Opthalmic Drugs Market is estimated to be US$ 132.06 billion by 2030 with a CAGR of 4.30% during the forecast period. Ophthalmic drug is that the administration of a drug to the eyes, most typically as an eye fixed drop formulation. Topical formulations are wont to combat a mess of diseased states of the attention. These states may include bacterial infections, eye injury, glaucoma, and dry eye. However, there are many challenges related to topical delivery of medicine to the cornea of the attention. The most important factor that has got to be taken under consideration when designing any sort of drug delivery device, and specifically ocular devices, is that the release rate of a drug.
The report " Global Opthalmic Drugs Market, By Disease Indication (Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders (Wet Age-related Macular, Degeneration, Dry Age-related Macular Degeneration, Diabetic Retinopathy, and Others), By Therapeutic Class (Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs, Anti-bacterial Drugs, and Others), Anti-glaucoma Drugs (Alpha Agonist, Beta Blockers, Prostaglandin Analogs, Combined Medication, and Others), Anti-allergy Drugs, Anti-VEGF Agents, and Others), By Distribution Channel (Hospital Pharmacies, Online Pharmacies, and Independent Pharmacies and Drug Stores), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa) - Trends, Analysis, and Forecast till 2030”
Key Highlights:
· In 2021, Teva Pharmaceuticals USA, Inc., a U.S. affiliate of Teva Pharmaceutical Industries Ltd.(NYSE and TASE: TEVA), announced its launch of the first available generic version of AZOPT® (brinzolamide ophthalmic suspension) 1%, approved by the US Food and Drug Administration to treat high pressure inside the eye due to ocular hypertension and open-angle glaucoma. Brinzolamide ophthalmic suspension 1% works by decreasing the amount of fluid within the eye.
· IN 2019, Sun Pharmaceutical Industries Ltd. announced that one of its wholly-owned subsidiaries has commercialized CEQUA (cyclosporine ophthalmic solution) 0.09% in the U.S. CEQUA, which offers the highest concentration of cyclosporine for ophthalmic use approved by the U.S. Food and Drug Administration (FDA)
Analyst View:
Increasing incidence and prevalence of eye related disorders like presbyopia, degeneration, and diabetic retinopathy among the aging population. With the introduction of ophthalmic devices equipped with sophisticated technologies, people are increasingly choosing ophthalmic surgeries to correct their eye related disorders. Lack of insurance amongst population especially within the developing countries or lack of insurance covering all kinds of IOLs or contact in developed countries may be a significant challenge faced by the ophthalmology industry.
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Key Market Insights from the report:
The Global Opthalmic Drugs Market is estimated to be US$ 132.06 billion by 2030 with a CAGR of 4.30% during the forecast period. The global opthalmic drugs market report segments the market on the basis of disease indication, therapeutic class, distribution channel, and region.
· On the basis of Disease Indication, the global opthalmic drugs market is segmented into Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders (Wet Age-related Macular, Degeneration, Dry Age-related Macular Degeneration, Diabetic Retinopathy, and Others).
· On the basis of Therapeutic Class, the target market is segmented into Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs, Anti-bacterial Drugs, and Others), Anti-glaucoma Drugs (Alpha Agonist, Beta Blockers, Prostaglandin Analogs, Combined Medication, and Others), Anti-allergy Drugs, Anti-VEGF Agents, and Others).
· On the basis of Distribution Channel, the target market divided into Hospital Pharmacies, Online Pharmacies, and Independent Pharmacies and Drug Stores.
· Based on region the global orphan drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The global market in North America region is seen to have a matured growth since this market correlates with the increasing growth rate of eye disease. In North America region is the dominating region due to the U.S. is the largest share of market holder of the ophthalmic drugs. In U.S., FDA gives approval to the specific indication, tax credits for drugs.
Competitive Landscape:
Key players in the global opthalmic drugs market includes, Santen Pharmaceutical Co., Ltd., Bausch & Lomb Inc. (Valeant Pharmaceuticals International, Inc.), Shire Plc, Alcon (Novartis AG), Genentech, Inc., Allergan, Plc, Sun Pharmaceutical Industries Limited, Actavis Generics (Teva Pharmaceutical Industries Ltd.), Regeneron Pharmaceuticals, Inc., and Pfizer Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
