The global ophthalmic drugs market shall gain moderate traction during the forecast period (2020-2025), registering a CAGR of 4.2%. There is an increase in incidences of eye-related diseases, particularly in developing nations, over the past several years.
Visual impairment is a global health concern having a negative impact on physical and mental health. The increasing patient pool of visually impaired is anticipated to boost demand for healthcare spending on ophthalmology drugs.
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Global Ophthalmic Drugs Market Segmentation
Fact.MR has studied the global ophthalmic drugs market with detailed segmentation on the basis of disease indication, therapeutic class, product type, distribution channels and regions.
By Disease Indication :
- Dry Eye
- Retinal Disorders:
- Wet AMD
- Dry AMD
- Diabetic Retinopathy
By Therapeutic Class :
- Anti-inflammatory Drugs:
- Anti-infective Drugs:
- Anti-fungal Drugs
- Anti-bacterial Drugs
- Anti-glaucoma Drugs:
- Alpha Agonist
- Beta Blockers
- Prostaglandin Analogs
- Combined Medication
- Anti-allergy Drugs
- Anti-VEGF Drugs
By Product Type :
- Prescription Drugs
- OTC Drugs
By Distribution Channels :
- Hospital Pharmacies
- Online Pharmacies
- Independent Pharmacies & Drug Stores
By Region :
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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Global Ophthalmic Drugs Market Scope
The recent study undertaken by Fact.MR on the global ophthalmic drugs market provides a 5-year forecast period ranging from 2020 to 2025 and explicates on key dynamics impacting the market’s growth such as the drivers, opportunities and restraints.
The ophthalmic drugs market has been analyzed in detail, providing information on the revenue, market share and yearly growth opportunities. Moreover, the market has been segmented based on disease indication, therapeutic class, product type and distribution channels.
The report also includes a detailed regional landscape based on the following geographies: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Each regional profile incorporates the abovementioned segments. Towards the end, a competitive landscape has also been given.
In this section, key companies’ revenue and market shares, product launches and important collaborations with other players have been provided. In order to provide a realistic outlook, each company is also provided with a SWOT analysis.
COVID-19 Impact on the Ophthalmic Drugs Market
The outbreak of the coronavirus disease has presented credible opportunities for the expansion of the ophthalmic drugs market. There have been multiple reports about eye redness and irritation in COVID-19 patients, suggesting that conjunctivitis could be an ocular manifestation of COVID-19 infection.
It was concluded in 2003 during the outbreak of SARS that lack of eye protection was the primary cause of transmission of the virus. A similar trend has been observed in the current wave of infections. However, most ocular manifestation of COVID-19 are self-limited and can be managed with symptomatic care.
With several countries easing social distancing measures, the supply chain of ophthalmic drugs market is anticipated to function normally. In light of the abovementioned trends, hospitals and other healthcare settings will demand increased quantities of ophthalmic drugs as a precautionary measure.
With the logistical arrangements reverting to normal, availability of such drugs will become much easier. Moreover, leading manufacturers have been increasing their productive capacities and are optimistic about registering an uptick in their operations in the wake of the easing of restrictions.
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“Rising prevalence of visual impairments has prompted healthcare providers to accelerate ophthalmic treatment across the world. This has motivated market players to develop important drugs, thereby leveraging prospects of the global ophthalmic drugs market. North America and Asia-Pacific shall generate the largest demand for ophthalmic drugs in the future.”
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