Ophthalmic Drugs Market is Projected to Grow at A CAGR of 5.2% During, 2020-2026

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OVERVIEW

Ophthalmic Drugs Market was valued at $30.7 billion in 2019 with a CAGR of 5.2% from 2020 to 2026.

Ophthalmic drugs are used to treat the eye-related disorder, including dry eye, glaucoma, infection/inflammation, retinal disorders, and others. The ophthalmic drugs are available in the form of capsules & tablets, gels, eye drops, and eye ointment.

Increasing regulatory approval for ophthalmic drugs is boosting the global ophthalmic drugs market. For instance, the U.S. Food and Drug Administration (FDA) has approved Tepezza (teprotumumab-trbw) for the treatment of adults with thyroid eye disease. Tepezza was the first drug approved for the treatment of thyroid eye disease. Additionally, Novartis has received the U.S. Food and Drug Administration (FDA) approval for Beovu (brolucizumab) injection is also known as RTH258 for the treatment of wet age-related macular degeneration (AMD). Beovu is the first FDA approved anti-VEGF to provide greater fluid resolution versus aflibercept and has the ability to maintain eligible wet age-related macular degeneration patients on a three-month dosing interval after a three-month loading phase. Further, the rising prevalence of eye-related disorders is a key driving factor of the market.

Anti-Inflammatory Drugs, Anti-Infective Drugs, Anti-Glaucoma Drugs, Anti-Allergy Drugs, Anti-VEGF Agents, and Others is the type segment of the market scope. By application, the market is divided into Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders, and Others. By drug delivery types, the market is further divided into Capsules & Tablets, Gels, Eye Drops, And Eye Ointment. The report covers value of the global market by type, application and drug delivery types.

Anti-VEGF Agents was dominating the global ophthalmic drugs market in 2019, owing to the increasing commercialization of regulatory approved Anti-VEGF Agents, the collaboration between companies to develop Anti-VEGF Agents ophthalmic drugs, and increasing clinical studies on developing Anti-VEGF Agents ophthalmic drugs.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global ophthalmic drugs value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global ophthalmic drugs market in 2019, due to the increasing commercialization of ophthalmic drugs, government support for the development of ophthalmic drugs, and rising prevalence of eye-related disorders. Moreover, increasing regulatory approval for ophthalmic drugs is a key driving factor of the market.

Major players operating in the ophthalmic drugs industry include Pfizer, Novartis, Bausch Health, Teva Pharmaceutical, Allergan, Mylan, Santen Pharmaceutical, Johnson & Johnson, APOTEX, Jamp Pharma, Senju Pharmaceutical, Sun Pharmaceutical, Horizon Therapeutics, Nicox S.A., and Aerie Pharmaceuticals, Inc.

The increasing regulatory approval of ophthalmic drugs, rising clinical studies on ophthalmic drugs, increasing research and development facilities for ophthalmic drugs, increasing investment for the development and commercialization of ophthalmic drugs, and commercialization of new ophthalmic drugs are some of the strategies adopted by the major companies.