The ophthalmology drugs market comprises of sale of the ophthalmology drugs and other related services offered by different organization producing the ophthalmology drugs for treating eyes associated diseases. The industry further includes the establishment’s producing anti glaucoma drugs used for treating glaucoma disease, and anti- inflammatory and tear stimulating drugs for dry eye medications drugs, and other drugs for giving retinal disorders and other allergies.
According to study, “Ophthalmology Drugs Global Market Report 2019” the key companies operating in the global ophthalmology drugs market are Bausch & Lomb, Inc., Pfizer, Inc., Novartis AG, Regeneron, ALLERGAN PLC, Bayer AG, Merck Sharp & Dohme Corp., Johnson & Johnson Services, Inc., Genentech, Inc. and Santen Pharmaceutical Co., Ltd. The players are engaged in extensive R&D activities developed the novel ophthalmic drugs for the treating of various eye diseases and other disorders gaining a larger market share.
Based on drug class, ophthalmology drugs market is segmented into antiglaucoma agents, anti-Vascular Endothelial Growth Factor (anti-VEGF) agents, anti-inflammatory and antiallergy. Anti-VEGF segment dominates the market owing to high adoption rate and presence of global market players with extensive product portfolio. Based on disease type, market is segmented into glaucoma, dry eye, retinal disorders, eye infection, eye allergy, and uveitis. The retinal disorders segment is expected to exhibit substantial growth rate due to increase in prevalence of age-related macular degeneration and diabetic retinopathy during the forecast period. Based on dosage form, market is segmented into eye solutions, capsules and tablets, eye drops, ointments and gels. Eye drops segment holds major share in market caused by ease of usage and high patient compliance.
Based on product type, market is segmented into Over-the-counter (OTC) drugs and prescription.The prescription of drugs registered the largest share as being more efficacious than the conventional drugs with fewer adverse effects. In addition, based on route of administration insights, market is segmented into local ocular, topical, and systemic route. The local ocular route segment is further sub-segmented into intravitreal, retrobulbar, subconjunctival, and intracameral. The intravitreal route segment is estimated to be the largest segment being the highly efficient methods for delivering the drugs over the posterior segment of the eye.
The ophthalmology drugs market is driven by increase in incidence and prevalence of eye related disorders, followed by rise in funding from both public and private research organizations, presence of strong emerging pipeline drugs and increase in research & development (R&D) pertaining to the development of novel drugs. However, loss of patent protection for blockbuster drugs may impact the market.
Based on geography, the North-American region holds major share in ophthalmology drugs market owing to high disease burden, growth in technological advancements and rise in consumer awareness regarding the advantages of ophthalmic drugs in the region. Whereas, the Asian-pacific and European regions are estimated to witness higher growth rate due to improvement in economic scenario, a large patient pool coupled with rise in disposable income over the forecast period. In near future, it is predicted that the market will be reached at high speed caused by growth in improvements in healthcare infrastructure during the forecast period.
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Ankur Gupta, Head Marketing & Communications