Global Ophthalmic Disease Therapeutics Market Size, Share, Growth Analysis, By Disease indication(Glaucoma, Retinal disease), By Drug Class(Anti-Inflammatory, Anti - infective) - Industry Forecast 2023-2030

Ophthalmic Disease Therapeutics Market is estimated to reach USD 47.831 billion at a CAGR of 6.1% during the forecast period (2022-2028).

With the increasing prevalence of ocular diseases worldwide and a growing demand for vision care and treatment on a global scale, the National Eye Institute projects that the annual cost of vision loss and eye-related ailments to the U.S. economy amounts to a substantial $139 billion. This foreseen expansion of the global ophthalmic therapeutics market is primarily attributed to the escalating prevalence of blindness.

Prominent pharmaceutical companies are dedicating significant resources to research and develop innovative therapies for treating retinal disorders. As a result, it is expected that cutting-edge treatments will receive approval in the near future, thus propelling the growth of the ophthalmic disease therapeutics market. Furthermore, the introduction of affordable ocular drugs by local manufacturers in Asian countries has paved the way for the development of Over-the-Counter (OTC) therapeutics, which is anticipated to contribute to increased revenue in the global ophthalmic disease therapeutics market during the forecast period.

The market currently offers a range of medication classes, including anti-inflammatory, anti-infectives, anti-VEGF, anti-glaucoma, and others. Among these, anti-inflammatory medications held the largest share, accounting for 27% of ocular disease therapies in 2022, and are expected to maintain their dominant position throughout the forecast period.

Top-down and bottom-up approaches were used to estimate and validate the size of Ophthalmic Disease Therapeutics and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Ophthalmic Disease Therapeutics Market Segmental Analysis

Ophthalmic Disease Therapeutics Market is segmented based on the disease indication, drug class, and region. Based on the disease indication, the market is segmented as a glaucoma, retinal disease, dry eye disease, allergy & infection. Based on drug class, the market is segmented into anti-inflammatory, anti - infectives, anti- vegf, anti-glaucoma. Based on region, the global market segmentation spans North America, Europe, Asia-Pacific, Latin America, and MEA.

Ophthalmic Disease Therapeutics Market Analysis by Drug Class

Due to a surge in cases of allergic conjunctivitis and hypersensitivity reactions, as well as a growing need for anti-inflammatory drugs to address various conditions like uveitis, cystoid macular edema, and scleritis, the anti-inflammatory sector experienced remarkable expansion in 2022 and is expected to maintain its leading position in the foreseeable future. Nevertheless, owing to the rising prevalence of allergic conjunctivitis, the anti-infectives segment is projected to undergo substantial growth during the forecast period.

Ophthalmic Disease Therapeutics Market Analysis by Disease

Based on specific disease indications, the market is categorized into various segments, including allergies, infections, glaucoma, retinal disorders, and dry eye diseases. Notably, the retinal disorders segment experienced substantial growth in 2022, primarily attributed to a rise in diabetes cases worldwide. According to projections from the Centers for Disease Control and Prevention (CDC), the number of Americans with diabetic retinopathy is expected to increase to 14.6 million by 2050, a significant surge from 7.7 million in 2010. It has been found that this condition can lead to permanent vision loss if left untreated. Consequently, the ophthalmology industry is expected to respond by developing and manufacturing ophthalmic medications, further stimulating market expansion.

Global Ophthalmic Disease Therapeutics Market Regional Insights

The Asia Pacific market for ocular drugs is experiencing remarkable growth, driven by an enhanced distribution system to meet the increasing demand. The region is expected to have the highest Compound Annual Growth Rate (CAGR) in this sector. Meanwhile, North America holds a significant position in the ophthalmic disease therapeutics market, generating revenues of US$14 billion in 2023. This is mainly attributed to the high prevalence of retinal diseases in the United States and the introduction of potent ophthalmic disease therapeutics in the country. Europe follows North America as the second leading region in terms of revenue. Throughout the projection period, Asian countries are anticipated to witness a surge in ophthalmic disease therapies, thanks to the improved distribution network of major pharmaceutical firms and the implementation of robust government measures to prevent and control blindness.

Global Ophthalmic Disease Therapeutics Market Dynamics

Ophthalmic Disease Therapeutics Market Driver

Presence of small and mid-sized organizations to boost the market growth

Prominent players in the ophthalmic disease therapeutics industry include Allergan plc, F. Hoffmann-La Roche AG, and Regeneron Pharmaceuticals, Inc. The global market is characterized by significant fragmentation, with numerous small and mid-sized regional competitors gaining traction.

Macular degeneration, macular edema, and retinal vein occlusion are among the major ophthalmic diseases treatable with widely recognized medications such as Eylea from Regeneron Pharmaceuticals, Inc., and Lucentis from F. Hoffmann-La Roche AG.

Ophthalmic Disease Therapeutics Market Restraint

During the projected timeframe, the market growth is anticipated to be hindered due to the extended manufacturing and formulating processes of ophthalmic drugs, coupled with the accompanying side effects these drugs may induce.

Global Ophthalmic Disease Therapeutics Market Competitive Landscape

The market for ophthalmic disease therapeutics exhibits a considerable degree of fragmentation, leading to intense competition among companies. To stay ahead in this dynamic landscape, these companies are actively engaged in introducing innovative products and undertaking various initiatives to enhance customer experiences and achieve global expansion. Recognized players in the industry are diligently broadening their customer reach through diverse strategies, while simultaneously forging inventive partnerships with emerging businesses, all aimed at bolstering market dominance and overall profitability.

Top Players in the Global Opthalmic Disease Therapeutics Market

Merck and Co., Inc.

Pfizer, Inc.

Novartis AG

Allergan plc

F. Hoffmann-La Roche AG

Regeneron Pharmaceuticals, Inc.

Santen Pharmaceutical Co., Ltd.

Bayer AG

Bausch and Lomb, Inc.

Ophthalmic Disease Therapeutics Market Recent Developments

In Feb 2021, Dextenza, a product by Ocular Therapeutix was made available in the market. This product enables the course of steroid therapy possible just with a single installation of intracanalicular device.

In June 2020, the collaboration agreement between Aerie Pharmaceuticals, Inc. and DSM Biomedical, Inc. has been extended to include innovative drug delivery techniques in ophthalmology.

Key Market Trends

Global Ophthalmic Disease Therapeutics Key Market Trends

Technological progress in the field of ophthalmology has led to the creation of innovative imaging techniques and surgical instruments, enhancing the well-being of patients afflicted with eye ailments. A prime example of such progress is the adoption of femtosecond lasers in cataract surgery, which significantly enhances precision and reduces the likelihood of complications.

The realm of personalized medicine has experienced a surge in attention owing to the emergence of targeted therapies. Consequently, novel medications are being designed to cater specifically to individual patient requirements, marking a significant step forward in medical advancement.

Global Ophthalmic Disease Therapeutics Market SkyQuest Analysis

SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

Based on our comprehensive analysis, the Global Ophthalmic Disease Therapeutics report presents a detailed industry overview, emphasizing crucial elements such as key players, sources, products, and applications. The research highlights notable developments within the sector and offers valuable market trend insights and competitive landscape assessments. Additionally, the study covers various other factors that have significantly contributed to the market's growth in recent times.