Press release
Global Ophthalmic Drugs Market booming in the Industry and Outreaches $42,663 million by 2023
It is expected that increased focus in the development of combined therapies for the treatment of ophthalmic disorders, the prevalence of these disorders and the increase in the geriatric population will promote the growth of the ophthalmic drug market. In addition, the continuous change in demography around the world complements this growth. However, the longer periods required for the approval of new ophthalmic medications and side effects associated with the same expansion of the boundary market.
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On the other hand, it is expected that the increase in the investment of manufacturers in emerging economies and the increase in initiatives to reduce the burden of glaucoma worldwide offer lucrative opportunities for market expansion. Multi-component delivery systems are expected to present a CAGR of 8.0% between 2017 and 2023, as these systems are ideal for maintaining and delivering therapeutics to tissues and target cells. The anti-inflammatory segment accounted for 28% of the ophthalmic market share in 2016 and is expected to continue dominating throughout the forecast period.
Key Findings of the Ophthalmic Drugs Market:
• The liquid ophthalmic drug forms generated the highest revenue in 2016, and are anticipated to continue the same trend, registering a CAGR of 4.1% from 2017 to 2023.
• The cell therapy technologies registered significant growth rate and is expected to register a CAGR of 6.5%.
• North America dominated the market, accounting for maximum share of 36% of the total market in 2016 and is expected to witness a CAGR of 4.4%.
• The online pharmacies segment is witnessing the highest CAGR of 5.8% among the end users.
• Anti-inflammatory drugs accounted for two-sevenths share of the global ophthalmic drugs market in 2016.
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Asia-Pacific is expected to witness highest growth rate for ophthalmic drugs throughout the forecast period, and is expected to continue this trend, owing to high population density, increase in geriatric population, and rise in incidence of congenital glaucoma and cataract in India and China.
Top Key Players :
• Santen Pharmaceutical Co.Ltd.
• Bausch & Lomb Inc. (Valeant Pharmaceuticals International Inc.)
• Shire Plc
• Alcon (Novartis)
• Genentech Inc.
• Allergan Plc
• Sun Pharmaceutical Industries Limited
• Actavis Generics (Teva Pharmaceutical Industries Ltd.)
• Regeneron Pharmaceuticals Inc.
• Pfizer Inc.
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