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How has the ophthalmic drugs market grown over the years?

In recent times, the market size for ophthalmic drugs has recorded remarkable expansion. The market is projected to increase from $39.36 billion in 2024 to $42.65 billion in 2025, achieving a compound annual growth rate (CAGR) of 8.3%. Factors contributing to this uptrend during the historical period include the rising number of eye ailment cases, investments in R&D for eye care, lifestyle modifications, a worldwide surge in diabetes instances, and government-backed vision care programs.

What Is the forecasted market size and growth rate for the ophthalmic drugs market?

In the forthcoming years, the ophthalmic drugs market is predicted to experience robust growth. The market is set to expand to “$57.4 billion in 2029, with a compound annual growth rate (CAGR) of 7.7%. The forecasted growth is attributed to biopharmaceutical innovations, a rise in myopia cases, the growth of the elderly population, personalized medicine strategies, and regulatory backing for rare diseases. Key trends for the forecast period include the emphasis on biologics and gene therapies, investment in dry eye therapeutics, glaucoma treatment advancements, the rise of combination therapies, and a focus on age-related macular degeneration (AMD).

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What are the major factors driving growth in the ophthalmic drugs market?

The growth of the ophthalmic drug market is anticipated to be fueled by the increasing prevalence of eye-related disorders. Such disorders encompass any disease or condition that impacts the eye or other elements of the visual system, resulting in visual impairment and other ocular issues. Ophthalmic drugs, which are medicinal products used to manage diseases that affect vision or the eye, are in higher demand as a result of the rising prevalence of these disorders. For instance, the US government agency, Centers for Disease Control and Prevention (CDC), reported in 2022 that 17.2% of Americans aged over 40 will have at least one cataract (approximately 20.5 million people). Hence, the surging occurrence of ophthalmic disorders is steering the growth of the ophthalmic drug market.

What key areas define the segmentation of the global ophthalmic drugs Market?

The ophthalmic drugs market covered in this report is segmented –

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

Subsegments:

1) By Prescription Drugs: Antiglaucoma Agents, Anti-inflammatory Drugs, Antibiotics, Antivirals, Corticosteroids, Other Prescription Drugs

2) By Over-The-Counter Drugs: Artificial Tears, Allergy Relief Medications, Redness Relievers, Ocular Vitamins And Supplements, Other OTC Drugs

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What are the top market players propelling the growth of the ophthalmic drugs industry?

Major companies operating in the ophthalmic drugs market include AbbVie Inc., 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, Akorn Incorporated, GlaxoSmithKline plc, Bayer AG, Senju Pharmaceutical Co. Ltd., Aerie Pharmaceuticals Inc., Kala Pharmaceuticals Inc., Aurobindo Pharma Ltd., Eyevance Pharmaceuticals, Acucela Inc., Dompe Farmaceutici S.p.A., Xbrane Biopharma AB, Laboratoires Théa

What are the key trends shaping the future of the ophthalmic drugs market?

Product advancements stand out as a notable trend in the ophthalmic drug industry. Leading firms in this market are putting substantial efforts into creating fresh solutions to boost their market dominance. Sun Pharmaceutical Canada Inc., a research and development company based in Canada specializing in crafting innovative ophthalmology and dermatology medicines, introduced the ophthalmic drug CEQUA (cyclosporine ophthalmic solution 0.09% w/v) in January 2022. This medication is indicated for the management of dry eye disease in Canada. CEQUA uses nano micellar (NCELL) technology which augments ocular tissue penetration by enhancing the bioavailability and physicochemical stability of cyclosporine.

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What regions are dominating the ophthalmic drugs market growth?

North America was the largest region in the ophthalmic drugs market in 2024. The regions covered in the ophthalmic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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