Ophthalmic Drugs Market to Reach US$34.3 Billion by 2025: Players Entering Into Co-development Agreements to Enhance Product Portfolio
ALBANY, New York, July 25, 2017 /PRNewswire/ --
Some of the key players operating in the global ophthalmic drugs market are ALLERGAN, Aerie Pharmaceuticals, Inc., Pfizer Inc., Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc., Novartis AG , Regeneron Pharmaceuticals, Inc., Shire, and Santen Pharmaceutical Co., Ltd. Novartis, of them, is a leading player, which held a share of 12% in the market in 2012.
Noticeable trends in the global ophthalmic drugs market are keen players entering into co-development agreements to formulate novel biological agents having lesser treatment durations, emerging market players focusing on unmet medical needs in ophthalmology, and generic manufacturers bolstering their distribution networks of affordable drugs in rural areas of developing regions, having maximum visually challenged people.
As per a report by Transparency Market Research, the global ophthalmic drugs market will likely attain a value of US$34.3 bn by 2025 from US$24.4 bn in 2016 by registering a tepid CAGR of 4.0% from 2017 to 2025.
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Higher Uptake of Advanced Products Makes North America Foremost Region
Depending upon disease indication, the global ophthalmic drugs market can be divided into retinal disorders, dry eye, glaucoma, infection/inflammation, uveitis, allergy, etc. Of them, the retinal disorders segment which can be further segmented into wet age-related macular degeneration, dry age-related macular degeneration, diabetic retinopathy, etc., accounts for maximum market share because of a burgeoning patient population requiring long-term treatment, rising instances of diabetic retinopathy as co-morbidity in diabetic patients, new drugs curing irreversible eye disorders, and proper reimbursement policies in developed countries for ophthalmic drug treatment.
Based on geography, the key segments of the global ophthalmic drugs market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, at present is the leading region on account of higher uptake of advanced novel products and techniques, and high cost of therapies among all regions. The market in North America is slated to become worth US$13.80 bn by 2025.
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Increased Investments in Research to Develop More Effective Products, Drives Market
At the forefront of driving growth in the global ophthalmic drugs market is obviously the rising instances of eye diseases and consequent visual impairment. Elaborates the lead analyst of the TMR report, "Ophthalmic drugs is an expanding market because of the increasing prevalence of intraocular eye disorders such as cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, etc. This is mainly seen in the elderly. Further, there is a rising incidence of eye diseases globally such as dry eye, conjunctivitis, uveitis, and others, and the number of people afflicted with eye diseases is predicted to grow exponentially in the next couple of years. Sensing an opportunity in this, major market players across the globe are upping investments in research to innovate on treatment methods and improve the drug's action mechanism with novel biological agents."
This review is based on the findings of a TMR report, titled, "Ophthalmic Drugs Market (Disease Indication - Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders (Wet Age-related Macular Degeneration, Dry Age-related Macular Degeneration, and Diabetic Retinopathy), Allergy, and Uveitis; Therapeutic Class - Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs and Anti-bacterial Drugs), Anti-glaucoma Drugs (Alpha Agonist, Beta Blockers, Prostaglandin Analogs, and Combined Medication), Anti-allergy Drugs, and Anti-VEGF Agents; Product Type - Prescription Drugs and Over-the-Counter Drugs; Distribution Channel - Hospital Pharmacies, Online Pharmacies, and Independent Pharmacies and Drug Stores) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025."
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The report segments the global ophthalmic drugs market as follows:
Global Ophthalmic Drugs Market, by Disease Indication
- Dry Eye
- Glaucoma
- Infection/Inflammation
- Retinal Disorders
- Wet Age-related Macular Degeneration
- Dry Age-related Macular Degeneration
- Diabetic Retinopathy
- Others
- Allergy
- Uveitis
- Others
Global Ophthalmic Drugs Market, by Therapeutic Class
- Anti-inflammatory Drugs
- Nonsteroidal Anti-inflammatory Drugs
- Steroids
- Anti-infective Drugs
- Anti-fungal Drugs
- Anti-bacterial Drugs
- Others
- Anti-glaucoma Drugs
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Combined Medication
- Others
- Anti-allergy Drugs
- Anti-VEGF Agents
- Others
Global Ophthalmic Drugs Market, by Product Type
- Prescription Drugs
- Over-the-Counter Drugs
Global Ophthalmic Drugs Market, by Distribution Channel
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
Global Ophthalmic Drugs Market, by Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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