Press release
Global Ophthalmic Drugs Market to Reach US$21.6 bn by 2018 due to High Incidence of Eye-related Disorders amongst Geriatrics
According to the research report, the global ophthalmic drugs market was valued at US$16 bn in 2012 and is estimated to reach a market value of US$21.6 bn by 2018, rising at a CAGR of 5.2% from 2013 to 2018. Ophthalmic drugs or ophthalmic medications refer to ointments, drops, or intraocular disks that are prescribed to patients with eye-related disorders. The remarkable growth of the global ophthalmic drugs market in the last few years is related to the high incidence of eye disorders due to the increasing number of diabetics, the growing pool of the aging population, and macular degeneration. The significant number of technological advancements in drug delivery techniques and increasing awareness about and prevalence of lifestyle-related diseases are also propelling the global ophthalmic drugs market.
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The global ophthalmic drugs market is segmented on the basis of type, treatment drug, and geography. The types of drugs in this market are OTC drugs and prescription drugs. On the basis of treatment drug, this market is segmented into retinal drugs, dry eye drugs, anti-inflammatory or allergy or infective drugs, and anti-glaucoma drugs. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Amongst treatment drugs, the anti-glaucoma drugs segment is leading the global ophthalmic treatment drugs market, with a CAGR of 4.2% expected during the mentioned forecast period.
In terms of regions, North America dominates the overall ophthalmic drugs market and is likely to maintain its dominance due to the growing initiatives to prevent blindness and other disorders related to the eyes amongst the aging population. During the same forecast period of 2013-2018, the ophthalmic drugs market in Asia Pacific is also expected to witness strong growth due to the increasing ophthalmic disorders amongst geriatrics in the region. Countries such as China, India, and others in Southeast Asia are expected to be the largest consumers of these drugs, thereby propelling the ophthalmic drugs market in Asia Pacific.
Some of the key players in the global ophthalmic drugs market are Santen Pharmaceutical Co. Ltd., Merck & Co. Inc., Roche Holding AG, Pfizer Inc., Allergan Inc., and Novartis International AG. Presently, Novartis leads the global ophthalmic drugs market with a share of 24% in the overall market as of 2012. The research report provides a detailed analysis of the competitive landscape of the global ophthalmic drugs market and the regulatory framework influencing the overall market. Additionally, the report also explains the research and development activities, financial overview, investment outlook, and product portfolio of these top players
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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