Ophthalmic Disease Therapeutics

Global Ophthalmic Disease Therapeutics Market Size, Share, Growth Analysis, By Disease indication(Glaucoma, Retinal disease), By Drug Class(Anti-Inflammatory, Anti – infective) - Industry Forecast 2024-2031

Report ID: SQMIG35H2037 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 64

Global Ophthalmic Disease Therapeutics Market Dynamics

Ophthalmic Disease Therapeutics Market Driver

Presence of small and mid-sized organizations to boost the market growth

  • Leading companies in the ophthalmic disease therapeutics market are Allergan plc, F. Hoffmann-La Roche AG, and Regeneron Pharmaceuticals, Inc. The current vendor landscape of the global market is extremely fragmented due to the rise of small and mid-sized regional competitors. 
  • Major ophthalmic diseases such as macular degeneration, macular edema, and retinal vein occlusion can be treated with the help of the well-known medicines Eylea, manufactured by Regeneron Pharmaceuticals, Inc., and Lucentis, manufactured by F. Hoffmann-La Roche AG. 

Ophthalmic Disease Therapeutics Market Restraint

  • Longer times involved for manufacturing and formulating and associated side effects of ophthalmic drugs.
    Prolonged duration for manufacturing and formulating ophthalmic drugs as well as side effects associated with the ophthalmic drugs are expected to restrict the market growth during the forecast period.
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Ophthalmic Disease Therapeutics Market size was valued at USD 31.6 billion in 2019 and is poised to grow from USD 33.5 billion in 2023 to USD 53.8 billion by 2031, growing at a CAGR of 6.10% in the forecast period (2024-2031).

The ophthalmic disease therapeutics market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability. 'Merck and Co., Inc.', 'Pfizer, Inc.', 'Novartis AG', 'Allergan plc', 'F. Hoffmann-La Roche AG', 'Regeneron Pharmaceuticals, Inc.', 'Santen Pharmaceutical Co., Ltd.', 'Bayer AG', 'Bausch and Lomb, Inc.'

Leading companies in the ophthalmic disease therapeutics market are Allergan plc, F. Hoffmann-La Roche AG, and Regeneron Pharmaceuticals, Inc. The current vendor landscape of the global market is extremely fragmented due to the rise of small and mid-sized regional competitors. 

Technological Advancements in Ophthalmology: Technological advances in ophthalmology comprises developing new imaging technique and surgical tools that improve the patient’s condition with eye diseases. For instance, the use of femtosecond lasers in cataract surgery is used to improve precision and lessens the risk of complications.

Improved distribution of ocular drugs to meet their rising demand supplements the market growth in Asia Pacific with the highest CAGR. In terms of revenue, North America accounted for a leading share in the ophthalmic disease therapeutics market in 2023, with a valuation of US$14 billion. This is due to the high prevalence of retinal disease in the U.S. and the recent introduction of potent ophthalmic disease therapeutics in the country. In terms of revenue Europe is regarded as the second leading region. Ophthalmic disease therapies are expected to increase in the region with the highest CAGR throughout the projection period thanks to improved distribution network of major pharmaceutical firms in Asian countries and strong government measures to prevent & control blindness.

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