Ophthalmic Therapeutics/Drug Market Analysis By Class (Anti-allergy, Anti-VEGF Agents, Anti-inflammatory, Anti-glaucoma), By Disease (Dry Eye, Allergies, Glaucoma, Infection, Retinal Disorders, Uveitis), And Segment Forecasts, 2018 - 2025

Industry Insights

The global ophthalmic therapeutics/drugs market size was valued at USD 22.7 billion in 2016 and is expected to grow at a CAGR of 5.1%. Increase in prevalence of eye disorders such as presbyopia, macular degeneration, and diabetic retinopathy among the aging population and increase in R&D for the development of novel entityare some of the key factors expected to drive market growth.

According to the American Academy of Ophthalmology, over 2.71 million people in U.S. were affected by Primary Open-Angle Glaucoma (POAG) in 2011 and the number is estimated to rise to 7.3 million by 2050. Cataract is the leading cause of blindness followed by diabetic retinopathy, glaucoma, and Age-Related Macular Degeneration (AMD). Moreover, strategic initiatives such as Vision 2020 Australia aim to eliminate avoidable blindness and facilitate treatments for people with permanent blindness or vision loss.

The U.S. accounts for a major share in the ophthalmic drug market. Furthermore, continuous R&D activities are contributing to this major share. For instance, OTX-TP (travoprost insert) used for the treatment of glaucoma and ocular hypertension is currently under Phase III clinical trial.

Presence of a wide range of drugs such as Azopt, Lumigan, Retaine MGD, Vigamox, and others for the treatment of eye disorders are expected to fuel market growth. In addition, presence of well-established manufacturing companies is projected to boost the growth of ophthalmic therapeutics market in the U.S. These include Alcon (Novartis AG); Johnson and Johnson Vision Care, Inc.; Bausch and Lomb Inc.; Regeneron Pharmaceuticals Inc.; and others.

Class Insights

Ophthalmic drugs are classified into five major classes including anti-infective, anti-inflammatory, anti-Vascular Endothelial Growth Factor (anti-VEGF), & antiglaucoma agents, and others based on the treatment of ocular diseases. The anti-infective agents segment dominated the market in 2016 owing to factors such as increasing incidence of allergic conjunctivitis.

Antiglaucoma is anticipated to be the fastest growing segment over the forecast period. Antiglaucoma are broadly classified into topical and systemic drops. Some of the drugs for the treatment of glaucoma include timolol, metipranolol, epinephrine, dipivefrin, brimonidine, latanoprost, bimatoprost, pilocarpine, and carbachol. Growth of this segment is expected to be boosted by the introduction of different therapies with novel mechanism of action.

Disease Insights

Major ocular diseases are classified into dry eyes, allergies, glaucoma, inflammation/infection, retinal disorders, uveitis, and others. The retinal disorder segment dominated the market in 2016 owing to its high incidence and rising prevalence of age-related macular degeneration. Furthermore, retinal disorders are classified into wet and dry age-related macular degeneration, diabetic retinopathy, and others. The chances of acquiring age-related macular degeneration increase with age.

The dry eye disorder segment is also expected to witness lucrative growth during the forecast period due to increase in incidence of this condition. According to NCBI, diabetes mellitus is considered as one of the leading risk factors for Dry Eye Syndrome (DES). In 2016, the prevalence of DES in diabetic patients was 15-33% in patients belonging to the age group of 65 years and above. The leading drugs for treating dry eyes are Restasis, Refresh, Hyalein, and Diquas.

Dosage Form Insights

The eye drop segment dominated the market in 2016 owing to its high usage due to its efficacy and cost-effectiveness as compared to other forms of dosage. Moreover, the development of novel drugs in the form of eye drops is expected to further enhance market growth. For instance, in July 2015, Santen Pharmaceutical Co., Ltd. launched Ikervis, an eye drops for treating severe keratitis in adult patients with dry eye diseases.

The eye solutions and suspensions segment is anticipated to be the fastest growing segment over the forecast period owing to the advantage of direct drug delivery and action on the affected area, which makes them a highly preferred treatment option. Some of the most commonly used eye solutions include Moxeza, Ocuflox, and Neosporin.

Product Insights

The ophthalmic therapeutics product market is classified into prescription and OTC. The OTC segment is anticipated to emerge as the largest segment for the ophthalmic therapeutics market, by 2025. Some of the ophthalmic OTC products includeAlaway, Zaditor, Otrivine Antistin, Brolene, Golden Eye ointment, GelTears, and Viscotears.

Prescription drugs is expected to be the fastest growing segment in the ophthalmic drug market. Some of the prescription products are Lotemax gel, Zylet, and Durezol, and Bepreve, (bepotastine besilate ophthalmic solution).

Regional Insights

North America dominated the market in 2016 owing to the presence of well-established healthcare infrastructure and key market players. In addition, increasing prevalence of eye disorders such as cataract, age-related muscular degeneration, glaucoma, diabetic retinopathy, and others is anticipated to accelerate the demand for ophthalmic drugs in this region. It is estimated that more than 3 million Americans are living with glaucoma and 2.7 million of them belong to the age group of 40 years and above.

Asia Pacific is anticipated to witness fastest growth with a lucrative CAGR during the forecast period owing to high unmet clinical needs, rising disposable income, availability of effective treatment methods, and rising awareness about early diagnosis in emerging countries. It was reported that around two-third of the population in the Asia Pacific region are blind or vision impaired. Moreover, development of various novel technologies in developing markets such as China & India is expected to improve healthcare facilities.

Competitive Insights

Some of the key players includeNovartis AG; Allergan; Santen Pharmaceutical Co., Ltd.; Pfizer Inc.; Merck & Co., Inc.; and Genentech, Inc. Manufacturers are in the process of identifying new indications of existing drugs by conducting extensive clinical trials and targeting untapped opportunities.

These key players are adopting strategies such as mergers & acquisitions and collaborations for the development of new products. For instance,in October 2016, Teva Pharmaceutical Industries Ltd. acquired Anda, Inc. (subsidiary of Allergan Plc), a leading distributor of generic drugs in the U.S., thereby strengthening its distribution network.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the ophthalmic therapeutics/drugs market on the basis of drug class, disease, dosage form, product, and region:

• Drug Class Outlook (Revenue, USD Million; 2014 - 2025)

  • Antiallergy

  • Anti-VEGF agents

  • Anti-inflammatory

    • Nonsteroidal drugs

    • Steroidal drugs

  • Antiglaucoma

  • Others

• Disease Outlook (Revenue, USD Million; 2014 - 2025)

  • Dry Eye

  • Allergies

  • Glaucoma

  • Inflammation/Infection

  • Retinal Disorders

  • Uveitis

  • Others

• Dosage form Outlook (Revenue, USD Million; 2014 - 2025)

  • Gels

  • Eye solutions

  • Capsules & Tablets

  • Eye drops

  • Ointments

• Product Outlook (Revenue, USD Million; 2014 - 2025)

  • Prescription drugs

  • OTC drugs

• Regional Outlook (Revenue, USD Million; 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • Japan

    • India

  • Latin America

    • Mexico

    • Brazil

  • MEA

    • South Africa