An Ophthalmic Disease Therapeutics Market Forecasts to 2028 – Global Analysis By Disease Indication (Retinal Diseases, Glaucoma, Dry Eye Disease, Allergy & Infections and Other Disease Indications), Drug Class (Anti-glaucoma

Ophthalmic Disease Therapeutics Market Forecasts to 2028 – Global Analysis By Disease Indication (Retinal Diseases, Glaucoma, Dry Eye Disease, Allergy & Infections and Other Disease Indications), Drug Class (Anti-glaucoma, Anti-VEGF, Anti-inflammatory, Anti-infectives and Other Drug Classes), Dosage Form (Semi-solid, Solid and Liquid), Distribution Channel (Retail & Online Pharmacies and Hospital Pharmacies), End User and By Geography

According tStratistics MRC, the Global Ophthalmic Disease Therapeutics Market is accounted for $33.56 billion in 2022 and is expected treach $54.44 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Ophthalmic illness therapeutics comprise medications and therapies used ttreat a variety of ocular ailments such as glaucoma, dry eye disease, retinal diseases, and others. The expanding prevalence of these disorders in the population, together with the rising healthcare burden caused by these conditions, is predicted tincrease demand for novel medicines and approaches tdisease management.

According tthe 2021 report published by the Welsh Government, the number of ophthalmic practitioners in Wales increased t961 in March 2021 from 885 in March 2020.

Market Dynamics:

Driver:

Rising prevalence of ophthalmic conditions

One of the key factors contributing tthe growing patient population globally is the increasing prevalence of ophthalmic illnesses such as glaucoma, retinal diseases, dry eye disease, and others among the population. The prevalence of various ocular diseases is shown tbe higher in the elderly population. Because of the increasing number of efforts carried out by various healthcare agencies, government entities, and market participants, there is a higher diagnostic and treatment rate among the population.

Restraint:

High cost of biologics

Biologics and biosimilars provide various clinical advantages, including increased effectiveness, safety, and others. However, there are several limits, such as the greater cost of biologics, more out-of-pocket spending, and son. The higher cost of biologics due ttheir numerous benefits and varied expenditures involved with their research and approvals is a critical issue restricting the use of these medications in developing nations.

Opportunity:

Increasing clinical trials and pipeline candidates for innovative drugs and therapies

Market players and research organisations are putting more emphasis on developing and launching innovative therapies ttreat the illness. The increasing efforts of market participants in R&D activities tdevelop novel medicines for the treatment of the condition are likely tresult in a higher demand for ophthalmic disease therapeutics in the market during the forecast period. The increased focus and vigorous efforts of the market's leading competitors tdiscover and launch novel medicines tmeet the unmet demand for the growing patient population is predicted traise ophthalmic drug consumption.

Threat:

Lack of awareness

Market expansion is hampered by stringent regulatory frameworks and ambiguous reimbursement practises. Lack of awareness of various ocular problems in rural regions, as well as a lack of health insurance that covers all types of IOLs and contact lenses, are limiting market growth. Vision care has become prohibitively expensive, with many individuals all around the world unable tafford ophthalmic procedures. This is regarded as the key cause of the worldwide ophthalmology pharmaceuticals market's diminishing growth.

Covid-19 Impact

Throughout the projection period, the COVID-19 had a negative impact on market growth. One of the key factors responsible for the market's slower growth during the pandemic is the temporary closure of orthopaedic clinics and a greater concentration of healthcare providers on COVID-19 patients. The lockdown restrictions imposed by government authorities across the regions resulted in the cancellation or postponement of services related with many ocular disorders, as well as a decrease in the number of patient visits thospitals and clinics. This resulted in a decline in global patient demand for ocular illness medicines.

The anti-VEGF segment is expected tbe the largest during the forecast period

The anti-VEGF segment is estimated thave a lucrative growth, due tthe rising demand and acceptance of anti-VEGF agents, and the presence of significant market players with extensive product portfolios. Furthermore, the segment's growth is attributed tthe great performance of Avastin, LUCENTIS, and others. The current class of anti-VEGF medications is effective but not long-lasting, hence the focus of players on the development of therapeutics with longer action is growing.

The semisolid segment is expected thave the highest CAGR during the forecast period

The semisolid segment is anticipated twitness the fastest CAGR growth during the forecast period, because of the increasing number of product approvals and releases, such as ointment, suspensions, gels, and others. Rising applications of ointment including inflammatory conditions, infections, and dry eye due its increased effectiveness is leading trising adoption of the semisolid products. Together with this, the rising attention of the leading players on gaining approvals and introducing new products is another factor contributing tthe segment's rise.

Region with highest share:

Asia Pacific is projected thold the largest market share during the forecast period owing trising prevalence of various ocular illnesses combined with higher diagnostic and treatment rate. Furthermore, rising healthcare spending on eye care and eye health in the region, as well as the availability of acceptable reimbursement for various ophthalmic conditions, encourages the adoption of advanced and novel treatments in the region's important countries. A favourable environment for the research and development of numerous revolutionary pharmaceuticals tcure ophthalmic illnesses, as well as the increasing approval of new drugs, are some other factors contributing tthe market's growth.

Region with highest CAGR:

Europe is projected thave the highest CAGR over the forecast period. Increasing biologics and biosimilar launches for the treatment of various eye disorders, increased emphasis on effective ocular condition management, and expanding attempts by market leading players texpand their geographical footprint. The introduction of new products, among other things, is one of the few aspects substantially contributing tmarket growth. Furthermore, the government's increased investments and advancements in healthcare infrastructure facilities are boosting the market.

Key players in the market

Some of the key players profiled in the Ophthalmic Disease Therapeutics Market include Bayer AG, F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals Inc., AbbVie Inc., Santen Pharmaceutical Co. Ltd., Viatris Inc., Novartis AG, Eye Pharmaceuticals, Roche Valeant, Merck & Co., Lpath, Alcon Inc., Pfizer Inc. and Senju

Key Developments:

In September 2022, Santen Pharmaceutical Co., Ltd. and UBE received approval from the U.S. FDA for Omlonti (omidenepag isopropyl ophthalmic solution) 0.002% eye drops for reduction of elevated IOP in patients with primary open-angle glaucoma or ocular hypertension.

In June 2022, F. Hoffmann-La Roche Ltd. received authorization for Vabysmo, from Health Canada for the treatment of neovascular (wet) Age-related Macular Degeneration (AMD) and Diabetic Macular Edema (DME).

In March 2022, Novartis AG received approval from the European commission for Beovu, an ophthalmic medicine for the treatment of visual impairment caused due tdiabetic macular edema.

In February 2022, Viatris Inc. received approval for Cyclosporine Ophthalmic Emulsion 0.05%, the first generic version of Allergan’s Restasis, for the treatment of ocular inflammation.

In December 2021, AbbVie Inc. received approval from the U.S. FDA for Vuity, a pilocarpine Hcl ophthalmic solution for the treatment of presbyopia.

Disease Indications Covered:
• Retinal Diseases
• Glaucoma
• Dry Eye Disease
• Allergy & Infections
• Other Disease Indications

Drug Classes Covered:
• Anti-glaucoma
• Anti-VEGF
• Anti-inflammatory
• Anti-infectives
• Other Drug Classes

Dosage Forms Covered:
• Semi-solid
• Solid
• Liquid

Distribution Channels Covered:
• Retail & Online Pharmacies
• Hospital Pharmacies

End Users Covered:
• Patients
• Diagnostic Centres
• Hospitals
• Eye Clinics

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements