Global Ophthalmic Drugs Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Indication (Dry Eye, Glaucoma, Infection/Inflammation/Allergies, Retinal Problems, Others), By Product Type (OTC Drug, Prescription Drug), By Drug Form (Liquid, Semi-solid, Solid), By Drug Class (Anti-Inflammatory, Anesthetic, Anti-Allergy, Others), By Delivery Method (Local (Topical, Intravitreous, Sub-conjunctival), Systematic), By Distribution Channel (Online, Offline), And By Geography - Forecasts From 2022 To 2027

Published:  Sep 2022 Report Code: KSI061613483 Pages: 122

The ophthalmic drugs market is estimated to grow at a CAGR of 5.55% to reach a market size of US$37.195 billion in 2027 from US$25.491 billion in 2020.  

Increasing cases of serious eye diseases are pushing pharmaceutical companies to launch better and enhanced drugs to cater to the increasing demand among patients for better and more effective treatment.

According to the World Health Organisation (WHO) Statistics presented in the Blindness and Vision Impairment 2019, about 2.2 billion people suffer from vision impairment or blindness. Out of the 2.2 billion, at least 1 billion people suffer from a vision impairment that could be prevented or is not addressed. The majority of the people are over the age of 50 years. Moreover, there is a rise in the prevalence of eye diseases such as Wet AMD, which is a chronic disease that is caused due to the excess of VEGF. This protein is responsible for promoting the growth of abnormal blood vessels under the macula (an area of the retina that aids in sharp and clear vision). So, when the fluid leaks out of these blood vessels and hinders vision, there is a requirement for drugs that inhibit the VEGF and suppress the growth of abnormal blood vessels. In addition, the rise in diseases such as glaucoma in the rising geriatric population is also a factor that is leading to increased demand for ophthalmic products and augmenting the market growth.

The presence of stringent packaging restrictions, which the market players have to strictly and must adhere to avoid the imposition of penalties

There are stringent measures regarding the packaging of ophthalmic products in terms of coloured caps and drug labelling. The yellow and blue-capped ophthalmic drugs are labelled as B blockers, and red-capped ophthalmic drugs are labelled as mydriatics and cycloplegics. There are also green-capped ophthalmic drugs that are to be labelled as miotics, orange capped are labelled as carbonic anhydrase inhibitors, brown capped are to be labelled as anti-infective agents, and the grey and pink capped products are to be labelled as non-steroidal anti-inflammatory drugs and steroids respectively.

The launch of better-equipped and new and enhanced varieties of ophthalmic drugs to cater to the increased cases of serious diseases and rare diseases by existing and new players in different markets is expected to propel the growth of this market in the forecast period.

 Some of the examples of the product offerings are as follows:

  • In January 2020, Horizon, one of the leading pharmaceutical companies dealing in the provision, announced that their new drug TEPEZZA (teprotumumab-trbw), which has been developed for the treatment of Thyroid Eye Disease (TED), has been approved by the FDA. This disease is a progressive, rare and autoimmune disease, which can be vision threatening and is associated with proptosis (eye bulging) and diplopia (double vision), blurred vision, and pain, among other problems. This is a type of fully human monoclonal antibody (mAb) and a targeted inhibitor of the insulin-like growth factor-1 receptor (IGF-1R) that needs to be provided to the patients once in three weeks.
  • In October 2019, Sun Pharmaceutical Industries Inc., one of the leading pharmaceutical companies based in India, announced that their new ophthalmic drug called “Cequa” had been commercialized. The drug can facilitate an increase in tear production in patients that are suffering from keratoconjunctivitis sicca (dry eye), which is an inflammatory disease, that is said to affect around more than 16 million U.S. individuals. The drug was approved in 2018 by the Food and Drug Administration (FDA) and was supposed to launch around March 2019 but was delayed until October. The drug developed is an improvement to the existing drug Restasis.
  • In October 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development, announced that they had received FDA approval for their ophthalmology drug “Beovu” (brolucizumab) injection. This drug has been developed to treat wet age-related macular degeneration (AMD). This drug, which has been approved by the FDA, is such an anti-VEGF drug that it can offer both greater fluid resolution in comparison to aflibercept and the ability to maintain eligible patients suffering from the dosing interval of three months by making a compromise of the efficacy.
  • In July 2019, Novartis, one of the leading companies dealing in the provision of healthcare solutions and drug development, announced that their drug “Lucentis” (ranibizumab) had been recommended for approval for the treatment of preterm infants with retinopathy of prematurity (ROP) by the Committee for Medical Products for Human Use (CHMP) of the European Medicines Agency (EMA). ROP is a rare eye disease, but it is one of the leading causes of childhood blindness.

The North American and European regions to hold a considerable share over the forecast period

The North American region is estimated to hold a considerable share over the forecast period, which is attributable to the fact that the pharmaceutical industry is flourishing, facilitated by the influx of investments. Moreover, research and development activities are being carried out to improve and enhance ophthalmic drugs and boost market growth.

OTC drugs are being made easily available by market players, which is going to contribute to the market share of OTCs over the forecast period

Some of the major market players are involved in providing ophthalmic drugs that can be purchased over the counter. Bausch & Lomb and Sentiss provide a range of products, such as drops and ointments for eye problems, that can provide temporary relief for occasional and frequent users alike.

Solution and suspension are expected to hold a significant share and show considerable growth over the forecast period.

Solution and suspension ophthalmic products are most commonly used in eye care, as they do not hamper the vision, can be instilled easily, and are less likely to cause complications.

Recent Developments

  • The Chinese National Medical Products Administration's Center for Drug Evaluation authorized Arctic Vision's Investigational New Drug Application for a Phase III study of ARVN003 (pilocarpine microdose ophthalmic solution) to treat presbyopia in September 2021. (CDE, NMPA).
  • To lower eye pressure in patient populations with ocular hypertension (high eye pressure) in the United States, Sandoz, a Novartis company, introduced its generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2 percent /0.5 percent in April 2022. This generic version of AbbVie's COMBIGAN has an AB rating.
  • For the treatment of dry eye conditions, Sun Pharma Canada Inc. introduced Cequa (cyclosporine ophthalmic drop 0.09 percent w/v) in Canada in January 2022.
  • The U.S. FDA granted Novartis permission to change Beovu's labels in June 2020. Additional safety information on retinal vascular occlusion and retinal vasculitis was included in the update to assist doctors in making wise choices regarding the usage of Beovu.

COVID-19 Impact on Ophthalmic Drugs Market

COVID-19 disrupted the supply chains and treatment protocols for medicines and medical devices around the world, which also had an effect on the market for ophthalmic treatments. It also affected the research and development of other therapies and drugs for illnesses other than COVID-19. In the research study "The Impact of Covid-19 in the Follow-Up of Glaucoma Patients in a Tertiary Center: A Comparison Between Pre-Pandemic and Pandemic Periods," published in November 2021, it was found that the total number of outpatient clinical visits, visual field exams, surgical procedures, and medications released decreased 92.52 percent, 93.84 percent, and 72.74 percent, respectively, between the pre-pandemic and pandemic periods. These findings imply that during the COVID-19 pandemic, there was a considerable decline in glaucoma diagnoses and treatments. However, the market under study is anticipated to return to its potential owing to continuous vaccination campaigns and a decline in COVID-19 cases.

Global Ophthalmic Drugs Market Scope:

Report Metric Details
 Market Size Value in 2020  US$25.491 billion
 Market Size Value in 2027  US$37.195 billion
 Growth Rate  CAGR of 5.55% from 2020 to 2027
 Base Year  2020
 Forecast Period  2022–2027
 Forecast Unit (Value)  USD Billion
 Segments Covered  Indication, Product Type, Drug Form, Drug Class, Delivery Method, Distribution Channel, And Geography
 Regions Covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies Covered Sun Pharmaceutical Industries, Inc., AbbVie, Otsuka Pharmaceutical Co., Ltd., Alcon Inc. (Ivantis), Mundipharma International, F. Hoffmann-La Roche Ltd, Novartis AG, Sentiss Pharma Pvt. Ltd., Santen Pharmaceutical Co., Ltd, Bausch & Lomb, Bayer AG, Aerie Pharmaceuticals, Inc, Pfizer Inc.
 Customization Scope  Free report customization with purchase

 

Segmentation:

  • By Indication
    • Dry Eye
    • Glaucoma
    • Infection/Inflammation/Allergies
    • Retinal Problems
    • Others
  • By Product type
    • OTC Drug
    • Prescription Drug
  • By Drug Form
    • Liquid
    • Semi-solid
    • Solid
  • By Drug Class
    • Anti-Inflammatory
    • Anesthetic
    • Anti-Allergy
    • Others
  • By Delivery Method
    • Local
      • Topical
      • Intravitreous
      • Sub-conjunctival
    • Systematic
  • By Distribution Channel
    • Online
    • Offline
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Israel
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • South Korea
      • Indonesia
      • Taiwan
      • Thailand
      • Others

Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the ophthalmic drugs market?
A1. The global ophthalmic drugs market is estimated to grow at a CAGR of 5.55% during the forecast period. 


Q2. What factors are anticipated to drive the ophthalmic drugs market?
A2. The rise in diseases such as glaucoma in the rising geriatric population is also a factor that is leading to increased demand for ophthalmic products and augmenting the market growth. 


Q3. What will be the ophthalmic drugs market size by 2027?
A3. The ophthalmic drugs market is estimated to reach a market size of US$37.195 billion by 2027. 


Q4. What is the size of the global ophthalmic drugs market?
A4. Ophthalmic Drugs Market was valued at US$25.491 billion in 2020.  


Q5. Which region holds the largest market share in the ophthalmic drugs market?
A5. The North American region is estimated to hold a considerable share of the ophthalmic drugs market owing to the fact that the pharmaceutical industry is flourishing, facilitated by the influx of investments.

1. Introduction
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2. Research Methodology
2.1. Research Data
2.2. Assumptions

3. Executive Summary
3.1. Research Highlights

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis

5. Ophthalmic Drugs Market Analysis, by Indication
5.1. Introduction
5.2. Dry Eye
5.3. Glaucoma
5.4. Infection/Inflammation/Allergies
5.5. Retinal Problems
5.6. Others

6. Ophthalmic Drugs Market Analysis, by Product Type
6.1. Introduction
6.2. OTC Drug
6.3. Prescription Drug

7. Ophthalmic Drugs Market Analysis, by Drug Form
7.1. Introduction
7.2. Liquid
7.3. Semi-solid
7.4. Solid

8. Ophthalmic Drugs Market Analysis, by Drug Class
8.1. Introduction
8.2. Anti-Inflammatory
8.3. Anesthetic
8.4. Anti-Allergy
8.5. Others

9. Ophthalmic Drugs Market Analysis, by Delivery Method 
9.1. Introduction
9.2. Local
9.2.1. Topical
9.2.2. Intravitreous
9.2.3. Sub-conjunctival
9.3. Systematic

10. Ophthalmic Drugs Market Analysis, by Distribution Channel 
10.1. Introduction
10.2. Online
10.3. Offline

11. Ophthalmic Drugs Market Analysis, by Geography
11.1. Introduction
11.2. North America
11.2.1. United States
11.2.2. Canada
11.2.3. Mexico
11.3. South America
11.3.1. Brazil
11.3.2. Argentina
11.3.3. Others
11.4. Europe
11.4.1. UK
11.4.2. Germany
11.4.3. France
11.4.4. Spain
11.4.5. Others
11.5. Middle East and Africa
11.5.1. Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Israel
11.5.4. Others
11.6. Asia Pacific
11.6.1. Japan
11.6.2. China
11.6.3. India
11.6.4. South Korea
11.6.5. Indonesia
11.6.6. Taiwan
11.6.7. Thailand
11.6.8. Others

12. Competitive Environment and Analysis
12.1. Major Players and Strategy Analysis
12.2. Emerging Players and Market Lucrativeness
12.3. Mergers, Acquisitions, Agreements, and Collaborations
12.4. Vendor Competitiveness Matrix

13. Company Profiles 
13.1. Sun Pharmaceutical Industries, Inc.
13.2. AbbVie
13.3. Otsuka Pharmaceutical Co., Ltd.
13.4. Alcon Inc. (Ivantis)
13.5. Mundipharma International
13.6. F. Hoffmann-La Roche Ltd
13.7. Novartis AG
13.8. Sentiss Pharma Pvt. Ltd.
13.9. Santen Pharmaceutical Co., Ltd
13.10. Bausch & Lomb
13.11. Bayer AG
13.12. Aerie Pharmaceuticals, Inc
13.13. Pfizer Inc.

Sun Pharmaceutical Industries, Inc.

AbbVie

Otsuka Pharmaceutical Co., Ltd.

Alcon Inc. (Ivantis)

Mundipharma International

F. Hoffmann-La Roche Ltd

Novartis AG

Sentiss Pharma Pvt. Ltd.

Santen Pharmaceutical Co., Ltd

Bausch & Lomb

Bayer AG

Aerie Pharmaceuticals, Inc

Pfizer Inc.

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