Ophthalmic Drugs Market Expected to Reach US$21.6 Billion by 2018

2026-07-08 06:16:45 Health and Fitness

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According to a recent market study published by Transparency Market Research (TMR), the global ophthalmic drugs market to reach US$21.6 billion by 2018, expanding at a CAGR of 5.2% between 2013 and 2018.The report, titled ?Ophthalmic Drugs Market ? Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 ? 2018?, reveals that the worldwide ophthalmic drugs market stood at US$16 billion in 2012. It also determines the key drivers as well as major restraints of this market.According to the report, the rising prevalence of eye disorders across the world is the main driving force behind the development of this market. Apart from this, increase in the global geriatric population is also propelling the market, as with increasing age, the eyesight starts to diminish in human beings. However, the lack of awareness about various eye-related disorders and dearth of innovative ophthalmic drugs are hampering the global market. In addition to this, patents of many blockbuster drugs are on the verge of expiration, which is expected to make things worse for the market during the forecast period.
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Prescription drugs and over the counter (OTC) drugs are the two main types of ophthalmic drugs available in the global market.Based on treatment, dry eye drugs, anti-allergic/anti-inflammatory/anti-infective drugs, retinal drugs, and anti-glaucoma drugs are the key segments of the global ophthalmic drugs market. The anti-glaucoma drugs segment leads the global ophthalmic treatment drugs market and analysts expect this segment to expand at a CAGR of 4.2% over the forecast period.
Regionally, North America dominates the global ophthalmic drugs market and is expected to maintain its dominant position owing to the increasing initiatives to curb blindness and other eye-related disorders among the geriatric population.On the other hand, Asia Pacific is reporting the fastest growth in the market for ophthalmic drugs across the globe on account of the rising incidence of blindness among the geriatric population in this region. This trend is likely to continue over the period from 2013 to 2018. India, China, and several nations in Southeast Asia are the key consumers of ophthalmic drugs and rising demand from these countries is fuelling the Asia Pacific ophthalmic drugs market.The global market for ophthalmic drugs is led by Novartis, which held around 24% of the overall market in 2012. Other major players operating in this market are Allergan, Santen, Merck & Co., Bayer, Roche, Senju, Valeant, Regeneron, and Pfizer, as per the market report.
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The report covers all the critical aspects of the global ophthalmic drugs market and makes significant assessments on overall performance of this market at present as well as historically. The main objective of this report is to help market participants understand the trends and movements of this market and empower them to make crucial strategies for significant development of their businesses.
Browse the full Ophthalmic Drugs Market (Dry eye, Anti-glaucoma, Anti-allergy/inflammatory/infective, Retinal Drugs) ? Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 ? 2018 report athttp://www.transparencymarketresearch.com/ophthalmic-drugs-market.html
The global ophthalmic drugs market is segmented into:
By Types
? Prescription Drugs
? OTC Drugs
? By Treatment Drugs
? Dry Eye Drugs
? Retinal Drugs
? Anti-inflammatory/allergy/infective Drugs
? Anti-glaucoma Drugs
By Regions
? North America
? Europe
? Asia Pacific
? Rest of the World (RoW)
About us:
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR?s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.