Ophthalmic Drugs Market 2020 and Forecast 2021-2027

                                          
Report Overview: Ophthalmic Drugs Market


The global ophthalmic drugs market size was valued at USD 29.9 billion in 2020 and is expected to expand at a CAGR of 4.9% from 2019 to 2027. Rising prevalence of eye diseases and disorders along with the presence of a robust pipeline of molecules are some of the key factors driving the growth.

An increase in prevalence of presbyopia, macular degeneration, and diabetic retinopathy is one of the major market drivers. As per the World Health Organization (WHO), in 2019, approximately 2.2 billion people were visually impaired. In addition, over 39 million had vision loss, nearly 188.5 million people suffered from mild vision impairment, and over 217 million people were experiencing moderate to severe vision impairment.

The market for ophthalmic drugs is expected to witness significant growth in the forthcoming years, as multiple manufacturers are increasingly focusing on R&D to develop innovative treatment. The players are engaging in extensive R&D activities to develop novel ophthalmic drugs for the treatment of various eye diseases and disorders and to gain a greater market share.
Drug delivery systems in ophthalmic therapy have undergone major technological advancements in recent years. This remains a key growth driver for the market. For instance, in September 2014, Alimera Sciences Inc. received the Food and Drug Administration (FDA) approval for ILUVIEN, indicated for the treatment of DME. The product’s multiyear drug delivery system lends it a significant edge over competitors. It was designed to deliver 190 mg of the drug over 3 years.

Drug Class Insights: Ophthalmic Drugs Market

Based on drug class, the market is segmented into antiglaucoma agents, anti-inflammatory, anti-allergy, and anti-Vascular Endothelial Growth Factor (anti-VEGF) agents. Anti-VEGF segment held the largest market share in 2019, driven by high adoption rate and presence of global market players with extensive product portfolio. The growth is fueled by the strong commercial performances of Macugen (pegaptanib), Lucentis (ranibizumab), and Avastin (bevacizumab). Rising prevalence of Age-related Macular Degeneration (AMD) and impending launches of several pipeline candidates working on VEGF inhibition principle are anticipated to drive the segment growth at the fastest rate over the forecast period 2021-2027.

Disease Insights: Ophthalmic Drugs Market

On the basis of disease, the market for ophthalmic drugs is categorized into glaucoma, eye infection, dry eye, retinal disorders, eye allergy, and uveitis. In 2019, retinal disorders segment lead the ophthalmic drugs market owing to increasing prevalence of age-related macular degeneration and diabetic retinopathy. As per a conducted study published on the National Center for Biotechnology Information (NCBI), diabetes mellitus is one of the leading risk factors for Dry Eye Syndrome (DES).

Technological advancements and rising strategic collaborations are some of the other factors anticipated to propel the market for retinal disorder treatment. For instance, in October 2018, Ophthotech Corporation (IVERIC bio) entered into an agreement with the University of Florida Research Foundation and the University of Pennsylvania to develop and commercialize an Adeno-Associated Virus (AAV) gene therapy product for the treatment of BVMD.

Dosage Form Insights: Ophthalmic Drugs Market

Based on dosage form, the market is categorized into eye solutions, eye drops, capsules and tablets, ointments, and gels. Eye drops lead the segment in 2019 and is driven by the ease of usage and high patient compliance. Eye solutions & suspensions were the second largest category among dosage forms and are expected to demonstrate the fastest growth over the forecast period. The strong growth is facilitated by a direct drug delivery mechanism as well as impending launches of several ophthalmic solutions and suspensions in the next few years.

Product Type Insights: Ophthalmic Drugs Market

On the basis of product type, the overall market is segmented into prescription and OTC drugs. In 2019, prescription drugs captured the largest share as these are more efficacious than conventional drugs and are associated with fewer adverse effects. The relatively higher price of drugs and improved safety & efficacy profiles are expected to drive moderate growth for this segment in the foreseeable future.

The OTC segment is positioned to demonstrate a strong growth rate, driven by the loss of patent exclusivities of major drugs and consequent rise in generic penetration of ophthalmic drugs. The relatively low cost of these drugs makes it affordable for a large patient base in the low- and middle-economic countries.

Route of Administration Insights: Ophthalmic Drugs Market

Based on the route of administration, the market is segmented into topical, local ocular and systemic route. In 2019, topical route held the largest share and local ocular route was estimated to be the fastest growing segment with a CAGR of 4.2%. The local ocular route is further segmented into subconjunctival, intravitreal, retrobulbar, and intracameral. The intravitreal route was estimated to be the largest segment in 2019 as it is one of the highly efficient methods for delivering drugs into the posterior segment of the eye.


There are various advantages associated with topical route of administration such as therapeutic agents directly can be administered to the site of action leading to high bioavailability, it is non-invasive technique and widely preferred by patients, it minimizes the risk of systemic side effects. Manufacturers have developed various strategies to improve the efficiency of topical drug delivery in ophthalmology that maximizes corneal drug absorption and minimizes precorneal drug loss.

Regional Insights: Ophthalmic Drugs Market

North America commanded majority of the market share in 2019, driven by a high disease burden, rising consumer awareness regarding the advantages of ophthalmic drugs, proactive government measures, technological advancements, and improvements in healthcare infrastructure. The presence of key players in this region is a key propeller of market growth. For instance, according to an article published in BrightFocus Foundation, in 2017, more than 3 million Americans were suffering from glaucoma.

Asia Pacific is expected to expand at a lucrative CAGR over the forecast period improving economic scenario, increase in disposable income, and a large patient pool. Rising new product launch in this region is expected to increase market growth. For instance, in January 2016, Otsuka Pharmaceuticals received approval for Mikeluna in Japan, a combination of ophthalmic solution, indicated for glaucoma and ocular hypertension.
Ophthalmic Drugs Market Share Insights

Some of the major companies in this market include

 	
Bausch & Lomb, Inc.
 	
Novartis AG
 	
 Pfizer, Inc.
 	
Regeneron, Merck Sharp & Dohme Corp.
 	
ALLERGAN PLC
 	
Bayer AG
 	
Johnson & Johnson Services, Inc.
 	
Santen Pharmaceutical Co., Ltd.
 	
 Genentech, Inc.

These focus on mergers & acquisitions, regional expansion, and new product development to increase their market share. For instance, in July 2019, Novartis AG received a positive CHMP opinion for Lucentis, for infants suffering from retinopathy of prematurity.
This report forecasts revenue growth at global, regional, and country level and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global ophthalmic drugs market report on the basis of drug class, disease, dosage form, route of administration, product type, and region:

Drug Class Outlook (Revenue, USD Million, 2015 - 2027)

 	
Antiallergy

Anti-Vascular Endothelial Growth Factor (Anti-VEGF) Agents

 	
Anti-inflammatory
 	
Nonsteroidal Drugs
 	
Steroidal Drugs
 	
Antiglaucoma
 	
Others

Disease Outlook (Revenue, USD Million, 2015 - 2027)

 	
Dry Eye
 	
Eye Allergy
 	
Glaucoma
 	
Eye Infection
 	
Retinal Disorders
 	
Macular Degeneration
 	
Diabetic Retinopathy
 	
Others
 	
Uveitis
 	
Others

Disease Outlook by Dosage Form (Revenue, USD Million, 2015 - 2027)

 	
Dry Eye
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye Drops
 	
Ointments
 	
Allergies
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye drops
 	
Ointments
 	
Glaucoma
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye drops
 	
Ointments
 	
Inflammation/Infection
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye drops
 	
Ointments
 	
Retinal Disorders
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye drops
 	
Ointments
 	
Uveitis
 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye drops
 	
Ointments
 	
Others

Dosage Form Outlook (Revenue, USD Million, 2015 - 2027)

 	
Gels
 	
Eye Solutions
 	
Capsules & Tablets
 	
Eye Drops
 	
Ointments

Route of Administration Outlook (Revenue, USD Million, 2015 - 2027)

 	
Topical
 	
Local Ocular
 	
Subconjunctival
 	
Intravitreal
 	
Retrobulbar
 	
Intracameral
 	
Systemic

Product Type Outlook (Revenue, USD Million, 2015 - 2027)

 	
Prescription Drugs
 	
OTC Drugs