Reliable Data You Can Trust
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A recent report published by Infinium Global Research on the optical disorder drugs market provides an in-depth analysis of segments and sub-segments in the global as well as regional optical disorder drugs market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional optical disorder drugs market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global optical disorder drugs market. According to the report, the global optical disorder drugs market is projected to grow at a CAGR of nearly 6% over the forecast period of 2022-2028.
The revenue generated by the optical disorder drugs market was over USD 40 billion in 2022 and is expected to reach about USD 57 billion in 2028 and is expected to grow with a CAGR of nearly 6% over the forecast period 2022-2028. Optical disorder drugs are used for the emergency treatment of sudden and severe glaucoma. Such drugs are used to reduce the pressure in the eye by reducing fluid buildup. Furthermore, for managing short-term glaucoma, oral carbonic anhydrase inhibitors are also used to treat eye-related disorders because it reduces the amount of fluid within the eye. Moreover, the primary methods used for administering medication to the eye are topical, local ocular, and systematic. The local ocular is from which under the conjunctival tissue or into the vitreous portion of the eye, and the systematic method includes injection or given by mouth. Additionally, optical disorder drugs are used to treat many conditions of the eye like infectious diseases, wounds or trauma, inflammation, and more. Human beings face many issues related to the eye when they reach a particular stage of age. Hence, there is enormous demand for optical disorders drugs in the healthcare sector.
Age-related macular degeneration is increasing dramatically, which is projected to drive market growth. The Centre for Disease Control and Prevention stated that macular degeneration, usually called age-related macular degeneration (AMD), is an eye disorder associated with aging and damages sharp and central vision. AMD affects the macula, which is the center part of the retina that allows the eye to see fine details. There are two forms of AMD- wet and dry, from which it is seen that there is an increasing number of patients suffering from dry AMD. For instance, it is estimated that over 1.8 million Americans who are aged 40 years and older are affected by AMD, and an additional 7.3 million with large drusen are at substantial risk of developing AMD. Therefore, AMD is a leading cause of permanent impairment of reading and fine or close-up vision among people aged 65 years and older, driving the growth of the optical disorder drugs market. However, the side effects of optical disorders oral drugs are expected to hamper the market growth during the forecast period. The drugs consumed orally potentially affect all parts of the body, including the eye. Due to the rich blood supply and relatively small mass, there is an increase in the eye's susceptibility to drug-related adverse effects. Because of such side effects of optical disorder drugs, there is a negative impact on the market, which is expected to limit the market's growth over the forecast period. Nevertheless, rising disposable income and massive development in ophthalmology are the prime factors generating spectacular optical disorder drugs market opportunities.
The COVID-19 outbreak had a significant impact on daily ophthalmology services across the world and the long-term effects are projected to impact industry growth during the forecast period. Retinal screening is not necessary for coronavirus patients taking chloroquine or hydroxychloroquine as the chances of toxic damage to the retina are less due to the short duration of drug therapy. Due to lockdowns imposed by the government people who were restricted from moving out of their houses have been clinically impacted by reducing the number of doctor visits, avoiding specific treatment options, applying extra tools, and implementing new techniques. Tele-ophthalmology (an evolving integral clinical tool) and AI are preferred for increasing doctor-patient interaction. Boundaries closed by the countries significantly obstructed the supply chain activities of the optical disorders drugs market with a slight decline in growth rate.
The optical disorder drugs market is segmented into North America, Europe, Asia Pacific, and the rest. The North American region dominates the market by holding the largest market share in the global optical disorders drugs market. For instance, North America earns the largest revenue share in 2021 due to the increasing prevalence of cataracts and gene therapy adoption. Furthermore, the American Association for Pediatric Ophthalmology and Strabismus states that cataract remains the leading cause of blindness and vision loss globally. Visual impairment impacts an individual's quality of life by hindering their ability to perform daily living activities, work, and care for dependents. Moreover, in countries like Ontario and Canada, there is enormous cataract demand which is expected to slow the growth of publically-funded outpatient operative capacity, increasing the demand for optical disorder drugs in the region. Furthermore, the European region is the second-largest region in revenue generation of the visual disorder drug market. However, due to factors like the improved distribution network of crucial pharmaceutical players, the proactive government of the countries that are trying to prevent and control blindness is likely to propel the growth of the optical disorder drugs market in the Asia Pacific region during the forecast period.
The report on the global optical disorder drugs market covers segments such as prescription type, therapeutics, and end user. On the basis of prescription type, the sub-markets include over-the-counter drugs, and prescription ophthalmic drugs. On the basis of therapeutics, the sub-markets include age-related macular degeneration, conjunctivitis, diabetic retinopathy, dry eye, eye cancer, and others. On the basis of end user, the sub-markets include diagnostic centers ophthalmic drugs, eye clinics ophthalmic drugs, and patient ophthalmic drugs.
The report provides profiles of the companies in the market such as Apollo Endosurgery, Cipla Pharmaceuticals, GlaxoSmithKline, Merck & Co., Novartis AG, Pfizer, Inc., Roche Holding AG, Santen Pharmaceutical Co., Ltd., Senju Pharmaceutical Co., Ltd., and Sun Pharmaceuticals Industries, 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 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 optical disorder drugs market. Moreover, the study highlights
current market trends and provides forecast from 2022-2028. 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 insight into the market share of the leading players.
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