New York, NY, Jan. 28, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Ophthalmic Drug Market By Type (Over-the-Counter Drugs and Prescription Drugs), By Drug Class (Anti-inflammatory Drugs, Anti-Infective Drugs, Anti-Allergic Drugs, Anti-Glaucoma Drugs, and Others), By Disease Indication (Inflammation/ Infection, Retinal Disorders, Dry Eye, Glaucoma, Allergies, and Others), By Distribution Channel (Online Sales, Retail Pharmacies, Hospital Pharmacies, and Others), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026” .
“According to the research study, the global Ophthalmic Drug Market was estimated at USD 27,000 Million in 2019 and is expected to reach USD 37,700 Million by 2026. The global Ophthalmic Drug Market is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2019 to 2027”.
Ophthalmic drugs, also referred to as eye medications, are solid, liquid, or semi-solid formulations that are intended to apply on the eyelids and conjunctiva. The drugs are certain emulsions, ointments, and/or active pharmaceutical ingredient(s).
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Ophthalmic Drug Market?
2) What is the market size, share of the Ophthalmic Drug Market?
3) Who are the top market players in Ophthalmic Drug Market?
4) What will be the future market of the Ophthalmic Drug Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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High prevalence of ocular disease cases likely to bolster the ophthalmic drug market
The visual impairment incidences have been surging considerably worldwide irrespective of the age group. This challenging situation has urged drug manufacturers and pharmaceutical companies to design and supply effective medications against this rapidly spreading disorder. Hence, the introduction of novel effective ophthalmic drugs bolsters the global ophthalmic drug market. Exposure to air and water pollution poses a greater risk to the eyes. Thus, surging the demand for the drugs and propelling the global ophthalmic drug market.
Key market players
Some of the key players driving the global ophthalmic drugs market are Santen Pharmaceutical Co. Ltd., Bayer AG, ALLERGAN, Novartis AG, Pfizer Inc., Genentech Inc., Oxurion NV, Bausch Health Companies Inc., and Regeneron Pharmaceuticals Inc., among others.
In February 2019, Bausch Health Companies Inc. procures the patent medicine EM-100 investigational eye drop designed by Eton Pharmaceuticals EM-100 for the treatment of itching associated with the allergies in eyes.
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Ophthalmic drugs-associated side effects expected to hamper the ophthalmic market
Eye treatment involves a risky operation and has various side effects. In some cases, ophthalmic drugs fail to maintain the intraocular pressure of the eye while treatment. In most cases, the medicine may cause internal burning in the eye and/or temporary blurred vision. Owing to these attributes, the ophthalmic drugs market enters the declining phase.
Anti-infective drug class leads the global ophthalmic drug market
The anti-infective drug category, from the past few years, has been holding the dominating position in the global ophthalmic market. In 2019, the category accounts for more than one-third of the market share in terms of revenue. However, the anti-glaucoma drugs are projected to augment at a relatively faster CAGR throughout the forecast period.
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Over-the-counter drug type accounts for higher sales and revenue share
Based on the type segment, ophthalmic drugs are categorized into prescription drugs and over-the-counter drugs. Among both, over-the-counter drug type holds around two-third share in the overall sales and revenue. However, the prescription drug category is anticipated to grow at a higher CAGR between 2020 and 2026.
Retail pharmacies expect better sales and revenue share during the forecast period
Despite the consecutive decline in the volume sales, the revenue generated by retail pharmacies is thrusting at a considerable rate. Based on the forecast, the drug category is likely to follow the same revenue growth trend. However, the hospital pharmacies category holds the leading position in the global market revenue generation.
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The visual impairment incidences have been surging considerably worldwide irrespective of the age group. This challenging situation has urged drug manufacturers and pharmaceutical companies to design and supply effective medications against this rapidly spreading disorder. Hence, the introduction of novel effective ophthalmic drug bolsters the global ophthalmic drug market. Exposure to air and water pollution poses a greater risk to the eyes. Thus, surging the demand for the drugs and propelling the global ophthalmic drug market.
The global ophthalmic drug market is segmented based on type, drug class, disease indication, distribution channel, and region. By type, the market is segmented into over-the-counter drugs and prescription drugs. Drug class classifies the market into anti-inflammatory drugs, anti-infective drugs, anti-allergic drugs, anti-glaucoma drugs, and others. Based on disease indication, the global market is categorized into inflammation/ infection, retinal disorders, dry eye, glaucoma, allergies, and others. The distribution channel segment of the global magnesium chloride market is sectored into online sales, retail pharmacies, hospital pharmacies, and others.
Browse the full “Ophthalmic Drug Market By Type (Over-the-Counter Drugs and Prescription Drugs), By Drug Class (Anti-inflammatory Drugs, Anti-Infective Drugs, Anti-Allergic Drugs, Anti-Glaucoma Drugs, and Others), By Disease Indication (Inflammation/ Infection, Retinal Disorders, Dry Eye, Glaucoma, Allergies, and Others), By Distribution Channel (Online Sales, Retail Pharmacies, Hospital Pharmacies, and Others), and By Region: Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026″ report at https://www.fnfresearch.com/global-ophthalmic-drug-market-global-ophthalmic-drugmarket-by
The global ophthalmic drugs market is segmented as:
Global Ophthalmic Drugs Market: Type Segmentation Analysis
- Over-the-Counter Drugs
- Prescription Drugs
Global Ophthalmic Drugs Market: Drug Class Segmentation Analysis
- Anti-Infective Drugs
- Anti-Bacterial Drugs
- Anti-Fungal Drugs
- Anti-Viral Drugs
- Anti-Glaucoma Drugs
- Prostaglandin Analogs
- Alpha Agonist
- Combined Medication
- Anti-inflammatory Drugs
- Non-Steroidal Anti-Inflammatory Drugs
- Anti-Allergic Drugs
Global Ophthalmic Drugs Market: Disease Indication Segmentation Analysis
- Inflammation/ Infection
- Retinal Disorders
- Dry Eye
Global Ophthalmic Drugs Market: Distribution Channel Segmentation Analysis
- Online Sales
- Retail Pharmacies
- Hospital Pharmacies
Key Recommendations from Analysts
- Based on the analytical data, the global ophthalmic market generated a revenue of over USD 27,000 million in 2019 and is projected to reach a value close to USD 37,700 million propelling at a rate of around 4.6%.
- According to analysts, the cases of ophthalmic disorders are rising considerably due to the increasing environmental pollution, especially air & water, which in turn flourishes the global ophthalmic drug market.
- Analysts indicated that North America dominated the global ophthalmic market holding over 40% market share in terms of revenue and volume.
- The drugs associated with the “retinal disorders” category under the disease indication segment accounts for around one-third of the global ophthalmic market share.
- Hospital pharmacies generate considerably higher revenue through ophthalmic drug sales. However, analysts have indicated that the retail pharmacies category is anticipated to grow at a faster rate.
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