The global market for ophthalmic drugs is competitive in nature and is anticipated to witness a healthy competition throughout the forecast period, states a new market research study by Transparency Market Research. The increasing number of players entering the market and the growing focus of players on research and development activities are some of the major factors that are projected to enhance the competitive level throughout the forecast period. Some of the leading players operating in the ophthalmic drugs market across the globe are Valeant Pharmaceuticals International, Inc., Pfizer Inc., Aerie Pharmaceuticals, Inc., ALLERGAN, Shire, Genentech, Inc., Santen Pharmaceutical Co., Ltd., Novartis AG, Bayer AG, and Regeneron Pharmaceuticals, Inc.
According to the market research study by Transparency Market Research, in 2016, the global market for ophthalmic drugs was worth US$24.4 bn and is estimated to reach a value of US$34.3 bn by the end of 2025. Moreover, the market is projected to register a healthy 4.0% CAGR between 2017 and 2025.
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- Development of Novel Techniques to Encourage Growth of North America Market
Among the regional segments, North America is anticipated to witness high growth and attain a leading position throughout the forecast period. The high growth of this region can be attributed to the rising advent of advanced novel techniques and products and the increasing cost of therapies. In addition to this, the rapid development of the healthcare sector is another major factor, which is predicted to encourage the growth of the ophthalmic drugs market across North America in the near future. North America is further followed by Europe, thanks to the presence of a large number of players operating in this region. Furthermore, Asia Pacific is anticipated to register a healthy growth in the next few years, thanks to the increasing contribution from India, China, and Malaysia.
This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Ophthalmic Drugs Market (Disease Indication – Dry Eye, Glaucoma, Infection/Inflammation, Retinal Disorders (Wet Age-related Macular Degeneration, Dry Age-related Macular Degeneration, and Diabetic Retinopathy), Allergy, and Uveitis; Therapeutic Class – Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs and Anti-bacterial Drugs), and Forecast 2017 – 2025.”