Ophthalmic Drugs Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Ophthalmic Drugs Market by disease condition (allergy, glaucoma, dry eye disorder and retinal disorder), dispenses type (prescription and over the counter) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Ophthalmic Drugs Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Ophthalmic Drugs Market are Abbott Healthcare, Allergan Plc, Johnson & Johnson, Bayer, Valeant Pharmaceuticals, Inc., Pfizer, Inc., Merck & Co., Novartis AG, Renegeron and Santen Pharmaceuticals Company Ltd.
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The Importance of Ophthalmic Drugs among the Aging Population Suffering from Eye Disorders are some of the Factors Contributing to the Growth in the Global Ophthalmic Drugs Market
Ophthalmic drugs are the drugs designed for the treatment of eye diseases and disorders. This administration of drug can be done by instillation of a cream, an ointment, or a liquid drop preparation in the conjunctiva SAC. The correct strength and amount of the drug are selected, and the medication is instilled into the eye or eyes as directed. The main reason of continuingly strong interest of scientists in these drugs forms is the problem of a low bioavailability of medicinal substance after the application to the eyeball. The ability to increase the bioavailability of the active substances, reducing the susceptibility of drug forms to defense mechanisms of the human eye, extending contact time of drug with the cornea, increasing the penetration through the complex anatomical structure of the eye, and providing controlled release of drugs into the eye tissues which allows reducing the drug application frequency, witnesses the importance of ophthalmic drugs among the aging population suffering from eye disorders are some of the factors contributing to the growth in the global ophthalmic drugs market.
The key factors driving the growth of ophthalmic drugs market are considered to be increasing geriatric population with rising global population, increase in prevalence of eye disorders, technological advancement, and increasing awareness in healthcare spending. Moreover, challenges faced by ophthalmic drugs market include absence of health insurance in developing countries regarding eye diseases and lack of awareness among the people regarding eye diseases and disorders in underdeveloped and developing countries. One of the key opportunities for new entrants is securing drugs through a licensing agreement with major players such as Novartis and Bayer, which could boost their growth over the forecast period.
The report on global ophthalmic drugs market covers segments such as, disease condition and dispenses type. On the basis of disease condition the global ophthalmic drugs market is categorized into allergy, glaucoma, dry eye disorder and retinal disorder. On the basis of dispense type the global ophthalmic drugs market is categorized into prescription and over the counter.
U.S. Drives the Growth in the North America Region as it is the Largest Market in the Region
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2015-2023.The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2017-2023.
Major Key Players Mentioned in this Report:
The report provides profiles of the companies in the global ophthalmic drugs market such as, Abbott Healthcare, Allergan Plc, Johnson & Johnson, Bayer, Valeant Pharmaceuticals, Inc., Pfizer, Inc., Merck & Co., Novartis AG, Renegeron and Santen Pharmaceuticals Company Ltd.
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