Market Research Report
Global Ophthalmic Drug Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||444523|
|Published||Content info||124 Pages
Delivery time: 2-3 business days
|Global Ophthalmic Drug Market Forecast 2019-2027|
|Published: June 10, 2019||Content info: 124 Pages||
The global ophthalmic drugs market is anticipated to grow at a CAGR of 4.31% between 2019 and 2027 to generate revenue of $38,473 million by 2027. An existing predominance and increase in the number of eye disorders with a growing geriatric population all over the world are the primary drivers responsible for market growth. With increasing awareness of ophthalmic drugs among the consumers and patients is anticipated to proliferate the market growth.
The technological advancements, rise in eye disorders, growth in geriatric population, cataract surgeries and upsurge in healthcare expenditure are dominant drivers for the growth of ophthalmic drugs market. Vast scope for ophthalmic drugs market is created with the predominance of eye-related disorders and ailments. One major cause of half-blindness and decreased vision is the cataract, which has the highest percentage accountable for worldwide visual impairment. Cataract surgery is risk-free and secure kind of surgery; the safety has led to an increase in the cataract surgeries. The boost in Health expenditure has boosted consumer spending, thus indirectly driving the ophthalmic drugs market.
North America accounts for the largest market share in the global ophthalmic drugs market. Europe accounts for the second largest market share in the global ophthalmic drugs market. Asia-Pacific is estimated to expand at the highest CAGR during the forecast period. Asia-Pacific is also anticipated to emerge as a leading destination for drug development during the forecast years. The rise in the aged population and the existence of dominant market players in the regions are driving the regional markets.
The predominant ophthalmic drugs companies in the global market are Bayer, Allergan Inc., Sun Pharmaceuticals Industries, Ltd., Valeant, GlaxoSmithKline, Apollo Endosurgery, Regeneron, Senju Pharmaceutical Co., Ltd., Abbott Laboratories, Merck & Co., Novartis AG, Roche Holding AG, Pfizer Inc., Cipla Pharmaceuticals, Eyegate Pharmaceuticals, and Johnson and Johnson.