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The global ophthalmic drugs market is experiencing significant growth, driven by a surge in individuals suffering from various eye disorders. Conditions such as glaucoma, age-related macular degeneration, dry eye syndrome, and inflammation are placing a growing burden on low and middle-income families worldwide. According to the International Agency for the Prevention of Blindness (IAPB), age-related macular degeneration is one of the leading causes of blindness, with the number of patients projected to exceed 285 million by the end of 2040 globally.

For More Industry Insight Read: www.fairfieldmarketresearch.co…

The World Health Organization (WHO) reports that approximately 2.2 billion people worldwide suffer from near or distance vision impairment. Shockingly, around 1 billion of these cases of vision impairment go untreated despite being preventable. This high burden of eye disorders in society presents a significant opportunity for the demand of advanced ophthalmic drugs, thereby contributing to the growth of the ophthalmic drugs market. To address this growing need, companies are engaging in collaborations and partnerships. In 2022, Alcon signed an agreement to acquire EYSUVIS eye drops from Kala Pharmaceuticals Inc., exemplifying the efforts to meet the increasing demand for ophthalmic drugs.

One area experiencing ascending demand within the ophthalmic drugs market is anti-glaucoma drugs. The rising prevalence of glaucoma, particularly among the geriatric population, has led to increased adoption of these drugs. BrightFocus Foundation analysis reveals that over three million individuals aged 40 and above in America suffer from open-angle glaucoma. Globally, glaucoma affected more than 80 million people in 2020, and this number is projected to exceed 100 million by the end of 2040. As a result, the use of anti-glaucoma drugs is expected to contribute to the value growth of the ophthalmic drugs market.

Asia Pacific remains a highly attractive region for the ophthalmic drugs market due to its large customer base supported by stable economic growth and GDP per capita. The United Nations reports that Asia Pacific is home to over 4 billion individuals, accounting for approximately 60% of the global population. Fast-developing economies such as China and India, which have high populations, are particularly affected by eye disorders and their associated burdens. The prevalence of various eye disorders and vision impairment cases has led to increased usage of ophthalmic drugs in the region. The aging population in Asia Pacific is also a significant factor contributing to health risks such as diabetes and hypertension, which, in turn, result in a growing number of patients with eye disorders. With the number of individuals aged 60 years and above expected to surpass 1 billion in Asia Pacific by 2050, the region's burden of eye disorders is anticipated to increase, further propelling the growth of the ophthalmic drugs market. Additionally, ongoing research and development efforts by pharmaceutical companies, leading to new drug development, are expected to boost the market. For example, in 2021, Arctic Vision's IND (Investigational New Drug) application for phase 3 research of ARVN003, a treatment for presbyopia, was approved by the Centre for Drug Evaluation and Research and the China National Medical Products Administration.

Major players in the ophthalmic drugs market are actively launching new products to enhance their portfolios and maintain their market position. For instance, Sandoz introduced brimonidine tartrate/timolol maleate solution in the United States in 2022 to reduce eye pressure in individuals with ocular hypertension or high eye pressure. Similarly, Sun Pharma launched a new ophthalmic solution called Cequa in Canada in January 2022 for the treatment of dry eye syndrome.

Prominent players in the ophthalmic drugs market include Abbvie Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Pfizer Inc., Santen Pharmaceutical Co. Ltd., Regeneron Pharmaceuticals Inc., Sun Pharmaceuticals Industries Ltd., Bausch & Lomb Inc., Teva Pharmaceuticals, and Valeant Pharmaceuticals Inc.

As the global prevalence of eye disorders continues to rise, the ophthalmic drugs market is poised for further growth. With advancements in drug development and increased efforts to address the unmet needs of patients, the industry is set to provide improved treatments and a brighter future for those affected by these conditions.

Web : www.fairfieldmarketresearch.co…

Description

The global ophthalmic drugs market is experiencing significant growth, driven by a surge in individuals suffering from various eye disorders. Conditions such as glaucoma, age-related macular degeneration, dry eye syndrome, and inflammation are placing a growing burden on low and middle-income families worldwide. According to the International Agency for the Prevention of Blindness (IAPB), age-related macular degeneration is one of the leading causes of blindness, with the number of patients projected to exceed 285 million by the end of 2040 globally.

For More Industry Insight Read: www.fairfieldmarketresearch.co…

The World Health Organization (WHO) reports that approximately 2.2 billion people worldwide suffer from near or distance vision impairment. Shockingly, around 1 billion of these cases of vision impairment go untreated despite being preventable. This high burden of eye disorders in society presents a significant opportunity for the demand of advanced ophthalmic drugs, thereby contributing to the growth of the ophthalmic drugs market. To address this growing need, companies are engaging in collaborations and partnerships. In 2022, Alcon signed an agreement to acquire EYSUVIS eye drops from Kala Pharmaceuticals Inc., exemplifying the efforts to meet the increasing demand for ophthalmic drugs.

One area experiencing ascending demand within the ophthalmic drugs market is anti-glaucoma drugs. The rising prevalence of glaucoma, particularly among the geriatric population, has led to increased adoption of these drugs. BrightFocus Foundation analysis reveals that over three million individuals aged 40 and above in America suffer from open-angle glaucoma. Globally, glaucoma affected more than 80 million people in 2020, and this number is projected to exceed 100 million by the end of 2040. As a result, the use of anti-glaucoma drugs is expected to contribute to the value growth of the ophthalmic drugs market.

Asia Pacific remains a highly attractive region for the ophthalmic drugs market due to its large customer base supported by stable economic growth and GDP per capita. The United Nations reports that Asia Pacific is home to over 4 billion individuals, accounting for approximately 60% of the global population. Fast-developing economies such as China and India, which have high populations, are particularly affected by eye disorders and their associated burdens. The prevalence of various eye disorders and vision impairment cases has led to increased usage of ophthalmic drugs in the region. The aging population in Asia Pacific is also a significant factor contributing to health risks such as diabetes and hypertension, which, in turn, result in a growing number of patients with eye disorders. With the number of individuals aged 60 years and above expected to surpass 1 billion in Asia Pacific by 2050, the region's burden of eye disorders is anticipated to increase, further propelling the growth of the ophthalmic drugs market. Additionally, ongoing research and development efforts by pharmaceutical companies, leading to new drug development, are expected to boost the market. For example, in 2021, Arctic Vision's IND (Investigational New Drug) application for phase 3 research of ARVN003, a treatment for presbyopia, was approved by the Centre for Drug Evaluation and Research and the China National Medical Products Administration.

Major players in the ophthalmic drugs market are actively launching new products to enhance their portfolios and maintain their market position. For instance, Sandoz introduced brimonidine tartrate/timolol maleate solution in the United States in 2022 to reduce eye pressure in individuals with ocular hypertension or high eye pressure. Similarly, Sun Pharma launched a new ophthalmic solution called Cequa in Canada in January 2022 for the treatment of dry eye syndrome.

Prominent players in the ophthalmic drugs market include Abbvie Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Pfizer Inc., Santen Pharmaceutical Co. Ltd., Regeneron Pharmaceuticals Inc., Sun Pharmaceuticals Industries Ltd., Bausch & Lomb Inc., Teva Pharmaceuticals, and Valeant Pharmaceuticals Inc.

As the global prevalence of eye disorders continues to rise, the ophthalmic drugs market is poised for further growth. With advancements in drug development and increased efforts to address the unmet needs of patients, the industry is set to provide improved treatments and a brighter future for those affected by these conditions.

Web : www.fairfieldmarketresearch.co…