(MENAFN - GetNews) Ophthalmic Drugs Market Report Insights And Industry Analysis By Category By Indication (Glaucoma, Retinal Disorder, Others), Class (Antiallergy, Anti-Inflammatory, And Others), Dosage (Eye Drops), Product (Prescription, OTC Drug), Distribution Channel ,According To The Latest Research Report From Market Research Future (MRFR) A CAGR Of 6.0 % In The Forecast Period – Region, Competitive Market Size, Share, Trends, And Forecast, 2018-2023
The Market Ophthalmic Drugs Market Is Expected To Utilize A CAGR Of 6.0 % In The Forecast Period. Escalating instances of eye diseases are prompting growth in the ophthalmic drug market. Reports that review the pharmaceutical industry have been offered by Market Research Future, which generates reports on industry verticals that evaluate the market development and opportunities.
Increased level of research in the market is expected to motivate the development of ophthalmic drugs. The expansion of the pharmaceutical sector is expected to motivate the market at an incremental rate in the coming years. Moreover, increased government backing is expected to encourage the progress of the ophthalmic drug market in the approaching years.
The rise in the number of visually impaired population is increasing in tandem with the rise in geriatric population. Eye diseases such as Retinal Vein Occlusion (RVO), Wet AMD, Myopic Choroidal Neovascularization (mCNV), diabetic retinopathy, and others are on the rise which generates high demand for ophthalmic drugs. Moreover, a rise in the volume of cataract surgeries followed by a high incidence rate of glaucoma and dry eye are among major growth factors for the global ophthalmic drugs market.
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The central players featured in the ophthalmic drugs market are:
- Allergan Plc
- Bausch & Lomb Inc.
- Genentech Inc.
- Merck & Co. Inc.
- Pfizer Inc.
- Actavis Generics
- Regeneron Pharmaceuticals Inc.
- Shire Plc
- Sun Pharmaceutical Industries Limited
- Santen Pharmaceutical Co. Ltd.
- Teva Pharmaceutical Industries Ltd.
- Valeant Pharmaceuticals International
- and others
February 2019 - Bausch + Lomb, a leading eye health company, announced that it had received FDA approval for LOTEMAX SM (loteprednol etabonate ophthalmic gel). The new gel formulation is intended to treat postoperative inflammation and pain following ocular surgery.
Sun Pharmaceutical Industries Limited, Santen Pharmaceutical Co., Ltd., Shire Plc, Bausch & Lomb Inc., Pfizer Inc., Merck & Co., Inc., Teva Pharmaceutical Industries Ltd., Genentech, Inc., Valeant Pharmaceuticals International, Inc., Regeneron Pharmaceuticals, Inc., Allergan Plc, Actavis Generics, and others are the notable players in the global ophthalmic drugs market.
The segmental evaluation of the ophthalmic drugs market is carried out on the basis of drug class, indication, type of dosage, product, and distribution channel. Based on the indications, the market is segmented into uveitis, glaucoma, inflammation/infection, retinal disorders, dry eye, allergies, and others. By the drug class, the ophthalmic drugs market is segmented into anti-VEGF agents, antiallergy, antiglaucoma, anti-inflammatory, and others.
The anti-inflammatory segment is moreover segmented into nonsteroidal drugs and steroidal drugs. Based on the type of dosage, the market is segmented into eye solutions, capsules and tablets, eye drops, ointments, and gels. Based on the product, the ophthalmic drugs market is segmented into prescription drugs and OTC drugs. Based on the distribution channel, the market for ophthalmic drugs is segmented into drug stores, online pharmacies, hospital pharmacies, and others. Based on the regions, the market includes regions such as Asia Pacific, Europe, Asia Pacific, Africa, America, and the Middle East.
The Americas dominates the ophthalmic drugs market owing to the presence of patient population, rising prevalence of eye diseases, well-developed technology, high healthcare expenditure, and the presence of the leading players. According to the glaucoma research foundation, in the United States, more than 120,000 are blind because of glaucoma. This accounts for 9 to 12% of all the cases of blindness. It is also reported that over 3 million Americans have glaucoma, but only a few of them know they have it. It is also reported that glaucoma accounts for more than 10 million visits to physicians each year.
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