexico, Canada, China, India, Japan, South Korea, Australia, Singapore; Indonesia; Germany, France, United Kingdom, Spain, Italy, Belgium; Sweden; Switzerland; South Africa, UAE, Saudi Arabia, Qatar, Brazil, Argentina, Colombia |
| Key companies profiled | AbbVie Inc. (Allergan), Bausch Health Companies Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd., Hoya Corporation, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Alcon Inc., Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Ltd., Cipla Ltd., Merck & Co., Inc., Coherus Biosciences, Inc. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
