Press release
Global Corticosteroid Eyedrops Market Worth $12.88 Billion by 2029, Growing at 6.5% CAGR
Corticosteroid Eyedrops
Corticosteroid Eyedrops Market Outlook: What Size And CAGR Are Anticipated By 2025?
In recent times, the corticosteroid eyedrops market has experienced significant growth. It is anticipated that it will expand from $8.36 billion in 2024 to $10.00 billion in 2025, witnessing a compound annual growth rate (CAGR) of 6.8%. This growth during the historical period can be attributed to factors such as an aging population, an increase in eye inflammation cases, a rise in cataract surgeries, expansion of ophthalmology clinics, a higher prevalence of allergic conjunctivitis, and enhanced understanding of eye health.
What Is the Expected CAGR for the Corticosteroid Eyedrops Market Growth Through 2029?
Strong expansion is anticipated in the corticosteroid eyedrops market in the coming years, with an expected worth of $12.88 billion by 2029, at a compound annual growth rate (CAGR) of 6.5%. The surge in growth during this time is likely due to an increase in diabetic eye conditions, a heightened demand for minimally invasive procedures, a rise in digital eye fatigue, the expansion of teleophthalmology, the prevalence of chronic eye diseases, and an increase in global surgical eye operations. Noteworthy trends for the forecast period consist of nano-formulated delivery systems, preservative-free drugs, smart dose-tracking packaging, AI-led prescription platforms, and combination drugs offering enhanced bioavailability.
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What Are the Primary Drivers Behind Corticosteroid Eyedrops Market Growth?
The escalating occurrence of eye conditions is predicted to drive the expansion of the corticosteroid eyedrops market in the future. Eye diseases involve any issues that could impair the well-being and functionality of the eyes, potentially resulting in vision impairment or even total loss of sight if not duly treated. The surge in eye conditions can be attributed to longer screen time, inducing digital eye fatigue and leading to problems such as dry eyes and unclear vision. Corticosteroid eyedrops are a favored remedy for eye ailments as they help decrease inflammation, thereby alleviating symptoms associated with redness, swelling, and discomfort. In May 2024, as indicated in a report by the Joint Strategic Needs Assessment, a community health center situated in the UK, an estimated 2 million UK residents suffer from some level of vision impairment, a figure that's expected to increase to 2.7 million by 2030. Consequently, the escalating occurrence of eye conditions is spurring the growth of the corticosteroid eyedrops market.
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What Are the Key Segments Driving Corticosteroid Eyedrops Market Growth?
The corticosteroid eyedrops market covered in this report is segmented -
1) By Product Type: Topical Corticosteroid Eyedrops, Systemic Corticosteroid Eyedrops, Combination Therapy Eyedrops
2) By Delivery Device: Dropper Bottles, Spray Formulations, Ointments And Gels, Punctal Plugs
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, Other Distribution Channels
4) By Application: Adult, Children
5) By End User: Hospitals, Specialty Clinics, Community Pharmacies, Online Pharmacies
Subsegments:
1) By Topical Corticosteroid Eyedrops: Prednisolone Acetate Eyedrops, Dexamethasone Eyedrops, Fluorometholone Eyedrops, Loteprednol Etabonate Eyedrops, Rimexolone Eyedrops
2) By Systemic Corticosteroid Eyedrops: Hydrocortisone-Based Eyedrops, Methylprednisolone-Based Eyedrops, Triamcinolone-Based Eyedrops, Betamethasone-Based Eyedrops
3) By Combination Therapy Eyedrops: Corticosteroid + Antibiotic Combination Eyedrops, Corticosteroid + Non-Steroidal Anti-Inflammatory Drug (NSAID) Eyedrops, Corticosteroid + Antihistamine Eyedrops, Corticosteroid + Antiglaucoma Agent Eyedrops
What Are the Technological Trends Impacting the Corticosteroid Eyedrops Market?
Companies in the corticosteroid eyedrops market are increasingly focusing on acquiring regulatory approvals to broaden their range of products and increase their market penetration. These approvals are official certifications provided by health authorities that assure that the corticosteroid eyedrops have met all necessary safety, quality and efficacy conditions before they are marketed or prescribed to patients. For example, Formosa Pharmaceuticals Inc., a company based in Taiwan, and AimMax Therapeutics, a US-based company, got FDA approval in March 2024 for a clobetasol propionate ophthalmic suspension 0.05% (APP13007), used for treating inflammation and pain post eye surgeries. It was developed using APNT nanoparticle technology by Formosa which allows the drug to be delivered effectively with a basic dosage of twice a day for 14 days, with no need for tapering. Clinical trials confirmed its high anti-inflammatory properties, making it a potential contender for corticosteroid treatments to manage post-surgery inflammation and pain in the eye. This is the first ocular corticosteroid consisting of clobetasol and also the first fresh steroid approved in this sector in over 15 years, marking a significant breakthrough in ocular corticosteroid treatment.
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Who Are the Major Competitors in the Global Corticosteroid Eyedrops Market?
Major companies operating in the corticosteroid eyedrops market are Pfizer Inc., AbbVie Inc., Novartis AG, Alcon Inc., Bausch Health Companies Inc., Sun Pharmaceutical Industries Ltd., Cipla Ltd., Santen Pharmaceutical Co. Ltd., Lupin Limited, Zydus Lifesciences Limited, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Sunways Pvt. Ltd., FDC Limited, Alimera Sciences Inc., Eurocrit Labs International Pvt. Ltd., Entod Pharmaceuticals Pvt. Ltd., Akorn Pharmaceuticals Inc., Pace Biotech Pvt. Ltd., Wellona Pharma Pvt. Ltd., Kala Pharmaceuticals Inc., Ophdenas Lifesciences Pvt. Ltd.
Which Region Dominates the Corticosteroid Eyedrops Market Share in 2025?
North America was the largest region in the corticosteroid eyedrops market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corticosteroid eyedrops market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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