Dublin, May 28, 2020 (GLOBE NEWSWIRE) -- The "Ophthalmology Drugs Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report provides the strategists, marketers and senior management with the critical information they need to assess the global ophthalmology drugs market as it emerges from the COVID 19 shut down.
The global ophthalmology drugs market is expected to decline from $24,640.0 million in 2019 to $19,831.3 million in 2020 at a compound annual growth rate (CAGR) of -19.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 44.6% from 2021 and reach $33,272.8 million in 2023. The market is expected to grow at a CAGR of 7.2% to nearly $38,223.53 million by 2025, and at a CAGR of 7.0% to $53,698.87 million by 2030.
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This report describes and evaluates the global ophthalmology drugs market. It covers 2015 to 2019, termed the historic period, and 2019 to 2023 termed the forecast period, along with further forecasts for the periods 2023-2025 and 2025-2030.
Growth in the historic period resulted from the aging population prone to age-related eye disorders, the increase in number of contact lens users suffering from dry eye condition, increased funding from public and private research organizations, increased healthcare expenditure globally, increase in allergy diseases (hay fever) and increase in number of treatment options. Factors that negatively affected growth in the historic period were low healthcare access, particularly in developing countries, and lack of awareness about eye disorders such as dry eye and glaucoma.
Going forward, rise in laser surgeries, digitalization of the workplace, increasing prevalence of eye-related disorders and increasing geriatric population, growing burden of diabetes and other comorbidities, side effects of other medication, and promising pipeline for dry eye disease will drive growth. Factors that could hinder the growth of the ophthalmology drugs market in the future include long and costly drug approval procedures, inadequate insurance coverage of ophthalmologists' services expiration of branded drug patents and disruption in the supply chain of ophthalmology drugs due to the impact of COVID-19.
North America was the largest region in the global ophthalmology drugs market, accounting for 41.4% of the total in 2019. It was followed by Asia-Pacific, Western Europe, South America, and then the other regions. Going forward, the fastest-growing regions in the ophthalmology drugs market will be North America and the Asia Pacific, where growth will be at CAGRs of 8.9% and 8.5% respectively. These will be followed by the Middle East, Africa where the markets are expected to grow at CAGRs of 7.0% and 6.9% respectively.
The ophthalmology drugs market is highly concentrated, with a small number of large players. The top ten competitors in the market made up to 88.0% of the total market in 2019. Major players in the market include Novartis AG, Regeneron Pharmaceuticals Inc., Allergan Plc., Bayer AG, and Santen Pharmaceutical Co. Ltd.
The global pharmaceutical drugs market, of which the ophthalmology drugs market is a segment, reached a value of nearly $936.3 billion in 2019, having grown at a CAGR of 3.9% since 2015. It is expected to grow at a CAGR of 8.5% to nearly $1,298.6 billion by 2023. The ophthalmology drugs market was the smallest segment of the pharmaceutical drugs market accounting for 2.6% of the total in 2019. The dermatology drugs segment is expected to be the fastest-growing segment in the pharmaceutical drugs market, growing at a CAGR of 13.0% during 2019-2023.
The outbreak of Coronavirus has caused a shortage in the supply of ophthalmic drugs for the treatment of dry eyes. This is because the COVID-19 pandemic created disruption in the global pharmaceutical supply chain which is heavily dependent on China. The main raw materials in drug production are manufactured in China and are exported to other parts of the world for making the final drug. This has resulted in pharmacies and wholesalers reporting many drugs being out of stock. Owing to the shortage of medications, governments are advising pharmacists to limit the dispensing of certain dry eye prescription medicines such as chloramphenicol (an antibiotic for conjunctivitis) eye drops and ointments to a one-month supply according to the prescribed dose. Also, pharmacists are recommended to sell certain over the counter medicines (OTC) to a maximum of one unit per purchase due to the concern on the significant health impacts on the patients that can be caused due to the shortage of medicines during this pandemic.
Key Topics Covered:
1. Ophthalmology Drugs Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction
7. Ophthalmology Drugs Market Characteristics
7.1. Market Definition
7.2. Market Segmentation By Drug Type
7.2.1. Antiglaucoma Drugs
7.2.2. Dry Eye Medication
7.2.3. Other Ophthalmological Drugs
7.3. Market Segmentation By Prescription Type
7.3.1. OTC Drugs
7.3.2. Prescription Drugs
7.4. Market Segmentation By Drug Variation
7.4.1. Branded Drugs
7.4.2. Generic Drugs
7.5. Market Segmentation By Distribution Channel
7.5.1. Hospital Pharmacies
7.5.2. Eye Health Clinics
7.5.3. Retail Pharmacies
7.5.4. Online Pharmacies
8. Ophthalmology Drugs Market Product Analysis - Product Examples
9. Ophthalmology Drugs Market Supply Chain Analysis
9.1. Raw Material Suppliers
9.2. Contract Research Organization (CRO)
9.3. Ophthalmology Drugs Manufacturer
9.3.1. Drug Discovery
9.3.2. Preclinical And Clinical Trials
9.3.3. Patents Upon Discovery And Approval
9.3.4. Drug Manufacturing
9.4. Contract Manufacturing Organization (CMO)
9.5. Wholesalers/Distributors
9.6. Retailers (Pharmacies) And Hospitals
9.7. Ophthalmologists And Optometrists
9.8. End-Users
10. Ophthalmology Drugs Market Customer Information
10.1. Loss Of Vision Is The Major Concern For Glaucoma Patients
10.2. Majority Of The Patients Do not Seek Preventive Eye Care
10.3. Impact Of Dry Eye Disease (DED) On Patients' Quality Of Life
10.4. Two-thirds Of Americans Suffer From Eye Problems
10.5. Americans Taking More Prescription Drugs than Ever
10.6. Increasing Intake of Prescription Drugs
11. Ophthalmology Drugs Market Trends And Strategies
11.1. Innovative Drugs To Reduce Postoperative Inflammation And Pain
11.2. New Rho-kinase Inhibitors for Glaucoma
11.3. Development Of New Mode Of Delivery Systems
11.4. Single Dose Preservative Free Eye Drops
11.5. New Product Development
11.6. Development Of Combination Therapies
11.7. Non-Steroidal Anti-Inflammatory Drugs (NSAIDs) For Dry Eye Treatment
11.8. Rising Research And Collaborations
11.9. Global Expansion And Acquisitions
12. Leading Ophthalmologic Drug Therapies
13. Gene Therapy In Ophthalmology
13.1. Current Scenario Of Research And Development In Gene Therapy
13.2. Near-Term Potential
13.3. Long-Term Potential
14. Unmet Needs In Ophthalmology Drugs Market
15. Impact of COVID-19 On Ophthalmology Drugs Market
16. Global Ophthalmology Drugs Market Size And Growth
16.1. Historic Market Growth, 2015 - 2019, Value ($ Million)
16.1.1. Drivers Of The Market 2015 - 2019
16.1.2. Aging Population -
16.1.3. Restraints On The Market 2015 - 2019
16.2. Forecast Market Growth, 2019 - 2023, 2025F, 2030F Value ($ Million)
16.2.1. Drivers Of The Market 2019 - 2023
16.2.2. Restraints On The Market 2019 - 2023
17. Ophthalmology Drugs Market, Regional Analysis
17.1. Global Ophthalmology Drugs Market, By Region, Historic and Forecast, 2015 - 2019, 2023F, 2025F, 2030F, Value ($ Million)
17.2. Global Ophthalmology Drugs Market, 2015 - 2023, Historic And Forecast, By Region
17.3. Global Ophthalmology Drugs Market, 2019-2023, Growth And Market Share Comparison, By Region
18. Global Ophthalmology Drugs Market Segmentation
19. Global Ophthalmology Drugs Market Comparison with Macro Economic Factors
19.1. Ophthalmology Drugs Market Size, Percentage Of GDP, Global
19.2. Per Capita Average Ophthalmology Drugs Market Expenditure, Global
20. Asia-Pacific Ophthalmology Drugs Market
21. Western Europe Ophthalmology Drugs Market
22. Eastern Europe Ophthalmology Drugs Market
23. North America Ophthalmology Drugs Market
24. South America Ophthalmology Drugs Market
25. Middle East Ophthalmology Drugs Market
26. Africa Ophthalmology Drugs Market
27. Global Ophthalmology Drugs Market Competitive Landscape
28. Ophthalmology Drugs Market, Key Mergers And Acquisitions
28.1. Stada Arzneimittel AG Acquired Biopharma LLC
28.2. Fidia Farmaceutici S.P.A. Acquired Ophthalmic Products From Novartis Farma Spain
28.3. Immunovant Sciences Ltd. Merged With Health Sciences Acquisitions Corporation
28.4. Aerie Pharmaceuticals Acquired Avizorex Pharma
28.5. Novartis Acquired Ophthalmic Solution Xiidra From Takeda Pharmaceutical
28.6. Biogen Inc. Acquired Nightstar Therapeutics Limited
28.7. AbbVie Acquired Allergan
28.8. Alcon Acquired Tear Film Innovations, Inc.
28.9. Astellas Pharma Inc. Acquired Quethera Limited
28.10. TWi Pharmaceuticals, Inc. Acquired Synpac-Kingdom Pharmaceutical Co Ltd (SKP)
28.11. Chengdu Kanghong Pharma Acquired IOPtima Ltd. From BioLight
28.12. Horizon Therapeutics Plc Acquired River Vision Development Corp.
28.13. Novartis Acquired Encore Vision
28.14. Astellas Pharma Inc. Acquired Ocata Therapeutics
28.15. Purdue Canada Acquired Merck's Ophthalmology Portfolio
28.16. Sun Pharmaceutical Industries Limited Acquired InSite Vision Inc.
28.17. Actavis Plc. Acquired Allergan Inc.
28.18. Santen Pharmaceutical Co., Ltd. Acquired Merck's Ophthalmology Products
28.19. Lupin Limited Acquired Laboratorios Grin
29. Market Background: Pharmaceutical Drugs Market
29.1. Pharmaceutical Drugs Market Characteristics
29.2. Market Segmentation By Product Type
29.3. Global Pharmaceutical Drugs Market, 2019, By Segment, Value ($ Billion)
29.4. Global Pharmaceutical Drugs Market, 2015 - 2023, Historic And Forecast, By Segment
29.5. Global Pharmaceutical Drugs Market, 2019, By Region, Value ($ Billion)
29.6. Global Pharmaceutical Drugs Market, 2015 - 2023, Historic And Forecast, By Region
30. Global Ophthalmology Drugs Market Opportunities And Strategies
30.1. Global Ophthalmology Drugs Market In 2023 - Countries Offering Most New Opportunities
30.2. Global Ophthalmology Drugs Market In 2023 - Segments Offering Most New Opportunities
30.3. Global Ophthalmology Drugs Market In 2023 - Growth Strategies
30.3.1. Market Trend Based Strategies
30.3.2. Competitor Strategies
31. Ophthalmology Drugs Market, Conclusions And Recommendations
32. Appendix
Companies Mentioned
- Adcock Ingram
- Aflofarm Farmacja Polska Sp. z o. o,
- Akron Inc.
- Alcon Pharmaceuticals Czech Republic S.r.o.
- Aurinia Pharmaceuticals Inc
- Bausch Health Companies Inc.
- Biolab Farmaceutica
- Cristalia
- Daiichi Sankyo
- Endo International plc
- ERC Labs
- F. Hoffmann-La Roche Ltd.
- Herzig Eye Institute
- Implandata ophthalmic products GmbH
- Johnson & Johnson
- Medicom Health care
- Novamedika
- Otsuka Pharmaceutical Co. Ltd
- Pfizer Inc.
- Regenerx Biopharmaceuticals Inc
- ReGenTree, LLC
- Shanghai Pharmaceuticals
- Shire
- Sun Pharmaceutical Industries Limited
- Teuto Brasileiro
- The Geuder Group, MORCHER GmbH
- Thomas Eye Group
- Vision gain
- VUAB Pharma, Inc
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