Ophthalmic Drugs Market - Top Key Players and Future Scope, 2026

The global ophthalmic drugs market size was valued at USD 30.30 billion in 2018 and is expected to grow at a CAGR of 4.5% from 2018 to 2026.

The global Ophthalmic Drugs Market size is expected to reach USD 43.1 billion by 2026 registering a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Increased funding by public and private bodies for conducting research on ocular disorders and presence of strong emerging pipeline drugs are some of the factors responsible for the growth of ophthalmic therapeutics market. For instance, Shire and Parion Sciences collaborated to develop and commercialize P-321, which will be used in the treatment of dry eye diseases in adults. In addition, approval of novel products for the treatment of eye disorders is expected to propel the market.

For instance, in 2017, Nicox, received FDA approval of ZERVIATE (cetirizine ophthalmic solution) for treating ocular itching associated with allergic conjunctivitis. This product is the first topical ocular formulation of antihistamine.Key companies, such as Novartis AG, Bausch & Lomb Inc., and Pfizer, Inc., are involved in mergers & acquisitions to increase their market share. In 2017, Johnson & Johnson Services, Inc acquired Abbott Medical Optics, Inc. With this acquisition, all the products of Abbott Medical Optics, Inc. including consumer eye health, laser refractive surgery, and cataract surgery portfolio will be sold under the name of Johnson & Johnson.

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https://www.grandviewresearch.com/industry-analysis/ophthalmic-therapeutics-drug-market

Further key findings from the study suggest:

• Anti-VEGF agent led the market in 2018 and is anticipated to register the fastest CAGR of 7.9% from 2019 to 2026 owing to its wide usage in treating eye disorders, such as age-related macular degeneration and diabetic retinopathy
• Retinal disorder was estimated to be the largest segment and is considered to be the fastest-growing disease segment over the forecast period due to increasing prevalence of diabetic retinopathy
• Eye drops led the market in 2018 and is projected witness the highest CAGR due its cost-effectiveness as compared to other dosage forms
• Prescription drugs held the largest share in 2018 since it is considered to be more effective treatment
• OTC type is said to be the fastest-growing segment over the forecast period owing to easy accessibility of OTC drugs
• North America led the market in 2018 due to increasing demand for ophthalmic products for the treatment of dry eye and glaucoma
• Asia Pacific is anticipated to be the fastest growing regional market during the forecast period due to awareness programs conducted by various organizations and rising disposable income levels
• Some of the key companies in this market are Novartis AG; Bausch & Lomb, Inc.; Regeneron Pharmaceuticals, Inc.; Allergan PLC; Pfizer, Inc.; Bayer AG; Santen Pharmaceutical Co., Ltd.; and Genentech, Inc.