As seen, the ophthalmic industry is a rapidly growing area in today’s medical world due to the ever increasing aging population in the world. Ophthalmic drugs cover a wide range of tools and products which are used in eye surgery and curing different types of eye ailments. Ophthalmic drugs are the drugs that are used for the treatment of eye diseases and disorders. The ophthalmic drugs market is growing due to increase in prevalence of eye disorders and the use of combination therapies. Combination therapies have various advantages over traditional medication such as improved patient compliance and efficacy. Other drivers supporting the Ophthalmic drugs market include the lack of awareness among people regarding eye ailments, disorders and lack of health insurance amongst people within the developing and especially the underdeveloped countries lies.
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In today’s millennial world, ophthalmic drugs is a booming market because of the increasing eye ailments among the seniors. These include intraocular eye disorders such as cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, etc. Further, problems such as dry-eye, conjunctivitis, ileitis, and others are further piling up and is growing exponentially over the years. Hence, major firms are largely investing in R&D of their ophthalmic division and are trying to come up with the next-gen solutions.
Analysis by Treatment: The market is segmented into Dry eye drugs, Retinal drugs, Anti-inflammatory/allergy/infective drugs, Anti-glaucoma drugs. Glaucoma has the largest market share in the ophthalmic drugs market.
Analysis by Drugs: The market is segmented based on the Anti-inflammatory Drugs (Nonsteroidal Anti-inflammatory Drugs and Steroids), Anti-infective Drugs (Anti-fungal Drugs and Anti-bacterial Drugs), Anti-glaucoma Drugs (Alpha Agonist, Beta Blockers, Prostaglandin Analogs, and Combined Medication), Anti-allergy Drugs, and Anti-VEGF Agents.
The market is widely divided demographically, with US enjoying the largest market share globally and UK having the largest share in Europe. APAC, Japan & Asia-Pacific also grant themselves a dominant market share.
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Some of the major players in the market include Novartis, Shire, Aerie Pharmaceuticals, Inc., Bayer AG, Pfizer Inc., Valeant Pharmaceuticals International, Inc., Genentech, Inc. , Regeneron Pharmaceuticals, Inc., and Santen Pharmaceutical Co., Ltd.
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