A recent report published by Infinium Global Research on ophthalmic drugs market provides in-depth analysis of segments and sub-segments in the 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.
The ophthalmic drugs market is growing rapidly, fueled by the rising prevalence of eye disorders like glaucoma, age-related macular degeneration, and diabetic retinopathy. Treatments, including anti-VEGF agents and anti-inflammatory medications, are enhanced by advancements in drug delivery systems such as sustained-release implants and preservative-free eye drops. Innovations like gene therapy and tele-ophthalmology are improving patient outcomes and access. However, the market faces challenges such as high costs, poor bioavailability of conventional drugs, competition from cost-effective alternatives, and regulatory hurdles.
The increasing geriatric population is significantly driving the ophthalmic drugs market, as older individuals are more susceptible to age-related eye disorders like glaucoma and cataracts. With rising life expectancy, there is a growing demand for effective long-term treatment options. This demographic shift is fueling the consumption of prescription drugs and encouraging pharmaceutical companies to develop innovative formulations for older patients. Additionally, heightened awareness and early diagnosis of eye disorders are further boosting the market. Public health campaigns and routine screenings are prompting individuals to seek timely treatment, leading to proactive use of ophthalmic drugs. However, the high cost of advanced therapies, such as anti-VEGF agents and biologics, poses a challenge, particularly in developing regions where healthcare coverage may be limited. Nonetheless, advancements in drug delivery systems are opening new opportunities by enhancing treatment efficacy and patient compliance. Innovations like sustained-release implants and nanotechnology-based carriers improve drug delivery, reduce the need for frequent dosing, and are expected to drive future market growth.
Anti-VEGF agents dominated the market with about 33.2% of the global share, driven by the rising prevalence of retinal disorders. This growth is supported by increased research and the introduction of new drugs. For example, in February 2023, Bayer AG applied for regulatory approval for aflibercept 8 mg for conditions like neovascular age-related macular degeneration and diabetic macular edema. Additionally, gene and cell therapy segments are expected to grow rapidly, driven by their high efficacy and increasing product approvals. OHSU Casey Eye Institute, for instance, offers gene therapy for inherited retinal diseases linked to mutations in the RPE65 gene.
Retinal disorders led the market segment and are expected to grow rapidly due to the rising incidence of these conditions and the demand for effective treatments. The National Eye Institute projects that around 14 million Americans will suffer from diabetic retinopathy by 2050. Key treatments include Lucentis, Eylea, and Avastin, with Platelet-Derived Growth Factor (PDGF) therapy emerging as a potential breakthrough. The infection segment is also set for significant growth, driven by the high prevalence of eye infections like bacterial conjunctivitis. Trachoma, caused by Chlamydia trachomatis, affects 38 countries and is a major cause of blindness. The WHO estimates economic costs of trachoma at USD 2.9-5.3 billion annually, with efforts like the SAFE strategy aiming for global elimination by 2030. In 2023, 130,746 corrective surgeries were performed, and 32.9 million people were treated with antibiotics.
Prescription drugs held the largest revenue share in the forecasted period, primarily driving increased healthcare spending, supported by private and public initiatives. For example, in May 2023, the U.S. FDA approved Bausch & Lomb and Novaliq’s Miebo, the first prescription eye drop for treating dry eye disease (DED). Additionally, Bausch Health launched XIPERE in March 2022 for macular edema associated with uveitis. Increasing R&D in biologics and gene therapies is expected to boost the approval rate of new prescription drugs. Meanwhile, OTC drugs are projected to grow rapidly, driven by the rise of generics following patent expirations, making them more affordable in low- and middle-income countries.
The eye drops segment dominated the market and is expected to grow rapidly due to their preference for treating ocular diseases like allergies and glaucoma. Companies are investing in new treatments; for example, Bausch & Lomb and Novaliq GmbH reported positive Phase 3 results for NOV03, a preservative-free eye drop for dry eye disease, which could become the first FDA-approved treatment for this condition. The eye solutions & suspensions segment is also poised for significant growth, as they allow direct drug delivery. Common products include Moxeza and Ocuflox, which may contain excipients to enhance stability and bioavailability. Notably, Sun Pharma launched CEQUA 0.09% in January 2022, a novel treatment for dry eye affecting over 6 million Canadians.
The topical route of administration dominated the market, with forms such as suspensions, solutions, and ointments. The cornea presents significant absorption barriers, but the availability of various OTC ophthalmic decongestants like phenylephrine and oxymetazoline drives this segment. Oxymetazoline is used to alleviate symptoms of allergic conjunctivitis. The local ocular route is expected to grow rapidly, allowing direct drug entry into the blood-retinal barrier for maximum bioavailability in eye tissues. In May 2022, Alcon acquired Eysuvis eye drops and Inveltys corticosteroid, enhancing its product offerings. However, the invasive nature of intraocular delivery poses risks such as retinal hemorrhage and other complications.
Branded drugs dominated the market due to rising demand for innovative therapies for conditions like dry eye and glaucoma, where current treatments offer only temporary relief. Companies are focusing on developing long-acting, hands-free therapies. Ophthalmic pharmaceutical firms are also pursuing strategic collaborations and acquisitions to expand their product pipelines, which is expected to drive market growth. The generic drugs segment is projected to grow the fastest, driven by cost-effectiveness and the patent expirations of branded drugs. Generics are similar to brand-name medications in terms of safety and quality but are typically less expensive, making them more accessible, especially in developing economies. Government initiatives are further encouraging the development of generics. For instance, in September 2021, the U.S. FDA approved the first biosimilar to Byooviz (SB-11) for various eye conditions, contributing to market growth.
North America is expected to dominate the ophthalmic drugs market during the forecast period. This dominance is attributed to the high prevalence of eye disorders such as glaucoma, AMD, and diabetic retinopathy, coupled with a well-established healthcare infrastructure and strong presence of leading pharmaceutical companies. Favourable reimbursement policies, advanced R&D capabilities, and the rapid adoption of innovative therapies such as biologics and sustained-release formulations further boost the region’s market share. Additionally, rising awareness campaigns and early diagnosis initiatives strengthen the demand for ophthalmic drugs in the U.S. and Canada. Moreover, the Asia-Pacific is expected to be the fastest-growing region in the ophthalmic drugs market during the forecast period. The rapid growth is driven by a rising geriatric population, increasing prevalence of eye disorders such as myopia and diabetic retinopathy, and expanding healthcare infrastructure across countries such as China, India, and Japan. Growing awareness of eye health, improving access to advanced treatments, and a surge in healthcare spending are boosting drug adoption. Additionally, strong government initiatives and the entry of global pharmaceutical companies are accelerating market growth in the region.
In December 2024, Santen Pharmaceutical Co., Ltd. announced that the Ministry of Food and Drug Safety in South Korea and the Drug Administration of Vietnam have accepted the New Drug Application for STN1013001. This medication is intended to lower intraocular pressure (IOP) in adult patients with open-angle glaucoma or ocular hypertension.
In August 2023, Regeneron Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) approved EYLEA HD (aflibercept) Injection 8 mg for the treatment of patients with wet age-related macular degeneration (wAMD), diabetic macular edema (DME), and diabetic retinopathy (DR).
In March 2022, Novartis received European Commission approval for Beovu, used for patients with diabetic macular edema.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 35.53 Billion |
| Market Size by 2032 | USD 73.99 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 8.54% |
| Largest Market | North America |
| No. of Pages | 100 |
| Market Drivers |
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| Market Segmentation | By Drug Class, By Disease Type, By Product Type, By Dosage Form, By Route of Administration, and By Drug Type |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global ophthalmic drugs market provides a detailed analysis of segments in the market based on Drug Class, Disease Type, Product Type, Dosage Form, Route of Administration, and Drug Type.
· Anti-allergy
· Anti-inflammatory
· Non-steroidal Drugs
· Steroidal Drugs
· Anti-VEGF Agents
· Anti-glaucoma
· Others
· Allergies
· Infection
· Glaucoma
· Retinal Disorders
· Uveitis
· Dry Eye
· Others
· Prescription Drugs
· Over-the-counter-drugs
· Eye Solutions & Suspensions
· Gels
· Capsules & Tablets
· Eye Drops
· Ointments
· Systematic
· Topical
· Local Ocular
· Branded Drugs
· Generic Drugs
· Bausch + Lomb
· F. Hoffmann-La Roche Ltd
· AbbVie Inc.
· Bayer AG
· Regeneron Pharmaceuticals Inc.
· Nicox
· Alcon Inc.
· Merck & Co., Inc.
· Pfizer Inc.
· Santen Pharmaceutical Co., Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into 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 the ophthalmic drugs market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.