+1-518-618-1030 866 - 552 - 3453 USA-Canada Toll Free

Global Ophthalmic Drugs Market: Growth to be Strong in Light of Development of Combination Therapy, reports TMR

Posted on Dec 07, 2016

The global ophthalmic drug market is characterized by constant product launches by key players. Mergers and acquisitions is another most common tactic employed by players in this industry in order to increase their market share. Thus, the market is consolidated. In 2012, key players such as Novartis (Alcon), Allergan, Pfizer, Roche, Merck, and Santen accounted for 70% of the global ophthalmic drug market. The threat of substitutes is expected to be high owing to factors such as presence of generic drugs and surgical procedures. The availability of low cost generic drugs is adversely affecting the demand for ophthalmic drugs, states a new report by Transparency Market Research (TMR). The degree of competition is expected to be medium on account of the increasing rivalry among players due to low cost of switching for buyers.

According to the report, the ophthalmic drugs market is expected to be worth US$21,696.3 mn by 2018. On the basis of geography, North America is likely to lead and be worth US$9,079.9 mn by 2018. Asia Pacific is also expected to experience a high growth in the coming years owing ti a rising geriatric population and growing prevalence of ophthalmic disorders among them. On the basis of treatment drugs, the anti-glaucoma segment is expected to lead in the market and is estimated to be worth US$6,639.2 mn. By type, the market is expected to be led by prescription drugs. The segment not only led in the past but will continue to do so through 2018, and is expected to be worth US$13,637.0 mn by 2018. The segment will also expand at the maximum pace during the forecast period.

Government Initiatives to Create Awareness to Drive Ophthalmic Drugs Market

The growing prevalence of eye disorders is one of the key factors driving the global ophthalmic drugs market. According to WHO, 7 mn people across the globe are becoming blind every year. The people in Southeast Asia and Eastern Mediterranean have the highest number of visually impaired people. This in turn is driving the demand for ophthalmic drugs. The growing geriatric population is also playing a key role in the growth of the global ophthalmic drugs market. Eye disorders are likely to increase with age and thus, aging population acts as driver. Another key factor driving the global ophthalmic drugs market is the increased government initiatives to create a heightened awareness regarding eye diseases. In addition to this, increased government spending in the healthcare sector will also boost the global ophthalmic drugs market.

Drying Pipeline of Ophthalmic Drugs to Hamper Growth of Market

The global ophthalmic drugs market faces several challenges such as patent expiration coupled with drying pipeline of drugs. The FDA approval for new molecules is dropping since many years and this is resulting in the drying up of the pipeline. The low availability of any new drugs is affecting the growth of the ophthalmic drugs market. A lack of awareness among people regarding various eyes disorders is also impacting the overall market. “Moreover, many people across developing nations do not have health insurance and as such, do not have access to primary healthcare services owing to their poor economic conditions,” says a TMR analyst. This is another reason restraining the demand for ophthalmic drugs.

On a positive side, players in the global ophthalmic drugs market are now focusing on combination therapy, where more than one medication is used for retinal disorders and this will be helpful for patients with high intraocular pressure. With several benefits such as reduced frequency of drug application and improved efficiency, combination therapy is expected to act as growth opportunity for the global ophthalmic drugs market.

This information is based on the findings of a report published by Transparency Market Research titled “Ophthalmic Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2018.”

The global ophthalmic drugs market is segmented into: 

By Types

  • Prescription Drugs
  • OTC Drugs

By Treatment Drugs

  • Dry Eye Drugs
  • Retinal Drugs
  • Anti-inflammatory/allergy/infective Drugs
  • Anti-glaucoma Drugs

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (RoW) 

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

Back To Top