Some of the key players operating in the global Ophthalmic Drugs Market are ALLERGAN, Aerie Pharmaceuticals, Inc., Pfizer Inc., Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc., Novartis AG , Regeneron Pharmaceuticals, Inc., Shire, and Santen Pharmaceutical Co., Ltd. Novartis, of them, is a leading player, which held a share of 12% in the market in 2012.
Noticeable trends in the global ophthalmic drugs market are keen players entering into co-development agreements to formulate novel biological agents having lesser treatment durations, emerging market players focusing on unmet medical needs in ophthalmology, and generic manufacturers bolstering their distribution networks of affordable drugs in rural areas of developing regions, having maximum visually challenged people.
As per a report by Transparency Market Research, the global ophthalmic drugs market will likely attain a value of US$34.3 bn by 2025 from US$24.4 bn in 2016 by registering a tepid CAGR of 4.0% from 2017 to 2025.
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Depending upon disease indication, the global ophthalmic drugs market can be divided into retinal disorders, dry eye, glaucoma, infection/inflammation, uveitis, allergy, etc. Of them, the retinal disorders segment which can be further segmented into wet age-related macular degeneration, dry age-related macular degeneration, diabetic retinopathy, etc., accounts for maximum market share because of a burgeoning patient population requiring long-term treatment, rising instances of diabetic retinopathy as co-morbidity in diabetic patients, new drugs curing irreversible eye disorders, and proper reimbursement policies in developed countries for ophthalmic drug treatment.
Based on geography, the key segments of the global ophthalmic drugs market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, at present is the leading region on account of higher uptake of advanced novel products and techniques, and high cost of therapies among all regions. The market in North America is slated to become worth US$13.80 bn by 2025.