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(Medical-NewsWire.com, June 27, 2018 ) The ophthalmology drugs market covers drugs that are used in the treatment of eye related diseases such as refractive errors, cataracts, glaucoma, conjunctivitis, retinal diseases, and macular degeneration. Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax.
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The substantial growth of the market from $27 billion in 2017 to $37 billion by 2021 is due to the expected rise in prevalence of eye conditions such as age-related macular degeneration (AMD), diabetic retinopathy and glaucoma that require ophthalmology drugs.
In the report, the global ophthalmology drugs market is divided into three segments. Other ophthalmology drugs occupy the major share in the market, accounting for nearly three-fifth of the market and the remaining segments, antiglaucoma drugs and dry eye medication occupy two-fifth of the market share.
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The USA was the largest country in the ophthalmology drugs market in 2017, accounting for more than one-fourth of the market share. This can be attributed to the high per capita healthcare expenditure and increasing geriatric population in the country. Germany and Japan followed the USA as the next largest countries in the market.
The ophthalmology drugs market is fragmented with a number of large and small organizations. The top five competitors in the market made up around 65% of the total market in 2017. Novartis AG was the largest competitor of the market, followed by F. Hoffmann-La Roche Ltd., Allergan Plc, Valeant Pharmaceuticals Intl Inc. and Bayer AG. Novartis is a multinational pharmaceutical company that develops, manufacture and markets healthcare products. The company was founded in 1970 and is headquartered in Basel, Switzerland.
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