Ophthalmic Drugs Market Analysis and Forecast to 2032: By Product Type (Prescription Drugs, OTC Drugs), Disease (Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders, Others), Route of Administration (Topical, Local Ocular, Systemic), Dosage F

Ophthalmic Drugs Market Analysis and Forecast to 2032: By Product Type (Prescription Drugs, OTC Drugs), Disease (Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders, Others), Route of Administration (Topical, Local Ocular, Systemic), Dosage Form (Gels, Eye Solutions & Suspensions, Capsules and Tablets, Eye Drops, Ointments), Drug Class (Antiallergy, Anti-inflammatory, Anti-VEGF Agents, Anti-glaucoma, Others), and Region

The ophthalmic drugs market size was USD 34,086.0 million in 2022 and is anticipated to reach USD 68,574.4 million in 2032, growing at a rate of 6.9% from 2023 to 2032.

The ophthalmic drugs are the formulations that are designed for the treatment of eye diseases such as cataract, glaucoma, color blindness, diabetic macular edema, cytomegalovirus (CMV) retinitis, and age-related macular degeneration (AMD).
Global Ophthalmic Drugs Market Scope and Report Structure
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Market Trends and Drivers
Rise in Prevalence of Eye Disorders

In industrialized nations, the aging population increases life expectancy, and unfavorable changes in lifestyle, such as bad eating habits and reduced exercise, are anticipated to lead to a rise in the prevalence of illnesses that might impair eyesight in the future. The most frequent causes of visual impairment include hereditary retinal illnesses affecting young people, glaucoma, cataracts, and age-related macular degeneration, primarily among older folks. For instance, in October 2022, as per World Health Organization (WHO) facts on 'Blindness and Vision Impairment,' The yearly cost of productivity losses related to eye impairment is projected to be USD 411 billion, placing a tremendous financial burden on the whole world. However, vision loss may afflict people of all ages. The majority of persons with visual impairment and blindness are over the age of 50. A near- or distance vision impairment affects at least 2.2 billion individuals worldwide. Hence aforementioned factors will boost the market growth.
Market Restraints and Challenges
Challenges Associated with Formulation of Ophthalmic Drugs

One of the most difficult areas of the pharmaceutical industry, drug delivery to the human eye, is quickly expanding. It is challenging for medications to work at the site of action and endure over time due to the unique structure and physiology of the eye. Creating a therapeutic system that can deliver an ideal concentration of medication to the target region with high therapeutic efficacy is a challenge in ocular drug delivery systems. Due to the cornea's architecture, physiology, and barrier properties, medicines are absorbed quickly; therefore, eye drop-inducing is necessary to maintain the therapeutic level in tear film or at specific spots. Consequences of utilizing medication solutions often include the potential for toxicity at the ocular surface and cellular damage.

Due to precorneal loss, including solution drainage, lacrimation, tear dynamics, tear dilution, conjunctival absorption, non-productive absorption, the temporary resident period in the cul-de-sac, and tear turnover, the majority of ocular dose forms have low bioavailability. Other difficulties include the impermeable corneal epithelial barrier, making it difficult to transport medications to the anterior area after topical administration.
Global Ophthalmic Drugs Market Segmental Overview
The report analyses the global Ophthalmic Drugs Market based on Product Type, Disease, Route of Administration, Dosage Form, Drug Class, and Region.

Global Ophthalmic Drugs Market by Product Type

On the basis of product type, the global ophthalmic drugs market is segmented into prescription drugs, over the counter drugs. Among these, the prescription drugs segment is going to dominate the market over the forecast period. A prescription drug also known as prescription medication, prescription medicine or prescription-only medication) is a pharmaceutical drug that is only permitted to be dispensed to those with a medical prescription. The increased prevalence of illnesses such as AMD and diabetic retinopathy accounts for the expansion of the prescription medications category. Furthermore, improved efficacy and safety are two factors that are likely to drive prescription segment demand. Lotemax gel/ointment, Zylet, Durezol, bepreve (bepotastine besylate ophthalmic solution), and prescription synthetic tears are among the medications available in this market. Bepreve is an antihistamine used for the treatment of allergic conjunctivitis. Some prescription medications contain moisturizing and lubricating agents that temporarily increase tear secretion. Prescription drugs are thought to be more effective than over-the-counter treatments in treating ocular problems.

Global Ophthalmic Drugs Market by Disease

Based on disease, the industry is categorized into Eye Allergy, Eye Infection, Glaucoma, Retinal disorders, Dry Eye, Other. The dry eye segment is anticipated to witness the fastest growth during the forecast period. The segment was valued at USD 5,371.7 million in 2022 and it is expected to grow further to USD 11,919.8 million by 2032, at a rate of 7.9% during the forecast period. The factor such as the growing demand for effective treatments, the rising prevalence of dry eye disease, the presence of a lucrative pipeline, and increasing awareness among the population about the condition. The COVID-19 outbreak had an adverse impact on the market in the early phase of the pandemic attributable to the reduced ophthalmology visits. However, as soon as the eye care practices began the market demonstrated a rebound. Moreover, the dry eye persisted in SARS-CoV-2 patients even after treatment of the disease, thus, increasing the target population for treatments. Moreover, during the pandemic sedentary activities and more use of screen has increased the occurrence of dry eye symptoms. Increasing R&D activities for treating the condition have developed a strong and promising pipeline.

Global Ophthalmic Drugs Market by Route of Administration

Based on route of administration, the industry is categorized into oral, topical, and systemic. The topical segment was valued at USD 20,712.8 million in 2022 and it is anticipated to grow further to USD 39,786.5 million by 2032, at a CAGR of 6.4% during the forecast period. The factors which are the driving the topical segment are the rising demand for topical medicines due to easy doses, patient compliance issues, and different strategic initiatives performed by market participants account for the expansion of the topical sector. Suspensions, remedies, and ointments are common topical medication dose forms. The cornea is the principal route of topical absorption that faces substantial anatomical challenges. The availability of various medications administered topically is thought to be the primary driver of this market. For example, Allergan, an AbbVie Inc. subsidiary, reported in October 2021 that the US FDA has authorized VUITY for the treatment of presbyopia. Vuity is the only FDA-approved eye drop for the treatment of a variety of eye disorders. The topical route segment is expected to yield the most income throughout the anticipated term. Existing formulas are being replaced as more novel products are introduced to the market, which will drive market growth in the coming years.

Global Ophthalmic Drugs Market by Dosage Form

Based on dosage form, the Ophthalmic Drugs market is divided into Gels, Eye Solutions & Suspensions, Capsules and Tablets, Eye Drops, and Ointments. The capsules and tablets segment was valued at USD 9,341.1 Million in 2022. The factor such as increasing health consciousness among the individuals coupled with advancements in manufacturing technology and the introduction of new materials. This will added more features to the traditional capsules such as controlled drug release, tamper-evident, and formulation choice of potent APIS due to reduced degradation in stomach pH, appealing aesthetics, and longer shelf life. In recent times, manufacturers are focusing on developing non-gelatin-based capsules using plant-based polymers. Starch, HPMC, and gums such as Pullulan. Increasing launch of tablet and capsule will fuel the segmental growth. For instance, In April 2022, Wellbeing Nutrition released "Melts Eye Care," the world's first all-natural eye vitamin.

Global Ophthalmic Drugs Market by Drug Class

Based on drug class, the Ophthalmic Drugs market is divided into Antiallergy, Anti-inflammatory, Anti-VEGF Agents, Anti-glaucoma, and Others. The Capsules and Tablets segment was valued at USD 9,341.1 Million in 2022. Factor such as increasing health consciousness among the individuals coupled with advancements in manufacturing technology and the introduction of new materials. This will added more features to the traditional capsules such as controlled drug release, tamper-evident, and formulation choice of potent APIS due to reduced degradation in stomach pH, appealing aesthetics, and longer shelf life. In recent times, manufacturers are focusing on developing non-gelatin-based capsules using plant-based polymers. Starch, HPMC, and gums such as Pullulan. Increasing launch of tablet and capsule will fuel the segmental growth. For instance, In April 2022, Wellbeing Nutrition released "Melts Eye Care," the world's first all-natural eye vitamin.
Geographical Analysis of Global Ophthalmic Drugs Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the Ophthalmic Drugs Market growth, recording the highest CAGR during the forecast period. Among all other regions, North America holds the largest market share over the forecast period. There are numerous market players in the North American region, and as more individuals learn about the items' accessibility, ophthalmic pharmaceutical sales will increase. Both the healthcare infrastructure and consumer knowledge are of the highest calibre in this region. These two elements will be essential to the market's growth over the course of the projection period.
Major Players in the Global Ophthalmic Drugs Market
Market players are focusing on strategic collaborations to enhance their product offerings. Some prominent participants in the global ophthalmic drugs market includes players such as Pfizer Inc., Sterling Pharmaceutical Services LLC, Somerset Pharma, LLC, Alcon Inc., Novartis AG, Bayer AG, Nicox SA, Coherus BioSciences, Inc., Sun Pharmaceutical Industries, Inc., Krishlar Pharmaceuticals, Allergan (AbbVie Inc), and others.
COVID-19 Impact:
In the pre-COVID-19 pandemic scenario, as the world's population ages and the prevalence of ophthalmic disorders rises, pharmaceutical and biotech companies' attention is increasingly focused on developing novel methods for the development of ophthalmic drugs, which is fueling the expansion of the world market for ophthalmic drugs. Additionally, it has been determined that age-related macular degeneration (AMD), particularly, and the rising incidence of glaucoma are the main factors influencing the anticipated expansion. As a result, the market for ophthalmic drugs performed well before the COVID-19 pandemic.

The COVID-19 pandemic affected the worldwide supply chain for pharmaceuticals and medical goods, which impacted the market for ophthalmic drugs and the research and development of therapies and medications for illnesses other than COVID-19. For instance, according to an article published by the Public Library of Science in March 2022, titled “COVID-19 pandemic decreased the ophthalmic outpatient numbers and altered the diagnosis distribution in a community hospital in Taiwan: An observational study”, it has been observed that the number of ophthalmic outpatients during the COVID-19 pandemic reduced by 46.9%.

However, the demand for ophthalmic drugs is up and is anticipated to grow during the forecast period from 2023 to 2032 due to the ease of lockdown restrictions, an upturn in resources, a supply chain, the administration of the vaccine to the public, the incorporation of telemedicine and e-commerce, and the rising number of ophthalmic disease diagnoses through telehealth. The demand for ophthalmic drugs is anticipated to rise in 2023 due to the restarted treatment and diagnosis services and an increase in hospital visits. The market under study is anticipated to reach its full potential eventually. Moreover, the ophthalmic drugs market would benefit from the rising public spending on healthcare globally in 2023.
Recent Developments:

In May 2023, Alcon launched TOTAL30® for Astigmatism, the first and only reusable contact lens with Water Gradient material for astigmatic contact lens wearers.
In September 2022, Alcon has announced new products introductions in the United States at AA). Clareon Toric IOL is introduced by Alcon, which is completing the Clareon Collection. Fidelis and patient involvement are expanding Alcon's digital capabilities. Given international surgical backlogs and personnel limitations, the demand for remote, digital solutions in ophthalmology has never been stronger.
In April 2022, Sandoz announced the release of its generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5%, an AB-rated generic counterpart to AbbVie's COMBIGAN, to treat ocular hypertension (high eye pressure) in patients.
In March 2022, Nicox SA announced encouraging findings from a Chinese Phase 3 clinical trial of ZERVIATE (cetirizine ophthalmic solution), 0.24%, conducted by Ocumension Therapeutics, its Chinese partner. The antihistamine ZERVIATE has compared to emedastine difumarate ophthalmic solution, 0.05%, which is sold under the trade name EMADINE.




Frequently Asked Questions
Q1. How big is the Ophthalmic Drugs market?

Ans. The ophthalmic drugs market size was USD 34,086.0 million in 2022 and is anticipated to reach USD 68,574.4 million in 2032, growing at a rate of 6.9% from 2023 to 2032.

Q2. What is the Ophthalmic Drugs Market growth rate?

Ans. The growth rate of the Ophthalmic Drugs Market is 6.9%

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Ophthalmic Drugs Market in 2021.

Q4. Which segment accounted for the largest Ophthalmic Drugs Market share?

Ans. By Route of Administration, the topical segment accounted for the largest ophthalmic drugs market share.

Q5. Who are the key players in the Ophthalmic Drugs market?

Ans. The global Ophthalmic Drugs Market report includes players such as Pfizer Inc., Sterling Pharmaceutical Services LLC, Somerset Pharma, LLC, Alcon Inc., Novartis AG, Bayer AG, Nicox SA, Coherus BioSciences, Inc., Sun Pharmaceutical Industries, Inc., Krishlar Pharmaceuticals, Allergan (AbbVie Inc), and others.

Q6. What are the factors driving the Ophthalmic Drugs Market growth?

Ans. The rising burden of eye-related disorders such as glaucoma, dry eye disease, and other eye-related disorders are the main factor driving the market growth.

Q7. What are the key growth strategies of Ophthalmic Drugs Market players?

Ans. The key growth strategies of Ophthalmic Drugs Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Ophthalmic Drugs Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Ophthalmic Drugs Market during the forecast period.



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