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Ophthalmic Drugs Market Reviews 2027 | TMR Study
Ophthalmic Drugs Market: Overview
According to Transparency Market Research's latest report on the global Ophthalmic Drugs Market for the historical period 2017-2018 and forecast period 2019-2027, Rising adoption of newly developed therapeutics in ophthalmology, Increasing incidence rates of eye related disorders, Advanced retinal treatment approvals for unmet needs in eye disorders, Significant awareness about the diagnosis and treatment of eye disorders are projected to drive the global Ophthalmic Drugs Market during the forecast period.
According to the report, the global Ophthalmic Drugs Market was valued at US$ 26.0 Bn in 2018and is anticipated to expand at a CAGR of1% from 2019 to 2027
Request A Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1769
Rising adoption of newly developed therapeutics in ophthalmology: Key Drivers
As the number of FDA approvals for advanced therapeutics is increasing, the rate of adoption of these newly launched drugs is also rising exponentially.
In August 29 2016,Shire introduced Xiidra, a lymphocyte function-associated antigen-1 (LFA-1) antagonist, challenging Allergan's Restasis, and a cyclosporine immunosuppressant. Both drugs are available at the same price level - around US$ 5,000.0 per year
Restasis gathered a revenue of US$ 1419.5 Mn in 2016, whereas Xiiadra earned US$ 54.0 Mnin just four months from its introduction.
During October 2016, Xiiadra had 9,963 total prescriptions, up by7% than the earlier week, compared to which Restasis prescriptions fell by 1.7% as compared to the prior week, which resulted in increase in Shire's market share to 13.3% from 12.2% in the prior week.
Shire has set the sales target of US $726.0 Mnand US$ 1,140.0 Mn in 2017, and 2018, respectively. It is estimated to overcome Allergan's market share in dry eye treatment with these statistics
A similar trend of significant new drug adoption is anticipated to be followed, and is projected to drive the expansion of the global ophthalmic drugs market
Increasing incidence rates of eye related disorders Market Growth
There is an alarming rise in incidence of eye related diseases, especially in the developed countries, which is anticipated to drive the growth of the ophthalmic drugs market during 2017-2025
According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from 4 Mnin 2010, to 30.5 Mn by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 Mn in 2010 to 9.2 Mn in 2020
The patients for open angle glaucoma and AMD in U.S., were 7 Mnand 2.1 Mn, respectively, which are projected to increase to 3.3 Mn and 2.5 Mn, respectively, till 2020
The increasing patient pool in developing countries as well as developed regions is estimated to propel healthcare spending for eye treatments in each region and drive the growth of the ophthalmic drugs market.
Request Report Methodology: https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=1769
Advanced retinal treatment approvals for unmet needs in eye disorders drive the market
Eye diseases such as chronic or recurrent uveitis, optic nerve, neurodegeneration retinitis pigmentosa, retinoblastoma, etc., lack an effective treatment option, and thus are categorized as unmet medical needs within the ophthalmologic diseases space
Several new entrants are dedicated to provide specialized treatment methods for eye diseases:
On May 18 2017,Spark Therapeutics, Inc. submitted the first and only Biological License Application to the U.S. FDA for the treatment of Leber's congenital amaurosis by gene therapy
On March 25 2015,Regeneron Pharmaceuticals Inc., announced the approval of Eylea, the first VEGF inhibitor approved for dosing on a less than monthly basis for the treatment of diabetic macular edema
Severe inflammatory eye diseases, such as uveitis, lacked a solid treatment option earlier to the FDA approval of Humira for the indication of non-infectious intermediate, posterior, and panuveitis in adult patients
In June 2016,the U.S. FDA approved the first and only biologic approved drug, Humira, for the treatment of uveitis
Such approvals for advanced treatment options for the treatment of unmet medical needs in the field of eye disorders are projected to boost the expansion of the global ophthalmic drugs market
Non-compliance with treatment to Hamper Market
Topical drug delivery methods are widely employed in case of ophthalmic drugs. The success rate of the medication depends upon the patient's ability to comply with prescribed therapeutic treatment
Lack of knowledge, intolerance, misunderstanding, and denial are some reasons behind the non-compliance
As per a study published in American Academy of Ophthalmology, the overall non-compliance rate was around 50%for glaucoma, with lack of knowledge, misunderstanding, and denial accounting for more than 70% of the total non-compliance rate
Non-compliance with the treatment is not influenced by gender; however, it is dependent on the understanding of the patient about the drug administration method
Increasing non-compliance due to lack of knowledge is expected to restrain the expansion of the global ophthalmic drugs market
Side effects associated with ophthalmic drugs hamper the market
Abnormal vision, blurred vision, poor focusing ability, dry/irritated eyes, color perception changes, altered pupil size are common side effects associated with ophthalmic drugs
Some side effects such as itching of eyes or stinging sensation, allergic reaction, etc., can create serious health hazards, these side effects may restrain the expansion of the global ophthalmic drugs market
Get Customization Research on this Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1769
Global Ophthalmic Drugs Market: Competitive Landscape
This report profiles major players in the global Ophthalmic Drugs Market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global Ophthalmic Drugs Market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global Ophthalmic Drugs Market are
Aerie Pharmaceuticals, Inc.
ALLERGAN
Valeant Pharmaceuticals International, Inc.
Bayer AG
Genentech, Inc. (F. Hoffmann-La Roche Ltd.)
Novartis AG
Pfizer Inc.
Regeneron Pharmaceuticals, Inc.
Santen Pharmaceutical Co., Ltd.
About Us
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
According to Transparency Market Research's latest report on the global Ophthalmic Drugs Market for the historical period 2017-2018 and forecast period 2019-2027, Rising adoption of newly developed therapeutics in ophthalmology, Increasing incidence rates of eye related disorders, Advanced retinal treatment approvals for unmet needs in eye disorders, Significant awareness about the diagnosis and treatment of eye disorders are projected to drive the global Ophthalmic Drugs Market during the forecast period.
According to the report, the global Ophthalmic Drugs Market was valued at US$ 26.0 Bn in 2018and is anticipated to expand at a CAGR of1% from 2019 to 2027
Request A Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1769
Rising adoption of newly developed therapeutics in ophthalmology: Key Drivers
As the number of FDA approvals for advanced therapeutics is increasing, the rate of adoption of these newly launched drugs is also rising exponentially.
In August 29 2016,Shire introduced Xiidra, a lymphocyte function-associated antigen-1 (LFA-1) antagonist, challenging Allergan's Restasis, and a cyclosporine immunosuppressant. Both drugs are available at the same price level - around US$ 5,000.0 per year
Restasis gathered a revenue of US$ 1419.5 Mn in 2016, whereas Xiiadra earned US$ 54.0 Mnin just four months from its introduction.
During October 2016, Xiiadra had 9,963 total prescriptions, up by7% than the earlier week, compared to which Restasis prescriptions fell by 1.7% as compared to the prior week, which resulted in increase in Shire's market share to 13.3% from 12.2% in the prior week.
Shire has set the sales target of US $726.0 Mnand US$ 1,140.0 Mn in 2017, and 2018, respectively. It is estimated to overcome Allergan's market share in dry eye treatment with these statistics
A similar trend of significant new drug adoption is anticipated to be followed, and is projected to drive the expansion of the global ophthalmic drugs market
Increasing incidence rates of eye related disorders Market Growth
There is an alarming rise in incidence of eye related diseases, especially in the developed countries, which is anticipated to drive the growth of the ophthalmic drugs market during 2017-2025
According to the Prevent Blindness report, the number of people in the U.S., suffering from cataract is expected to increase from 4 Mnin 2010, to 30.5 Mn by 2020, and people suffering from diabetic retinopathy in U.S. are projected to increase from 7.7 Mn in 2010 to 9.2 Mn in 2020
The patients for open angle glaucoma and AMD in U.S., were 7 Mnand 2.1 Mn, respectively, which are projected to increase to 3.3 Mn and 2.5 Mn, respectively, till 2020
The increasing patient pool in developing countries as well as developed regions is estimated to propel healthcare spending for eye treatments in each region and drive the growth of the ophthalmic drugs market.
Request Report Methodology: https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=1769
Advanced retinal treatment approvals for unmet needs in eye disorders drive the market
Eye diseases such as chronic or recurrent uveitis, optic nerve, neurodegeneration retinitis pigmentosa, retinoblastoma, etc., lack an effective treatment option, and thus are categorized as unmet medical needs within the ophthalmologic diseases space
Several new entrants are dedicated to provide specialized treatment methods for eye diseases:
On May 18 2017,Spark Therapeutics, Inc. submitted the first and only Biological License Application to the U.S. FDA for the treatment of Leber's congenital amaurosis by gene therapy
On March 25 2015,Regeneron Pharmaceuticals Inc., announced the approval of Eylea, the first VEGF inhibitor approved for dosing on a less than monthly basis for the treatment of diabetic macular edema
Severe inflammatory eye diseases, such as uveitis, lacked a solid treatment option earlier to the FDA approval of Humira for the indication of non-infectious intermediate, posterior, and panuveitis in adult patients
In June 2016,the U.S. FDA approved the first and only biologic approved drug, Humira, for the treatment of uveitis
Such approvals for advanced treatment options for the treatment of unmet medical needs in the field of eye disorders are projected to boost the expansion of the global ophthalmic drugs market
Non-compliance with treatment to Hamper Market
Topical drug delivery methods are widely employed in case of ophthalmic drugs. The success rate of the medication depends upon the patient's ability to comply with prescribed therapeutic treatment
Lack of knowledge, intolerance, misunderstanding, and denial are some reasons behind the non-compliance
As per a study published in American Academy of Ophthalmology, the overall non-compliance rate was around 50%for glaucoma, with lack of knowledge, misunderstanding, and denial accounting for more than 70% of the total non-compliance rate
Non-compliance with the treatment is not influenced by gender; however, it is dependent on the understanding of the patient about the drug administration method
Increasing non-compliance due to lack of knowledge is expected to restrain the expansion of the global ophthalmic drugs market
Side effects associated with ophthalmic drugs hamper the market
Abnormal vision, blurred vision, poor focusing ability, dry/irritated eyes, color perception changes, altered pupil size are common side effects associated with ophthalmic drugs
Some side effects such as itching of eyes or stinging sensation, allergic reaction, etc., can create serious health hazards, these side effects may restrain the expansion of the global ophthalmic drugs market
Get Customization Research on this Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1769
Global Ophthalmic Drugs Market: Competitive Landscape
This report profiles major players in the global Ophthalmic Drugs Market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global Ophthalmic Drugs Market is highly fragmented, with the presence of a number of international as well as regional players
Leading players operating in the global Ophthalmic Drugs Market are
Aerie Pharmaceuticals, Inc.
ALLERGAN
Valeant Pharmaceuticals International, Inc.
Bayer AG
Genentech, Inc. (F. Hoffmann-La Roche Ltd.)
Novartis AG
Pfizer Inc.
Regeneron Pharmaceuticals, Inc.
Santen Pharmaceutical Co., Ltd.
About Us
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
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