Global Ophthalmic Drugs Market 2020-2027| New Trends, Size, Shares
Posted by Tanuja kulkarni on April 23rd, 2021
Ophthalmic Drugs Market Overview:
Ophthalmic diseases are fast emerging as a potential threat to the population as they can adversely impact the sight of the population. The global ophthalmic drugs market is showing scope for a rise by 6% CAGR over the review period of 2017 to 2023. Market Research Future (MRFR) has cleared various details regarding the market to make the discussion more effective and impactful.
Factors like rising awareness of eye diseases, better funding allocated for ophthalmology, various regions without much reach of the sector, competitive market players, better regulatory framework, aging population, and a surge in government initiatives are factors that can impress the market growth. However, the diagnostic procedure often incurs high costs, which can slow down the expected growth rate. Various side-effects are also making significant impact in pulling the reins of the market growth. The industry often gets almost no coverage from the reimbursement providers, which can deter the expected market growth. Poor healthcare systems in developing regions can also impact market growth.
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Ophthalmic Drugs Market Segmentation:
The global market for ophthalmic drugs has a better segmentation in the report where it has been discussed on the basis of drug class, indication, product, type of dosage, and distribution channel. These analyses are carriers of data that have been sieved by expert analysts for better market profiling.
By indication, the market for ophthalmic drugs can be segmented into retinal disorders, glaucoma, dry eye, inflammation/infection, uveitis, allergies, and others.
By drug class, the market ophthalmic drugs can be segmented into anti-VEGF agents, antiallergy, antiglaucoma, anti-inflammatory, and others. The anti-inflammatory segment incorporates nonsteroidal drugs and steroidal drugs.
By dosage type, the market ophthalmic drugs can be segmented into ointments, eye solutions, eye drops, capsules & tablets, and gels.
By product, the market report on the ophthalmic drugs can be segmented by prescription drugs and OTC drugs.
By distribution channel, the market study of the ophthalmic drugs incorporates a detailed discussion by segmenting the market into drug stores, online pharmacies, hospital pharmacies, and others.
Ophthalmic Drugs Market Regional Analysis:
The Americas has better dominance potential and as it has a wide range of customer who is expected to promote the market in the coming years. Along with it, other features as rising prevalence of eye diseases, high healthcare expenditure, well-developed technology, and leading players operating from the region are features that can be explored well to initiate better market growth in the coming days.
Europe is the second-largest market and its growth is getting well-backed by the research and development sector, market competition, and transforming reimbursement policies. The healthcare sector is expected to gain notably from such initiatives.
The Asia Pacific market has a better potential for growth in terms of associated market incorporation and others. The massive patient pool, backed by huge market demand for proper treatment, and development of the infrastructure can trigger the market growth further.
The Middle East and Africa may provide the lowest revenue owing to the lack of infrastructure and dearth of efficient provision to support the move.
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Ophthalmic Drugs Market Competitive News:
The global market for ophthalmic drugs is benefiting from the participation of several eminent players who are banking on their effective implementation of various strategies that can ensure significant growth in the coming years. These companies have been recorded by MRFR to get a hang of how the market is all set to move ahead in the coming years. These companies are Bausch & Lomb Inc., Actavis Generics, Allergan Plc, Merck & Co., Inc., Genentech, Inc., Regeneron Pharmaceuticals, Inc., Pfizer Inc., Shire Plc, Santen Pharmaceutical Co., Ltd., Valeant Pharmaceuticals International, Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Limited, and others.
In October 2019, Eyenovia Inc. announced that the Company is making progress in developing its MicroLine program to improve the near vision in patients with symptoms for presbyopia. The research is all set to reach the Phase III development.
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About the AuthorTanuja kulkarni
Joined: April 12th, 2021
Articles Posted: 15
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