Ophthalmic Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Ophthalmic Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global ophthalmic drugs market size reached US$ 42.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 59.1 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

Ophthalmic drugs are medications that are specially designed and administered for the treatment of various eye-related disorders, including color blindness, diabetic macular edema, cytomegalovirus (CMV), and age-related macular degeneration (AMD). These medications can be delivered in the form of an emulsion, ointment, aqueous gels, dendrimers, nanosuspensions, or contact lenses. Ophthalmic drugs are manufactured from neomycin, antibiotics, bacitracin, and polymyxin that aid in mitigating the growth of bacterial infection in the eye. At present, they are commercially available in solid, liquid, and semi-solid formulation types.

Ophthalmic Drugs Market Trends:
The increasing prevalence of various eye-related disorders, such as visual impairment, glaucoma, and color blindness, especially amongst the rising geriatric population, is primarily driving the ophthalmic drugs market growth. In line with this, the rising awareness regarding the anti-inflammatory properties of the drug is further facilitating their demand to treat scleritis, cystoid macular edema, and uveitis disorders. Moreover, the extensive fundings and favorable initiatives being undertaken by the governments of several countries to promote the production of effective ophthalmic drugs with novel formulations and combinations are also supporting the market growth. Besides this, significant technological advancements, including the introduction of gene-drug therapies for diagnosing and treating hereditary ophthalmic, neurovascular retinal, and retinoblastoma disorders, are acting as another growth-inducing factors. Additionally, the easy availability of ophthalmic drugs in eye solutions, drops, capsules, tablets, gels, and ointments forms across several online and offline distribution channels is contributing to the market growth. Other factors, such as significant expansion in the pharmaceutical industry, along with rising research and development (R&D) activities to introduce cost-effective ocular drug delivery systems (ODDS), are creating a positive outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global ophthalmic drugs market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, drug class, indication, dosage form and distribution channel.

Breakup by Type:

Prescription Drugs
Over-the-counter Drugs

Breakup by Drug Class:

Anti-glaucoma
Anti-infection
Anti-inflammation
Anti-allergy
Others

Breakup by Indication:

Dry Eye
Glaucoma
Infection/Inflammation/Allergy
Retinal Disorders
Others

Breakup by Dosage Form:

Liquid Ophthalmic Drug Forms
Solid Ophthalmic Drug Forms
Semisolid Ophthalmic Drug Forms
Multicompartment Drug Delivery Systems
Others

Breakup by Distribution Channel:

Hospital Pharmacies
Drug Stores
Online Pharmacies
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being AbbVie Inc., Aerie Pharmaceuticals Inc., Akorn Inc., Alcon, Bausch Health Companies Inc., Bayer AG, F. Hoffmann-La Roche AG, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd. and Sun Pharmaceutical Industries Ltd.

Key Questions Answered in This Report:
How has the global ophthalmic drugs market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global ophthalmic drugs market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the drug class?
What is the breakup of the market based on the indication?
What is the breakup of the market based on the dosage form?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global ophthalmic drugs market and who are the key players?
What is the degree of competition in the industry?