Ophthalmic Drugs Market Demand 2022-2028: Increasing Number Of Patients Suffering From Glaucoma In Developed And Developing Nations
The latest market analysis report published by Reports and Data, titled ‘Global Ophthalmic Drugs Market – Forecast to 2028,’ thoroughly examines the Ophthalmic Drugs industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts. The Ophthalmic Drugs industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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The global ophthalmic drugs market size was significantly robust in 2020 and is expected to register a steady revenue CAGR over the forecast period. Some key factors driving market revenue growth include rising prevalence of eye diseases such as presbyopia, macular degeneration and diabetic retinopathy among elderly are increasing and have significantly increased the demand for ophthalmic drugs in the market.
Ophthalmic drugs can treat various eye diseases such as cataracts, glaucoma, diabetic retinopathy, myopic choroidal, and other diseases. According to the World Health Organization WHO), glaucoma is the second leading cause of blindness in the world. Various ophthalmology medications are available in market such as cefazolin, gentamicin, EDTA, bevacizumab, and others. Improved healthcare infrastructure, supportive government initiatives to spread health awareness among people globally, and rising investment in development of advanced drug types are other factors expected to drive market growth going ahead.
The global Ophthalmic Drugs market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2021 to 2028. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Ophthalmic Drugs market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
AbbVie Inc. (Allergan), Bausch Health Companies Inc., Johnson & Johnson, F. Hoffmann La Roche Ltd., Hoya Corporation, Novartis AG, Pfizer, Regeneron Pharmaceuticals Inc., Santen Pharmaceuticals Inc. Co. Ltd., Alcon Inc., Teva Pharmaceuticals Industries Ltd., Sun Pharmaceutical Industries Ltd., Cipla Ltd., Merck & Co., Inc., and Coherus Biosciences, Inc.
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Ophthalmic Drugs Market Segmentation:
Drug Type Outlook: (Revenue, USD Billion; 2018-2028)
- Antiglaucoma Drugs
- Dry Eye Medication
- Other Ophthalmology Drugs
Dosage Type Outlook: (Revenue, USD Billion; 2018-2028)
- Liquid Ophthalmic drug form
- Solid Ophthalmic drug form
- Semi-solid Ophthalmic drug form
- Multi-compartment Ophthalmic drug delivery system
- Other Ophthalmic drug forms
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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