Press release
Emerging Trends to Drive Ophthalmic Drugs Market Growth at 7.7% CAGR Through 2029
Ophthalmic Drugs Market
Ophthalmic Drugs Market Size Growth Forecast: What to Expect by 2025?
The market size of ophthalmic drugs has seen robust growth in the past few years. The market, which is projected to rise from $39.36 billion in 2024 to $42.65 billion in 2025, will experience a compound annual growth rate (CAGR) of 8.3%. The historical growth can be ascribed to a rise in eye condition cases, research and development investments in eye healthcare, shifts in lifestyle, a worldwide increase in diabetes patients, and governmental efforts towards eye health.
How Will the Ophthalmic Drugs Market Size Evolve and Grow by 2029?
In the upcoming years, the ophthalmic drugs market is forecasted to experience significant growth, estimated to reach "$57.4 billion in 2029 at a 7.7% compound annual growth rate (CAGR). Factors contributing to the projected growth in the forecast period include biopharmaceutical breakthroughs, growing occurrences of myopia, a burgeoning senior citizen population, individualized medication strategies, and regulatory backing for rare ailments. Major trends for the forecast period comprise biologics and gene treatments, greater emphasis on dry eye therapies, innovations in glaucoma care, the rise of combined treatments, and a concentration on age-related macular degeneration (AMD).
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What Drivers Are Propelling the Growth of Ophthalmic Drugs Market Forward?
The surge in instances of ophthalmic disorders is predicted to fuel the expansion of the ophthalmic drug market in the future. Such disorders pertain to any illness or condition impacting the eye or its surrounding area, leading to vision impairment and other eye problems. Ophthalmic pharmaceuticals, or drugs used to treat diseases affecting vision or the eye, see increased demand as the frequency of these disorders rise. According to data from the US government agency, the Centers for Disease Control and Prevention (CDC), in 2022, it's anticipated that 17.2% of Americans aged 40 and above (around 20.5 million individuals) will experience a cataract in at least one eye. Hence, the escalation in ophthalmic disorder occurrences has been a significant catalyst for the ophthalmic drug market.
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Which Emerging Trends Are Transforming the Ophthalmic Drugs Market in 2025?
Product innovation remains a central trend in the ophthalmic drug market, with companies developing new formulations to stay competitive. In January 2022, Canada-based Sun Pharmaceutical Canada Inc. introduced CEQUA (cyclosporine ophthalmic solution 0.09% w/v) for treating dry eye disease in Canada. The product uses nano micellar (NCELL) technology to enhance cyclosporine's bioavailability and stability, improving ocular tissue penetration.
What Are the Key Segments in the Ophthalmic Drugs Market?
The ophthalmic drugs market covered in this report is segmented -
1) By Type: Prescription Drugs, Over-The-Counter Drugs
2) By Class: Anti-Allergy, Anti-Inflammatory, Anti-Glaucoma, Other Classes
3) By Disease: Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders, Uveitis, Other Diseases
4) By Dosage Form: Liquid Ophthalmic Drug Forms, Solid Ophthalmic Drug Forms, Semisolid Ophthalmic Drug Forms, Multicompartment Drug Delivery Systems
5) By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies
Subsegments:
1) By Prescription Drugs: Antiglaucoma Agents, Anti-inflammatory Drugs, Antibiotics, Antivirals, Corticosteroids, Other Prescription Drugs
2) By Over-The-Counter Drugs: Artificial Tears, Allergy Relief Medications, Redness Relievers, Ocular Vitamins And Supplements, Other OTC Drugs
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Who Are the Key Players Shaping the Ophthalmic Drugs Market's Competitive Landscape?
Major companies operating in the ophthalmic drugs market include AbbVie Inc., Alcon Inc., Bausch & Lomb Incorporated, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Nicox S.A., Coherus Biosciences Inc., Johnson & Johnson, Otsuka Pharmaceutical Co. Ltd., Viatris Inc., Mitotech SA, Akorn Incorporated, GlaxoSmithKline plc, Bayer AG, Senju Pharmaceutical Co. Ltd., Aerie Pharmaceuticals Inc., Kala Pharmaceuticals Inc., Aurobindo Pharma Ltd., Eyevance Pharmaceuticals, Acucela Inc., Dompe Farmaceutici S.p.A., Xbrane Biopharma AB, Laboratoires Théa
What Geographic Markets Are Powering Growth in the Ophthalmic Drugs Market?
North America was the largest region in the ophthalmic drugs market in 2024. The regions covered in the ophthalmic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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