The global ophthalmic disease therapeutics market size was estimated to be USD 35.74 billion in 2023 and is expected to reach at USD 71.38 billion by 2034 with a CAGR of 6.49% during the forecast period 2024-2034. Increasing prevalence of ophthalmic disease, growing research & development activities, rising focus on the development of novel therapies, surge in partnerships & collaborations within market players, increasing awareness among general population regarding the ocular conditions, growing healthcare expenditure, rising introduction of novel drugs, and surge in regulatory approval of novel therapeutics for ophthalmic disease are some of the key factors boosting the market growth.
Surge in regulatory approval of novel therapeutics for ophthalmic disease is predicted to boost the market growth during the forecast period. Ophthalmic disease therapeutics encompass drugs and therapies designed for treating various ocular conditions, including glaucoma, dry eye disease, retinal diseases, and others. The growing prevalence of these conditions in the population, coupled with the increasing healthcare burden they impose, is anticipated to drive the demand for innovative therapies and approaches in managing these diseases. For instance, in March 2022, The U.S. FDA has granted approval to Johnson & Johnson Services Inc for ACUVUE Theravision with Ketotifen, heralded as the world's inaugural and singular drug-eluting contact lens.
By drug class, anti-inflammatory was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the patient population receiving treatment for ocular allergies and inflammation is on the rise, surge in prevalence of glaucoma, market players are intensifying their research & development efforts, and growing introduce anti-glaucoma therapies to meet the rising demand among the patient population. Additionally, anti-VEGF is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of retinal disorders, including diabetic retinopathy, age-related macular degeneration, & others, rising diagnosis rate of these conditions among the population, growing demand for anti-VEGF therapy, and increasing number of approvals & launches of products in this therapeutic area. For instance, in January 2022, Genentech, Inc., a subsidiary of F. Hoffmann-La Roche Ltd., has obtained approval from the U.S. FDA for Vabysmo, a vascular endothelial growth factor, designed for the treatment of wet or neovascular age-related macular degeneration and diabetic macular edema.
By dosage form, semisolid was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the growing number of approvals & launches of products such as ointments, suspensions, gels, and others, increased effectiveness of ointments, particularly in addressing inflammatory conditions, infections, & dry eyes, and rising adoption of semisolid products in this context. Additionally, liquid is predicted to grow at fastest CAGR during the forecast period owing to a growing adoption of eye drops, eye solutions, & similar products among the patient population, rising prevalence of ophthalmic conditions, increasing number of patients undergoing treatment, and surge in regulatory approvals. For instance, in September 2022, Omlonti (omidenepag isopropyl ophthalmic solution) 0.002% eye drops have received FDA clearance thanks to a collaboration between Santen Pharmaceutical Co., Ltd. and UBE. This approval is for the reduction of elevated intraocular pressure (IOP) in patients diagnosed with primary open-angle glaucoma or ocular hypertension.
By disease indication, retinal diseases was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the increasing prevalence of retinal diseases, such as diabetic macular edema, macular degeneration, diabetic retinopathy, & others, in the population is leading to a higher diagnosis rate of these conditions, the rise in initiatives aimed at increasing awareness about these diseases is contributing to a growing demand for therapeutic products. Additionally, dry eye disease is predicted to grow at fastest CAGR during the forecast period owing to the growing focus among key players to develop and introduce drugs for the treatment of the condition. For instance, in November 2022, In Japan, Santen Pharmaceutical Co., Ltd. has launched DIQUAS LX Ophthalmic Solution 3% to treat dry eye.
By distribution channel, retail & online pharmacies was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the increasing number of patients seeking treatment for different eye diseases at ophthalmology clinics, increase in the number of digital users, and patients in both developed and emerging countries are showing a preference for procuring medications online. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the increase in inpatient admissions to hospitals, a growing procurement of drugs from hospital pharmacies, and a surge in regulatory approvals. For instance, in March 2022, Novartis AG has been granted approval by the European Commission for Beovu, an ophthalmic medicine designed for the treatment of visual impairment caused by diabetic macular edema.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of various ophthalmic disorders, coupled with higher rates of diagnosis and treatment, is being supported by a rise in healthcare expenditure dedicated to eye care and eye health. Adequate reimbursement for various ophthalmic disorders is promoting the adoption of advanced and novel treatments. Additionally, there is a surge in research and development efforts for various innovative drugs to treat ophthalmic diseases, leading to a growing number of drug approvals. For instance, In June 2022, F. Hoffmann-La Roche Ltd. has received authorization from Health Canada for Vabysmo. This approval is for the treatment of neovascular (wet) Age-related Macular Degeneration (AMD) and Diabetic Macular Edema (DME). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increased introduction of biologics and biosimilars designed for treating diverse eye diseases, a growing focus on effectively managing ophthalmic conditions, the continual release of new products, a rising prevalence of the geriatric population susceptible to various eye-related conditions, heightened awareness among patients about novel treatments, and a rise in collaborations among industry players. For instance, in May 2022, Visus Therapeutics, Inc., a company dedicated to developing ophthalmic therapies, has entered into a collaboration with Zhaoke Ophthalmology Limited. The partnership aims to commercialize BRIMOCHOL PF and Carbachol PF in the Greater China, South Korea, and select Southeast Asian territories. These preservative-free eye drops are indicated for the correction of vision associated with presbyopia.
Surge in regulatory approval of novel therapeutics for ophthalmic disease is predicted to boost the market growth during the forecast period. Ophthalmic disease therapeutics encompass drugs and therapies designed for treating various ocular conditions, including glaucoma, dry eye disease, retinal diseases, and others. The growing prevalence of these conditions in the population, coupled with the increasing healthcare burden they impose, is anticipated to drive the demand for innovative therapies and approaches in managing these diseases. For instance, in March 2022, The U.S. FDA has granted approval to Johnson & Johnson Services Inc for ACUVUE Theravision with Ketotifen, heralded as the world's inaugural and singular drug-eluting contact lens.
By drug class, anti-inflammatory was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the patient population receiving treatment for ocular allergies and inflammation is on the rise, surge in prevalence of glaucoma, market players are intensifying their research & development efforts, and growing introduce anti-glaucoma therapies to meet the rising demand among the patient population. Additionally, anti-VEGF is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of retinal disorders, including diabetic retinopathy, age-related macular degeneration, & others, rising diagnosis rate of these conditions among the population, growing demand for anti-VEGF therapy, and increasing number of approvals & launches of products in this therapeutic area. For instance, in January 2022, Genentech, Inc., a subsidiary of F. Hoffmann-La Roche Ltd., has obtained approval from the U.S. FDA for Vabysmo, a vascular endothelial growth factor, designed for the treatment of wet or neovascular age-related macular degeneration and diabetic macular edema.
By dosage form, semisolid was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the growing number of approvals & launches of products such as ointments, suspensions, gels, and others, increased effectiveness of ointments, particularly in addressing inflammatory conditions, infections, & dry eyes, and rising adoption of semisolid products in this context. Additionally, liquid is predicted to grow at fastest CAGR during the forecast period owing to a growing adoption of eye drops, eye solutions, & similar products among the patient population, rising prevalence of ophthalmic conditions, increasing number of patients undergoing treatment, and surge in regulatory approvals. For instance, in September 2022, Omlonti (omidenepag isopropyl ophthalmic solution) 0.002% eye drops have received FDA clearance thanks to a collaboration between Santen Pharmaceutical Co., Ltd. and UBE. This approval is for the reduction of elevated intraocular pressure (IOP) in patients diagnosed with primary open-angle glaucoma or ocular hypertension.
By disease indication, retinal diseases was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the increasing prevalence of retinal diseases, such as diabetic macular edema, macular degeneration, diabetic retinopathy, & others, in the population is leading to a higher diagnosis rate of these conditions, the rise in initiatives aimed at increasing awareness about these diseases is contributing to a growing demand for therapeutic products. Additionally, dry eye disease is predicted to grow at fastest CAGR during the forecast period owing to the growing focus among key players to develop and introduce drugs for the treatment of the condition. For instance, in November 2022, In Japan, Santen Pharmaceutical Co., Ltd. has launched DIQUAS LX Ophthalmic Solution 3% to treat dry eye.
By distribution channel, retail & online pharmacies was the highest revenue-grossing segment in the global ophthalmic disease therapeutics market in 2023 owing to the increasing number of patients seeking treatment for different eye diseases at ophthalmology clinics, increase in the number of digital users, and patients in both developed and emerging countries are showing a preference for procuring medications online. Additionally, hospital pharmacies is predicted to grow at fastest CAGR during the forecast period owing to the increase in inpatient admissions to hospitals, a growing procurement of drugs from hospital pharmacies, and a surge in regulatory approvals. For instance, in March 2022, Novartis AG has been granted approval by the European Commission for Beovu, an ophthalmic medicine designed for the treatment of visual impairment caused by diabetic macular edema.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of various ophthalmic disorders, coupled with higher rates of diagnosis and treatment, is being supported by a rise in healthcare expenditure dedicated to eye care and eye health. Adequate reimbursement for various ophthalmic disorders is promoting the adoption of advanced and novel treatments. Additionally, there is a surge in research and development efforts for various innovative drugs to treat ophthalmic diseases, leading to a growing number of drug approvals. For instance, In June 2022, F. Hoffmann-La Roche Ltd. has received authorization from Health Canada for Vabysmo. This approval is for the treatment of neovascular (wet) Age-related Macular Degeneration (AMD) and Diabetic Macular Edema (DME). Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increased introduction of biologics and biosimilars designed for treating diverse eye diseases, a growing focus on effectively managing ophthalmic conditions, the continual release of new products, a rising prevalence of the geriatric population susceptible to various eye-related conditions, heightened awareness among patients about novel treatments, and a rise in collaborations among industry players. For instance, in May 2022, Visus Therapeutics, Inc., a company dedicated to developing ophthalmic therapies, has entered into a collaboration with Zhaoke Ophthalmology Limited. The partnership aims to commercialize BRIMOCHOL PF and Carbachol PF in the Greater China, South Korea, and select Southeast Asian territories. These preservative-free eye drops are indicated for the correction of vision associated with presbyopia.
Segmentation: Ophthalmic Disease Therapeutics Market Report 2023 - 2034
Ophthalmic Disease Therapeutics Market Analysis & Forecast by Drug Class 2023 - 2034 (Revenue USD Bn)
- Anti-VEGF
- Anti-Infectives
- Anti-Inflammatory
- Anti-Glaucoma
- Others
Ophthalmic Disease Therapeutics Market Analysis & Forecast by Dosage Form 2023 - 2034 (Revenue USD Bn)
- Semisolid
- Solid
- Liquid
Ophthalmic Disease Therapeutics Market Analysis & Forecast by Disease Indication 2023 - 2034 (Revenue USD Bn)
- Retinal Diseases
- Glaucoma
- Allergy & Infections
- Dry Eye Disease
- Others
Ophthalmic Disease Therapeutics Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Retail & Online Pharmacies
- Hospital Pharmacies
Ophthalmic Disease Therapeutics Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Ophthalmic Disease Therapeutics Market: Drug Class Estimates & Trend Analysis
8. Ophthalmic Disease Therapeutics Market: Dosage Estimates & Trend Analysis
9. Ophthalmic Disease Therapeutics Market: Disease Indication Estimates & Trend Analysis
10. Ophthalmic Disease Therapeutics Market: Distribution Channel Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Ophthalmic Disease Therapeutics Market
13. Europe Global Ophthalmic Disease Therapeutics Market
14. Asia Pacific Global Ophthalmic Disease Therapeutics Market
15. Latin America Global Ophthalmic Disease Therapeutics Market
16. MEA Global Ophthalmic Disease Therapeutics Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Santen Pharmaceutical Co. Ltd.
- Regeneron Pharmaceuticals Inc.
- F. Hoffmann-La Roche Ltd.
- Viatris Inc.
- Novartis AG
- Bayer AG
- AbbVie Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 35.74 Billion |
| Forecasted Market Value ( USD | $ 71.38 Billion |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 7 |
