Global Ophthalmic Drugs Market Size, Trends, and Growth Opportunity, By Drug Class (Anti-glaucoma Drugs, Dry Eye Drugs, Ophthalmic Anti-allergy/Inflammatory, Retinal Drugs, Anti-infective Drugs, and Other Drugs), By Product Type (OTC Drugs and Prescription Drugs), By Region and Forecast to 2030.
Global Ophthalmic Drugs Market
The Global Ophthalmic Drugs Market was valued at USD 31.46 billion in 2022 and is expected to reach 49.7 billion by 2030, at a CAGR 4.40% during the forecast period 2023- 2030.
Numerous eye conditions, including cataracts, diabetic retinopathy, glaucoma, and myopia choroidal, are commonly treated using ophthalmic medicines. Many of the most common eye conditions in both children and adults are genetically based. Ophthalmic medications have been categorized as anti-infective, anti-glaucoma, anti-VEGF, anti-inflammatory, anti-allergy, and other medications.
Market Drivers
The market for ophthalmic medications will expand in the coming years because of increased funding for these projects and increased research & development in this area. During the predicted time, this industry will expand significantly due to the genetic population. The market will expand throughout the projection period as a consequence of the use of ophthalmic medications as prophylactic therapies for a range of eye ailments.
Preventative medications for eye illnesses will be made available as part of government initiatives to raise public awareness of health issues. The vast majority of businesses focused on the industry offer medication combinations for various eye illnesses, which is anticipated to drive market growth.
Market Restraints
Ophthalmic medications are connected with several adverse effects which are anticipated to hamper the market growth. eyesight haziness, light sensitivity, eye-stinging, fever or chills, tearing or itching, nausea, or vomiting are just a few of the side effects. In addition, the eye drops are loaded with thickeners and preservatives. Long-term use of these substances may cause eye irritation and contamination and faulty safety seals. All these factors hamper the market expansion.
Market Segmentation
The Global Ophthalmic Drugs Market is segmented into Drug Class and Product Type.
Based on Drug Class, the market is divided into Anti-glaucoma Drugs, Dry Eye Drugs, Ophthalmic Anti-allergy/Inflammatory, Retinal Drugs, Anti-infective Drugs, and Other Drugs.
Based on Product Type, the market is classified into OTC Drugs and Prescription Drugs.
Regional Analysis
The Global Ophthalmic Drugs Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
Due to a growing awareness of eye problems, North America led the market. The sector may also benefit from the presence of numerous organizations and their emphasis on R&D. For instance, Harrow Health, Inc. reported in June 2022 that the Prescription Drug User Free Act and the Food and Drug Administration (FDA) will increase access to ophthalmic medications such iopidine and maximal. In addition, Asia Pacific is anticipated to contribute to the growth of the industry due to the prevalence of disorders, an increase in patients, and the emergence of organizations for ophthalmology.
Key Players
Various key players are discussed in the Global Ophthalmic Drugs Market Report including: Aerie Pharmaceuticals Inc., AbbVie (Allergan), Bausch Health, Bayer AG, F. Hoffmann-La Roche Ltd, Hoya Corporation, Novartis AG, Pfizer Inc., and Regeneron Pharmaceuticals Inc.
Key Development
An AB-rated generic version of AbbVie's COMBIGAN, Sandoz, a Novartis business, introduced its generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5% in 2022. Patients in the United States with ocular hypertension (high eye pressure) will benefit from a reduction in eye pressure.
Seven branded ophthalmic products were purchased by Théa Pharma in 2022 from Akorn Operating Company LLC. The agreement strengthens Théa's position as a leading supplier of goods created to meet the needs of eye care professionals all around the United States.
Market Taxonomy
By Drug Class
• Anti-glaucoma Drugs
• Dry Eye Drugs
• Ophthalmic Anti-allergy/Inflammatory
• Retinal Drugs
• Anti-infective Drugs
• Other Drugs
By Product Type
• OTC Drugs
• Prescription Drugs
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
Global Ophthalmic Drugs Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Ophthalmic Drugs Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply & Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Portable Medical Devices Market, By Drug Class
5.1 Y-o-Y Growth Comparison, By Drug Class
5.2 Global Ophthalmic Drugs Market Share Analysis, By Drug Class
5.3 Global Ophthalmic Drugs Market Size and Forecast, By Drug Class
5.3.1 Anti-glaucoma Drugs
5.3.2 Dry Eye Drugs
5.3.3 Ophthalmic Anti-allergy/Inflammatory
5.3.4 Retinal Drugs
5.3.5 Anti-infective Drugs
5.3.6 Other Drugs
6 Global Portable Medical Devices Market, By Product Type
6.1 Y-o-Y Growth Comparison, By Product Type
6.2 Global Ophthalmic Drugs Market Share Analysis, By Product Type
6.3 Global Ophthalmic Drugs Market Size and Forecast, By Product Type
6.3.1 OTC Drugs
6.3.2 Prescription Drugs
7 Global Portable Medical Devices Market, By Region
7.1 Global Ophthalmic Drugs Market Share Analysis, By Region
7.2 Global Ophthalmic Drugs Market Size and Forecast, By Region
8 North America Ophthalmic Drugs Market Analysis and Forecast (2023-2030)
8.1 Introduction
8.2 North America Ophthalmic Drugs Market Share Analysis, By Drug Class
8.3 North America Ophthalmic Drugs Market Size and Forecast, By Product Type
8.4 North America Ophthalmic Drugs Market Size and Forecast, By Country
8.4.1 U.S.
8.4.2 Canada
8.4.3 Mexico
9 Europe Ophthalmic Drugs Market Analysis and Forecast (2023-2030)
9.1 Introduction
9.2 Europe Ophthalmic Drugs Market Share Analysis, By Drug Class
9.3 Europe l Ophthalmic Drugs Market Size and Forecast, By Product Type
9.4 Europe Ophthalmic Drugs Market Size and Forecast, By Country
9.4.1 Germany
9.4.2 France
9.4.3 UK
9.4.4 Rest of Europe
10 Asia Pacific Ophthalmic Drugs Market Analysis and Forecast (2023-2030)
10.1 Introduction
10.2 Asia Pacific Ophthalmic Drugs Market Share Analysis, By Drug Class
10.3 Asia Pacific Ophthalmic Drugs Market Size and Forecast, By Product Type
10.4 Asia Pacific Ophthalmic Drugs Market Size and Forecast, By Country
10.4.1 China
10.4.2 Japan
10.4.3 India
10.4.4 Rest of Asia Pacific
11 Latin America Ophthalmic Drugs Market Analysis and Forecast (2023-2030)
11.1 Introduction
11.2 Latin America Ophthalmic Drugs Market Share Analysis, By Drug Class
11.3 Latin America Ophthalmic Drugs Market Size and Forecast, By Product Type
11.4 Latin America Ophthalmic Drugs Market Size and Forecast, Country
11.4.1 Brazil
11.4.2 Rest of Latin America
12 Middle East Ophthalmic Drugs Market Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 Middle East Ophthalmic Drugs Market Share Analysis, By Drug Class
12.3 Middle East Ophthalmic Drugs Market Size and Forecast, By Product Type
12.4 Middle East Ophthalmic Drugs Market Size and Forecast, By Country
12.4.1 Saudi Arabia
12.4.2 UAE
12.4.3 Egypt
15.4.4 Kuwait
12.4.5 South Africa
13 Competitive Analysis
13.1 Competition Dashboard
13.2 Market share Analysis of Top Vendors
13.3 Key Development Strategies
14Company Profiles
14.1 Aerie Pharmaceuticals Inc.
14.1.1 Overview
14.1.2 Offerings
14.1.3 Key Financials
14.1.4 Business Segment & Geographic Overview
14.1.5 Key Market Developments
14.1.6 Key Strategies
14.2 AbbVie (Allergan)
14.2.1 Overview
14.2.2 Offerings
14.2.3 Key Financials
14.2.4 Business Segment & Geographic Overview
14.2.5 Key Market Developments
14.2.6 Key Strategies
14.3 Bausch Health
14.3.1 Overview
14.3.2 Offerings
14.3.3 Key Financials
14.3.4 Business Segment & Geographic Overview
14.3.5 Key Market Developments
14.3.6 Key Strategies
14.4 Bayer AG
14.4.1 Overview
14.4.2 Offerings
14.4.3 Key Financials
14.4.4 Business Segment & Geographic Overview
14.4.5 Key Market Developments
14.4.6 Key Strategies
14.5 F. Hoffmann-La Roche Ltd
14.5.1 Overview
14.5.2 Offerings
14.5.3 Key Financials
14.5.4 Business Segment & Geographic Overview
14.5.5 Key Market Developments
14.5.6 Key Strategies
14.6 Hoya Corporation
14.6.1 Overview
14.6.2 Offerings
14.6.3 Key Financials
14.6.4 Business Segment & Geographic Overview
14.6.5 Key Market Developments
14.6.6 Key Strategies
14.7 Novartis AG
14.7.1 Overview
14.7.2 Offerings
14.7.3 Key Financials
14.7.4 Business Segment & Geographic Overview
14.7.5 Key Market Developments
14.7.6 Key Strategies
14.8 Pfizer Inc.
14.8.1 Overview
14.8.2 Offerings
14.8.3 Key Financials
14.8.4 Business Segment & Geographic Overview
14.8.5 Key Market Developments
14.8.6 Key Strategies
14.9 F Regeneron Pharmaceuticals Inc.
14.9.1 Overview
14.9.2 Offerings
14.9.3 Key Financials
14.9.4 Business Segment & Geographic Overview
14.9.5 Key Market Developments
14.9.6 Key Strategies
