Report Overview

The global ophthalmic drugs market size stood at around USD 34.3 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Ophthalmic drugs are extensively used to treat glaucoma, cataract, diabetic retinopathy, and other ophthalmic disorders. Introduction of novel ocular drug delivery approaches in the market has driven the manufacturers to develop innovative therapeutic approaches for the treatment of ophthalmic disorders. According to the American Academy of Ophthalmology, 11 million people in the U.S. suffer from age-related macular degeneration (AMD), while approximately 10% of them are inflicted with wet AMD. Such trends in ophthalmic disorders across the globe contribute to the growth of the market.



Market Drivers and Restraints

The rising prevalence of eye-related disorders, such as diabetic retinopathy, macular degeneration, and presbyopia is expected to boost market growth over the forecast period. For instance, according to the National Eye Institute, the projected number of U.S. citizens suffering from AMD is estimated to increase from 2.07 million in 2030 to 5.44 million in 2050. Strong developmental pipeline also drives the market growth.

Patent expiry of special drugs does restraint the market growth of ophthalmic drugs market.

Major Ophthalmic Disease

The major disease includes dry eye, eye allergies, glaucoma, eye infection, retinal disorders, uveitis and others. The retinal disorders segment dominated the market for ophthalmic drugs and accounted for the largest revenue share of 33.5% in 2019. The presence of strong pipeline products and increasing sales volume of ophthalmic drugs for retinal disorders is expected to be one of the major factors driving the market over the forecast period. For instance, in 2017, Graybug Vision, Inc. initiated a phase 1/2 trial of GB-102 for the treatment of wet age-related macular degeneration (AMD). GB-102 is a novel injectable depot formulation of sunitinib malate.