Global Ophthalmology Drugs Market Trends And Strategies Of Major Players In The Ophthalmology Drugs Market 2021-2030
19 Feb, 2021
The ophthalmology drugs market consists of sales of ophthalmology drugs and related services by entities (organizations, sole traders and partnerships) that produce ophthalmology drugs to treat eye related diseases. The ophthalmology drugs industry includes establishments that produce pharmaceutical drugs to treat glaucoma diseases, anti- inflammatory and tear stimulating drugs under dry eye medications drugs, and other drugs for treating retinal disorders and allergies. Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax.
Global Ophthalmology Drugs Market Size And Drivers:
The global ophthalmology drugs market is expected to decline from $24.64 billion in 2019 to $19.83 billion in 2020 at a compound annual growth rate (CAGR) of -19.5%. The market is then expected to recover and grow at a CAGR of 44.6% from 2021 and reach $33.27 billion in 2023. The market is expected to grow at a CAGR of 7.2% to nearly $38.22 billion by 2025, and at a CAGR of 7.0% to $53.69 billion by 2030.
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Trends In The Global Ophthalmology Drugs Market
Dry eye drug manufacturing companies are attempting to develop dry eye care products in various delivery systems to ensure improved patient compliance and usage along with profitability for the companies. Hence the introduction of new mode of delivery systems such as eye sprays for immediate comfort and improved patient compliance. Eye spray improves eyelids humidification, which serves as a substitute for people avoiding eye drops.
Global Ophthalmology Drugs Market Segments:
The global ophthalmology drugs market is further segmented based on drug type, prescription type, distribution channel, drug variation and geography.
By Drug Type:Antiglaucoma Drugs, Dry Eye Medication, Other Ophthalmology Drugs.
By Prescription Type:OTC Drugs, Prescription Drugs.
By Distribution Channel:Hospital Pharmacies, Eye Health Clinics, Retail Pharmacies, Online Pharmacies.
By Drug Variation:Branded Drugs, Generic Drugs.
By Geography:The global ophthalmology drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, North America is the largest share, accounting to 41% in the global ophthalmology drugs market.
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Ophthalmology Drugs Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides ophthalmology drugs market overviews, analyzes and forecasts market size and growth for the global ophthalmology drugs market, ophthalmology drugs market share, ophthalmology drugs market players, ophthalmology drugs market segments and geographies, ophthalmology drugs market’s leading competitors’ revenues, profiles and market shares. The ophthalmology drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.