The global ophthalmic drugs market is expected to witness a CAGR of 6.3% during the forecast period to reach revenue of $30,134.5 million by 2024.
Development of innovative ophthalmic drug delivery methods has aided the drug manufacturers in developing effective and advanced therapeutic tactics.
The other significant aspects that help in the improvement the market are high pervasiveness of glaucoma globally and intensification in evolution in the development of combination drugs for the glaucoma.
Additionally, the changing aspects in the demography worldwide are driving the growth of the market. Nevertheless, hazard of side effects related to ophthalmic drugs and loss of patent for blockbuster drugs are hampering the market growth.
Based on the indication type, the market is segmented into dry eyes, glaucoma, eye infection/inflammation, retinal disorders, and others. The market is dominated by retinal disorders and is also expected to be the fastest growing segment. However, glaucoma is the second largest segment, owing to the high prevalence of diseases and lack of awareness among the people.
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 major threat to the leaders in the ophthalmic drugs market. Lupin Pharmaceuticals received US FDA approval on 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 Pharmaceuticals. Allergan, meanwhile, is under the threat from Akron, which is developing a generic version of Restasis. The release of such product is likely to generate an strong burden on the market players.
Key Topics Covered
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outline
4.1 Ophthalmic Drugs Approved By FDA
4.2 Market Segmentation
4.3 Porter 5 Forces
4.4 Pest Analysis
5 Market Characteristics
5.1 Market Dynamics
5.2 Dro - Impact Analysis
5.3 Key Stakeholders
6 Indication: Market Size And Analysis
6.2 Dry Eyes
6.4 Eye Infection/ Inflammation
6.5 Retinal Disorder
7 Regions: Market Size And Analysis
7.2 North America
7.4 Asia Pacific
7.5 Rest Of The World
8 Competitive Landscape
9 Vendor Profiles
9.1 Allergan PLC
9.2 Novartis AG
9.3 Pfizer Inc.
9.4 Valeant Pharmaceuticals International Inc. (Bausch Health)
9.5 Santen Pharmaceutical Co. Ltd.
9.6 Akorn Inc.
9.7 Johnson & Johnson
10 Companies To Watch For
10.1 Shire Plc
10.2 Daiichi Sankyo, Inc.
10.3 Bayer AG
10.4 F. Hoffmann-La Roche (Genentech)
10.5 Sun Pharmaceuticals
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