Published Date : Nov 07, 2016
Albany, NY, Nov 07, 2016: The report titled “Global Ophthalmology Drugs Market to 2022” presents a detailed evaluation of ophthalmology drugs related to five major disorders - diabetic macular edema, glaucoma, diabetic retinopathy, age-related macular degeneration (AMD), and dry eye syndrome. As per the findings of the report, the global ophthalmology market was valued at US$13.7 bn in 2015 and is estimated to reach US$26 bn by 2022, expanding at a CAGR of 9.48% from 2016 to 2022.
The global ophthalmology drugs market is primarily driven by the rising prevalence of eye disorders. Since aged people are more susceptible to refractive errors, the growing global geriatric population is fuelling the market. Moreover, the increasing government initiatives in emerging nations towards improving the healthcare infrastructure is likely to augur well for the market’s growth. Other factors such as technological advancements in drug delivery techniques and the increasing prevalence of chronic and lifestyle associated diseases such as diabetes, heart diseases, and obesity are working in favor of the ophthalmology drugs market.
Although there are different generic drugs available in the market for most ophthalmology disorders, blockbuster drugs such as Restasis, Lumigan, Lucentis, and Eylea generate the maximum revenue. Therefore, patent expiration of these drugs in the near future is expected to adversely affect the overall revenue of the market. Moreover, the lack of awareness regarding eye disorders among people in developing and less developed countries is restraining the growth of the global ophthalmology drugs market.
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There are currently no therapeutic options available for the treatment of AMD, driving the need for extensive research and development within this area. However, with the existing technology, there is a high degree of uncertainty and failure regarding the R&D of ophthalmology drugs, which is in turn hampering the market. Another factor negatively influencing growth is the absence of favorable reimbursement scenarios in developing countries.
Nevertheless, the number of ophthalmology drugs in the pipeline is very high. With the majority of pipeline products being new active pharmaceutical ingredients, the industry is exhibiting progression in terms of the variety of molecules being developed as therapeutic agents. Therefore, the approval of novel drugs and increasing emphasis on combination therapy are expected to shape the future of the global ophthalmology drugs market.
The market intelligence report offers an in-depth reports of the competitive landscape of the global ophthalmology drugs market and the regulatory framework impacting the overall market. The increasing number of mergers and acquisitions are also contributing to the growth of the market. Some of the leading players in the market are Novartis International AG, Bayer, Regeneron, Roche Holding AG, Ophthotech, Spark Therapeutics, Merck & Co. Inc., and Santen Pharmaceutical Co. Ltd.
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