Ophthalmic Disease Therapeutics

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 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.

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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).

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. '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.'

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 market is extremely fragmented due to the rise of small and mid-sized regional competitors. 

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.

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.

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Ophthalmic Disease Therapeutics

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