[104 Report Pages] This market research report identifies Novartis AG, Pfizer, Allergan Inc., Valeant Pharmaceutical International, Santen Pharmaceutical Co., Ltd., Regeneron Pharmaceutical, Akorn Inc., and Johnson & Johnson as the major vendors operating in the global Ophthalmic Drugs market. This report also provides a detailed analysis of the market by indication type (Dry Eyes, Glaucoma, Eye Infection/Inflammation, Retinal Disorders, and others) and region (North America, Europe, Asia Pacific, and Rest of the World).
Overview of the Ophthalmic Drugs Market
Infoholic’s market research report predicts that the global Ophthalmic Drugs market is expected to grow at a CAGR of 6.3% during the forecast period 2018–2024. Development of innovative ophthalmic drug delivery methods has aided the drug manufacturers in developing effective and advanced therapeutic tactics. The American Academy of Ophthalmology has stated that nearly 11 million individuals in the US are currently suffering from age-related macular degeneration (AMD), while almost 10% of that population have wet AMD. Such inclinations in eye ailments worldwide contribute to the development of the Ophthalmic Drugs market.
The other significant aspects that help in the improvement the market is high pervasiveness of glaucoma globally and intensification in evolution in the development of combination drugs for glaucoma. Additionally, the changing aspects in the demography worldwide are driving the growth of the market. Nevertheless, the hazard of side effects related to ophthalmic drugs and loss of patent for blockbuster drugs are hampering the market growth.
According to the ophthalmic drugs industry analysis, North America accounted for the largest share of the market in 2017. It was followed by Europe, Asia Pacific, and Rest of the World. North America alone occupied more than 35% of the ophthalmic drugs market, with a significant contribution from the US to market growth.
Ophthalmic Drugs Market Competitive Analysis and Key Vendors
In future, several blockbuster drugs that have dominated the market, are expected to lose their patents. The patents of successful products accounted for over $6 billion. The loss of patent is the most important aspect imposing a major threat to the leaders in the Ophthalmic Drugs market., Lupin Pharmaceuticals received US FDA approval in February 2015, for its bimatoprost ophthalmic solution 0.03%, the generic version of Lumigan. This affected the Allergan’s market. Formycon AG, a German biosimilars developing company is currently developing biosimilar for Eylea by Regeneron Pharmaceutical. Meanwhile, Allergan is under the threat from Akorn, which is developing a generic version of Restasis. The release of such product is likely to generate a strong burden on the market players.
Some of the key vendors in the Ophthalmic Drugs market are:
- Novartis AG
- Allergan Inc.
- Valeant Pharmaceutical International
- Santen Pharmaceutical Co. Ltd.
- Regeneron Pharmaceutical
- Johnson and Johnson
Ophthalmic Drugs Market by Indication
- Dry Eyes
- Eye Infection/Inflammation
- Retinal Disorder
In 2017, the market was dominated by Retinal Disorder segment and expected to be the fastest growing segment. However, Glaucoma was the second largest segment, owing to the high prevalence of diseases and lack of awareness among the people.
Ophthalmic Drugs Market Research Benefits
The report provides detailed information about the usage and adoption of ophthalmic drugs in various indications and regions. Additionally, key stakeholders can find out the major trends, drivers, investments, vertical player’s initiatives, government initiatives toward the product adoption in the upcoming years, along with the details of commercial products available in the market. Moreover, the report provides details about the major challenges that are going to have an impact on market growth. Furthermore, the report gives complete details about the business opportunities to key stakeholders to expand their business and capture revenues in the specific verticals. The report will help companies interested or established in this market to analyze the various aspects of this domain before investing or expanding their business in the Ophthalmic Drugs market.