Ophthalmic Drugs Market : Advanced Technologies & Growth Opportunities In Global Industry By 2018

Using a lucid and comprehensive format, the research report studies past and current market trends to throw light on the future trajectory of the global ophthalmic drugs market. It leverages SWOT analysis to elaborate on the strengths, weaknesses, opportunities, and threats of prominent players, in particular and the industry, in general. It has been compiled after thorough primary and secondary research. Additionally, the report also talks about the latest research and development in the field of ophthalmic drugs, an in-depth financial overview, investment outlook, and product portfolio of key vendors.

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Overview of the Global Ophthalmic Drugs Market

Ophthalmic drugs or ophthalmic medications are drops, intraocular disks, and ointments that are prescribed to patients with eye-related disorders. The last few years saw an impressive growth in the global ophthalmic drugs market. This is on account of high prevalence of eye disorders afflicting a growing number of diabetics, aging people, and those with macular degeneration. Reports suggest over 60 mn people suffer from glaucoma and this number would reach 80 mn by 2020. Such alarming numbers, coupled with rapid strides in technology, drug delivery methods, and rising awareness about lifestyle-related diseases, are driving the global ophthalmic drugs market.

Data released by the World Health Organization (WHO) reveals that 90% of the world’s visually impaired people reside in developing countries such as Mexico, Brazil, China, and India. It shows close to 285 mn are visually impaired across the world of whom 246 mn have low vision and 39 mn are blind. This is expected to boost the market of ophthalmology devices phenomenally. The global ophthalmic drugs market is predicted to attain a market value of US$21.6 bn by 2018. The report segments the market on various parameters, namely type of drugs, their various treatments, and geography.

The global ophthalmic drugs market is segmented on the basis of type into prescription drugs and over-the-counter drugs. On the basis of the type of treatments they offer, the market can be divided into dry eye drugs, retinal drugs, allergy or infective drugs, anti-inflammatory, and anti-glaucoma drugs. Amongst treatment drugs, the anti-glaucoma drugs segment is leading the global ophthalmic treatment drugs market. Geographically, this market is segmented into Europe, North America, Asia Pacific, and Rest of the World. North America currently dominates the overall ophthalmic drugs market and is likely to retain its leading position, on account of initiatives being undertaken on a large scale to thwart blindness and other eye-related disorders, particularly in the aging population. The ophthalmic drugs market in Asia Pacific is also expected to register robust growth due to the high occurrence of ophthalmic disorders amongst geriatrics in the region. Further, economic development in the region on account will put more disposable income into the hands of the people, thereby enabling them to avail proper treatment.

Lack of knowledge of diseases such as glaucoma, particularly in developing or backward economies, however, is hobbling growth of the global ophthalmic drugs market. Additionally, loss of patent protection for several drugs and drying pipeline would also led to losses of manufacturers. These restraints will be a drag on the grow rate of the market.

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Companies mentioned in the research report

Some of the key players in the global ophthalmic drugs market are Novartis International AG., Santen Pharmaceutical Co. Ltd., Roche Holding AG, Merck & Co. Inc., Pfizer Inc., and Allergan Inc.

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