Ophthalmic Drugs Market to be Worth $65.6 Billion by 2030: Million Insights

FELTON, Calif., Jan. 18, 2023 /PRNewswire/ -- The global ophthalmic drugs market size was USD 33.5 billion in 2021 which is projected to expand at a CAGR of 7.7% and reach USD 65.6 billion by 2030. Factors driving the market growth include the introduction of ophthalmic drugs through research and development (R&D), the implementation of strategies for meeting the needs of ophthalmology, and an increase in blindness and visual impairment.

Key Industry Insights & Findings from the report:

• Based on drug class insights, the anti-VEGF segment dominated the market with the largest revenue share of 31.5% in 2021 owing to rising demand and the adoption of anti-VEGF agents along with the rise in leading companies.

• Based on disease insights, the retinal disorder segment upheld the market with a 34.8% revenue share in 2021 due to a huge surge in diabetic retinopathy, macular degeneration, and fund for the expansion of treatment.

• Based on dosage form insights, the eye drops segment dominated the market with the largest revenue share of 39.3% in 2021 because of the accessibility of eye drops to overcome eye disorders with the implementation of novel technology.

• Based on product type insights, the prescription drugs segment upheld the market with the largest revenue share of 59.1% in 2021 owing to the provision of efficacy and safety with the usage of prescription drugs to combat disorders.

• Based on the route of administration insights, the topical route of administration dominated the market in 2021 and is expected to expand in the forecast period due to convenience dosage, patient compliance factors, and organizational strategies.

• Based on regional insights, North America dominated the market with a 39.3% revenue share in 2021 owing to rising awareness of eye disorders through R&D.

Read 150 page full market research report for more Insights, "Ophthalmic Drugs Market Size, Share & Trends Analysis Report By Drug Class, By Disease, By Dosage Form, By Route of Administration, By Product Type, By Region And Segment Forecasts From 2022 To 2030", published by Million Insights.

Ophthalmic Drugs Market Growth & Trends

According to the World Health Organization report of October 2021, 2.2 billion patients suffered from visual impairment out of which 1 billion cases can be diagnosed with the use of ophthalmic drugs. The COVID-19 outbreak severely impacted the market since a decline was observed in terms of clinical visits, visual check-ups, surgical procedures, and medications by 92.52%, 93.84%, 72.74%, and 19.63%. Owing to lockdown restrictions by governments globally, a reduction in clinical visits by patients affected with glaucoma negatively impacted market growth. But, owing to the increase in demand for COVID-19 vaccines, the market recovered gradually.

The focus of key players on R&D activities to initiate the availability of a wide range of products such as contact lenses, cataracts, and glaucoma products is projected to up-scale the market during the forecast period. Additionally, the creation of a pipeline for the purpose of exploring ophthalmic drug trials is constituted to expand the market with the introduction of the latest drugs to combat diseases, thus projected to escalate the market in the forecast period.

Ophthalmic Drugs Market Segmentation

Million Insights has segmented the global ophthalmic drugs market based on drug class, disease, route of administration, dosage type, product type, and region:

Ophthalmic Drugs Market - Drug Class Outlook (Revenue, USD Million, 2018 - 2030)

·

• Antiallergy
• Anti-inflammatory
• Non-steroidal drugs
• Steroidal drugs
• Anti-VEGF Agents
• Anti-glaucoma
• Others

Ophthalmic Drugs Market - Disease Outlook (Revenue, USD Million, 2018 - 2030)

• Dry Eye
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Eye Allergy
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Glaucoma
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Eye Infection
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Retinal Disorders
• Retinal Disorder Treatment Market, By Type,
• Macular Degeneration
• Diabetic Retinopathy
• Retinal Disorder Treatment Market, By Dosage Type,
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Uveitis
• Gels
• Eye Solutions & Suspensions
• Capsules & Tablets
• Eye Drops
• Ointments
• Others

Ophthalmic Drugs Market - Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)

• Gels
• Eye Solutions & Suspensions
• Capsules and Tablets
• Eye Drops
• Ointments

Ophthalmic Drugs Market - Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Topical
• Local Ocular
• Retinal Disorders
• Subconjunctival
• Intravitreal
• Retrobulbar
• Intracameral
• Systemic

Ophthalmic Drugs Market - Product Type Outlook (Revenue, USD Million, 2018 - 2030)

• Prescription Drugs
• OTC Drugs

Ophthalmic Drugs Market - Regional Outlook (Revenue, USD Million, 2018- 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Russia
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Singapore
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
• UAE

List of Key Players in the Ophthalmic Drugs Market

• Pfizer Inc.
• Alcon
• Novartis AG
• Bausch Health Companies Inc.
• Merck & Co., Inc
• Regeneron Pharmaceuticals Inc
• Allergan (AbbVie Inc)
• Bayer AG
• Genentech, Inc. (F. Hoffmann-La Roche Ltd)
• Nicox
• Coherus Biosciences, Inc.

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