Robust Product Pipeline Drives Global Ophthalmology Drug Market

The intensifying eye related ailments globally along with altering lifestyle and increasing healthcare outlay are the foremost driving factors in the growth of the global ophthalmic drug market. Ophthalmologic ailments cannot at present be treated, and cure is directed at dealing the ailment symptom so as to moderate the harshness of symptoms and slow development. The global profits for the ophthalmology drugs market are estimated to grow at a CAGR of 9.48%, from US$13.7 billion in 2015 to USD$26 billion in 2022.

Due to the growth in healthcare facilities, the life probability ratio has also improved, which consecutively is swelling the geriatric population globally. This aging population is more probable to suffer from vision disorders like diabetic retinopathy, presbyopia, and muscular degeneration. With the forthcoming refined technology, people now to cure their eye related complaints are gradually opting for ophthalmic treatments.

Angiogenesis inhibitors are the most active and most common therapies used in ophthalmology. This class of compounds has been the most commercially effective in the last few years creating strong annual incomes. Even though there are many generics available across the majority of ophthalmology ailments, there are a number of premium products that draw considerable revenues like Eylea, Lumigan, Lucentis, and Restasis. There are currently no therapeutic options available for the treatment of dry AMD, increasing the need for extensive R&D within this area.

Though there is a high amount of let-down and ambiguity within the R&D of ophthalmology drugs, the amount of drugs in the making is extraordinary, at 734. The maximum of pipeline products are new active pharmaceutical components, with only a minor percentage of products being either generics or transposed from other indications.  This shows development in terms of the diversity of various molecules being advanced as therapeutic agents within the ophthalmology pipeline. Along with this, the expected growth of the global ophthalmology drug market is ascribed to the sanction of new drugs, as well as rising occurrence.

The major limitations of the global ophthalmic drug market are the absence of consciousness amongst the people related to eye disorders in the underdeveloped and developing economies, patent expiry of various bestseller drugs, and the lack of health insurance is upsetting the market unfavourably.

The global ophthalmic drug market is dominated by North America due to increased initiatives to reduce blindness, as well as other related disorders amongst the geriatric population. This is closely followed by Europe, Asia Pacific and LAMEA.  Asia Pacific is projected to be one of the firmest growing markets for ophthalmic drugs in the world in the coming years, as the aging population is more susceptible to suffer from eye related disorders due to age. Countries like India and China are the major clients of the ophthalmic drugs which offer growth to the global ophthalmic drug market.

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