Ophthalmology Drugs Global Market Report 2022 – Yahoo Finance

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Major companies in the ophthalmology drugs market include Regeneron Pharmaceuticals, Inc. , Novartis AG, AbbVie, Santen Pharmaceutical Co. , F. Hoffmann-La Roche Ltd. , Bausch Health Companies Inc. , Bayer AG, Sumitomo Chemical Co.
New York, March 04, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report "Ophthalmology Drugs Global Market Report 2022" – https://www.reportlinker.com/p06241979/?utm_source=GNW
ltd., Mitsubishi Tanabe Pharma Corporation and Horizon Therapeutics plc.

The global ophthalmology drugs market is expected to grow from $50.62 billion in 2020 to $56.07 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $80.10 billion in 2025 at a CAGR of 9.3%.

The ophthalmology drugs market consists of sales of ophthalmology drugs and related services by entities (organizations, sole traders and partnerships) that produce ophthalmology drugs to treat eye related diseases.The ophthalmology drugs industry includes establishments that produce pharmaceutical drugs to treat glaucoma diseases, anti- inflammatory and tear stimulating drugs under dry eye medications drugs, and other drugs for treating retinal disorders and allergies.

Some of the major ophthalmic drugs include Eylea, Lucentis, Restasis, Vigamox, Azopt, and Lotemax.

The main types of ophthalmology drugs are antiglaucoma drugs, dry eye medication, and other ophthalmological drugs (retinal disorders, anti-infectives/allergy).Anti-glaucoma drugs are medications used to prevent or treat glaucoma, which is a disease in which the optic nerve is damaged, resulting in progressive, irreversible vision loss.

The different types include pharmaceutical drugs, and biologics.The drugs are administered through oral, parenteral, and others that are classified into branded and generic drugs.

The various mode of purchase includes prescription-based drugs and over-the-counter drugs which are distributed by hospital pharmacies, retail pharmacies/ drug stores and others.

North America was the largest region in the ophthalmology drugs market in 2021.Middle East is expected to be the fastest growing region in the forecast period.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The expected rise in eye laser surgeries will contribute to the ophthalmology drugs market.Ophthalmology research has proved a link between laser eye surgeries and the prevalence of dry eye disorders.

In an eye laser procedure, cutting of some nerves in the cornea leads to reduction in corneal sensitivity, in response to which, eyes may not sense the need for lubrication, causing the body to produce fewer tears.Dry eye is a common side effect after laser vision correction surgeries.

It is estimated that almost half of the patients that undergo a laser surgery experience some degree of dry eye condition following the procedure.The number of eye laser procedures rose to 720,000 a year in 2020.

A rising number of people going for laser eye surgeries is expected to increase the demand for dry eye medications in the forecast period driving the ophthalmology drugs market.

Regulatory changes are likely to lead to increased costs relating to new product development and service offerings to clients.These changes are related to data protection such as the European Union’s General Data Protection Regulation (GDPR), changes to drug approval procedures and other regulatory changes.

For instance, according to a study on 100 Data Privacy and Data Security statistics for 2020, GDPR compliance is a top priority for 58% of European companies.The GDPR regulation is a EU law on data protection and privacy of individuals residing the European Union and the European Economic Area (EEA).

It also regulates data anonymization thus maintaining integrity of data dealing with patients and other clinical trial studies. The potential loss of revenue due to delays in product release and additional costs incurred due to stringent approval processes puts strain to investments relating to new product development, thereby affecting the growth of the ophthalmology drugs market.

Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to ease patient treatment for dry eye syndrome.Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the dry eye syndrome, with the topical corticosteroid drops being the most common therapy.

Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye.However, prolonged usage of corticosteroids has seen to produce side effects that include risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation.

As a consequence, NSAIDs are increasingly being used as dry eye treatment instead of steroids to minimize the side effects. For instance, Aciex Therapeutics, a US-based pharmaceutical company, is developing NSAIDs which decrease ocular discomfort.

The countries covered in the ophthalmology drugs market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.

Read the full report: https://www.reportlinker.com/p06241979/?utm_source=GNW

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