Ophthalmic Drugs Market 2021 In Deep Analysis, Expert Reviews and Healthcare Outlook 2025
The Ophthalmic Drugs Market is expected to register a CAGR of nearly 4.6% during the forecast period.
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Top Companies in the Global Ophthalmic Drugs Market: Aerie Pharmaceuticals Inc., Abbive (Allergan), Bausch Health, Bayer AG, F. Hoffmann-La Roche Ltd, Hoya Corporation, Novartis AG, Pfizer Inc., and Regeneron Pharmaceuticals Inc.
The increasing prevalence of eye diseases is increasing the demand for ophthalmic drugs, globally. In many developed and developing countries, eye conditions have emerged as potential threats to the status of sight of their populations. The increase in the prevalence of diabetes in various countries has caused diabetic retinopathy to be added to the priority list. Glaucoma, an eye disease known for centuries, remains on the public health agenda due to difficulties in its early diagnosis and frequent necessity of life-long treatment. According to the WHO, in 2018, it was estimated that approximately 1.3 billion people were living with some form of vision impairment, 188.5 million people had mild vision impairment, 217 million had moderate to severe vision impairment, and 36 million people are blind. Globally, the leading causes of vision impairment are uncorrected refractive errors and cataracts, and the majority of people with vision impairment are over the age of 50 years. According to the WHO, chronic eye diseases are the number one cause of vision loss, with the top two causes being unoperated cataracts and uncorrected refractive errors. The former is the leading cause in countries with low- or middle-incomes. More than 80% of the vision impairments are curable or preventable, which means that these drugs are required for the management of the diseases. Hence, the rising incidence of eye-related disorders is projecting a great impact on the growth of market studied.
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
The Asia-Pacific Segment is Expected to Account for the Fastest Growth Rate
The ophthalmic drugs market is expanding and growing, globally. The market has been witnessing exponential growth in the Asia-Pacific region. Glaucoma and tear substitute (for dry eye) drugs are the leading products in Asia-Pacific. India is likely to be among the top three pharmaceutical markets by incremental growth and the sixth-largest market, globally, in absolute size, according to the Clinical and Experimental Vision and Eye Research, India, 2018. Increase in the number of middle-class households, advancement in medical infrastructure, and the increasing penetration of health insurance in the country are likely to play a significant role in influencing this growth. According to the National Health Policy (NHP), in India, glaucoma is the leading cause of irreversible blindness with at least 12 million people having affected and nearly 1.2 million people having blinded from the disease. More than 90% of the cases of glaucoma remain undiagnosed in the country.
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