Ophthalmic Drugs Market to reach USD 52.8 Bn in 2031, expanding at a CAGR of 6.2%: TMR Report

The global 𝐨𝐩𝐡𝐭𝐡𝐚𝐥𝐦𝐢𝐜 𝐝𝐫𝐮𝐠𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, valued at US$ 31.4 Bn in 2022, is on a trajectory of substantial growth, projected to achieve a remarkable CAGR of 6.2% from 2023 to 2031, ultimately exceeding US$ 52.8 Bn by 2031.

This growth is primarily fueled by the escalating prevalence of various eye disorders and diseases, including glaucoma, cataracts, macular degeneration, and diabetic retinopathy. Factors such as an aging population and shifting lifestyles contribute to the surge in eye conditions, driving demand for effective ophthalmic drugs for management and treatment. Additionally, increased healthcare expenditure and growing awareness regarding eye health further bolster the expansion of the global ophthalmic drugs market, underscoring the importance of addressing these pressing medical needs.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅:
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𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

AbbVie, Inc., Alcon Vision LLC, Bausch Health Companies, Inc., Bayer AG, Coherus BioSciences, F. Hoffmann-La Roche Ltd., Novartis Pharmaceuticals Corporation, Pfizer, Inc., Regeneron Pharmaceuticals, Inc., Santen, Inc., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

Therapeutic Class

Anti-VEGF Agents
Anti-glaucoma Drugs
Alpha Agonist
Beta Blockers
Prostaglandin Analogs
Combined Medication
Others

Anti-inflammatory Drugs
Steroids
NSAIDs
Anti-infective Drugs
Anti-bacterial Drugs
Anti-fungal Drugs
Others

Anti-allergy Drugs
Others

Indication

Dry Eye
Glaucoma
Infection / Inflammation
Retinal Disorders
Wet AMD
Dry AMD
Diabetic Retinopathy
Others

Allergy
Uveitis
Others

Route of Administration

Topical
Local Ocular (intravitreal)
Others

Product Type

OTC
Prescription
Dosage Form
Eye Drops
Eye Solutions & Suspensions
Capsules & Tablets
Gels
Ointments
Others

Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

𝐆𝐞𝐭 𝐓𝐡𝐢𝐬 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭, 𝐈𝐧𝐬𝐭𝐚𝐧𝐭𝐥𝐲:
https://www.transparencymarketresearch.com/checkout.php?rep_id=1769<ype=S&utm_source=OpenPR&utm_medium=OpenPR&utm_campaign=MansiR

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬:

In April 2022, Sandoz, a Novartis division, announced the U.S. launch of the generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5%, an AB-rated generic equivalent to AbbVie's COMBIGAN, to lower eye pressure in patients with ocular hypertension

In January 2022, F. Hoffmann-La Roche Ltd. received the U.S. Food and Drug Administration (FDA) approval for Vabysmo (faricimab-svoa) for the treatment of wet, or neovascular, age-related macular degeneration (AMD) and diabetic macular edema (DME)

In October 2021, the U.S. FDA approved AbbVie, Inc.'s Vuity (pilocarpine HCl ophthalmic solution) for the treatment of presbyopia. Vuity is the first and only eye drop to treat presbyopia, or age-related blurry near vision, in adults.

In September 2021, Teva Pharmaceuticals USA, Inc., an affiliate of Teva Pharmaceutical Industries Ltd., received an approval from the U.S. FDA for the first available generic version of AZOPT (brinzolamide ophthalmic suspension) 1% for the treatment of high pressure inside the eye due to ocular hypertension and open-angle glaucoma.

𝐑𝐞𝐠𝐢𝐨𝐧𝐬 𝐂𝐨𝐯𝐞𝐫𝐞𝐝:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Noteworthy trends include the adoption of novel drug delivery systems, rising demand for combination therapies, and increasing focus on personalized medicine approaches tailored to individual patient needs.

𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

The future of the ophthalmic drugs market appears promising, with continued research and development efforts expected to yield groundbreaking therapies and treatments for various eye conditions. Collaboration between pharmaceutical companies and research institutions is likely to drive innovation and accelerate market growth.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐭𝐮𝐝𝐲 𝐏𝐨𝐢𝐧𝐭𝐬:

Epidemiological trends and prevalence rates of major eye diseases.
Regulatory landscape governing ophthalmic drugs.
Competitive analysis of major market players.
Market penetration strategies and expansion opportunities.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐌𝐑:

𝐒𝐡𝐨𝐭𝐜𝐫𝐞𝐭𝐞/𝐒𝐩𝐫𝐚𝐲𝐞𝐝 𝐂𝐨𝐧𝐜𝐫𝐞𝐭𝐞 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/12/2668042/0/en/Shotcrete-Sprayed-Concrete-Market-is-expected-to-see-a-growth-of-7-during-the-forecast-period-2023-2031-Exclusive-Report-by-Transparency-Market-Research.html

𝐍𝐨𝐧-𝐈𝐧𝐯𝐚𝐬𝐢𝐯𝐞 𝐓𝐞𝐬𝐭𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭- https://www.globenewswire.com/news-release/2023/05/12/2667973/0/en/Non-Invasive-Testing-Market-Predicted-to-Grow-at-14-8-CAGR-from-2022-2031-as-per-TMR-Analysis.html

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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