Ophthalmic Disease Therapeutics Market Set to Soar Past USD 53.8 Billion by 2030
The global Ophthalmic Disease Therapeutics Market size is expected to reach USD 53.8 billion by 2030 and exhibit a CAGR of 6.10% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing prevalence of ophthalmic diseases, growing ageing population, rising awareness and diagnosis of eye disorders, advancements in treatment options, increasing healthcare expenditure, supportive government initiatives and policies, and improving access to healthcare services fuel the market’s growth.
Westford, USA, Aug. 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Ophthalmic Disease Therapeutics Market, rising adoption of gene therapy and regenerative medicine, increasing focus on precision medicine and personalized treatment approaches, growing demand for minimally invasive surgical procedures, expanding applications of artificial intelligence and machine learning in diagnosis and treatment, the emergence of combination therapies, shifting preference towards outpatient and ambulatory care settings, development of innovative drug delivery systems, are the trends that aid in the market’s growth.
Browse in-depth TOC on “Ophthalmic Disease Therapeutics Market”
- Pages – 165
- Tables – 65
- Figures – 64
Ophthalmic diseases therapeutic is a treatment for eye diseases that can be delivered through drugs, devices, or surgery. Ophthalmic diseases such as glaucoma, cataracts, and dry eye syndrome affect the eyes. Ophthalmic disease therapeutic can help to improve vision, prevent vision loss, and manage the symptoms of eye diseases.
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Prominent Players in Ophthalmic Disease Therapeutics Market
- AbbVie Inc.
- Alcon Inc.
- Bausch Health
- Carl Zeiss Meditec AG
- CooperVision Company
- Essilor International S.A.
- Glaukos Corporation
- Johnson & Johnson Vision Company
- Novartis AG
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- Santen Pharmaceutical Co. Ltd.
- SIFI Group
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceuticals
- Topcon Corporation
- Valeant Pharmaceuticals International Inc.
- Viatris Inc.
- Visudyne, Inc.
- WaveOptics Ltd.
- XOMA Corporation
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Age-related Macular Degeneration Demand to Grow Substantially in the Forecast Period
Age-related macular degeneration dominated the global market owing to its high prevalence and growing incidence. While there are several treatment options available for AMD, including anti-VEGF therapies and combination therapies, there is still a need for further advancements. Research and development efforts are focused on developing novel treatments to address the different stages and types of AMD, making it an active area of exploration and investment.
Anti-VEGF Agents are the Leading drug-class Segment
In terms of drug class, the anti-VEGF agent is the leading segment due to its efficacy in treating various eye conditions. In addition, anti-VEGF agents have been extensively studied and used in clinical practice to treat ophthalmic diseases. They have become the standard of care for neovascular AMD and have shown promising results in managing other conditions. The established use and widespread adoption of anti-VEGF agents contribute to their dominance in the market.
North America is the leading Market Due to the Advanced Healthcare Infrastructure
Region-wise, North America is one of the largest growing markets with a huge emphasis on healthcare infrastructure. The region has a relatively higher prevalence of ophthalmic diseases, such as age-related macular degeneration (AMD), glaucoma, and diabetic retinopathy. A larger patient pool drives the demand for ophthalmic disease therapeutic treatments in the region.
A recent report thoroughly analyzes the major players operating within the Ophthalmic Disease Therapeutics market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Ophthalmic Disease Therapeutics.
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Key Developments in Ophthalmic Disease Therapeutics Market
- Dextenza, a product by Ocular Therapeutix, was made available in the market. This product enables the course of steroid therapy possible just with a single installation of intracanalicular device
Key Questions Answered in Ophthalmic Disease Therapeutics Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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