Triton Market Research presents their ophthalmic drugs market report segmented by prescription types ( OTC and prescribed); by therapeutics (diabetic macular edema, eye cancer, diabetic retinopathy, retinal vein occlusion, glaucoma, age-related macular degradation, lens opacification and intraocular lens, and others); by end-users (hospitals, eye clinics ophthalmic drugs, diagnostics centers ophthalmic drugs and patient ophthalmic drugs); and by geographical region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
Triton Market Research expects the global ophthalmic drugs market to witness a compound annual growth rate of 4.43% during the forecast period 2019-2027. The market growth is being propelled by factors like rising occurrence of eye diseases, advancement in medical technology and the growing geriatric population worldwide. Over the forecast period of 2019-2027, the market is likely to witness steady progress due to the presence of opportunities like the introduction of novel ophthalmic treatments and more scope for market flourishment in emerging economies. However, several market companies are wary of issues like delays in drug approvals and brand patent expirations.
Within the global ophthalmic drugs market, the OTC (over the counter) drugs hold the highest share. These drugs are sold directly to a consumer without any prescription from a healthcare professional, as opposed to prescription drugs. OTC drugs are usually regulated by active pharmaceutical ingredients (APIs), allowing manufacturers to easily formulate ingredients, or combinations of ingredients. The biggest end-user of this market are eye-clinics and hospitals. In the Eye Care Clinic, optometrists perform routine eye exams, dispense contact lenses and detect eye disease. The market is also finding increased use in eye cancer therapeutics. Eye cancers generally affect orbit (eye socket), eyeball, and adnexal (accessory) structures.
Over the forecast period, the Asia-Pacific ophthalmic drugs market is likely to showcase the highest CAGR. Earlier the diagnosis rate for ocular diseases was much less in this region as compared to developed economies like Europe and North America. However, due to improving economic conditions and a significant increase in elderly population with high incidences of eye disease, the Asia-Pacific region is providing scope for the global ophthalmic drugs market to expand over the forecast period.
The degree of competitive rivalry among existing market companies is quite high in this market as the same medicines are available at each pharmacy with no switching costs. Some of the leading company profiles discussed in Triton Market Research’s global ophthalmic drugs market report are Merck & Co, Santen Pharmaceutical Co. Ltd, Abbott Laboratories, Novartis Ag, Apollo Endosurgery, Roche Holding Ag, Johnson And Johnson, Regeneron, Allergan Inc., Sun Pharmaceuticals Industries, Pfizer Inc., Valeant, Eyegate Pharmaceuticals, Bayer, Glaxosmithkline, Akron and Eyemed.
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