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Ophthalmic Drugs Market Analysis and Sustainable Growth Opportunities By 2028

06.02.2022 · Posted in Pharmacy Articles

Ophthalmic Drugs Industry Overview

The global ophthalmic drugs market size was valued at USD 36.7 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028.  

Increasing awareness regarding eye-related diseases and rising advancements in technologies are some of the major factors expected to accelerate market growth. The rising prevalence of eye-related disorders, such as diabetic retinopathy, macular degeneration, and presbyopia is expected to boost market growth over the forecast period. For instance, according to the National Eye Institute, the projected number of U.S. citizens suffering from AMD is estimated to increase from 2.07 million in 2030 to 5.44 million in 2050. In the case of diabetic retinopathy in the U.S., the total number of cases is projected to be 14.6 million in 2050.

Gather more insights about the market drivers, restrains and growth of the Global Ophthalmic Drugs Market

U.S. ophthalmic drugs market size, by drug class, 2018 - 2028 (USD Billion)

In addition, ophthalmic pharmaceutical companies are entering into strategic initiatives, such as collaborations, acquisitions, and partnerships, to expand their product pipeline with new clinical-stage candidates, which is expected to boost the market. For instance, in November 2019, Aerie Pharmaceuticals, Inc. acquired Avizorex Pharma, S.L., an ophthalmic pharmaceutical company in Spain that involved in the development of products for dry eye disease. Avizorex Pharma, S.L. has completed a Phase 2a clinical trial of AVX-012 for treatment of dry eye disease subjects in early 2020 with its lead product candidate. The acquisition was expected to expand Aerie’s footprint in ophthalmology.

Gene therapies are beneficial in the diagnosis and treatment of hereditary ophthalmic diseases, neurovascular retinal disorders, and retinoblastoma. Therefore, there is a need for further research to optimize and expand the applications of gene therapy across ophthalmic indications. In December 2017, Spark Therapeutics received FDA approval for the first gene therapy drug for ophthalmic use, Luxturna (voretigene neparvovecrzyl). This drug was indicated for retinitis pigmentosa and Leber’s congenital amaurosis. Luxturna is likely to enjoy the first-mover advantage in the gene therapy space, a major factor driving the market for ophthalmic drugs.

Browse through Grand View Research’s Pharmaceuticals Industry Research Reports.

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Ophthalmic Drug Market Segmentation

Grand View Research has segmented the global ophthalmic drugs market on the basis of drug class, disease, dosage form, route of administration, product type, and region.

  • Ophthalmic Drugs Class Outlook (Revenue, USD Million, 2017 – 2028)
    • Antiallergy
    • Anti-VEGF Agents
    • Anti-inflammatory
      • Nonsteroidal Drugs
      • Steroidal Drugs
    • Antiglaucoma
    • Others 
  • Ophthalmic Drugs Disease Outlook (Revenue, USD Million, 2017 – 2028)
    • Dry Eye
    • Eye Allergy
    • Glaucoma
    • Eye Infection
    • Retinal Disorders
      • Macular Degeneration
      • Diabetic Retinopathy
      • Others
    • Uveitis
    • Others 
  • Ophthalmic Drugs Dosage Form Outlook (Revenue, USD Million, 2017 – 2028)
    • Gels
    • Eye Solutions
    • Capsules & Tablets
    • Eye Drops
    • Ointments 
  • Ophthalmic Drugs Route of Administration Outlook (Revenue, USD Million, 2017 – 2028)
    • Topical
    • Local Ocular
      • Subconjunctival
      • Intravitreal
      • Retrobulbar
      • Intracameral
    • Systemic 
  • Ophthalmic Drugs Product Type Outlook (Revenue, USD Million, 2017 – 2028)
    • Prescription Drugs
    • OTC Drugs 
  • Ophthalmic Drugs Regional Outlook (Revenue, USD Million, 2017 – 2028)
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa (MEA)

Market Share Insights

  • June 2020: Novartis received label update approval from the U.S. FDA for Beovu (brolucizumab). The update included additional safety information related to retinal vascular occlusion and retinal vasculitis.
  • February 2020: Bridge Biotherapeutics, Inc. acquired an early-stage drug candidate from Konkuk University (KU) for the treatment of a back-eye disorder.

Key Companies profiled:

Some of the prominent players in the ophthalmic drugs market include:

  • Alcon
  • Johnson & Johnson Services, Inc.
  • Bausch Health
  • Allergan
  • Pfizer, Inc.
  • Bayer AG
  • Santen Pharmaceutical Co. Ltd.
  • Genentech, Inc.
  • Novartis AG
  • Regeneron
  • Merck & Co.
  • Coherus Biosciences, Inc.

Order a free sample PDF of the Ophthalmic Drugs Market Intelligence Study, published by Grand View Research.

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