Ageing Population to Drive Ophthalmic Drugs Market to Higher Growth Trajectory: TMR Study

- Dry eye segment under disease indication category, anti-glaucoma drugs segment under therapeutics class category to account for a massive share of the market

- Increasing adoption of advanced therapeutics is set to contribute positively to growth over the forecast period

- North America to dominate regional landscape of global ophthalmic drugs market

News provided by

Transparency Market Research

Jul 09, 2020, 08:30 ET

ALBANY, New York, July 9, 2020 /PRNewswire/ -- From 2019 to 2027, the global ophthalmic drugs market will grow at a compound annual growth rate (CAGR) of 4.1%., pulling up the market worth from about USD 26 billion in 2018 to USD 37.2 billion by the end of the forecast period.

As per Transparency Market Research, "Multiple factors of growth are underscoring growth in the global ophthalmic drugs market. Foremost among these factors are increase in incidence of eye related diseases, and increasing adoption of new and advanced therapeutics in the field."

Key Findings of Global Ophthalmic Drugs Market Study:

On the basis of disease indication, the dry eye segment would lay claim to a sizeable share of the market owing to increasing pollution level, and high screen time
On the basis of therapeutic class, anti-glaucoma drugs will dominate the market landscape over the forecast period
Region-wise, North America is set to dominate the market owing to increasing patient pool

For a detailed analysis of Global Ophthalmic Drugs Market by disease indication, therapeutic class, product type, distribution channel, and region, visit TOC https://www.transparencymarketresearch.com/report-toc/1769

Key Drivers of Growth in Global Ophthalmic Drugs Market:

Transparency Market Research has identified a slew of notable trends and drivers, propelling the global ophthalmic drugs market on to a high growth trajectory. Major growth factors are delineated below:

Unmet need in the space of treatment options for ophthalmologic diseases space has been noted
Increase in incidence of uveitis, optic nerve degeneration, retinitis pigmentosa, and retinoblastoma is paving way for growth
Recent approvals for advanced retinal treatment options will drive growth in the market over the forecast period
Increase in ageing population is underscoring growth as the demographic is susceptible to conditions such as ARMD, and glaucoma
In 2017, there were about 970 million people aged 60 and above and this is set to increase to a number of 2 billion by 2050
Globally, 1:6 will be the ratio of number of people aged 65 and above to total number of people
Increase in incidence of diabetes is leading to growth in the global ophthalmic drugs market by creating risk for retinopathy

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Regional Analysis of Global Ophthalmic Drugs Market:

Highly structured healthcare infrastructure in North America is set to help the region dominate the global ophthalmic drugs market over the forecast period
Asia Pacific (APAC) region will emerge as a lucrative market owing to a high CAGR anticipated for the region for the forecast period

Analyze Global Ophthalmic Drugs Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1769

Competitive Landscape of Global Ophthalmic Drugs Market:

Decent number of players operates in the global ophthalmic drugs market, making it fragmented. Prominent names in the market include Aerie Pharmaceuticals, Inc., ALLERGAN, Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc. (F. Hoffmann-La Roche Ltd.), Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals, Inc., and Santen Pharmaceutical Co., Ltd., among others.

Primary focus for most players is development of better and more effective products. That also translates to efforts directed towards technological advancement and research and development (R&D) activities. Strategies to enter a new market, or penetrate deeper into an existing one often entail key alliances or collaborations based on mutual synergies.

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The global Ophthalmic Drugs Market has been segmented as follows:

Global Ophthalmic Drugs Market, by Product Type

Prescription Drugs
OTC Drugs

Global Ophthalmic Drugs Market, by Therapeutic Class

Anti-inflammatory Drugs

NSAIDs
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 Disease Indication

Dry Eye
Glaucoma
Infection/Inflammation
Retinal Disorders

Wet AMD
Dry AMD
Diabetic Retinopathy
Others

Allergy
Uveitis
Others

Global Ophthalmic Drugs Market, by Distribution Channels

Hospital Pharmacies
Online Pharmacies
Independent Pharmacies & Drug Stores

Global Ophthalmic Drugs Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Healthcare industry:

Dry Eye Disease Market: Transparency Market Research estimates that the dry eye disease market will expand at a CAGR of 4.5% over the forecast period between 2017 and 2025. Escalating at this pace, the market, which had a valuation of US$ 5,045.2 Mn in 2016 in terms of revenue, is projected to rise to US$ 7,780.0 Mn by 2025.

Glaucoma Treatment Market: A new exhaustive report collated by Transparency Market Research envisages an average growth for the global glaucoma treatment market in the period between 2017 and 2026.More than US$ 3,300 revenues are expected to be gained from treatment of glaucoma across the globe by 2026-end.

Macular Degeneration Treatment Market: The global macular degeneration treatment market was valued at US$ 6.1 Bn in 2017. It is anticipated to reach US$ 11.1 Bn by 2026, expanding at a CAGR of 6.4% from 2018 to 2026. Increase in R&D investments by key players has resulted in innovative products.

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