Ophthalmic Drugs Industry Overview The global ophthalmic drugs market size is expected to reach USD 60.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2028. An increase in the prevalence of eye-related disorders, such as presbyopia, macular degeneration, and diabetic retinopathy, is one of the major drivers of the market. According to the American Academy of Ophthalmology, over 2.71 million people in the U.S. were affected by Primary Open-angle Glaucoma (POAG) in 2011, and the number is estimated to reach 7.3 million by 2050. Moreover, due to COVID-19, it has become increasingly unsafe for individuals to touch their face several times a day, which is a known cause of transmission. Therefore, companies are developing long-acting, hands-free therapies to combat such challenges. For instance, in April 2020, Ocular Therapeutix, Inc. completed Phase III clinical trial to evaluate the safety and efficacy of DEXTENZA for allergic conjunctivitis. It is a hands-free therapy administered in the office setting as an intracanalicular insert. It is bioresorbable and designed to release the corticosteroid dexamethasone to the ocular surface, lasting 30 days. It is a one-time and long-acting therapy that can be useful during the COVID-19 crisis. Ophthalmic Drugs Market Segmentation Grand View Research has segmented the global ophthalmic drugs market on the basis of drug class, disease, dosage form, route of administration, product type, and region. Based on the Drugs Class Insights, the market is segmented into Antiallergy, Anti-VEGF Agents, Anti-inflammatory, Antiglaucoma, Others.
Based on the Disease Insights, the market is segmented into Dry Eye, Eye Allergy, Glaucoma, Eye Infection, Retinal Disorders, Uveitis, Others.
Based on the Route of Administration Insights, the market is segmented into Topical, Local Ocular, Systemic.
Based on the Product Type Insights, the market is segmented into Prescription Drugs, OTC Drugs.
Based on the Dosage Form Insights, the market is segmented into Gels, Eye Solutions, Capsules & Tablets, Eye Drops, Ointments.
Ophthalmic Drugs Regional Outlook
Key Companies Profile & Market Share Insights Key companies are focusing on the research and development of novel drugs to combat the rising prevalence of eye disorders. For instance, in June 2020, Novartis received label update approval from the U.S. FDA for Beovu (brolucizumab). The update included additional safety information related to retinal vascular occlusion and retinal vasculitis. Some prominent players in the global ophthalmic drugs market include
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