How Has the Ophthalmic Drugs Market Evolved Historically and What is its Current Size?
The ophthalmic drugs market has seen considerable growth due to a variety of factors.
•In recent times, the market size for ophthalmic drugs has seen significant growth. There will be a rise from $39.36 billion in 2024 to $42.65 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%.
The growth witnessed in the historical period is due to a heightened occurrence of eye disorders, eye care research and development investments, lifestyle modifications, a worldwide increase in diabetes cases, and government-led vision care initiatives.
What is the Forecasted Market Size and CAGR for the Ophthalmic Drugs Market?
The ophthalmic drugs market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the market for ophthalmic drugs is projected to experience robust expansion, reaching "$57.4 billion by 2029 with a compound annual growth rate (CAGR) of 7.7%.
The predicted growth during this period can be credited to advancements in biopharmaceuticals, a rise in the incidence of myopia, growth of the elderly population, utilization of personalized medicine, and increased support from regulators for rare disease treatments. Key trends projected during this forecasting period include the emergence of biologics and gene therapies, enhanced emphasis on dry eye treatments, advancements in glaucoma management, the introduction of combination therapies, and a heightened focus on age-related macular degeneration (AMD).
What Are The Primary Growth Drivers In The Ophthalmic Drugs Market?
The escalation in the occurrence of eye-related ailments is anticipated to stimulate the expansion of the ophthalmic drug market in the future. These ophthalmic disorders represent any disease or disorder that affects the eyes and their associated parts, leading to vision impairment and other ocular issues. Ophthalmic medications are pharmaceutical drugs utilized in the treatment of vision-impairing conditions, which is why the increase in these disorders inherently boosts the demand for the ophthalmic drug market. For example, the Centers for Disease Control and Prevention (CDC), an agency governed by the US, reported in 2022 that 17.2% of Americans over the age of 40 will have a cataract in at least one eye, equating to about 20.5 million people. This increase in ophthalmic disorders is fueling the growth of the ophthalmic drug market.
What Is The Segmentation Of The Global 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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What Emerging Trends Are Shaping The Ophthalmic Drugs Market Landscape?
One trend that is gaining traction in the ophthalmic drug market is the product innovation. Major players in this sector are striving to create new solutions to cement their dominance in the marketplace. For instance, in January 2022, Sun Pharmaceutical Canada Inc., a Canadian firm specializing in the research and development of novel dermatological and ophthalmological medications, debuted their new ophthalmic drug, CEQUA (cyclosporine ophthalmic solution 0.09% w/v), which is meant to treat dry eye disease in Canada. With the inclusion of nano micellar (NCELL) technology, the drug promises enhanced ocular tissue penetration by increasing the bioavailability and physicochemical stability of cyclosporine.
Who Are the Key Players in the Ophthalmic Drugs Market?
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 are the Regional Insights into 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
