DUBLIN, Nov. 20, 2023 /PRNewswire/ — The “Ophthalmic Drugs Market Report 2024-2034” report has been added to ResearchAndMarkets.com’s offering.
Overall world revenue for the ophthalmic drugs market is set to surpass US$32 billion in 2024, with strong revenue growth through to 2034. The work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
The global ophthalmic drugs market is experiencing substantial growth, and this can be attributed to several key factors. The increasing prevalence of ophthalmic disorders, including conditions like glaucoma, macular degeneration, diabetic retinopathy, and dry eye syndrome, is driving the demand for more effective pharmaceutical treatments. As the world’s population ages and lifestyles evolve, the incidence of these eye-related disorders continues to rise, creating a sustained need for innovative drugs to address them.
The presence of a robust emerging pipeline of drugs is contributing significantly to market growth. Pharmaceutical companies are actively investing in research and development efforts to develop new and improved ophthalmic medications. These pipeline drugs hold the promise of enhanced therapeutic options and more targeted treatments, further fueling the market’s expansion. Together, these factors underscore the dynamic and evolving nature of the global ophthalmic drugs market, which is poised for continued growth in the foreseeable future.
Side Effects of Drugs Likely to Challenge Industry Growth
The utilization of topical drugs can result in various side effects, encompassing temporary vision cloudiness, allergic responses, visual disruptions, and sensations of stinging, burning, or itching. Additionally, more infrequent side effects encompass sudden alterations in vision, severe headaches, tunnel vision, eye discomfort, pain behind the eyes, and indications of potential new eye infections, such as swelling and drainage. Consequently, the presence of these side effects linked to topical steroidal drugs has the potential to impede market growth.
The challenge posed to the ophthalmic drugs market in developing nations by drug side effects is a complex issue. Resolving this concern demands a holistic approach that encompasses various measures, such as enhancing healthcare accessibility, improving medical infrastructure, fostering patient education, countering counterfeit drug proliferation, and establishing stringent regulatory frameworks to uphold the safety and effectiveness of ophthalmic medications.
Market Dynamics
Market Driving Factors
- Rising Frequency and Occurrence of Eye-related Conditions
- Increasing Prevalence of Diabetes
- Presence of Strong Emerging Pipeline Drugs
Market Restraining Factors
- Lack of Health Insurance in the Developing Countries
- Lack of Awareness Regarding the Available Treatment Options
- Side Effects of Drugs
- Patent Expiry of Blockbuster Drugs
Market Opportunities
- Rise in Investment in Research and Development
- Rise in Geriatric Population
Segments Covered in the Report
Type
- Prescription Drugs
- OTC Drugs
Indication
- Retinal Disorders
- Infection/Inflammation/Allergy
- Glaucoma
- Dry Eye
Route of Administration
- Topical
- Parenteral
Distribution Channel
- Hospital Pharmacies
- Drug Stores
- Online Pharmacies
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 26 leading national markets.
The report also includes profiles and for some of the leading companies in the Ophthalmic Drugs Market, 2024 to 2034, with a focus on this segment of these companies’ operations.
Leading companies and the potential for market growth
- AbbVie
- Alimera Sciences
- Apellis Pharmaceuticals
- Bausch & Lomb Incorporated
- Bayer
- Breye Therapeutics
- EyeBio
- F. Hoffmann-La Roche
- Johnson & Johnson Services Inc.
- Novaliq GmbH
- Novartis AG
- Pfizer Inc.
- Regeneron Pharmaceuticals
- Santen Pharmaceutical
- SpliceBio
- Teva Pharmaceutical Industries
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising ophthalmic drugs prices and recent developments.
For more information about this report visit https://www.researchandmarkets.com/r/5ujpkw
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
