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Ophthalmology Drugs Market - By Therapeutic Class (Anti-VEGF, Anti-glaucoma), Indication (Dry Eye, Allergy), Route of Administration (Topical), Type (Prescription, OTC), Dosage Form (Eye Drop, Gel), Distribution Channel, Global Forecast, 2024 – 2032

  • Report ID: GMI6288
  • Published Date: Jan 2024
  • Report Format: PDF

Ophthalmology Drugs Market Size

Ophthalmology Drugs Market size was valued at USD 31 billion in 2023 and is expected to reach USD 49.4 billion in 2032 with a CAGR of 5.1% from 2024 to 2032. The factors driving the market's growth are rising incidence of eye-related ailments, increased research & development initiatives for the production of ophthalmic drugs, and increased attention to the development of combination treatments.

Ophthalmology Drugs Market

Moreover, the ageing population and changing lifestyles have increased the incidence of eye disorders such glaucoma, cataracts, and macular degeneration, which has increased the demand for efficient ophthalmic drugs to manage and cure these conditions. In addition, technological advancements in the ophthalmology drugs market have led in the creation of innovative formulations and drug delivery technologies such as sustained-release formulations. These developments are intended to improve pharmacological efficacy, patient compliance, and treatment results for a variety of ocular disorders. Furthermore, collaboration between pharmaceutical companies, academic institutions, and research organizations is promoting the development of new drugs and treatment modalities.

Ophthalmic drugs are a class of medications created especially for the management and prevention of diseases and conditions of the eyes. These medications are used to treat inflammation, improve vision, cure infection, or slow down disease progression. Furthermore, rising spending on healthcare and awareness of eye health are projected to support the global market.


However, the resumption of treatment and diagnosis services as well as a rise in hospital visits are expected to boost demand for ophthalmic medications and stimulate market expansion.

Ophthalmology Drugs Market Trends

The rising prevalence of ocular disorders such as glaucoma, cataract, diabetic retinopathy, increasing healthcare expenditure and investments, rising research and development pertaining to the development of novel drugs, increasing focus on developing combination therapies, and increasing advancements in genomics and biomarker research are enabling more personalized approaches to ophthalmic treatments are propelling the market expansion.

  • For instance, according to The World Health Organization (WHO), approximately 2.2 billion people across the globe, are blind or have some vision impairment. Of these, 1 billion people have a condition that could be averted or is still untreated.
  • Further, WHO predicts that the number of individuals with vision impairment will increase by threefold by 2050, with the greatest increase in low- and middle-income nations. The increasing incidence of vision impairment along with the increasing awareness about eye care fuels the market growth.


As the global population continues to age, the prevalence of age-related eye conditions such as cataracts, age-related macular degeneration (AMD), and glaucoma is rising. The aging population is more susceptible to vision impairment and related eye diseases, leading to an increased demand for ophthalmic treatments.

Ophthalmology Drugs Market Analysis

Ophthalmology Drugs Market, By Therapeutic Class, 2021 - 2032 (USD Billion)

Based on therapeutic class, the market is divided into anti-VEGF agents, anti-glaucoma drugs, anti-inflammatory drugs, anti-infective drugs, anti-allergy drugs, and other therapeutic categories. The anti-VEGF agents held the major share of 38.1% in 2023.

  • The dominance of the segment can be attributed to the anti-VEGF agents, including as ranibizumab (Lucentis), aflibercept (Eylea), and bevacizumab (Avastin), have the key component for the treatment of wet AMD.
  • Further, they inhibit VEGF, a protein that stimulates aberrant blood vessel formation in the retina, reducing leakage and bleeding in the eye and maintaining vision. This makes anti-VEGF agents a crucial advancement in eye care and contribute to the growth of the market.
Ophthalmology Drugs Market, By Indication (2023)

Based on indication, the ophthalmology drugs market is classified into dry eye, glaucoma, infection/inflammation, retinal disorders, allergy, uveitis, myopia, ptosis, FECD, retinitis pigmentosa, and other indications. The retinal disorders segment led the market and accounted for USD 8.4 billion in 2023.

  • The increasing incidence of different retinal problems has led to an increase in demand for effective therapies to protect and improve eyesight. The aging population is contributing to the rise in retinal conditions like age-related macular degeneration (AMD).
  • Additionally, an increase in diabetes prevalence drives diabetic retinopathy cases. Advancements in anti-VEGF therapies and sustained-release drug delivery systems have improved treatment outcomes, further propelling the demand for drugs targeting retinal disorders and bolstering the segment growth.

Based on route of administration, the ophthalmology drugs market is divided into topical, local ocular (intravitreal), and other routes of administrations. The topical segment held the greatest market and is anticipated to reach USD 28.5 billion by 2032.

  • The market includes medications that are available as topical therapies for a variety of eye ailments as topical drugs are convenient to use and can be self-administered by patients, reducing the need for injections or surgical interventions in many cases.
  • In addition, topical ophthalmic drugs target the specific site of action, such as the cornea, conjunctiva, or intraocular structures, allowing for localized drug delivery and minimizing systemic side effects.  Increasing incidence of ocular conditions like glaucoma, conjunctivitis, and dry eye syndrome drives demand for these easy-to-use treatments.

Based on product, the ophthalmology drugs market is categorized into prescription and OTC. Prescription drugs are expected to growth with a CAGR of 5% during the forecast period.

  • It is anticipated that this segment would continue to dominate the market during the forecast period. The increase in conditions like AMD and diabetic retinopathy is responsible for the prescription medicine market's growth.
  • Further, ophthalmic conditions often require specialized treatment plans tailored to the individual patient's diagnosis, severity of the disease, and medical history. Prescription drugs allow for personalized and targeted therapies to address specific eye conditions effectively.
  • Additionally, the growing aging population contributes to the increased need for prescription drugs to manage age-related eye diseases effectively.

Based on dosage form, the ophthalmology drugs market is divided into eye drop, capsules and tablets, gels, ointments, injectables, cream, and other dosage forms. The eye drops segment held the largest revenue share in 2023 and is expected to show similar trend during the analysis period. 

  • Eye drops allow for localized drug delivery to the ocular surface, targeting specific eye structures, such as the cornea, conjunctiva, or intraocular tissues, where the medication is needed. The expanding OTC availability of eye drops, and the prevalence of eye diseases all influence the eye drop segment market progress.
  • In addition, it is predicted that new product introductions with altered formulations would meet market demand. For instance, Alcon announced the release of their innovative systane complete preservative-free, lubricant eye drop in January 2022.

Based on distribution channel, global ophthalmology drugs market is divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a notable market size of USD 18 billion in 2023.

  • This dominance is attributed to the crucial role that hospital pharmacies play in the distribution and dispensing of specialized medications for eye-related conditions. Ophthalmology drugs often require precise handling, storage, and administration, and hospital pharmacies are well-equipped to meet these stringent requirements.
  • Further, high patient footfall in hospitals ensures a consistent demand for ophthalmology drugs, driving the prominence of hospital pharmacies market segment.
North America Ophthalmology Drugs Market, 2020 - 2032 (USD Billion)

The North America ophthalmology drugs market is expected to grow at 4.8% during the analysis period.

  • The region has a significant prevalence of ophthalmic conditions, including age-related macular degeneration (AMD), diabetic retinopathy, glaucoma, and dry eye syndrome. The aging population, changing lifestyle, and the increasing prevalence of chronic diseases like diabetes contribute to the high incidence of these conditions. The need for effective treatments drives the demand for ophthalmology drugs in the region.
  • Moreover, North America is a hub for technological advancements and research in the field of ophthalmology. The region has a well-established pharmaceutical industry, academic institutions, and research organizations focused on developing innovative ophthalmology drugs. Advancements such as gene therapies, sustained-release drug delivery systems, and personalized medicine are further expected to drive the growth of the market.

Ophthalmology Drugs Market Share

The industry leaders operating in this market have established themselves through, continuous research & development, and a strong market presence. Alcon Vision LLC, Bausch Health Companies, Inc., and Bayer AG, account significant market share. These prominent players thrive through a combination of strategic approaches, diverse product portfolio, research and development initiatives, market understanding, and regulatory compliance.

Ophthalmology Drugs Market Companies

Market players operating in the ophthalmology drugs is as mentioned below:

  • AbbVie, Inc.
  • Alcon Vision LLC
  • Bausch Health Companies, Inc.
  • Bayer AG
  • Coherus BioSciences
  • F. Hoffmann-La Roche Ltd.
  • Novartis AG
  • Pfizer, Inc.
  • Regeneron Pharmaceuticals, Inc.
  • Santen, Inc.
  • Sun Pharmaceutical Industries Ltd.
  • Teva Pharmaceutical Industries Ltd.

Ophthalmology Drugs Industry News:

  • In April 2022, Sandoz, a Novartis company, introduced its generic combination eyedrop brimonidine tartrate/timolol maleate ophthalmic solution 0.2%/0.5%, it has AB-rated generic equivalent to AbbVie’s COMBIGAN, to reduce eye pressure in patients with ocular hypertension (high eye pressure) in the USA.
  • In January 2022, Akorn, Inc. entered into an agreement to sell seven branded ophthalmic products to Théa. Théa is Europe's foremost independent pharmaceutical firm in ophthalmology. The latter increased its commercial presence in the U.S. as part of the acquisition, and supported the projected growth and launches of more products in the U.S.

The ophthalmology drugs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Therapeutic Class, 2018 – 2032 (USD Million)

  • Anti-VEGF agents
  • Anti-glaucoma drugs
    • Alpha agonist
    • Beta blockers
    • Prostaglandin analogs
    • Combined medication
    • Other anti-glaucoma drugs 
  • Anti-inflammatory drugs
    • Steroids
    • NSAIDs
  • Anti-infective drugs
    • Anti-bacterial drugs
    • Anti-fungal drugs
    • Other anti-infective drugs
  • Anti-allergy drugs
  • Other therapeutic categories

By Indication, 2018 – 2032 (USD Million)

  • Dry eye
  • Glaucoma
  • Infection/inflammation
  • Retinal disorder
    • Wet AMD
    • Dry AMD
    • Diabetic retinopathy
    • Other retinal disorders 
  • Allergy
  • Uveitis
  • Myopia
  • Ptosis
  • FECD
  • Retinitis pigmentosa
  • Other indications

By Route of Administration, 2018 – 2032 (USD Million)

  • Topical
  • Local ocular (intravitreal)
  • Other routes of administration

By Product, 2018-2032 (USD Million)

  • Prescription
  • OTC

By Dosage Form, 2018-2032 (USD Million)

  • Eye drop
  • Capsules and tablets
  • Gels
  • Ointments
  • Injectables
  • Cream
  • Other dosage forms

By Distribution Channel, 2018-2032 (USD Million)

  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle East & Africa


Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Ophthalmology drugs industry was worth USD 31 billion in 2023 and is set to exhibit robust 5.1% CAGR from 2024 to 2032 attributed to the rising incidence of eye-related ailments along with increased R&D initiatives.

Prescription segment is poised to witness 5% CAGR between 2024 and 2032 owing to their increasing adoption due to the rise in conditions like AMD and diabetic retinopathy.

North America ophthalmology drugs market is set to expand at 4.8% CAGR from 2024-2032 driven by the significant prevalence of ophthalmic conditions in the region.

Some of the leading ophthalmology drug companies are AbbVie, Inc., Alcon Vision LLC, Bausch Health Companies, Inc., Bayer AG, Coherus BioSciences, F. Hoffmann-La Roche Ltd., Novartis AG, Pfizer, Inc., Regeneron Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd., and Teva Pharmaceutical Industries Ltd.

Ophthalmology Drugs Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 684
  • Countries covered: 19
  • Pages: 350
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