Ophthalmology Drugs Market Analysis

Ophthalmology Drugs Market Analysis

To get key market trends

  Download Free Sample

Based on therapeutic class, the market is divided into anti-VEGF agents, anti-glaucoma drugs, anti-inflammatory drugs, anti-infective drugs, anti-allergy drugs, and other therapeutic categories. The anti-VEGF agents held the major share of 38.1% in 2023.
 

• The dominance of the segment can be attributed to the anti-VEGF agents, including as ranibizumab (Lucentis), aflibercept (Eylea), and bevacizumab (Avastin), have the key component for the treatment of wet AMD.
   
• Further, they inhibit VEGF, a protein that stimulates aberrant blood vessel formation in the retina, reducing leakage and bleeding in the eye and maintaining vision. This makes anti-VEGF agents a crucial advancement in eye care and contribute to the growth of the market.

Based on indication, the ophthalmology drugs market is classified into dry eye, glaucoma, infection/inflammation, retinal disorders, allergy, uveitis, myopia, ptosis, FECD, retinitis pigmentosa, and other indications. The retinal disorders segment led the market and accounted for USD 8.4 billion in 2023.
 

• The increasing incidence of different retinal problems has led to an increase in demand for effective therapies to protect and improve eyesight. The aging population is contributing to the rise in retinal conditions like age-related macular degeneration (AMD).
   
• Additionally, an increase in diabetes prevalence drives diabetic retinopathy cases. Advancements in anti-VEGF therapies and sustained-release drug delivery systems have improved treatment outcomes, further propelling the demand for drugs targeting retinal disorders and bolstering the segment growth.
   

Based on route of administration, the ophthalmology drugs market is divided into topical, local ocular (intravitreal), and other routes of administrations. The topical segment held the greatest market and is anticipated to reach USD 28.5 billion by 2032.
 

• The market includes medications that are available as topical therapies for a variety of eye ailments as topical drugs are convenient to use and can be self-administered by patients, reducing the need for injections or surgical interventions in many cases.
   
• In addition, topical ophthalmic drugs target the specific site of action, such as the cornea, conjunctiva, or intraocular structures, allowing for localized drug delivery and minimizing systemic side effects.  Increasing incidence of ocular conditions like glaucoma, conjunctivitis, and dry eye syndrome drives demand for these easy-to-use treatments.
   

Based on product, the ophthalmology drugs market is categorized into prescription and OTC. Prescription drugs are expected to growth with a CAGR of 5% during the forecast period.
 

• It is anticipated that this segment would continue to dominate the market during the forecast period. The increase in conditions like AMD and diabetic retinopathy is responsible for the prescription medicine market's growth.
   
• Further, ophthalmic conditions often require specialized treatment plans tailored to the individual patient's diagnosis, severity of the disease, and medical history. Prescription drugs allow for personalized and targeted therapies to address specific eye conditions effectively.
   
• Additionally, the growing aging population contributes to the increased need for prescription drugs to manage age-related eye diseases effectively.
   

Based on dosage form, the ophthalmology drugs market is divided into eye drop, capsules and tablets, gels, ointments, injectables, cream, and other dosage forms. The eye drops segment held the largest revenue share in 2023 and is expected to show similar trend during the analysis period. 
 

• Eye drops allow for localized drug delivery to the ocular surface, targeting specific eye structures, such as the cornea, conjunctiva, or intraocular tissues, where the medication is needed. The expanding OTC availability of eye drops, and the prevalence of eye diseases all influence the eye drop segment market progress.
   
• In addition, it is predicted that new product introductions with altered formulations would meet market demand. For instance, Alcon announced the release of their innovative systane complete preservative-free, lubricant eye drop in January 2022.
   

Based on distribution channel, global ophthalmology drugs market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a notable market size of USD 18 billion in 2023.
 

• This dominance is attributed to the crucial role that hospital pharmacies play in the distribution and dispensing of specialized medications for eye-related conditions. Ophthalmology drugs often require precise handling, storage, and administration, and hospital pharmacies are well-equipped to meet these stringent requirements.
   
• Further, high patient footfall in hospitals ensures a consistent demand for ophthalmology drugs, driving the prominence of hospital pharmacies market segment.
   

The North America ophthalmology drugs market is expected to grow at 4.8% during the analysis period.
 

• The region has a significant prevalence of ophthalmic conditions, including age-related macular degeneration (AMD), diabetic retinopathy, glaucoma, and dry eye syndrome. The aging population, changing lifestyle, and the increasing prevalence of chronic diseases like diabetes contribute to the high incidence of these conditions. The need for effective treatments drives the demand for ophthalmology drugs in the region.
   
• Moreover, North America is a hub for technological advancements and research in the field of ophthalmology. The region has a well-established pharmaceutical industry, academic institutions, and research organizations focused on developing innovative ophthalmology drugs. Advancements such as gene therapies, sustained-release drug delivery systems, and personalized medicine are further expected to drive the growth of the market.