USD 31.6 billion
Ophthalmic Disease Therapeutics Market Size, Share, Growth Analysis, By Disease indication(Glaucoma, Retinal disease, Dry Eye Disease, Allergy & Infection), By Drug Class(Anti-Inflammatory, Anti – infective, Anti- VEGF, Anti Glaucoma), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2037 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
64
Ophthalmic Disease Therapeutics Market Insights
Ophthalmic Disease Therapeutics Market size was valued at USD 31.6 billion in 2019 and is poised to grow from USD 33.5 billion in 2023 to USD 53.8 billion by 2031, growing at a CAGR of 6.10% in the forecast period (2024-2031).
Given the steadily rising prevalence of ocular diseases globally and the increasing need for vision care and treatment is widely felt at a global scale. The National Eye Institute estimates that vision loss and vision diseases cost US$139 billion annually to the U.S. economy. The predicted expansion of the worldwide ophthalmic therapeutics market is largely due to the increased prevalence of blindness.
The major pharmaceutical companies are making significant investments in the research and development of novel therapies for the treatment of retinal disorders, and it is anticipated that more cutting-edge therapies will be approved in the upcoming years, propelling the growth of the ophthalmic disease therapeutics market. Additionally, the development of OTC (Over-the-Counter) therapeutics in Asian nations as a result of the introduction of affordable ocular drugs by local manufacturers is anticipated to increase the revenue generated by ophthalmic therapeutics in the global ophthalmic disease therapeutics market during the forecast period.
Anti-inflammatory, anti-infectives, anti-VEGF, anti-glaucoma, and other medication classes are available on the market. Out of these, anti-inflammatory medications held a 27% market share for ocular disease therapies in 2019 and are anticipated to maintain their dominance over the forecast period.
US Ophthalmic Disease Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Fastest Growth
glaucoma
Growth Rate
6.10% CAGR
Global Ophthalmic Disease Therapeutics Market($ Bn)
Country Share for Asia-Pacific (%)
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Ophthalmic Disease Therapeutics Market Segmental Analysis
Ophthalmic Disease Therapeutics Market is segmented based on the disease indication, drug class, and region. Based on the disease indication, the market is segmented as a glaucoma, retinal disease, dry eye disease, allergy & infection. Based on drug class, the market is segmented into anti-inflammatory, anti–infectives, anti-vegf, anti-glaucoma. Based on region, the global market segmentation spans North America, Europe, Asia-Pacific, Latin America, and MEA.
Ophthalmic Disease Therapeutics Market Analysis by Drug Class
Due to the rise in allergic conjunctivitis and hypersensitivity reactions, and the rising demand for anti-inflammatory medications across a wide range of conditions, including uveitis, cystoid macular edema, and scleritis. The anti-inflammatory segment exhibited the highest growth in 2022 and is predicted to continue to lead in the near future. However, due to an increase in the prevalence of allergic conjunctivitis, the anti-infectives segment is anticipated to experience significant growth over the projection period.
Ophthalmic Disease Therapeutics Market Analysis by Disease
According to disease indication, the market is divided into categories such as allergies, infections, glaucoma, retinal disorders, and dry eye diseases. The retinal disorders segment saw a significant increase in 2022. The growth is attributed to increased incidence of diabetes worldwide. The Centers for Disease Control and Prevention (CDC) predict that by 2050, 14.6 million Americans will have diabetic retinopathy, up from 7.7 million in 2010. Researchers discovered that this illness can result in permanent visual loss if it is not treated in a timely manner. Therefore, it is anticipated that ophthalmology manufacturers will create and produce ophthalmic medications which will in turn drive the market growth.
Global Ophthalmic Disease Therapeutics Market BY disease indication
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Ophthalmic Disease Therapeutics Market Regional Insights
Improved distribution of ocular drugs to meet their rising demand supplements the market growth in Asia Pacific with the highest CAGR. In terms of revenue, North America accounted for a leading share in the ophthalmic disease therapeutics market in 2023, with a valuation of US$14 billion. This is due to the high prevalence of retinal disease in the U.S. and the recent introduction of potent ophthalmic disease therapeutics in the country. In terms of revenue Europe is regarded as the second leading region. Ophthalmic disease therapies are expected to increase in the region with the highest CAGR throughout the projection period thanks to improved distribution network of major pharmaceutical firms in Asian countries and strong government measures to prevent & control blindness.
Global Ophthalmic Disease Therapeutics Market By Region
- Largest
- Fastest
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Ophthalmic Disease Therapeutics Market Dynamics
Ophthalmic Disease Therapeutics Market Driver
Presence of small and mid-sized organizations to boost the market growth
- Leading companies in the ophthalmic disease therapeutics market are Allergan plc, F. Hoffmann-La Roche AG, and Regeneron Pharmaceuticals, Inc. The current vendor landscape of the global market is extremely fragmented due to the rise of small and mid-sized regional competitors.
- Major ophthalmic diseases such as macular degeneration, macular edema, and retinal vein occlusion can be treated with the help of the well-known medicines Eylea, manufactured by Regeneron Pharmaceuticals, Inc., and Lucentis, manufactured by F. Hoffmann-La Roche AG.
Ophthalmic Disease Therapeutics Market Restraint
- Longer times involved for manufacturing and formulating and associated side effects of ophthalmic drugs.
Prolonged duration for manufacturing and formulating ophthalmic drugs as well as side effects associated with the ophthalmic drugs are expected to restrict the market growth during the forecast period.
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Ophthalmic Disease Therapeutics Market Competitive Landscape
The ophthalmic disease therapeutics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.
Top Players in the Global Opthalmic Disease Therapeutics Market
- Merck and Co., Inc.
- Pfizer, Inc.
- Novartis AG
- Allergan plc
- F. Hoffmann-La Roche AG
- Regeneron Pharmaceuticals, Inc.
- Santen Pharmaceutical Co., Ltd.
- Bayer AG
- Bausch and Lomb, Inc.
Ophthalmic Disease Therapeutics Market Recent Developments
-
In Feb 2021, Dextenza, a product by Ocular Therapeutix was made available in the market. This product enables the course of steroid therapy possible just with a single installation of intracanalicular device.
-
In June 2020, the collaboration agreement between Aerie Pharmaceuticals, Inc. and DSM Biomedical, Inc. has been extended to include innovative drug delivery techniques in ophthalmology.
Key Market Trends
Ophthalmic Disease Therapeutics Key Market Trends
- Technological Advancements in Ophthalmology: Technological advances in ophthalmology comprises developing new imaging technique and surgical tools that improve the patient’s condition with eye diseases. For instance, the use of femtosecond lasers in cataract surgery is used to improve precision and lessens the risk of complications.
- Growing interest in personalized medicine: There has been a growing interest in personalized medicine following the development of targeted therapies. This is leading to the development of novel drugs that can be customized as per patient needs.
Ophthalmic Disease Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Analysis, Global Ophthalmic Disease Therapeutics report offers a thorough overview of the industry and focuses on important factors including the top players, sources, products, and applications. The research also identifies significant advancements in the industry and provides insights into market trends and the competitive environment. The study includes a number of aspects, in addition to those already mentioned, that have assisted in the market's expansion in recent years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 31.6 billion |
| Market size value in 2031 | USD 53.8 billion |
| Growth Rate | 6.10% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Ophthalmic Disease Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Ophthalmic Disease Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Ophthalmic Disease Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ophthalmic Disease Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ophthalmic Disease Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ophthalmic Disease Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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