Ophthalmic Drugs Market to Grow due to Increasing Competition, Increasing Healthcare Expenditure

Market Overview:

The global Ophthalmic Drugs Market is expected to exhibit a strong 6% CAGR over the forecast period, according to the latest research report from Market Research Future (MRFR).

Competitive Analysis:

·         Valeant Pharmaceuticals International In

·         Teva Pharmaceutical Industries Ltd

·         Sun Pharmaceutical Industries Ltd

·         Shire plc

·         Santen Pharmaceutical Co

·         Regeneron Pharmaceuticals Inc

·         Pfizer Inc

·         Merck & Co

·         Genentech Inc

·         Bausch & Lomb Inc

·         Allergan plc

·         Actavis Generics

Segmentation:

·         The global ophthalmic drugs market is segmented on the basis of indication, drug class, type of dosage, product, and distribution channel.

·         On the basis of indication, the market is classified as glaucoma, retinal disorders, inflammation/infection, dry eye, allergies, uveitis, and others.

·         On the basis of drug class, the market is classified as antiallergy, anti-VEGF agents, anti-inflammatory, antiglaucoma, and others. The anti-inflammatory segment is further segmented into nonsteroidal drugs and steroidal drugs.

·         On the basis of type of dosage, the market is classified as eye drops, eye solutions, ointments, capsules and tablets, and gels.

·         On the basis of the product, the market is classified as prescription drugs and OTC drugs.

·         On the basis of the distribution channel, the market is classified as hospital pharmacies, online pharmacies, drug stores, and others.

Regional Analysis:

The Americas dominates the global ophthalmic drugs market and is likely to remain the leading regional market over the forecast period due to the rising prevalence of ophthalmic conditions and the high healthcare expenditure in the region. Glaucoma accounts for up to 10 million visits to the physician in the U.S., leading to considerable expenses and demand for drugs. More than 120,000 in the U.S. are blind because of glaucoma. These numbers are highly good news for the ophthalmic drugs market in the Americas. The growing patient population suffering from ophthalmic diseases is likely to drive the Americas market for ophthalmic drugs over the forecast period. North America is likely to remain the leading revenue generator in the global ophthalmic drugs market over the forecast period.

Europe is likely to hold on to the second place in the global ophthalmic drugs market over the forecast period due to a similar set of reasons. The growing patient population in Europe for ophthalmic diseases is a major driver for the ophthalmic drugs market in the region. Growing awareness about ophthalmic diseases is also likely to be a major driver for the ophthalmic drugs market in Europe over the forecast period. Increasing government support to healthcare research is also likely to be a key driver for the ophthalmic drugs market in Europe over the forecast period, as governments in the region have exhibited strong support for medical research in the last few years. Strong presence of a medical research sector in the ophthalmology sector is likely to drive the Europe market for ophthalmic drugs in the coming years. The increasing competition in the healthcare sector is also likely to drive the ophthalmic drugs market in Europe over the forecast period.