Report Overview

The global OTC ophthalmic drugs market size stood at around USD 13.3 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

The ophthalmology drugs market is segmented by prescription type into OTC drugs and prescription drugs. The OTC drugs market was the largest segment of the ophthalmology market segmented by prescription type, accounting for 54.1% of the total in 2019



Market Growth Drivers

The increasing prevalence of eye diseases is increasing the demand for ophthalmic drugs, globally. In many developed and developing countries, eye conditions have emerged as potential threats to the status of sight of their populations. The increase in the prevalence of diabetes in various countries has caused diabetic retinopathy to be added to the priority list. Glaucoma, an eye disease known for centuries, remains on the public health agenda due to difficulties in its early diagnosis and the frequent necessity of life-long treatment. According to the WHO, in 2018, it was estimated that approximately 1.3 billion people were living with some form of vision impairment, 188.5 million people had mild vision impairment, 217 million had moderate to severe vision impairment, and 36 million people are blind. Globally, the leading causes of vision impairment are uncorrected refractive errors and cataracts, and the majority of people with vision impairment are over the age of 50 years. According to the WHO, chronic eye diseases are the number one cause of vision loss, with the top two causes being unoperated cataracts and uncorrected refractive errors. The former is the leading cause in countries with low- or middle-incomes. Hence, the rising incidence of eye-related disorders is projecting a great impact on the growth of the market