Ophthalmic Drugs Market Attract Notable Growth Prospects with Rising Awareness on Available Diagnosis and Treatment Solutions, Says TMR Study

Ophthalmic Drugs Market Attract Notable Growth Prospects with Rising Awareness on Available Diagnosis and Treatment Solutions, Says TMR Study

  • Increase in global older population is creating high demand for different ophthalmic drugs

  • Players in the ophthalmic drug market are focusing on product approvals and R&Ds in order to develop technologically advanced treatment solutions

ALBANY, NY, June 16, 2022 /PRNewswire/ — The global ophthalmic drug market is projected to register growth at a CAGR of 4.1% during the forecast period of 2019 to 2027, as per analysts of a Transparency Market Research (TMR) study.

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The global healthcare industry is experiencing a rising need for the advanced solutions for the treatment of wide range of eye disorders such as optic nerve, recurrent or chronic uveitis, retinoblastoma, and neurodegeneration retinitis pigmentosa. Moreover, FDAs of many nations are providing approvals for innovative and effectual retinal treatment solutions in order to cater to unmet requirements in eye disorders. These factors are expected to create lucrative prospects in the ophthalmic drugs market during the forecast period.

Manufacturers are increasing researches in order to address common side-effects occurring due to ophthalmic drugs including blurred vision, abnormal vision, dry/irritated eyes, poor focusing ability, compromised pupil size, and color perception changes. The global ophthalmic drugs market is likely to observe sluggish growth due to these disadvantages of the drugs.

The ophthalmic drugs market in North America is expected to gain sizable business prospects in the upcoming years owing to many factors such as technological advancements in the ocular therapies. Moreover, the North America The ophthalmic drug market is prognosticated to gain noteworthy expansion opportunities owing to rising efforts of regional market players to develop innovative drug delivery systems, note analysts of a research report by TMR.

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Ophthalmic Drugs Market: Key Findings

  • Government as well as private organizations of several nations globally are taking initiatives to spread awareness among people on different types of eye disorders such as glaucoma, dry eye, infection, retinal disorders, and inflammation. Moreover, they are also focusing on development of different campaigns that are focused on growing understanding about different types of advanced eye treatment solutions available in the healthcare industry. These efforts are leading to surge in the sales growth in the global ophthalmic drugs market.

  • Healthcare professionals across the globe are increasing the adoption of varied advanced therapeutics in the treatment of eye disorders in order to offer a high level of healthcare to patients. Similarly, the patient population across the globe is inclining toward opting for advanced treatment solutions due to their improved spending power. These factors, in turn, are generating sizable demand prospects in the global ophthalmic drug market, notes TMR study.

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Ophthalmic Drugs Market: Growth Boosters

  • Rise in the prevalence of varied eye-related disorders across the globe is propelling the global ophthalmic drugs market

  • Increase in the global older population is leading to increased cases of eye diseases, which in turn, is boosting the demand for ophthalmic drugs globally

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Ophthalmic Drugs Market: Competition Landscape

  • Major companies operating in the global ophthalmic drugs market are using strategies such as mergers, collaborations, joint ventures, and partnerships in order to stay competitive

  • Several enterprises in the market for ophthalmic drugs are focusing on the development of technologically advanced products, regulatory approvals, and new product launches

  • In order to sustain in the high level of competitions, many new players in the ophthalmic drug market are focusing on offering specialized treatment options for specific eye diseases

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Ophthalmic Drugs Market: Key Players

Some of the key players profiled in the report are:

  • ALLERGAN

  • Aerie Pharmaceuticals, Inc.

  • Bayer AG

  • Valeant Pharmaceuticals International, Inc.

  • Novartis AG

  • Genentech, Inc. (F. Hoffmann-La Roche Ltd.)

  • Regeneron Pharmaceuticals, Inc.

  • Pfizer Inc.

  • Santen Pharmaceutical Co., Ltd.

Ophthalmic Drugs Market Segmentation

Product Type

  • Prescription Drugs

  • OTC Drugs

Therapeutic Class

  • Anti-inflammatory Drugs

  • Anti-infective Drugs

  • Anti-glaucoma Drugs

  • Anti-allergy Drugs

Disease Indication

  • Dry Eye

  • Glaucoma

  • Infection/ Inflammation

  • Retinal Disorders

  • Allergy

  • Uveitis

  • Others

Distribution Channels

Region

  • North America

  • Europe

  • Asia Pacific

  • Latin America

  • Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Healthcare Research Reports by Transparency Market Research:

Glaucoma Therapeutics Market: Increase in prevalence and incidence of diabetic disorders, rise in geriatric population, improved health care as well as health care infrastructure, introduction of combination therapies, and surge in the number of awareness programs are likely to drive the global glaucoma therapeutics market during the forecast period.

Dry Eye Disease Treatment Market: Rise in reported cases of dry eye disease, increase in the number of surgical procedures such as LASIK surgery, adverse effects of rising pollution levels, advances in treatment of dry eye, and introduction of new therapies are projected to drive the global dry eye disease treatment market.

Dry Eye Disease Diagnostics & Treatment Market: Rise in prevalence and incidence of dry eye disease and increase in the geriatric population are the major factors boosting the growth of the global dry eye disease diagnostics & treatment market.

Dry Eye Disease Diagnostic Devices Market: Rise in prevalence and incidence rates of dry eye disease in the US, technical advancements in dry eye disease diagnostic devices, adverse effects of rising pollution levels, and increase in use of electronics are anticipated to propel the market during the forecast period.

Retinal Disorders Treatment Market: Increase in R&D activities, rise in number of patients suffering from diseases, and rapid expansion of healthcare and biopharmaceutical industries in developed and developing countries are likely to boost advancements in therapies in the retinal disorders treatment market during the forecast period.

Allergy relieving Eye Drops Market: Increase in prevalence and incidence rates of eye-related disorders, high unmet needs in patients with ocular allergy, increased geriatric population, raised awareness about eye diseases in developing countries are expected to boost the allergy-relieving eye drops market during the forecast period.

Macular Degeneration Treatment Market: Increase in prevalence and incidence of retinal disorders, rise in the geriatric population, high annual cost of therapy (ACOT) for pipeline drugs, improved health care as well as health care infrastructure, introduction of novel therapies, and surge in The number of awareness programs are likely to drive the global macular degeneration treatment market during the forecast period.

Tablet Coatings Market: Increase in outsourcing of operations and rise in R&D activities in pharmaceuticals in developed countries are creating lucrative opportunities for players in the tablet coatings market. The global tablet coatings market is anticipated to reach more than $1,543 Mn by 2031

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