Ophthalmic Suspension Market is Expected to Grow at a CAGR of About ~8.3% During The Forecast Period 2022-2030

Pune, India, June 9, 2023/MRFR Press Release/- Market Research Future published a Half-Cooked  research report on “Global Ophthalmic Suspension Market Research Report - Forecast to 2030” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030.

Global Ophthalmic Suspension Market – Overview

The Ophthalmic Suspension Market is projected to reach USD 5,172.3 Million by 2030 at 8.3% CAGR during the forecast period 2022-2030.

Different suspensions are available in the market to treat eye infections and related symptoms. These together are referred to as ophthalmic suspensions. Generally, these suspensions are used in combination of antibiotics and a corticosteroid which ensures effective treatment. Bacterial eye infections such as conjunctivitis can be effectively treated by the ophthalmic suspensions. Rising prevalence of eye diseases is one of the major driver for the growth of the market, during the forecast period. Moreover, growing geriatric population susceptible to various eye disorders, and rising number of reported cases of bacterial infections in children boosts the market. According to the World Health Organization in 2014, glaucoma is one of the second major causes of blindness in the world. It was also estimated that the global prevalence of the same will increase, fuelling the market growth. However, side-effects associated by the application of ophthalmic suspension is estimated to restrain the market growth during the projected period.

The global ophthalmic suspension market is growing with the sound pace. According to a recent study report published by the Market Research Future, the global ophthalmic suspension market is booming and expected to gain prominence over the forecast period growing. The market is forecasted to demonstrate a sound growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2022 – 2030).

Global Ophthalmic Suspension Market - Competitive Analysis

Characterized by the presence of several well-established and small players, the global ophthalmic suspension market appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing.  The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.

Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.

Pfizer Inc. is one of the major players of the global ophthalmic suspension market and is headquartered in the U.S. In 2015, the company’s total revenue was about USD 48,851 million and it reached USD 52,824 million in 2016. Such a significant increase in the global sales, enabled the company to invest a huge percentage of their sales into the research and development. In 2016, the company spent 14.9% of its total revenue into the R&D enabling it to improve its product portfolio and launch new product, strengthening its position in the market.

In November 2016, Novartis acquired Selexys Pharmaceuticals Corporation, a company specializing in development of therapeutics in certain hematologic and inflammatory disorders.

In June 2016, Merck, known as MSD outside the United States and Canada, and Afferent Pharmaceuticals announced that the two companies signed an agreement under which Merck acquired the privately held company. Afferent Pharmaceuticals is a leader in the development of therapeutic candidates targeting the P2X3 receptor for the treatment of common, poorly-managed, neurogenic conditions.

In February 2015, Valeant Pharmaceuticals International, Inc. and Salix Pharmaceuticals, Ltd. entered into a definitive agreement under which Valeant acquired all of the outstanding common stock of Salix for USD 158.00 per share in cash. The transaction was approved by the Boards of Directors of both companies.

Explore In-depth Details: Ophthalmic Suspension Market Research Report

Novartis AG (Alcon), ALLERGAN, Pfizer Inc., Merck & Co., Inc., Bausch & Lomb Incorporated, Falcon Group, Valeant, Bayer AG, and Genentech, Inc. are some of the prominent players at the forefront of competition in the Global Ophthalmic Suspension Market and are profiled in MRFR Analysis. 

Global Ophthalmic Suspension Market -

Regional Analysis

The Americas holds the largest market share. Increasing prevalence of eye related diseases, growing geriatric population, and rising demand for new ophthalmic suspension are major reasons for market growth within the region. Followed by the similar trends, Europe is estimated to be the second largest market. Increasing awareness regarding eye related diseases, growing technological advancements and rising investment in healthcare domain by government facilitates the market growth within the region. Asia Pacific, is the fastest growing region in the market. On the other hand, the Middle East & Africa holds the least market share, mainly due to the presence of global players within the African region. Poor availability of medical facilities, and low per capita healthcare expenditure are estimated to be major restrains for the market.

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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

 MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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