Ophthalmic Drugs Market to Grow due to Increasing Competition, Increasing Healthcare Expenditure

Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Ophthalmic Drugs Market.

The Global Ophthalmic Drugs Market is expected to exhibit a strong 6% CAGR over the forecast period, according to the latest research report from Market Research Future (MRFR).

Competitive Analysis:

Leading players in the global ophthalmic drugs market include Valeant Pharmaceuticals International Inc., Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Shire plc, Santen Pharmaceutical Co. Ltd., Regeneron Pharmaceuticals Inc., Pfizer Inc., Merck & Co. Inc., Genentech Inc., Bausch & Lomb Inc., Allergan plc, and Actavis Generics.

• In August 2019, Harrow Health Inc. announced that its subsidiary, Stowe Pharmaceuticals Inc., has made an agreement with TGV Health to acquire worldwide rights to Zian, an anti-microbial molecule, for ophthalmic uses.

• In July 2019, Ocuphire Pharma raised over USD 5 million to complete late phase 2 clinical trials.

Segmentation:

The global ophthalmic drugs market is segmented on the basis of indication, drug class, type of dosage, product, and distribution channel.

On the basis of indication, the market is classified as glaucoma, retinal disorders, inflammation/infection, dry eye, allergies, uveitis, and others.

On the basis of drug class, the market is classified as antiallergy, anti-VEGF agents, anti-inflammatory, antiglaucoma, and others. The anti-inflammatory segment is further segmented into nonsteroidal drugs and steroidal drugs.

On the basis of type of dosage, the market is classified as eye drops, eye solutions, ointments, capsules and tablets, and gels.

On the basis of the product, the market is classified as prescription drugs and OTC drugs.

On the basis of the distribution channel, the market is classified as hospital pharmacies, online pharmacies, drug stores, and others.

Browse Full Report Details @ https://www.marketresearchfuture.com/reports/ophthalmic-drugs-market-5753

Regional Analysis

The Americas dominates the global ophthalmic drugs market and is likely to remain the leading regional market over the forecast period due to the rising prevalence of ophthalmic conditions and the high healthcare expenditure in the region. Glaucoma accounts for up to 10 million visits to the physician in the U.S., leading to considerable expenses and demand for drugs. More than 120,000 in the U.S. are blind because of glaucoma. These numbers are highly good news for the ophthalmic drugs market in the Americas. The growing patient population suffering from ophthalmic diseases is likely to drive the Americas market for ophthalmic drugs over the forecast period. North America is likely to remain the leading revenue generator in the global ophthalmic drugs market over the forecast period.

Europe is likely to hold on to the second place in the global ophthalmic drugs market over the forecast period due to a similar set of reasons. The growing patient population in Europe for ophthalmic diseases is a major driver for the ophthalmic drugs market in the region. Growing awareness about ophthalmic diseases is also likely to be a major driver for the ophthalmic drugs market in Europe over the forecast period. Increasing government support to healthcare research is also likely to be a key driver for the ophthalmic drugs market in Europe over the forecast period, as governments in the region have exhibited strong support for medical research in the last few years. Strong presence of a medical research sector in the ophthalmology sector is likely to drive the Europe market for ophthalmic drugs in the coming years. The increasing competition in the healthcare sector is also likely to drive the ophthalmic drugs market in Europe over the forecast period.

Asia Pacific is likely to exhibit the fastest growth over the forecast period as the growing number of ophthalmic patients has driven drug research into ophthalmology. The growing awareness about ophthalmic diseases in Asia Pacific is likely to remain a key driver for the ophthalmic drugs market in the region over the forecast period. Growing healthcare sector expenditure is also likely to be a major driver for the Asia Pacific ophthalmic drugs market over the forecast period. Increasing competitiveness in the pharmaceuticals sector is likely to lead to the development of several new ophthalmic drugs in the region over the forecast period, leading to steady growth of the market.