Visiongain has published a new report: Ophthalmic Drugs Market Report 2025-2035: Forecasts by Type (Prescription Drugs, OTC Drugs), by Indication (Retinal Disorders, Infection/Inflammation/Allergy, Glaucoma, Dry Eye, Others), by Route of Administration (Topical, Parenteral), by Distribution Channel (Hospital Pharmacies, Drug Stores, Online Pharmacies) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies.

The global ophthalmic drugs market is estimated at US$35.26 billion in 2025 and is projected to grow at a CAGR of 7.2% during the forecast period 2025-2035.

The expansion of the ophthalmic drugs market has been significantly promoted by the increasing prevalence of eye-related conditions. The demand for effective therapeutic solutions has been significantly increased by this trend, which is characterized by a continuous increase in the incidence of various ocular disorders. This expanding requirement is the result of a variety of factors.

Currently, over 2.2 billion individuals worldwide are afflicted by either near-sightedness (myopia) or farsightedness (hyperopia). Approximately 1 billion individuals within this demographic have either not addressed or could have potentially prevented their vision issues. Worldwide, cataracts and refractive errors are the most prevalent causes of visual impairment and blindness. According to recent statistical data, only 36% of individuals with refractive errors-induced distance vision impairments and a mere 17% of those with cataract-induced vision impairments have received appropriate treatment.

The estimated annual global cost of lost productivity due to visual impairment is approximately $411 billion, and the substantial economic repercussions of this gap in treatment access are significant. Visual impairment is a condition that affects individuals of all ages, with a particularly high prevalence among those aged 50 and older.

The escalating prevalence of eye-related disorders is further exacerbated by environmental stressors, shifting lifestyle patterns, aging populations, and increased medical awareness. All of these factors contribute to the expansion of the ophthalmic drugs market. Therefore, it is anticipated that the market will experience substantial growth in the near future due to the increasing demand for innovative and effective medications to alleviate the burden of ocular conditions.

How will this Report Benefit you?

Visiongain’s 344-page report provides 129 tables, 178 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the global ophthalmic drugs market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for ophthalmic drugs. Get financial analysis of the overall market and different segments including mode of delivery, clinical trial phase, therapeutic area, and end users, company size and capture higher market share. We believe that there are strong opportunities in this fast-growing ophthalmic drugs market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Presence of Strong Emerging Pipeline Drugs Projected to Boost Industry Growth

Pharmaceutical companies are strategically expanding their product pipelines through partnerships, acquisitions, and collaborations, particularly focusing on clinical-stage candidates. This approach is set to significantly enhance the global ophthalmic drugs market. A key driver of this growth is the introduction of innovative drugs that address unmet medical needs, offering advanced therapeutic options for various eye conditions.

These new drugs, as they advance through clinical trials and secure regulatory approvals, broaden the spectrum of treatment options available to healthcare professionals, enabling more personalized patient care. This not only improves therapeutic outcomes but also strengthens the market presence of firms actively expanding their drug pipelines through these strategic initiatives. 

Increasing Prevalence of Diabetes

The ophthalmic drugs market has experienced significant growth as a result of the increasing prevalence of diabetes. The demand for ophthalmic treatments is on the rise as the global incidence of diabetes continues to rise, particularly in both developed and developing nations, due to associated complications such as diabetic retinopathy and diabetic macular edema. The retinal vasculature is significantly affected by diabetes, which is characterized by chronically elevated blood sugar levels, resulting in vision-threatening conditions. This has exacerbated the necessity for sophisticated pharmaceutical interventions to treat diabetic eye diseases.

Currently, 537 million individuals between the ages of 20 and 79 worldwide are afflicted with diabetes, as per the International Diabetes Federation (IDF). This figure is anticipated to increase by 46%, attaining 643 million by 2030 and 783 million by 2045. It is important to note that 75% of adults with diabetes live in low- and middle-income countries, where healthcare access and preventive measures are frequently restricted. The risk of severe complications, including cardiovascular disease, kidney failure, and vision problems, is increased by the fact that nearly half of individuals with diabetes (240 million) remain undiagnosed.

Diabetes is a significant socioeconomic burden, accounting for 9% of all adult healthcare costs, which amounts to a minimum of USD 966 billion annually. Diabetes is responsible for approximately 6.7 million fatalities annually, which further emphasizes its impact. Furthermore, type 1 diabetes is diagnosed in more than 1.2 million children and adolescents (aged 0 to 19), and the prevalence of type 2 diabetes is at an elevated risk for 541 million individuals.

Unhealthy diets, obesity, sedentary lifestyles, and an aging global population are the primary factors contributing to the increase in diabetes cases. India, China, the United States, Russia, Indonesia, Japan,   Brazil, Italy, Pakistan, and Bangladesh are among the countries with a particularly high prevalence.

The ophthalmic drugs sector is experiencing a surge in research and development investments as governments and healthcare organizations prioritize the reduction of the socioeconomic impact of visual disabilities by addressing diabetes-related complications. The ophthalmic drugs market is experiencing a favorable environment for growth due to the convergence of a growing prevalence of diabetes, a subsequent increase in diabetic eye diseases, and ongoing advancements in pharmaceutical solutions.

Nevertheless, the efficacy and accessibility of these treatments are critical factors in determining the market’s growth trajectory. It is imperative to address this critical healthcare challenge and enhance patient outcomes through the equitable distribution of ophthalmic drugs and continuous innovation.

Nonetheless, it is crucial to acknowledge that the market’s trajectory is closely linked to the effectiveness and accessibility of these drugs, underscoring the necessity for ongoing innovation and equitable distribution to effectively address this critical healthcare challenge.

Where are the Market Opportunities?

Increasing Investment in Research and Development

The ophthalmic drugs market is undergoing substantial growth as a result of the reshaping of the industry landscape by the increasing investments in Research and Development (R&D). The increasing global prevalence of eye conditions, including diabetic retinopathy, glaucoma, and age-related macular degeneration (AMD), is a significant factor contributing to this increase in R&D spending. Pharmaceutical companies are allocating substantial resources to the development of more effective and targeted therapies to address these challenges as these conditions become more prevalent.

Pharmaceutical companies are adjusting their research and development strategies to accommodate the increasing demand for innovative treatments, with a particular emphasis on personalized medicine to address the unmet medical needs of patients with vision-related disorders. This transition is anticipated to result in the creation of innovative therapies, such as gene therapies, bispecific antibodies, and regenerative medicines, which have the potential to revolutionize the ophthalmic treatment landscape.

In 2023, Merck & Co. allocated approx. 50% of its revenue to R&D. This was partially due to its strategic acquisition of Prometheus for $10.3 billion. Merck’s commitment to diversifying its therapeutic portfolio in both established and emerging sectors is evidenced by this investment.

Pfizer, which generated revenues comparable to Merck’s at $60.1 billion, allocated 18.29% of its revenue ($10.7 billion) to research and development. The company pursued a more conservative strategy by concentrating on strategically targeted areas.

In addition, the development and commercialization of new ophthalmic therapies are being expedited by the increasing R&D activity, which is fostering collaborations among major pharmaceutical companies, biotechnology firms, and research institutions. This heightened emphasis on the development of differentiated therapeutic portfolios, partnerships, and innovation is expected to exacerbate competition in the ophthalmic drug market and expand the variety of treatment options available to patients.

On July 23, 2024, Eyenovia, Inc., a commercial-stage ophthalmic company with two FDA-approved products and a late-stage asset in pediatric progressive myopia, entered into a collaboration agreement with Senju Pharmaceutical Co., Ltd. (Senju). The agreement outlines the intention of both companies to collaborate on the development of Senju’s corneal epithelial wound healing candidate, SJP-0035, for use with Eyenovia’s Optejet dispensing technology as a potential treatment for chronic dry eye disease.

Rise in Geriatric Population

The ophthalmic drugs market is presented with a timely and lucrative opportunity due to the substantial growth of the global geriatric population. The demand for effective treatments for age-related eye conditions, including cataracts, glaucoma, macular degeneration, and diabetic retinopathy, is expected to increase significantly, as the number of individuals aged 65 and older is expected to more than double from 761 million in 2021 to 1.6 billion by 2050. The urgent necessity for advanced ophthalmic care is underscored by the fact that the population aged 80 and older is expanding at an even faster pace.

According to the United Nations, the share of the global population aged 65 and over will grow from 10% in 2022 to 16% by 2050. This demographic will surpass children under the age of five and nearly equal those under the age of twelve by that time. This demographic shift, which is influenced by medical advancements, not only increases the prevalence of vision-related ailments but also represents a market that is characterized by increased health awareness and financial capability. The demand for innovative ophthalmic drugs is being driven by the increased inclination of the elderly population to invest in quality eye care.

The economic and social consequences of vision impairment among seniors are becoming more apparent to healthcare systems and governments, which has resulted in the implementation of supportive policies that facilitate access to advanced treatments. This presents a compelling opportunity for industry players to align their R&D, marketing, and distribution strategies with the requirements of the aging population. Companies that effectively address this increasing demand will not only achieve substantial market gains but also contribute to the enhancement of the quality of life for the elderly, thereby reinforcing their dedication to the health and well-being of society.

Competitive Landscape

The major players operating in the ophthalmic drugs market are Novartis AG, Bayer AG, Pfizer Inc., Bausch + Lomb Corporation, Santen Pharmaceutical Co., Ltd., Johnson & Johnson Services, Inc., Regeneron Pharmaceuticals Inc., AbbVie Inc., F. Hoffmann-La Roche Ltd., Teva Pharmaceutical Industries Ltd., Alcon, Apellis Pharmaceuticals among others. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

On 2^nd October 2024, Novaliq, a biopharmaceutical company specializing in innovative ocular therapeutics, and Laboratoires Théa, independent eye care group in Europe, announced that the European Commission granted approval for Vevizye (ciclosporin 0.1% eye drops solution) in the European Union. 

On 4^th October 2024, Alembic Pharmaceuticals received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Alcaftadine Ophthalmic Solution. The newly approved product is therapeutically equivalent to the reference listed drug, Lastacaft Solution by AbbVie Inc.  

On 19^th September 2024, J&J closed a transaction as the co-lead investor of Series D funding in Orasis Pharmaceuticals, creators of the QLOSI (pilocarpine hydrochloride ophthalmic solution) 0.4%, prescription eye drops, for presbyopes seeking a break from readers.  

Notes for Editors

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