DUBLIN–(BUSINESS WIRE)–The “Ophthalmology Drugs Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
Major companies in the ophthalmology drugs market include Novartis AG; F. Hoffmann-La Roche Ltd; Allergan Plc; Valeant Pharmaceuticals Intl Inc and Bayer AG.
The global ophthalmology drugs market is expected to grow from $22.03 billion in 2020 to $24.42 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%.
The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $32.64 billion in 2025 at a CAGR of 8%.
Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax. The ophthalmology drugs market is segmented into antiglaucoma drugs; dry eye medication; and other ophthalmological drugs (retinal disorders, anti-infectives/allergy).
North America was the largest region in the global ophthalmology drugs market, accounting for 41% of the market in 2020. Asia Pacific was the second largest region accounting for 28% of the global ophthalmology drugs market. Africa was the smallest region in the global ophthalmology drugs market.
Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to ease patient treatment for dry eye syndrome. Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the dry eye syndrome, with the topical corticosteroid drops being the most common therapy. Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye.
However, prolonged usage of corticosteroids has seen to produce side effects that include risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation. As a consequence, NSAIDs are increasingly being used as dry eye treatment instead of steroids to minimize the side effects.
Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts strain to investments relating to new product development, thereby affecting the growth of the ophthalmology drugs market.
The expected rise in eye laser surgeries will contribute to the ophthalmology drugs market. Ophthalmology research has proved a link between laser eye surgeries and the prevalence of dry eye disorders. In an eye laser procedure, cutting of some nerves in the cornea leads to reduction in corneal sensitivity, in response to which, eyes may not sense the need for lubrication, causing the body to produce fewer tears. Dry eye is a common side effect after laser vision correction surgeries. It is estimated that almost half of the patients that undergo a laser surgery experience some degree of dry eye condition following the procedure.
A rising number of people going for laser eye surgeries is expected to increase the demand for dry eye medications in the forecast period driving the ophthalmology drugs market.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Ophthalmology Drugs Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Ophthalmology Drugs Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Ophthalmology Drugs Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Ophthalmology Drugs Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Ophthalmology Drugs Market Trends and Strategies
8. Impact of COVID-19 on Ophthalmology Drugs
9. Ophthalmology Drugs Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market
10. Ophthalmology Drugs Market Regional Analysis
10.1. Global Ophthalmology Drugs Market, 2020, by Region, Value ($ Billion)
10.2. Global Ophthalmology Drugs Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Ophthalmology Drugs Market, Growth and Market Share Comparison, by Region
11. Ophthalmology Drugs Market Segmentation
11.1. Global Ophthalmology Drugs Market, Segmentation by Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Antiglaucoma Drugs
- Dry Eye Medication
- Other Ophthalmological Drugs (Retinal Disorders, Anti-Infectives/Allergy)
11.2. Global Ophthalmology Drugs Market, Segmentation by Distribution Channel, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Hospital Pharmacies
- Retail Pharmacies/ Drug Stores
11.3. Global Ophthalmology Drugs Market, Segmentation by Route of Administration, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
11.4. Global Ophthalmology Drugs Market, Segmentation by Drug Classification, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Branded Drugs
- Generic Drugs
11.5. Global Ophthalmology Drugs Market, Segmentation by Mode of Purchase, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- Prescription-Based Drugs
- Over-The-Counter Drugs
12. Ophthalmology Drugs Market Metrics
12.1. Ophthalmology Drugs Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Ophthalmology Drugs Market Expenditure, 2015-2025, Global
- Novartis AG
- F. Hoffmann-La Roche Ltd
- Allergan Plc
- Valeant Pharmaceuticals Intl Inc
- Bayer AG
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