Global OTC Ophthalmic Drugs Market

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  • Type: Common Disease Area
  • Published : March 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 368

  • Format: PPT, PDF

Global OTC Ophthalmic Drugs Market: Segmented by Indication (Dry Eye, Glaucoma, Infection/Inflammation/Allergy, Retinal Disorders, and Others), Dosage Form, Distribution Channel (Hospital Pharmacies, Drug Stores, Online Pharmacies, and Others), and Therapeutic Class (Anti-glaucoma, Anti-infection, Anti-inflammatory, and Anti-allergy) – Global Opportunity Analysis and Industry Forecast, 2019-2028

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Report Overview

The global OTC ophthalmic drugs market size stood at around USD 13.3 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

The ophthalmology drugs market is segmented by prescription type into OTC drugs and prescription drugs. The OTC drugs market was the largest segment of the ophthalmology market segmented by prescription type, accounting for 54.1% of the total in 2019

Market Growth Drivers

The increasing prevalence of eye diseases is increasing the demand for ophthalmic drugs, globally. In many developed and developing countries, eye conditions have emerged as potential threats to the status of sight of their populations. The increase in the prevalence of diabetes in various countries has caused diabetic retinopathy to be added to the priority list. Glaucoma, an eye disease known for centuries, remains on the public health agenda due to difficulties in its early diagnosis and the frequent necessity of life-long treatment. According to the WHO, in 2018, it was estimated that approximately 1.3 billion people were living with some form of vision impairment, 188.5 million people had mild vision impairment, 217 million had moderate to severe vision impairment, and 36 million people are blind. Globally, the leading causes of vision impairment are uncorrected refractive errors and cataracts, and the majority of people with vision impairment are over the age of 50 years. According to the WHO, chronic eye diseases are the number one cause of vision loss, with the top two causes being unoperated cataracts and uncorrected refractive errors. The former is the leading cause in countries with low- or middle-incomes. Hence, the rising incidence of eye-related disorders is projecting a great impact on the growth of the market

 

1. Global OTC Ophthalmic Drugs Market Overview………………………………………………
A. Market Size
2. Market Growth Drivers……………………………………………………..………………………………..
A. Rising Prevalence of Eye Disorders
B. Increasing Aging Population
C. Rising Prevalence of Lifestyle Related Diseases
3. Major Indications…………………………………………………………………………………………………
A. Allergy
B. Glaucoma
C. Dry Eye
D. Others
4. OTC Ophthalmic Drugs Market Segmentation……………..………………………………….
A. By Form
I. Cream
II. Solution
III. Others
B. By Geography
I. Hospital Pharmacies
II. Eye Health Clinics
III. Retail Pharmacies
IV. Online Pharmacies
C. By Geography
V. North America Market Analysis
VI. Europe Market Analysis
VII. Asia-Pacific Market Analysis
VIII. Latin America, Middle-East and Africa Market Analysis
5. OTC Ophthalmic Major Drugs Market Share………………………………………………….
A. Market Analysis, Insights and Forecast to 2028
6. Competitive Landscape………………………………………………………….………………………….
A. Major Players
B. Products in Pipeline
7. Key Company Profiles…………………………………………………………………………………………
A. Bayer AG Company overview, Product & Services, Strategies & Financials
B. Allergan Company overview, Product & Services, Strategies & Financials
C. Novartis AG Company Profile, Product & Services, Strategies & Financials
8. Potential Growth Opportunities………………………………………………..……………………..
A. Advancements in drug development
B. Untapped markets in developing economies
9. Factors Driving Future Growth…………………………………………………………………………
A. Key Industry Trends and Recent Developments in OTC Ophthalmic Drugs Market
B. Future Opportunities
10. Conclusion

 

Market Segmentation

By Product Type:

The OTC segment is positioned to demonstrate a strong growth rate over the forecast period. The availability of OTC products to increase patient access is expected to accelerate market growth in the near future.

For instance, in July 2020, the U.S. FDA has approved Alcon’s Pataday (olopatadine hydrochloride ophthalmic solution 0.7%) for OTC to treat eye allergy. Formerly, it was prescribed under the name of Pazeo. The development of this OTC ophthalmic solution is expected to increase the number of patients for Pataday’s product portfolio.

By Dosage Form:

The eye drops segment dominated the ophthalmic drugs market and accounted for the largest revenue share of 34.6% in 2020. The segment was driven by the ease of usage and high patient compliance. In addition, the development of eye drops for the treatment of rare eye diseases with low prevalence yet has a devastating impact on patients is expected to drive the market. For instance, in August 2018, Dompé U.S. received U.S. FDA approval for Oxervate (cenegermin) for treating. It is a topical eye drop therapy used for the treatment of neurotrophic keratitis

Key Industry Players

Some of the market participants in the global eye care products market are Allergan, Inc., Accutome Inc., Prestige Brands, Inc., Bausch & Lomb Incorporated, Croda, Akorn Consumer Health, Shire US Inc., Scope Ophthalmic Ltd., VISUfarma, Novartis AG, and Precision Lens

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

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Stage I: Market Data Collection

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Stage II: Market Data Analysis and Statistical Model

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Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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