Ophthalmic Drugs Market Demand and Growth Analysis with Forecast up to 2030

According to Nova one advisor, the global Ophthalmic Drugs market size is expected to hit around USD 67.1 billion by 2030 from valued at USD 33.9 billion in 2021 and growing at a CAGR of 7.40% from 2022 to 2030.

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Key Takeaways:

• Anti-VEGF agents segment held the largest share in 2021 owing to their rising demand and lesser adverse effects
• Retinal disorders held the largest market share in 2021 owing to the rising prevalence of age-related macular degeneration and diabetic retinopathy
• The topical route of administration dominated the market in 2021 owing to factors such as the benefits of the topical route as it delivers the drug to the targeted site and ease of use
• The eye drops segment is expected to hold the largest share in 2021 owing to rising demand for eye drops, high patient compliance, and availability of OTC products
• Asia Pacific is expected to exhibit the fastest growth over the forecast period due to advancements in healthcare infrastructure, increasing demand for eye products, and a large patient pool

The rising awareness about ophthalmic disorders and the surge in demand for ophthalmic drugs are the factors propelling the market growth. Moreover, an increase in the prevalence of eye diseases such as age-related macular degeneration, cataract, dry eye, diabetic retinopathy, glaucoma, and others are anticipated to boost the demand for ophthalmic drugs.

According to BrightFocus Foundation in 2021, it is estimated that over 3 million Americans are living with glaucoma, and, among them over 2.7 million patients were affected by the most common type of glaucoma i.e. open-angle glaucoma. Moreover, 3.3 million people are affected by blindness and low vision in the U.S. Some of the major risk factors for glaucoma and blindness are, higher age, family history, thin cornea, and high eye pressure. This creates a wide population base for ophthalmic drugs, thereby, ensuring lucrative growth.

Furthermore, ocular therapeutic and drug delivery companies are receiving funding to expedite R&D for advancements in technologies to develop novel drugs, which is likely to fuel market growth. For instance, in June 2020, Re-Vana Therapeutics received USD 3.25 million in pre-series A funding from Qubis, ExSight Ventures, LLC, Clarendon Fund Managers, Visionary Ventures, and Techstart Ventures LLP. The funding is expected to boost the development of Re-Vana Therapeutics’ EyeLief & OcuLief biodegradable technologies that can be used for a small molecule as well as biologics delivery.

Moreover, the rising geriatric population is the key driver for the ophthalmic drugs market growth. According to Safe Eyes America, the most common risk factors for ophthalmic diseases are high age, family history, diabetes, and high blood pressure. For instance, as per AMERICA’s HEALTH RANKINGS senior report 2021 it was estimated that more than 54 million adults of age more than 65 live in the U.S., and that population accounted for 16.5% of the total population. According to Macular Degeneration Research AMD is the leading reason for blindness in U.S. people over the age of 60.

Ongoing regulatory approvals for ophthalmic products are likely to support market growth. For instance, in June 2022 Santen Pharmaceutical Co., Ltd announced that it has got marketing and manufacturing approval for the dry eye disease treatment DIQUAS LX ophthalmic solution in Japan. This solution is the improved formulation that has reduced dosing frequency and improved patient compliance.

Report Scope of the Ophthalmic Drugs Market

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Drug Class Insights

The anti-VEGF agents dominated the ophthalmic drugs market in 2021 and held the largest revenue share of 32.5% in 2021. The growth of the anti-VEGF agents segment is augmented by rising demand and adoption of anti-VEGF agents, and the presence of leading market players with robust product portfolios. For instance, LUCENTIS manufactured by Genentech USA is a prescription medicine for the treatment of patients with diabetic retinopathy, AMD, and myopic choroidal neovascularization. Further, the growth of the segment is also attributed to, the strong performance of Avastin, LUCENTIS, and others. The current class of anti-VEGF medications is effective but not long-lasting, hence the focus of players on the development of therapeutics with longer action is growing. Some of the companies with promising pipeline products include Opthea, Lupin Limited, and Kodiak Sciences Inc.

Anti-inflammatory agents are projected to grow at a steady pace owing to factors such as increasing incidence of ophthalmic conjunctivitis and recent product approvals. For instance, in February 2022, the U.S FDA approved the first generic of Restasis single-use vials for the treatment of inflammation associated with keratoconjunctivitis sicca. Anti-inflammatory drugs are basically classified into steroids and non-steroids. Some of the anti-inflammatory drugs commercialized in the U.S. are Xibrom, Voltaren, Prolensa, Ocufen, Nevanac, Ilevro, and Bromsite.

Disease Insights

The retinal disorder segment dominated the market and accounted for a revenue share of 35.8% in 2021 owing to factors such as the increasing prevalence of macular degeneration, and diabetic retinopathy. For instance, in 2022, According to amplify eye care, it was estimated that almost 11 million patients had some form of AMD in 2021, and is expected to reach 22 million by 2050. Moreover, the increasing sales volume of ophthalmic drugs and the presence of innovative pipeline drugs are likely to bolster segment demand. The increasing funding for developing treatments in the segment is boosting the market growth. For instance, in September 2022, Trinity Researchers received funding of USD 3.14 million for the development of treatment for the condition in collaboration with companies such as Eli Lilly and Roche.

In addition, the infection segment is expected to experience steady growth during the forecast period. The growth of the infection segment is accounted for high incidences of eye infections such as conjunctivitis, swollen eye, and others. Moreover, increasing awareness of eye infections is projected to accelerate segment demand. The entry of biosimilar drugs in the segment is projected to intensify competition in the market. For instance, Polyhexanide, by SIFI for parasitic eye infection is expected to be launched in 2022 as the Biosimilar Aflibercept in the European Union.

Dosage Form Insights

The eye drops segment held the largest revenue share of 40.3% in 2021. The growth of the eye drop segment is governed by rising OTC availability of eye drops, patient compliance factors, and a high incidence of eye disorders. Moreover, novel product launches with formulation modifications are also anticipated to cater to segment demand. For instance, in January 2022, Alcon announced the launch of its novel systane complete preservative-free eye drop. 

In addition, the presence of novel technology to enhance bioavailability and physiochemical stability is anticipated to propel segment demand. For instance, in July 2021, Bosch and Lomb announced the U.S. launch of Biotrue, hydration lubricant eye drops. This product is derived from a natural source and is preservative free.

Ophthalmic gels are applied directly to the eyelids or the periphery of the eye. Gels are available as viscous liquids that are used to treat uveitis, chronic inflammation, and cataracts. Aqueous gel formulations utilizing hydrophilic polymers and stimuli-responsive polymers remain key attractions for investment in this market. Gels enable the incorporation of pharmaceutical drugs for achieving the desired therapeutic effect and bioactivity at specific ocular sites. Increased entry of over-the-counter products in the segment is creating intense competitive rivalry.

Product Type Insights

The prescription drugs segment held the largest revenue share of 60.1% in 2021 and is to expected to maintain its dominance throughout the forecast period. The growth of the prescription drugs segment is accounted for by the rising prevalence of disorders such as AMD, and diabetes retinopathy. Moreover, improved efficacy and better safety are some of the factors that are likely to boost prescription segment demand. Some of the drugs present in this market include Lotemax gel/ointment, Zylet, Durezol, Bepreve (bepotastine besilate ophthalmic solution), and prescription artificial tears. Bepreve is an antihistamine used to treat allergic conjunctivitis. Some prescription products contain moisturizing and lubricating agents that enhance the secretion of tears temporarily. Prescription products are considered most effective for treating ophthalmic disorders and are preferred over OTC products.

Whereas, OTC drugs segment is expected to grow at a steady rate owing to factors such as easy patient access, the surge in e-pharmacies, and rising product launches of OTC eye drops. For instance, in April 2022 Théa Pharma Inc announced the commercial availability of iVIZIA line of OTC eye care products in the U.S. They are commercially available in various dosage forms including gels, emulsions, capsules, ointment, and eye drops. Some of the most commonly prescribed OTC products include Alaway (Bausch & Lomb, Inc.); Zaditor (Alcon, Inc.); Otrivine-Antistin (Novartis Consumer Health); Brolene (Sanofi); Golden Eye Ointment (Sigma Pharmaceuticals); GelTears (Bausch & Lomb); and Viscotears (Alcon, Inc.).

Route of Administration Insights

The topical route of administration has dominated the ophthalmic drugs market in 2021 and is likely to maintain its lead throughout the forecast period. The growth of the topical segment is accounted for by increasing demand for topical products due to convenient dosage, patient compliance factors, and various strategic initiatives undertaken by market players. Topical drug dosage forms generally include suspensions, solutions, and ointments. The cornea is the primary route of topical absorption that pose significant anatomical barriers. The availability of several drugs delivered via the topical route of administration is estimated to be the major driver of this segment. For instance, in October 2021, Allergan an AbbVie Inc company announced that U.S. FDA has approved VUITY for the treatment of presbyopia. Vuity is the only FDA-approved eye drop to treat various eye conditions.

Intraocular delivery route facilitates direct entry of drugs into the blood-retinal barrier and, therefore, highest peak of drug concentration can be achieved. It achieves maximum intraocular bioavailability in posterior segment tissues of the eye, such as cone-containing fovea or macula. In May 2022, Vabysmo injection was launched by Chugai Pharmaceutical Co., Ltd. for the treatment of AMD. However, this is the most invasive route of administration, involving penetration of drugs in the eye and, thus, is not free of injection-related complications.

Regional Insights

In 2021, North America led the ophthalmic drugs market and held the largest revenue share of 40.3%. The growth of the region is accounted for a higher prevalence of eye diseases, and rising awareness about eye diseases. Moreover, increasing research and development by leading players is also anticipated to fuel regional growth. Furthermore, the presence of leading players like Alcon, Pfizer Inc, and Bausch and Lomb. For instance, in June 2022, Harrow Health Inc announced that MAXITROL and IOPIDINE 1% are commercially available in the U.S. The new guidelines by the FDA, under the Prescription Drug User Fee Act, provide a structured approach to assess the risks and benefits in clinical trials for these ophthalmic drugs.

Asia Pacific is expected to be the fastest-growing region. The growth of the Asia pacific region is attributed to the presence of a large patient pool, high disease prevalence, and the emergence of local companies. The Asia Pacific region has the highest patient base, however, the treatment rate is the lowest in the region. Moreover, various strategic initiatives undertaken by market players are also expected to boost regional growth. For instance, in June 2020 Otsuka Pharmaceutical Co., Ltd., and Senju Pharmaceutical Co., Ltd. announced the launch of a combination ophthalmic solution, AILAMIDE for the treatment of ocular hypertension and glaucoma.

Some of the prominent players in the Ophthalmic Drugs Market include:

• Pfizer Inc.
• Alcon
• Novartis AG
• Bausch Health Companies Inc.
• Merck & Co., Inc
• Regeneron Pharmaceuticals Inc
• Allergan (AbbVie Inc)
• Bayer AG
• Genentech, Inc. (F. Hoffmann-La Roche Ltd)
• Nicox
• Coherus Biosciences, Inc.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Ophthalmic Drugs market

• Drug Class
  • Antiallergy
  • Anti-inflammatory
    • Non-steroidal drugs
    • Steroidal drugs

• • Anti-VEGF Agents
  • Anti-glaucoma
  • Others
• Disease
  • Dry Eye
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Eye Allergy
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Glaucoma
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Eye Infection
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Retinal Disorders
    • Retinal Disorder Treatment Market, By Type,
      • Macular Degeneration
      • Diabetic Retinopathy

• • • Retinal Disorder Treatment Market, By Dosage Type,
      • Gels
      • Eye Solutions & Suspensions
      • Capsules & Tablets
      • Eye Drops
      • Ointments
  • Uveitis
    • Gels
    • Eye Solutions & Suspensions
    • Capsules & Tablets
    • Eye Drops
    • Ointments
  • Others
• Dosage Form
  • Gels
  • Eye Solutions & Suspensions
  • Capsules and Tablets
  • Eye Drops
  • Ointments
• Route of Administration
  • Topical
  • Local Ocular
    • Retinal Disorders
    • Subconjunctival
    • Intravitreal
    • Retrobulbar
    • Intracameral
  • Systemic
• Product Type
  • Prescription Drugs
  • OTC Drugs

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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