DUBLIN, Feb. 24, 2021 /PRNewswire/ -- The "Ophthalmic Drugs Market Size, Share & Trends Analysis Report by Disease (Dry Eye, Eye Allergy, Glaucoma, Eye Infection), by Drug Class, by Dosage Form, by Route Of Administration, by Product Type, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global ophthalmic drugs market size is expected to reach USD 60.3 billion by 2028. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028.
An increase in the prevalence of eye-related disorders, such as presbyopia, macular degeneration, and diabetic retinopathy, is one of the major drivers of the market. According to the American Academy of Ophthalmology, over 2.71 million people in the U.S. were affected by Primary Open-angle Glaucoma (POAG) in 2011, and the number is estimated to reach 7.3 million by 2050.
Moreover, due to COVID-19, it has become increasingly unsafe for individuals to touch their face several times a day, which is a known cause of transmission. Therefore, companies are developing long-acting, hands-free therapies to combat such challenges.
For instance, in April 2020, Ocular Therapeutix, Inc. completed Phase III clinical trial to evaluate the safety and efficacy of DEXTENZA for allergic conjunctivitis. It is a hands-free therapy administered in the office setting as an intracanalicular insert. It is bioresorbable and designed to release the corticosteroid dexamethasone to the ocular surface, lasting 30 days. It is a one-time and long-acting therapy that can be useful during the COVID-19 crisis.
Investors are increasingly funding companies to support the clinical development of novel treatments for eye diseases thereby fueling the market growth. For instance, in February 2019, Oyster Point Pharma, Inc. received USD 93 million series B financing from Invus Opportunities, Flying L Partners, New Enterprise Associates (NEA), Versant Ventures, and Vida Ventures. The company's product candidates include OC-01 and OC-02 in a Phase 2b clinical trial.
In addition, increasing development and approval of new laboratory methods is expected to boost the market growth. For instance, in July 2020, Quest Diagnostics received emergency Use Authorization (EUA) from the U.S. FDA for a laboratory technique that was developed for extracting viral RNA. This new technique was designed to expand the testing capacity of the Covid-19 molecular tests.
Furthermore, key players in the market undertake various strategies to strengthen their product portfolios and offer diverse, technologically advanced, and innovative products. For instance, in September 2019, Alcon introduced iLUX Patient Care Kits to support practices in treating people with dry eyes in the U.S.
Ophthalmic Drug Market Report Highlights
In 2020, anti-VEGF agents dominated the market owing to high preference by ophthalmologists, enhanced tissue penetration, and rapid responsive rates.
Retinal disorders was the fastest-growing disease segment in 2020 owing to an increase in the prevalence of age-related macular degeneration and diabetic retinopathy, technological advancements, and the rising strategic collaborations.
The topical route of administration dominated the market in 2020 due to the high patient compliance, non-invasiveness, and self-administrability.
The eye drops segment is estimated to witness the fastest growth over the forecast period due to impending launches of several ophthalmic solutions and suspensions in the near future and its direct drug delivery mechanism.
North America dominated the market and accounted for the largest revenue share in 2020 owing to the rising consumer awareness, high disease burden, technological advancements, and proactive government measures.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Ophthalmic Drugs Market Variables, Trends, & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market
3.2.1 Dry Eyes
3.2.3 Retinal Disorders
3.2.5 Eye Infection/ Inflammation
3.2.6 Eye Allergy
3.3 Regulatory Framework
3.4 Patent Expiry Analysis
3.5 Pipeline Analysis
3.5.1 Pipeline Analysis, By Phase (Funder Type-Industry)
3.5.2 Pipeline Analysis, By Phase (Funder Type-All Others)
3.6 Cost Structure Analysis
3.7 Market Dynamics
3.7.1 Market Drivers Analysis
220.127.116.11 Increasing Disease Prevalence
18.104.22.168 Strong Developmental Pipeline
22.214.171.124 Advancements In Drug Delivery
126.96.36.199 Promising Investment Scenario
3.7.2 Market Restraint Analysis
188.8.131.52 Patent Expiry Of Blockbuster Drugs
3.8 Penetration & Growth Prospect Mapping
3.9 Ophthalmic Drugs: Market Analysis Tools
3.9.1 Industry Analysis-Porter's
3.9.2 Pestle Analysis
3.9.3 Major Deals And Strategic Alliances
184.108.40.206 New Product Launch
220.127.116.11 Marketing & Promotions
3.10 Primary Research Analysis
3.10.1 Market Scenario
3.10.2 Key Kol Responses
Chapter 4 Ophthalmic Drugs Market: Segment Analysis, By Drug Class, 2017-2028 (USD Million)
4.1 Definition And Scope
4.2 Drug Class Market Share Analysis, 2020 & 2028
4.3 Segment Dashboard
4.4 Global Ophthalmic Drugs Market, By Drug Class, 2017-2028 (USD Million)
4.5 Market Size & Forecasts And Trend Analyses, 2017-2028 (USD Million)
4.5.2 Anti-Vegf Agents
18.104.22.168 Anti-Inflammatory Market, 2017-2028 (USD Million)
22.214.171.124 Non-Steroidal Anti-Inflammatory Drugs
126.96.36.199 Steroidal Anti-Inflammatory Drugs
Chapter 5 Ophthalmic Drugs Market: Segment Analysis, By Disease, 2017-2028 (USD Million)
5.1 Definition And Scope
5.2 Disease Market Share Analysis, 2020 & 2028
5.3 Segment Dashboard
5.4 Global Ophthalmic Drugs Market, By Disease, 2017-2028 (USD Million)
5.5 Market Size & Forecasts And Trend Analyses, 2017-2028 (USD Million)
5.5.1 Dry Eye
5.5.2 Eye Allergies
5.5.4 Eye Infection
5.5.5 Retinal Disorders
188.8.131.52 Retinal Disorders Market, 2017-2028 (USD Million)
184.108.40.206 Macular Degeneration
220.127.116.11 Diabetic Retinopathy
Chapter 6 Ophthalmic Drugs Market: Segment Analysis, By Route of Administration, 2017-2028 (USD Million)
6.1 Definition and Scope
6.2 Route of Administration Market Share Analysis, 2020 & 2028
6.3 Segment Dashboard
6.4 Global Ophthalmic Drugs Market, by Route of Administration, 2017-2028 (USD Million)
6.5 Market Size & Forecasts And Trend Analyses, 2017-2028 (USD Million)
6.5.2 Local Ocular
Chapter 7 Ophthalmic Drugs Market: Segment Analysis, By Dosage Form, 2017-2028 (USD Million)
7.1 Definition and Scope
7.2 Dosage Form Market Share Analysis, 2020 & 2028
7.3 Segment Dashboard
7.4 Global Ophthalmic Drugs Market, by Dosage Form, 2017-2028 (USD Million)
7.5 Market Size & Forecasts and Trend Analyses, 2017-2028 (USD Million)
7.5.2 Eye Solutions
7.5.3 Capsules & Tablets
7.5.4 Eye Drops
Chapter 8 Ophthalmic Drugs Market: Segment Analysis, By Product Type, 2017-2028 (USD Million)
8.1 Definition and Scope
8.2 Product Type Market Share Analysis, 2020 & 2028
8.3 Segment Dashboard
8.4 Global Ophthalmic Drugs Market, by Product Type, 2017-2028 (USD Million)
8.5 Market Size & Forecasts and Trend Analyses, 2017-2028 (USD Million)
8.5.1 OTC Drugs
8.5.2 Prescription Drugs
Chapter 9 Ophthalmic Drugs Market: Segment Analysis, By Region, 2017-2028 (USD Million)
9.1 Definition & Scope
9.2 Regional Market Share Analysis, 2020 & 2028
9.3 Regional Market Dashboard
9.4 Regional Market Snapshot
9.5 Regional Market Share and Leading Players, 2020
Chapter 10 Ophthalmic Drugs Market-Competitive Analysis
Johnson & Johnson Services, Inc.
Merck Sharp & Dohme Corp.
Regeneron Pharmaceuticals, Inc.
Coherus Biosciences, Inc.
Santen Pharmaceuticals Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/v5qa54
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