India Ophthalmic Drugs Market Assessment, By Drug Class, By Product Type, By Disease Indication, By Distribution Channel, By Region, Opportunities and Forecast, FY2019-FY2033F

India ophthalmic drugs market is projected to witness a CAGR of 7.62% during the forecast period FY2026-FY2033, growing from USD 308.20 million in FY2025 to USD 554.60 million in FY2033. The rapid expansion of the market in the country can be attributed to the rising prevalence of eye-related disorders, the rapid expansion of the aging population, the strong presence of leading pharmaceutical companies, and the increasing prevalence of lifestyle-related issues. According to the estimates of the United Nations Population Fund (UNFPA), the percentage of the elderly population in India is expected to reach 20% by 2050.

Additionally, rapid advancements in drug formulations and delivery systems to enhance the efficacy of ophthalmic medications are also expected to provide lucrative growth opportunities for the market. Technologies including sustained-release formulations and preservative-free options are gaining traction, improving treatment outcomes and patient compliance. Moreover, the emergence of biosimilars and biologics is also expanding the range of available therapies, catering to the diverse requirements of the patient population.

Increasing Healthcare Expenditure Supports Market Expansion

Rising health expenditure is one of the major drivers of the market. The increasing emphasis on ensuring the availability of high-quality healthcare services and products in the country is propelling the requirement for various eye care treatments. For instance, in BE 2023-24, the health expenditure in India increased to approximately USD 70.2 billion (INR 5.85 lakh crores). The government's focus on enhancing healthcare delivery is resulting in the establishment of specialized eye care centers and programs, which directly support the demand for ophthalmic drugs. Moreover, this increase in expenditure is facilitating advancements in drug research and development, allowing manufacturers to introduce innovative treatments for prevalent conditions such as glaucoma, diabetic retinopathy, and age-related macular degeneration. Additionally, the rise in healthcare spending has also enabled the adoption of advanced drug delivery systems, including preservative-free formulations and sustained-release therapies, improving patient compliance and treatment outcomes. Thus, many pharmaceutical companies are leveraging these opportunities to address the unmet requirements of the market.

Rising Cases of Eye Diseases Boost Market Demand

Conditions such as glaucoma, diabetic retinopathy, macular degeneration, and cataracts are becoming more common in India due to aging demographics, lifestyle changes, and rising incidences of diabetes and hypertension. According to the estimates of an article published in the Indian Journal of Ophthalmology in October 2023, age-related macular degeneration affects approximately 1.4-3.1% of the Indian population. This growing burden of eye-related disorders has thus created a substantial demand for effective pharmaceutical treatments. An increasing number of awareness campaigns about eye health, along with government initiatives aimed at improving access to ophthalmic care, are encouraging patients to seek timely treatment, further bolstering the market's expansion. Additionally, India's large patient pool and its well-established clinical research infrastructure also attract pharmaceutical companies to invest in ophthalmic drug development.

Anti-VEGF Agents Account for Significant Share of the Market

Anti-VEGF agents hold a significant share of the India ophthalmic drugs market due to their effectiveness in treating critical retinal disorders such as diabetic retinopathy, age-related macular degeneration, and retinal vein occlusion, among others. According to an article published in Springer Nature in January 2024, the prevalence of diabetic retinopathy in India is 12.5%. Anti-VEGF therapies target vascular endothelial growth factor, the protein responsible for abnormal blood vessel formation, which can result in loss of vision. By inhibiting VEGF activity, these agents slow disease progression and improve visual outcomes, thus supporting the segment's expansion. These agents are also becoming increasingly popular in the country as they deliver superior anatomical and visual results compared to traditional treatments like laser photocoagulation.

Eye Drops Hold Major Market Share

The dominance of the segment can be attributed to the ease of use associated with eye drops and their ability to address a wide range of ophthalmic diseases, including allergies, glaucoma, and dry eye syndrome, among others. Moreover, the prolonged utilization of digital devices in the country is also driving the demand for eye drops. Additionally, both prescription and over-the-counter (OTC) eye drops cater to diverse patient requirements, further expanding their market share. Additionally, their affordability and easy accessibility through retail pharmacies make them a preferred choice for a larger population base for addressing both minor irritations and chronic conditions. As demand for efficient and user-friendly ophthalmic solutions continues to grow, eye drops are expected to maintain their dominant position in the India ophthalmic drugs market.

Future Market Scenario (FY2026 - FY2033F)

Rapid population growth, expansion of the geriatric population, and increasing awareness about various ophthalmic diseases and disorders and the different treatment options available in the country are expected to provide lucrative growth opportunities for the market. Additionally, increasing government efforts to improve healthcare infrastructure will further support the market's expansion.

Meanwhile, investments in research and development by pharmaceutical companies based in India will support the introduction of innovative treatment solutions, contributing to the sustained growth of the market. Pharmaceutical companies are also focusing on partnering with global players to enhance the affordability and accessibility of ophthalmic drugs in India.

Key Players Landscape and Outlook

The growing collaborations among leading players in the industry to distribute ophthalmic drugs in the country are supporting the market's expansion. For instance, in March 2025, Cipla Limited and Formosa Pharmaceuticals, Inc. entered in an exclusive pact for the commercialization of clobetasol propionate ophthalmic suspension, 0.05% (APP13007), an innovative treatment for pain and post-operative inflammation following ocular surgery across countries including India, Bangladesh, Malaysia, Nigeria, Argentina, South Africa, Nepal, Colombia, Sri Lanka, Myanmar, and Kenya. This new steroid represents a significant advancement in the ophthalmic industry, providing notable patient benefits, thus providing lucrative growth opportunities for the market.

Additionally, in March 2024, Roche Products (India) Pvt. Ltd. launched Vabysmo (faricimab) for treating diabetic macular edema and neovascular or wet age-related macular degeneration. Vabysmo is transforming the existing standard of care for these diseases. The existing treatment options include frequent physician visits and eye injections. Vabysmo reduces the requirement of eye injections to once in four months, while achieving similar anatomical improvements and vision gains.