The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s ophthalmic drugs market report forecasts the ophthalmic drugs market size to grow to $49.21 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Ophthalmic Drugs Market Size Forecast
The global ophthalmic drugs market is expected to grow from $34.02 billion in 2022 to $36.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.07%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ophthalmic drugs market size is expected to reach $49.21 billion in 2027 at a CAGR of 7.56%.

North America held the largest ophthalmic drugs market share.

Key Ophthalmic Drugs Market Driver ­– Increase In The Prevalence Of Ophthalmic Disorders
According to the multinational Agency for the Prevention of Blindness (IAPB), a UK-based multinational partnership that promotes eye health, the number of persons with visual loss was 1,106 million in 2020, and it is expected to rise by 55% (1758 million) by 2050. The ophthalmic medication industry is being driven by the rising prevalence of ocular illnesses.

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Key Ophthalmic Drugs Market Trend – Product Innovations
Major players in the ophthalmic medicine industry are focusing on finding innovative solutions to increase their market position. Sun Pharmaceutical Canada Inc., a Canadian research and development company specialising in the development of innovative medicines in dermatology and ophthalmology, will launch the ophthalmic drug CEQUA (cyclosporine ophthalmic solution 0.09% w/v) for the treatment of dry eye disease in Canada in January 2022. CEQUA contains nano micellar (NCELL) technology. By enhancing the bioavailability and physicochemical stability of cyclosporine, nanomicellar technology improves ocular tissue penetration.

Ophthalmic Drugs Market Segment
1) By Type: Prescription Drugs, Over-The-Counter Drugs
2) By Class: Anti-Allergy, Anti-Inflammatory, Anti-Glaucoma, Other Classes
3) By Disease: Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders, Uveitis, Other Diseases
4) By Dosage Form: Liquid Ophthalmic Drug Forms, Solid Ophthalmic Drug Forms, Semisolid Ophthalmic Drug Forms, Multicompartment Drug Delivery Systems
5) By Distribution Channel: Hospital Pharmacies, Drug Stores, Online Pharmacies

Ophthalmic Drugs Market Major Players and Strategies
Major players in the ophthalmic drugs market are Abbvie Inc. (Allergan), Alcon Inc., Bausch & Lomb Incorporated, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd, Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc, Nicox S.A., Coherus Biosciences Inc., Johnson & Johnson, Otsuka Pharmaceutical Co. Ltd., Viatris Inc., Mitotech SA, and Akorn Incorporated.

Alcon Inc., a Swiss eye care firm, paid an undisclosed sum for Aerie Pharmaceuticals, Inc. in November 2022. Alcon adds the commercial medicine Rhopressa and the pipeline drug Rocklatan to its portfolio, as well as pharmaceutical research and development skills that will allow it to commercialise Aerie’s pipeline ophthalmic drugs. Aerie Pharmaceuticals, Inc. is a research and development firm established in the United States that specialises in the discovery, development, and marketing of medications for ophthalmic illnesses such as dry eye, glaucoma, and others.

The Ophthalmic Drugs Global Market Report 2023 covers regional data on ophthalmic drugs market size, ophthalmic drugs market trends and drivers, opportunities, strategies, and ophthalmic drugs market competitor analysis. The countries covered in the ophthalmic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Ophthalmic pharmaceuticals are a type of pharmaceutical treatment or medicine used to treat illnesses of the eye or eyesight. This drug is used to treat eye infections.

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