Ophthalmic Disease Therapeutics Market to Reach USD 54.87 Billion by 2030 with a CAGR of 6.4% during the Forecast Period; Rising Cases of Ophthalmic Diseases to Project a Growth Course for Market

The global ophthalmic disease therapeutics market size is projected to show strong growth by attaining USD 54.87 billion by 2030. Fortune Business Insights™ in its report titled “Ophthalmic Disease Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Anti-inflammatory, Anti-infectives, Anti-VEGF, Anti-glaucoma {Beta Blockers, Prostaglandins Analogs, Alpha Adrenergic Agonists, Carbonic Anhydrase Inhibitors, Combination Drugs, and Others}, and Others), By Dosage Form (Solid, Liquid, and Semisolid), By Disease Indication (Glaucoma {Open Angle Glaucoma, Angle Closure Glaucoma, and Others}, Dry Eye Disease, Retinal Diseases {Diabetic Macular Edema, Macular Degeneration, Diabetic Retinopathy, Retinal Vein Occlusion, and Others}, Allergy & Infections, and Others), By Distribution Channel (Hospital Pharmacies, and  Retail & Online Pharmacies), and Regional Forecast, 2023-2030” observes that the market size in 2022 stood at USD 33.56 billion and USD 33.57 billion in 2023. Increasing prevalence of ophthalmic disease conditions among the population is set to propel market growth. Demand for ophthalmic disease therapeutics with development of novel therapies is expected to expand market development. Increasing clinical trials and pipeline candidates for the innovation of drugs and therapies is set to push market development.

Bayer Yakuhin, Ltd. and Santen Pharmaceutical Co. to Receive Approval for Eylea which is Set Progression Market Growth

In September 2022, Santen Pharmaceutical Co., Ltd. and Bayer Yakuhin, Ltd. together received regulatory approval for use of Eylea, an intravitreal injection for additional indication of ophthalmic Vascular Endothelial Growth Factor (VEGF) inhibitor in retinopathy of prematurity. The approval for the new injection will cater to the needs of the population and increase the presence of both the companies in the market.  

Decline in Revenues of the Company Led to Negative Market Growth

The COVID-19 pandemic has negatively impacted the growth of the market. There is temporary shutdown of orthopedic clinics due to increasing focus of healthcare providers in treating COVID-19 patients. Market players experienced a decline in revenues along with the loss of their patents. Lucentis lost its patent in the U.S. in 2020 which led to the loss of revenue for F. Hoffmann-La Roche Ltd. by the decline in its ophthalmology revenue owing to generic competition for the drug.

Increasing Number of Clinical Trials and Pipeline Candidates to Propel Market Growth

Increasing number of clinical trials and pipeline candidates for innovative drugs and therapies is expected to fuel the ophthalmic disease therapeutics market growth. Rising cases of ophthalmic disease among the population is one of the factors contributing to the growing demand for effective drugs and treatment for the condition. There is increasing focus and robust efforts of the key players operating in the market to develop and launch novel therapies for catering the unmet needs of the population. In November 2022, Santen Pharmaceutical Co., Ltd. launched DIQUAS LX, an ophthalmic solution 3% for treating dry eyes.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/ophthalmic-disease-therapeutics-market-100441

Focus on R&D Activities by Healthcare Agencies to Expand Demand for the Product

There is focus on R&D activities by various healthcare agencies and market players for the development of innovative drug delivery system. Research institutes have been increasing their focus to develop and introduce novel approach for the drug delivery and this is leading to increasing clinical studies. In March 2022, Johnson & Johnson Services Inc. received the U.S. FDA approval for ACUVUE Theravision with Ketotifen, which is considered to be the world’s first and only drug eluting contact lens.

High cost of biologics due to various costs associated with its development and approvals is a crucial factor limiting the adoption of these drugs in developing countries.

Rising Number of Partnerships and Collaborations Amongst Market Players to Drive Market Share

Rising number of partnerships and collaborations amongst ophthalmic disease therapeutics players and research organizations for the development of innovative and effective gene therapies is expected to support the shifting preference of the patient population toward novel therapies. Growing number of investments of various market players in research and development activities for the development of novel drugs and therapies for the condition is resulting in increasing number of pipeline candidates for the treatment of ophthalmic disease. For instance, Ocuphire Pharma Inc. has its product candidate, APX3330 in the Phase II clinical trial. The product is used twice-a-day oral tablet for diabetic retinopathy and diabetic macular edema.

Notable Industry Development

• June 2022: F. Hoffmann-La Roche Ltd. received an authorization for Vabysmo, from Health Canada for the treatment of neovascular (wet) Age-related Macular Degeneration (AMD) and Diabetic Macular Edema (DME).

List of Key Companies Profiled in the Report:

• Regeneron Pharmaceuticals Inc. (U.S)


• AbbVie Inc. (U.S.)


• Santen Pharmaceutical Co. Ltd. (Japan)


• Novartis AG (Switzerland)


• Bayer AG (Germany)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• Viatris Inc. (U.S.)

Further Report Findings

• The market in North America stood at USD 13.79 billion in 2021 due to growing healthcare expenditure for supporting eye care and eye health and presence of adequate reimbursement for various ophthalmic disorders, which are expected to hold the largest part of the market share.


• Europe is anticipated to have significant growth in the market due to launch of new products.

Table of Segmentation