The ophthalmic drugs market is projected to grow at a CAGR of 6.32% to reach US$47.428 billion by 2025, from US$32.267 billion in 2019. Rising cases of serious eye diseases are pushing the pharmaceutical companies to launch better and enhanced drugs to cater to the increasing demand among the patients for better and more effective treatment.
According to the World Health Organisation (WHO) Statistics presented in the Blindness and Vision Impairment 2019, about 2.2 billion people are suffering from vision impairment or blindness. Out of the 2.2 billion, at least 1 billion people suffer from a vision impairment that could be prevented or are not addressed. The majority of the people are over the age of 50 years. Moreover, there is a rise in the prevalence of eye diseases such as Wet AMD, which is a chronic disease that is caused due to the excess of VEGF, a protein that is responsible for promoting the growth of abnormal blood vessels under the macula (which is an area of the retina that aids in the sharp and clear vision). So, when the fluid leaks out of these blood vessels and hinders the vision, then there is a requirement of drugs that inhibit the VEGF and suppress the growth of abnormal blood vessels. In addition, the rise in diseases such as glaucoma in the rising geriatric population is also a factor that is leading to increased demand for ophthalmic products and augmenting the market growth.
The presence of stringent packaging restrictions, which the market players have to strictly and must adhere to, in order to avoid the imposition of penalties
There are stringent measures with regards to the packaging of the ophthalmic products in terms of colored caps and drug labeling. The yellow and blue-capped ophthalmic drugs are to be labeled as B blockers, red-capped ophthalmic drugs are to be labeled as Mydriatics and cycloplegics. There are also green-capped ophthalmic drugs that are to be labeled as Miotics, orange capped are labeled as Carbonic anhydrase inhibitors, brown capped are to be labeled as Anti-infective agents and the gray and pink capped products are to be labeled as Non-Steroidal Anti-Inflammatory Drugs and Steroids respectively.
Major Market Developments
The launch of better-equipped and new and enhanced varieties of ophthalmic drugs in order to cater to the increases cases of serious diseases and rare diseases by existing and new players in different markets is expected to propel the growth of this market in the forecast period.
Some of the examples of the product offerings are as follows:
Recently in January 2020, Horizon, one of the leading pharmaceutical companies dealing in the provision, announced that their new drug TEPEZZA (teprotumumab-trbw), which has been developed for the treatment of Thyroid Eye Disease (TED) has been approved by the FDA. This disease is a progressive, rare and autoimmune disease, which can be vision threatening and is associated with proptosis (eye bulging) and diplopia (double vision), blurred vision, and pain among other problems. This is a type of a fully human monoclonal antibody (mAb) and a targeted inhibitor of the insulin-like growth factor-1 receptor (IGF-1R), that needs to be provided to the patients once in three weeks, for a total of eight infusions.
In October 2019, Sun Pharmaceutical Industries Inc., one of the leading pharmaceutical companies, based in India announced that their new ophthalmic drug called “Cequa” has been commercialized. The drug is able to facilitate an increase in the tear production in the patients that are suffering from Keratoconjuncticits Sicca (dry eye), which is an inflammatory disease, that is said to affect around more than 16 million U.S. individuals. The drug was approved in 2018, by the Food and Drug Administration (FDA) and was supposed to launch in around March 2019, but was delayed until October. The drug developed is an improvement to the existing drug Restasis.
In October 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development, announced that they have received an FDA approval for their ophthalmology drug “Beovu” (brolucizumab) injection. This drug has been developed for the purpose of treating wet age-related macular degeneration (AMD). This drug, which has been approved by the FDA is such an anti-VEGF drug that is able to offer both greater fluid resolution in comparison to aflibercept and the ability to maintain eligible patients suffering from the dosing interval of three months, with making a compromise of the efficacy.
In July 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development announced that their drug “Lucentis” (ranibizumab) has been recommended for approval for the treatment of preterm infants with retinopathy of prematurity (ROP) by the Committee for Medical Products for Human Use (CHMP) of the European Medicines Agency (EMA). ROP is a rare eye disease but it is one of the leading causes of childhood blindness.
The North American and European region to hold a considerable share over the forecast period
The North American region is estimated to hold a considerable share over the forecast period, which is attributable to the fact that the pharmaceutical industry is flourishing facilitated by the influx of investments. Moreover, with research and development activities are being carried out to improve and enhance the ophthalmic drugs and provide a boost to the market growth.
OTC drugs are being made easily available by market players, which is going to contribute to the market share of OTC’s over the forecast period
Some of the major market players are involved in the provision of ophthalmic drugs that can be purchased over the counter. Bausch & Lomb and Sentiss provide a range of products such as drops and ointments for eye problems, that is able to provide temporary relief for occasional and frequent users alike.
Solution and suspension is expected to hold a significant share and show considerable growth over the forecast period.
Solution and Suspension ophthalmic products are most commonly used in eye care, as they do not hamper the vision, can be instilled easily and are less likely to cause any complications.
Segmentation:
By Indication
By Product type
By Drug Form
By Drug Class
By Delivery Method
By Distribution Channel
By Geography
According to the World Health Organisation (WHO) Statistics presented in the Blindness and Vision Impairment 2019, about 2.2 billion people are suffering from vision impairment or blindness. Out of the 2.2 billion, at least 1 billion people suffer from a vision impairment that could be prevented or are not addressed. The majority of the people are over the age of 50 years. Moreover, there is a rise in the prevalence of eye diseases such as Wet AMD, which is a chronic disease that is caused due to the excess of VEGF, a protein that is responsible for promoting the growth of abnormal blood vessels under the macula (which is an area of the retina that aids in the sharp and clear vision). So, when the fluid leaks out of these blood vessels and hinders the vision, then there is a requirement of drugs that inhibit the VEGF and suppress the growth of abnormal blood vessels. In addition, the rise in diseases such as glaucoma in the rising geriatric population is also a factor that is leading to increased demand for ophthalmic products and augmenting the market growth.
The presence of stringent packaging restrictions, which the market players have to strictly and must adhere to, in order to avoid the imposition of penalties
There are stringent measures with regards to the packaging of the ophthalmic products in terms of colored caps and drug labeling. The yellow and blue-capped ophthalmic drugs are to be labeled as B blockers, red-capped ophthalmic drugs are to be labeled as Mydriatics and cycloplegics. There are also green-capped ophthalmic drugs that are to be labeled as Miotics, orange capped are labeled as Carbonic anhydrase inhibitors, brown capped are to be labeled as Anti-infective agents and the gray and pink capped products are to be labeled as Non-Steroidal Anti-Inflammatory Drugs and Steroids respectively.
Major Market Developments
The launch of better-equipped and new and enhanced varieties of ophthalmic drugs in order to cater to the increases cases of serious diseases and rare diseases by existing and new players in different markets is expected to propel the growth of this market in the forecast period.
Some of the examples of the product offerings are as follows:
Recently in January 2020, Horizon, one of the leading pharmaceutical companies dealing in the provision, announced that their new drug TEPEZZA (teprotumumab-trbw), which has been developed for the treatment of Thyroid Eye Disease (TED) has been approved by the FDA. This disease is a progressive, rare and autoimmune disease, which can be vision threatening and is associated with proptosis (eye bulging) and diplopia (double vision), blurred vision, and pain among other problems. This is a type of a fully human monoclonal antibody (mAb) and a targeted inhibitor of the insulin-like growth factor-1 receptor (IGF-1R), that needs to be provided to the patients once in three weeks, for a total of eight infusions.
In October 2019, Sun Pharmaceutical Industries Inc., one of the leading pharmaceutical companies, based in India announced that their new ophthalmic drug called “Cequa” has been commercialized. The drug is able to facilitate an increase in the tear production in the patients that are suffering from Keratoconjuncticits Sicca (dry eye), which is an inflammatory disease, that is said to affect around more than 16 million U.S. individuals. The drug was approved in 2018, by the Food and Drug Administration (FDA) and was supposed to launch in around March 2019, but was delayed until October. The drug developed is an improvement to the existing drug Restasis.
In October 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development, announced that they have received an FDA approval for their ophthalmology drug “Beovu” (brolucizumab) injection. This drug has been developed for the purpose of treating wet age-related macular degeneration (AMD). This drug, which has been approved by the FDA is such an anti-VEGF drug that is able to offer both greater fluid resolution in comparison to aflibercept and the ability to maintain eligible patients suffering from the dosing interval of three months, with making a compromise of the efficacy.
In July 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development announced that their drug “Lucentis” (ranibizumab) has been recommended for approval for the treatment of preterm infants with retinopathy of prematurity (ROP) by the Committee for Medical Products for Human Use (CHMP) of the European Medicines Agency (EMA). ROP is a rare eye disease but it is one of the leading causes of childhood blindness.
The North American and European region to hold a considerable share over the forecast period
The North American region is estimated to hold a considerable share over the forecast period, which is attributable to the fact that the pharmaceutical industry is flourishing facilitated by the influx of investments. Moreover, with research and development activities are being carried out to improve and enhance the ophthalmic drugs and provide a boost to the market growth.
OTC drugs are being made easily available by market players, which is going to contribute to the market share of OTC’s over the forecast period
Some of the major market players are involved in the provision of ophthalmic drugs that can be purchased over the counter. Bausch & Lomb and Sentiss provide a range of products such as drops and ointments for eye problems, that is able to provide temporary relief for occasional and frequent users alike.
Solution and suspension is expected to hold a significant share and show considerable growth over the forecast period.
Solution and Suspension ophthalmic products are most commonly used in eye care, as they do not hamper the vision, can be instilled easily and are less likely to cause any complications.
Segmentation:
By Indication
- Dry Eye
- Glaucoma
- Infection/Inflammation/Allergies
- Retinal Problems
- Others
By Product type
- OTC Drug
- Prescription Drug
By Drug Form
- Liquid
- Semi-Solid
- Solid
By Drug Class
- Anti-Inflammatory
- Anesthetic
- Anti-Allergy
- Others
By Delivery Method
- Local
- Topical
- Intravitreous
- Sub-conjunctival
- Others
- Systematic
By Distribution Channel
- Online
- Offline
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Spain
- Others
- Middle East and Africa
- Saudi Arabia
- UAE
- Israel
- Others
- Asia Pacific
- Japan
- China
- India
- Others
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Ophthalmic Drugs Market Analysis, by Indication
6. Ophthalmic Drugs Market Analysis, by Product Type
7. Ophthalmic Drugs Market Analysis, by Drug Form
8. Ophthalmic Drugs Market Analysis, by Drug Class
9. Ophthalmic Drugs Market Analysis, by Delivery Method
10. Ophthalmic Drugs Market Analysis, by Distribution Channel
11. Ophthalmic Drugs Market Analysis, by Geography
12. Competitive Environment and Analysis
13. Company Profiles
Companies Mentioned
- Sun Pharmaceutical Industries, Inc.
- Horizon Therapeutics plc
- ALLERGAN
- Otsuka Pharmaceutical Co., Ltd.
- Alcon Inc.
- Mundipharma International
- F. Hoffmann-La Roche Ltd
- Novartis AG
- Zydus Cadila
- Sentiss Pharma Pvt. Ltd.
- Santen Pharmaceutical Co., Ltd
- Mallinckrodt Pharmaceuticals
- Bausch & Lomb
- Regeneron Pharmaceuticals, Inc.
- Aerie Pharmaceuticals, Inc
Methodology
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