Ophthalmic Drugs Market 2020-2027 Industry Survey, Growth, Competitive Landscape and Forecasts to 2027
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Ophthalmic Drugs Market 2020-2027 Market Highlights . Owing to the rising cases of eye diseases, the demand for an effective treatment option has also been escalating. In the recent years, various new and existing marketers have come up with effective drugs. For instance, in November 2017, Bausch & Lomb, a U.S.-based company, received the FDA approval for Vyzulta (latanoprostene bunod ophthalmic solution). The drug is designed for the reduction of intraocular pressure in patients with
glaucoma or ocular hypertension. A number of factors such as rising prevalence of eye diseases, growing awareness, huge research funding in ophthalmology, unmet medical needs, rising competition among market players, improving regulatory framework, aging population, and increasing government assistance, are a few factors propelling the growth of
the global ophthalmic drugs market size . According to the 2017 statistics suggested by the World Health Organization (WHO), the chronic eye disease is the main cause of vision loss, globally However, the high cost associated with a diagnosis of eye diseases, side effects of available treatment options, and lack of healthcare insurance may hamper the growth of the market.
According to the ophthalmic drugs market forecast it is expected to grow at a CAGR 6.0% during the period of 2017 to 2023.
Ophthalmic Drugs Market 2020-2027 Regional Analysis The Americas dominates the ophthalmic drugs market owing to the presence of patient population, rising prevalence of eye diseases, well-developed technology, high healthcare expenditure, and the presence of
the leading players. According to the glaucoma research foundation, in the United States, more than 120,000 are blind because of glaucoma. This accounts for 9 to 12% of all the cases of blindness. It is also reported that over 3 million Americans have glaucoma, but only a few of them know they have it. It is also reported that glaucoma accounts for more than 10 million visits to physicians each year. In November 2017, Bausch & Lomb, a U.S.-based company, received the FDA approval for Vyzulta (latanoprostene bunod ophthalmic solution). The drug is designed for the reduction of intraocular pressure in patients with glaucoma or ocular hypertension. In December 2017, Rhopressa (netarsudil ophthalmic solution) by Aerie Pharmaceuticals has also received the FDA approval for the treatment of glaucoma or ocular hypertension Europe holds the second position in the ophthalmic drugs market. It is expected that the government support towards research and development expenditure, increasing competition among marketers, and amendments in reimbursement policies in healthcare are likely to drive the European market. Asia Pacific is the fastest growing ophthalmic drugs market owing to a huge patient pool, increasing demand, and development in healthcare technology. 3
Ophthalmic Drugs Market 2020-2027 Segmentation The global ophthalmic drugs market is segmented on the basis of indication, drug class, type of dosage, product, distribution channel.
On the basis of indication, the market is classified as glaucoma, retinal disorders, inflammation/infection, dry eye, allergies, uveitis, and others. On the basis of the drug class, the market is classified as antiallergy, anti-VEGF agents, antiinflammatory, antiglaucoma, and others. The anti-inflammatory class is further segmented into
nonsteroidal drugs and steroidal drugs. On the basis of type of dosage, the market is classified as eye drops, eye solutions, ointments, capsules and tablets, and gels. On the basis of the product, the market is classified as prescription drugs and OTC drugs.
On the basis of the distribution channel, the market is classified as hospital pharmacies, online pharmacies, drug stores, and others.
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