Press release
Ophthalmic Suspension Market is Expected to Grow at a CAGR of About ~6.8% During The Forecast Period 2017-2023
Ophthalmic Suspension (eye drops) are medication used to treat eye redness, inflammation, irritation, and others. Generally, ophthalmic suspension is prepared keeping in mind the following properties like viscosity, tonicity, pH, sterility and others which helps the suspension (drops) to work more effectively for various eye disorders.
Ophthalmic suspension is an increasing market owing to increasing prevalence of eye disorders such as, glaucoma, age-related macular degeneration, diabetic retinopathy, etc. Moreover, there is a rising incidence of eye diseases globally such as dry eye, conjunctivitis, and others, and which will drive the market growth. Additionally, increasing geriatric population cases with eye disease boost the market growth.
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The global ophthalmic suspension market is expected to grow at a CAGR of about ~6.8% during the forecast period 2017-2023.
Taste the market data and market information presented through more than 115 market data tables and figures spread over 110 pages of the project report. Avail the in-depth table of content TOC & market synopsis on “ophthalmic suspension market research report–Global forecast till 2023.”
Major Players in the ophthalmic suspension Market
Some of the key players in the global market are Novartis AG (Alcon), ALLERGAN, Pfizer Inc., Merck & Co., Inc., Bausch & Lomb Incorporated, Falcon Group, Valeant, Bayer AG, and Genentech, Inc.
Regional Analysis
The global ophthalmic suspension market consists of four regions: the Americas, Europe, Asia Pacific, and the Middle East & Africa.
The Americas dominates the global ophthalmic suspension market. It comprises of two regions namely North America and South America. North America is the largest market owing to rising prevalence of eye disorders in the American counties and increasing geriatric population with eye related diseases. According to the National Eye Institute 2014 (US), around USD139 billion annual economic burden of vision loss, eye diseases and vision disorders in the U.S.
In Europe, wide demand for ophthalmic suspension to treat eye diseases drives the demand for ophthalmic suspension. Moreover, increasing expenditure in healthcare domain and investment in the research & development of new treatment methods for eye related diseases will fuel to the growth of the market.
Asia Pacific is the fastest growing and potential market for the ophthalmic suspension due to increasing number of ophthalmology clinics and rising prevalence of major eye disorder like glaucoma, diabetic retinopathy, refractive error, and others in the developing countries. Furthermore, government support and encouragement to healthcare domain, and favorable government policies for pharmaceuticals companies likely to drive the growth of this market over the review period.
The Middle East & Africa is expected witness least market share due to less development in healthcare services such as new and advanced treatment methods in healthcare domain.
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Segmentation
The global ophthalmic suspension market is segmented on the basis of type of content, which is segmented into antibiotic, antifungal, antibacterial, steroids, NSAIDs (non-steroidal anti-inflammatory drugs) and others.
the basis of application, it is segmented into bacterial infections, retinal disorders, glaucoma, allergies, diabetic eye disease, and others. Bacterial infection is further conjunctivitis, scleritis, and others. Retinal disorder is further segmented into macular degeneration, branch retinal vein occlusion, central retinal vein occlusion, congenital x-linked retinoschisis, and others.
the basis of end user, the market is segmented into hospitals, eye clinics, pharmacies, and others.
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