• According to Transparency Market Research’s latest report on the global Ophthalmic Drugs Market for the historical period 2017–2018 and forecast period 2019–2027, Rising adoption of newly developed therapeutics in ophthalmology, Increasing incidence rates of eye related disorders, Advanced retinal treatment approvals for unmet needs in eye disorders, Significant awareness about the diagnosis and treatment of eye disorders are projected to drive the global Ophthalmic Drugs Market during the forecast period
  • According to the report, the global Ophthalmic Drugs Market was valued at US$ 26.0 Bn in 2018 and is anticipated to expand at a CAGR of 4.1% from 2019 to 2027

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Rising adoption of newly developed therapeutics in ophthalmology: Key Drivers

  • As the number of FDA approvals for advanced therapeutics is increasing, the rate of adoption of these newly launched drugs is also rising exponentially.
  • In August 29 2016, Shire introduced Xiidra, a lymphocyte function-associated antigen-1 (LFA-1) antagonist, challenging Allergan’s Restasis, and a cyclosporine immunosuppressant. Both drugs are available at the same price level – around US$ 5,000.0 per year
  • Restasis gathered a revenue of US$ 1419.5 Mn in 2016, whereas Xiiadra earned US$ 54.0 Mn in just four months from its introduction. During October 2016, Xiiadra had 9,963 total prescriptions, up by 8.7% than the earlier week, compared to which Restasis prescriptions fell by 1.7% as compared to the prior week, which resulted in increase in Shire’s market share to 13.3% from 12.2% in the prior week.
  • Shire has set the sales target of US $726.0 Mn and US$ 1,140.0 Mn in 2017, and 2018, respectively. It is estimated to overcome Allergan’s market share in dry eye treatment with these statistics
  • A similar trend of significant new drug adoption is anticipated to be followed, and is projected to drive the expansion of the global ophthalmic drugs market

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Increasing incidence rates of eye related disorders Market Growth

  • There is an alarming rise in incidence of eye related diseases, especially in the developed countries, which is anticipated to drive the growth of the ophthalmic drugs market during 2017-2025
  • According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from 24.4 Mn in 2010, to 30.5 Mn by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 Mn in 2010 to 9.2 Mn in 2020
  • The patients for open angle glaucoma and AMD in U.S., were 2.7 Mn and 2.1 Mn, respectively, which are projected to increase to 3.3 Mn and 2.5 Mn, respectively, till 2020
  • The increasing patient pool in developing countries as well as developed regions is estimated to propel healthcare spending for eye treatments in each region and drive the growth of the ophthalmic drugs market.

Advanced retinal treatment approvals for unmet needs in eye disorders drive the market

  • Eye diseases such as chronic or recurrent uveitis, optic nerve, neurodegeneration retinitis pigmentosa, retinoblastoma, etc., lack an effective treatment option, and thus are categorized as unmet medical needs within the ophthalmologic diseases space
  • Several new entrants are dedicated to provide specialized treatment methods for eye diseases:
  • On May 18 2017, Spark Therapeutics, Inc. submitted the first and only Biological License Application to the U.S. FDA for the treatment of Leber’s congenital amaurosis by gene therapy
  • On March 25 2015, Regeneron Pharmaceuticals Inc., announced the approval of Eylea, the first VEGF inhibitor approved for dosing on a less than monthly basis for the treatment of diabetic macular edema
  • Severe inflammatory eye diseases, such as uveitis, lacked a solid treatment option earlier to the FDA approval of Humira for the indication of non-infectious intermediate, posterior, and panuveitis in adult patients
  • In June 2016, the U.S. FDA approved the first and only biologic approved drug, Humira, for the treatment of uveitis
  • Such approvals for advanced treatment options for the treatment of unmet medical needs in the field of eye disorders are projected to boost the expansion of the global ophthalmic drugs market

 Non-compliance with treatment to Hamper Market

  • Topical drug delivery methods are widely employed in case of ophthalmic drugs. The success rate of the medication depends upon the patient’s ability to comply with prescribed therapeutic treatment
  • Lack of knowledge, intolerance, misunderstanding, and denial are some reasons behind the non-compliance
  • As per a study published in American Academy of Ophthalmology, the overall non-compliance rate was around 50% for glaucoma, with lack of knowledge, misunderstanding, and denial accounting for more than 70% of the total non-compliance rate
  • Non-compliance with the treatment is not influenced by gender; however, it is dependent on the understanding of the patient about the drug administration method
  • Increasing non-compliance due to lack of knowledge is expected to restrain the expansion of the global ophthalmic drugs market

Side effects associated with ophthalmic drugs hamper the market

  • Abnormal vision, blurred vision, poor focusing ability, dry/irritated eyes, color perception changes, altered pupil size are common side effects associated with ophthalmic drugs
  • Some side effects such as itching of eyes or stinging sensation, allergic reaction, etc., can create serious health hazards, these side effects may restrain the expansion of the global ophthalmic drugs market

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Global Ophthalmic Drugs Market: Competitive Landscape

  • This report profiles major players in the global Ophthalmic Drugs Market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
  • The global Ophthalmic Drugs Market is highly fragmented, with the presence of a number of international as well as regional players
  • Leading players operating in the global Ophthalmic Drugs Market are
    • Aerie Pharmaceuticals, Inc.
    • ALLERGAN
    • Valeant Pharmaceuticals International, Inc.
    • Bayer AG
    • Genentech, Inc. (F. Hoffmann-La Roche Ltd.)
    • Novartis AG
    • Pfizer Inc.
    • Regeneron Pharmaceuticals, Inc.
    • Santen Pharmaceutical Co., Ltd.

Global Ophthalmic Drugs Market: Key Developments

Key players in the global Ophthalmic Drugs Market are engaged in regulatory approvals, technologically advancement of products, launch of new products, and collaborative agreements with other companies. These strategies are likely to fuel the growth of the global Ophthalmic Drugs Market. A few expansion strategies adopted by players operating in the global Ophthalmic Drugs Market are:

  • In February 2017, Valeant Pharmaceuticals International, Inc. and EyeGate Pharmaceuticals, Inc. entered into licensing agreement for the research, commercialization and manufacturing of EyeGate II Delivery System and EGP-437 combination product candidate for the treatment of post-operative pain and inflammation in ocular surgery patients. Such licensing and collaboration agreements are anticipated to strengthen the company’s product portfolio during the forecast period.
  • In February 2017, Pfizer Inc. partnered with the Ophthalmological Society of Nigeria (OSN) and the South East Ophthalmologist’s Forum (SEOF) for the glaucoma awareness campaign in five south eastern states of Nigeria. The company is committed to contributing positively to patient care, and aims at reducing the burden of irreversible eye disease like glaucoma.
  • In May 2017, Shire entered into a collaborative agreement with Parion Sciences, Inc. to exclusively develop and commercialize P-321, an investigational epithelial sodium channel (ENaC) inhibitor for the treatment of dry eye disease

The report on the global Ophthalmic Drugs Market discussed individual strategies, followed by company profiles of manufacturers of oral contraceptive pills. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global Ophthalmic Drugs Market.

TMR’s report on the global Ophthalmic Drugs Market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global Ophthalmic Drugs Market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global Ophthalmic Drugs Market during the forecast period.

The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global Ophthalmic Drugs market.

Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global Ophthalmic Drugs market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global Ophthalmic Drugs market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global Ophthalmic Drugs market.

The report delves into the competitive landscape of the global Ophthalmic Drugs market. Key players operating in the global Ophthalmic Drugs Market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global Ophthalmic Drugs Market that have been profiled in this report.

Key Questions Answered in Global Ophthalmic Drugs Market Report

  • What is the scope of growth of product companies in the global Ophthalmic Drugs market?
  • What will be the Y-o-Y growth of the global Ophthalmic Drugs Market between 2019 and 2027?
  • What is the influence of changing trends in technologies on the global Ophthalmic Drugs market?
  • Will North America continue to be the most profitable market for Ophthalmic Drugs providers?
  • Which factors are anticipated to hamper the growth of the global Ophthalmic Drugs Market during the forecast period?
  • Which are the leading companies in the global Ophthalmic Drugs market?
  • Research Methodology

A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global Ophthalmic Drugs Market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.

Secondary methods referred to by analysts during the production of the global Ophthalmic Drugs Market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the Ophthalmic Drugs Market as primary methods.

These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the Ophthalmic Drugs Market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global Ophthalmic Drugs Market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching TMR’s estimates on future prospects of the global Ophthalmic Drugs Market more reliably and accurately.

Regional Segmentation of Ophthalmic Drugs Market

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Global Ophthalmic Drugs Market - Segmentation

Product Type

Prescription Drugs

OTC Drugs

Therapeutic Class

Anti-inflammatory Drugs

  • NSAIDs
  • Steroids

Anti-infective Drugs

  • Anti-fungal Drugs
  • Anti-bacterial Drugs
  • Others

Anti-glaucoma Drugs

  • Alpha Agonist
  • Beta Blockers
  • Prostaglandin Analogs
  • Combined Medication
  • Others

Anti-allergy Drugs

  • Anti-VEGF Agents
  • Others

Disease Indication

Dry Eye

Glaucoma

Infection/ Inflammation

Retinal Disorders

  • Wet AMD
  • Dry AMD
  • Diabetic Retinopathy
  • Others

Allergy

Uveitis

Others

Distribution Channels

Hospital Pharmacies

Online Pharmacies

Independent Pharmacies & Drug Stores

Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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