A recent report published by Infinium Global Research on ophthalmic drugs market provides in depth analysis of segments and sub-segments in global as well as regional ophthalmic drugs market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional ophthalmic drugs market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ophthalmic drugs market. According to report the global ophthalmic drugs market is projected to grow at a CAGR of 5.4% over the forecast period of 2017-2023.
Ophthalmic drugs are the drugs designed for the treatment of eye diseases and disorders. This administration of drug can be done by instillation of a cream, an ointment, or a liquid drop preparation in the conjunctiva SAC. The correct strength and amount of the drug are selected, and the medication is instilled into the eye or eyes as directed. The main reason of continuingly strong interest of scientists in these drugs forms is the problem of a low bioavailability of medicinal substance after the application to the eyeball. The ability to increase the bioavailability of the active substances, reducing the susceptibility of drug forms to defense mechanisms of the human eye, extending contact time of drug with the cornea, increasing the penetration through the complex anatomical structure of the eye, and providing controlled release of drugs into the eye tissues which allows reducing the drug application frequency, witnesses the importance of ophthalmic drugs among the aging population suffering from eye disorders are some of the factors contributing to the growth in the global ophthalmic drugs market.
Figure 1: Global Ophthalmic Drugs Market by Value 2015-2023
The key factors driving the growth of ophthalmic drugs market are considered to be increasing geriatric population with rising global population, increase in prevalence of eye disorders, technological advancement, and increasing awareness in healthcare spending. Moreover, challenges faced by ophthalmic drugs market include absence of health insurance in developing countries regarding eye diseases and lack of awareness among the people regarding eye diseases and disorders in underdeveloped and developing countries. One of the key opportunities for new entrants is securing drugs through a licensing agreement with major players such as novartis and bayer, which could boost their growth over the forecast period.
The report on global ophthalmic drugs market covers segments such as, disease condition and dispenses type. On the basis of disease condition the global ophthalmic drugs market is categorized into allergy, glaucoma, dry eye disorder and retinal disorder. On the basis of dispense type the global ophthalmic drugs market is categorized into prescription and over the counter.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023.
Figure 2: Global Ophthalmic Drugs Market by Region, CAGR % 2017-2023
The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
The report provides profiles of the companies in the global ophthalmic drugs market such as, Abbott Healthcare, Allergan Plc, Johnson & Johnson, Bayer, Valeant Pharmaceuticals, Inc., Pfizer, Inc., Merck & Co., Novartis AG, Renegeron and Santen Pharmaceuticals Company Ltd.
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global ophthalmic drugs market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ophthalmic drugs market. Moreover, the study highlights current market trends and provides forecast from 2017-2023. We also have highlighted future trends in the ophthalmic drugs market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. This report will help manufacturers, suppliers and distributors of the ophthalmic drugs market to understand the present and future trends in this market and formulate their strategies accordingly.
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