Optical Disorders Drugs Market Size, Share, Industry, Forecast and Outlook (2024-2031)

Global Optical Disorders Drugs Market Size, Share & Trends Analysis Report By Prescription Type, By Indication, By Route of Administration, By Distribution Channel, By Region, And Segment Forecasts, 2024 – 2031

Market Overview

Global Optical Disorders Drugs Market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031

Optical disorders, including glaucoma, cataracts, macular degeneration, and diabetic retinopathy, affect the eyes and vision. Treatment involves drugs targeting the underlying causes or symptoms. For glaucoma, medications reduce intraocular pressure, while for macular degeneration, they inhibit abnormal blood vessel growth. These drugs, available in eye drops, oral medications, and injections, help manage symptoms, slow disease progression, and improve the quality of life for individuals with optical disorders.

Market Scope

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Market Dynamics: Drivers & Restraints

The increasing prevalence of age-related macular degeneration 

Age-related macular degeneration (AMD) is an eye disorder that affects the macula, the central part of the retina, causing damage to sharp and central vision. There are two forms: wet AMD, where abnormal blood vessels grow under the macula, leading to blood and fluid leakage, and rapid central vision loss; and dry AMD, where the macula thins over time as part of aging, gradually blurring central vision. Both forms can cause vision loss.

For instance, according to an article published in NCBI, it estimates, 200 million people worldwide are estimated to have AMD, and by 2040, this number is projected to rise to close to 300 million. By 2050, 5.4 million Americans are anticipated to be affected by rising patterns similar to this one.

Side effects of the optical disorders oral drugs

Oral drugs can affect various parts of the body, including the eye, due to their rich blood supply and small mass. Alpha-adrenergic receptor antagonists, such as tamsulosin, can cause Intraoperative floppy iris syndrome, causing the iris to become free during cataract surgery. 

This increases the risk of iris damage, blurred vision, sensitivity to light, and difficulty driving at night. Additionally, floppy iris syndrome increases the risk of damage to the posterior lens capsule, a poor prognostic factor for cataract surgery. These side effects are expected to hinder the market growth over the forecast period.

Segment Analysis

The global optical disorders drugs market is segmented based on prescription type, indication, route of administration, distribution channel, and region.

The OTC drugs from the prescription type segment accounted for approximately 42.3% of the optical disorders drugs  market share

The OTC drugs from the prescription type segment accounted for approximately 42.3%. The growth of the segment is attributed to the increasing penetration of generics in the market aided by the loss of patent exclusivities of major drugs. The relatively low cost of these drugs makes it affordable for a large patient base in low- and middle-economic countries. OTC drugs for ophthalmic use have anti-inflammatory, anti-infective, and antibiotic properties. They are commercially available in various dosage forms including emulsions, capsules, ointment, gels, and drops.

For instance, in January 2024, Cepham, a supplier specializing in Ayurvedic ingredients, launched a new eye health formulation called Luteye, which combines the macular carotenoids lutein and zeaxanthin with extra virgin olive oil enriched with oleocanthal. The formulation is designed to target the effects of aging on eye health.

Geographical Analysis

North America is estimated to hold about 38.4% of the total market share throughout the forecast period

North America is estimated to hold about 38.4% of the total market share throughout the forecast period due to the high prevalence of retinal diseases in North America is attributed to government initiatives and a developed region with high healthcare expenditure. The presence of regulatory entities in these countries is expected to boost the development of ophthalmic drugs, as they raise awareness about dry eye treatment therapies' potential in disease management. This high prevalence and increasing eye treatment procedures aid in the region's expansion.

For instance, in March 2023, the U.S. Food and Drug Administration approved Narcan, 4 milligram (mg) naloxone hydrochloride nasal spray for over-the-counter (OTC), nonprescription, use – the first naloxone product approved for use without a prescription. Naloxone is a medication that rapidly reverses the effects of opioid overdose and is the standard treatment for opioid overdose.

Covid 19 Impact Analysis

The COVID-19 pandemic has significantly impacted daily ophthalmology services, with eye care professionals at high risk due to their closeness and short working distance. Conjunctivitis may be one of the first signs of COVID-19, preventing the emergence of additional symptoms. Urgent care is given to patients with sudden-onset visual loss, squints, floaters, or severe lid edema.

Market Segmentation

By Prescription Type

• Over-The-Counter Drugs
  • Lutein
  • Opcon-A
  • Naphcon-A
  • Visine A.C.
  • Naphazoline / zinc sulfate
  • Others
• Prescription Ophthalmic Drugs
  • Lucentis
  • Lotemax
  • Ozurdex
  • Combigan
  • Diamox
  • Others

By Indication

• Age-Related Macular Degeneration
• Conjunctivitis
• Diabetic Macular Edema
• Eye Redness
• Glaucoma
• Keratitis
• Others

By Route of Administration

• Oral
• Ophthalmic

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Novartis AG, Apollo Endosurgery, Cipla Pharmaceuticals, Eyegate Pharmaceuticals, Merck & Co, Pfizer, Inc, Roche Holding AG, Santen Pharmaceutical Co., Ltd, Senju Pharmaceutical Co., Ltd, Sun Pharmaceuticals Industries, Ltd among others

Key Developments

• In February 2023, Bayer AG submitted aflibercept 8 mg for regulatory approval in the EU for two major retinal diseases.
• In January 2023, Bausch Health Companies, Inc. launched PreserVision AREDS 2 Formula minigel eye vitamins in the U.S. It was developed for people with moderate-to-advanced AMD.

Why Purchase the Report?

• To visualize the global optical disorders drugs market segmentation based on prescription type, indication, route of administration, distribution channel, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• excel data sheet with numerous data points of the optical disorder’s drugs market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global optical disorders drugs market report would provide approximately 64 tables, 61 figures, and 186 pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies