PUBLISHER: The Business Research Company | PRODUCT CODE: 1668468
PUBLISHER: The Business Research Company | PRODUCT CODE: 1668468
Ophthalmic drugs comprise pharmaceuticals used to treat various eye-related conditions and vision impairments. These medications are often employed in addressing eye infections.
Two primary categories of ophthalmic drugs exist prescription drugs and over-the-counter (OTC) drugs. Prescription ophthalmic drugs necessitate a licensed doctor's or medical practitioner's prescription for acquisition. They encompass classes such as anti-allergy, anti-inflammatory, anti-glaucoma, and others, catering to conditions such as dry eye, eye allergies, glaucoma, eye infections, retinal disorders, uveitis, among others. These drugs are available in diverse dosage forms, including liquid, solid, semisolid, and multicompartment drug delivery systems. Distribution channels for these medications span hospital pharmacies, drugstores, and online pharmacies.
The ophthalmic drugs market research report is one of a series of new reports from The Business Research Company that provides ophthalmic drugs market statistics, including ophthalmic drugs industry global market size, regional shares, competitors with an ophthalmic drugs market share, detailed ophthalmic drugs market segments, market trends, and opportunities, and any further data you may need to thrive in the ophthalmic drugs industry. The ophthalmic drugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The ophthalmic drugs market size has grown strongly in recent years. It will grow from$39.36 billion in 2024 to $42.65 billion in 2025 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to the increasing incidence of eye disorders, R&D investments in eye care, changing lifestyles, global increase in diabetes cases, and government initiatives for vision care
The ophthalmic drugs market size is expected to see strong growth in the next few years. It will grow to $57.4 billion in 2029 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to biopharmaceutical innovations, increasing prevalence of myopia, expanding aging population, personalized medicine approaches, and regulatory support for rare diseases. Major trends in the forecast period include biologics and gene therapies, increased focus on dry eye therapeutics, advancements in glaucoma treatment, the emergence of combination therapies, and a focus on age-related macular degeneration (AMD).
The rising incidence of ophthalmic disorders is expected to drive growth in the ophthalmic drug market in the future. Ophthalmic disorders encompass a range of diseases and conditions that affect the eye and its associated structures, leading to vision impairment and other eye-related issues. Ophthalmic drugs are pharmaceutical products specifically designed to treat these eye diseases, and as the prevalence of ophthalmic disorders increases, so does the demand for these medications. For instance, the Centers for Disease Control and Prevention (CDC), a U.S. government agency, reported that in 2022, 17.2% of Americans aged 40 and older were projected to have cataracts in at least one eye, which translates to approximately 20.5 million people. Thus, the growing prevalence of ophthalmic disorders is fueling the expansion of the ophthalmic drug market.
The upsurge in healthcare spending is anticipated to bolster the growth of the ophthalmic drugs market. Healthcare expenditure, comprising expenses related to medical care, including medications for eye-related conditions, significantly influences the growth of the ophthalmic drugs sector within the overall healthcare budget. Notably, the Canadian Institute for Health Information forecasted a 0.8% increase in total health spending in Canada from $328 billion in 2021 to $331 billion in 2022. This escalation in healthcare expenditure underscores the growth trajectory within the ophthalmic drugs market.
Product innovation stands as a prominent trend shaping the ophthalmic drug market. Leading companies in this sector concentrate on novel solutions to fortify their market positions. An example is Sun Pharmaceutical Canada Inc.'s launch of CEQUA (cyclosporine ophthalmic solution 0.09% w/v) in January 2022. CEQUA utilizes nanomicellar (NCELL) technology, enhancing drug delivery to ocular tissues by improving cyclosporine's bioavailability and stability, primarily targeting dry eye disease.
Companies focus on developing preservative-free drugs, such as preservative-free latanoprost, offering efficacious treatment options. Thea Pharma introduced Iyuzeh (latanoprost ophthalmic solution) 0.005% in September 2023, the first preservative-free latanoprost approved by the FDA for primary open-angle glaucoma (POAG) and ocular hypertension (OHT) in the US. This launch responds to the needs of over 60 million global individuals affected by glaucoma, presenting an effective and preservative-free treatment option within the ophthalmic drugs market.
In November 2022, Alcon Inc., a Switzerland-based leader in eye care, completed the acquisition of Aerie Pharmaceuticals, Inc., a US-based research and development company specializing in ophthalmic disease treatments. The undisclosed deal granted Alcon access to Aerie's existing commercial drug Rhopressa and the developmental drug Rocklatan. This strategic move expands Alcon's pharmaceutical portfolio while leveraging Aerie's research and development capabilities. Alcon aims to harness Aerie's pipeline of ophthalmic drugs, potentially transitioning them into commercially viable treatments. Aerie Pharmaceuticals focuses on innovating drugs for various eye conditions, including dry eye and glaucoma, aligning with Alcon's commitment to advancing eye care solutions.
Major companies operating in the ophthalmic drugs market include AbbVie Inc., Alcon Inc., Bausch & Lomb Incorporated, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Sun Pharmaceutical Industries Limited, Teva Pharmaceutical Industries Ltd., Merck & Co. Inc., Nicox S.A., Coherus Biosciences Inc., Johnson & Johnson, Otsuka Pharmaceutical Co. Ltd., Viatris Inc., Mitotech SA, Akorn Incorporated, GlaxoSmithKline plc, Bayer AG, Senju Pharmaceutical Co. Ltd., Aerie Pharmaceuticals Inc., Kala Pharmaceuticals Inc., Aurobindo Pharma Ltd., Eyevance Pharmaceuticals, Acucela Inc., Dompe Farmaceutici S.p.A., Xbrane Biopharma AB, Laboratoires Thea
North America was the largest region in the ophthalmic drugs market in 2024. The regions covered in the ophthalmic drugs market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the ophthalmic drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The ophthalmic drugs market consists of ophthalmic sales of anti-angiogenic drugs, anti-vascular endothelial growth factor drugs, anti-uveitis drugs, and prostaglandin analogs. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Ophthalmic Drugs Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ophthalmic drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ophthalmic drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ophthalmic drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.