The
global ophthalmic drugs market was valued at USD 16 billion in 2012
and is expected to grow at a CAGR of 5.2% from 2013 to 2018, to reach
an estimated value of USD 21.6 billion in 2018.
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Globally,
the ophthalmic drugs market is witnessing significant growth due to
increasing prevalence of eye disorders such as diabetic retinopathy
and macular degeneration. As a result, this market is expected to
grow at a CAGR of about 5.2% during 2013 - 2018.
Some
of the key driving factors for the ophthalmic drugs market are rising
prevalence of global aging population, increasing government
initiatives towards healthcare infrastructure in developing countries
(such as India and China), technological changes in drug delivery
technique, and increasing prevalence of lifestyle associated
diseases. However, the market faces some restraints such as lack of
awareness among people regarding eye disorders, drying pipeline of
ophthalmic drugs, patent expiration of blockbuster ophthalmic drugs
and absence of health insurance in developing countries.
North
America, including the US has the largest ophthalmic drugs market.
Asia is the fastest growing ophthalmic drugs market. Some of the
fastest growing markets for ophthalmic drugs are China, India, other
countries in South East Asia and the Eastern Mediterranean. As per
WHO estimates in 2010, in the next nine years, the number of blind
people aged 50 years and above will grow in these regions, thereby
increasing the demand for ophthalmic drugs. On the other hand, in
developed regions such as North America and Western Europe, rising
efforts towards prevention of blindness among the aging population
has emerged as a key driver for the market.
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Glaucoma
has the largest market share in the ophthalmic drugs market and it is
expected to grow at a CAGR of about 4.2% during 2013 - 2018. Various
ophthalmic drug companies are increasing their focus on combination
therapy, which involves use of more than one medication for specific
retinal disorders. Most of these combination therapies are used as
first line treatment in patients with high level of intraocular
pressure. Combination therapy has various advantages over traditional
medication such as reduced frequency of eye drop application,
improved patient compliance and efficacy.
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Novartis
(Alcon) is the leading player in the global ophthalmic drugs market
while other major players include Allergan, Santen, Pfizer, Merck and
Roche.
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The
global ophthalmic drugs market is segmented as follows:
Ophthalmic
Drugs Market, By Treatment Drugs
Dry
Eye Drugs
Retinal
Drugs
Anti-inflammatory/allergy/infective
Drugs
Anti-glaucoma
Drugs
Ophthalmic
Drugs Market, By Types
Prescription
Drugs
OTC
Drugs
Ophthalmic
Drugs Market, by Geography
North
America
US
Europe
Germany
UK
France
Asia
Pacific
Japan
China
India
Rest
of the World (RoW)
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