The ophthalmic injectable market size is projected to be worth USD 18.8 Billion in 2023. The market is likely to surpass USD 30.2 Billion by 2033 at a CAGR of 4.9% during the forecast period. The increasing frequency of aberrant blood vessel growth or blood vessel hemorrhage in an effort to support market expansion.
Numerous retinal disorders, such as wet age-related macular degeneration (AMD) and diabetic retinopathy, are linked to abnormal blood vessels. Repeated injections are frequently necessary, particularly for long-lasting diseases like AMD and diabetic retinopathy. So promoting market expansion.
The worldwide ophthalmic injectables market is being driven by an increase in the prevalence of eye ailments and diseases. The increased prevalence of eye disorders such as glaucoma, cataracts, macular degeneration, and diabetic retinopathy has resulted in a greater demand for effective ophthalmic injectables to control and treat these conditions.
Other Drivers Propelling the Demand for Ophthalmic Injectable include:
Challenges for Companies /Manufacturers in the Ophthalmic Injectable Market:
Opportunities in the Ophthalmic Injectable Industry:
Latest Trends in the Ophthalmic Injectable Market:
| Attributes | Details |
|---|---|
| Ophthalmic Injectable Market Size (2023) | USD 18.8 Billion |
| Ophthalmic Injectable Market Projected Size (2033) | USD 30.2 Billion |
| Value CAGR (2023 to 2033) | 4.9% |
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From 2017 to 2022, the global ophthalmic injectable market experienced a CAGR of 4.8%, reaching a market size of USD 18.8 billion in 2023.
From 2017 to 2022, the global ophthalmic injectable industry witnessed steady growth due to the shift towards minimally invasive treatments. The landscape of treatment for numerous eye disorders has been completely transformed by the development of novel ocular injectables such anti-vascular endothelial growth factor (anti-VEGF) medicines and corticosteroids. These innovations have improved treatment outcomes and patient satisfaction, leading to increasing usage and market development.
In ophthalmology, there has been a paradigm shift towards minimally invasive treatments. Ophthalmic injectables provide targeted and localized drug delivery to the eye, making them a less invasive alternative to surgical interventions. The inclination for minimally invasive procedures has contributed to the increased demand for ophthalmic injectables.
Future Forecast for Ophthalmic Injectable Industry:
Looking ahead, the global ophthalmic injectable industry is expected to rise at a CAGR of 4.9% from 2023 to 2033. During the forecast period, the market size is expected to reach USD 30.2 billion in 2033.
Future developments in drug delivery methods offer hope for ophthalmic injectables. The duration and effectiveness of treatment can be increased with the development of sustained-release implants, micro/nano-particles, and intelligent delivery systems. These developments might result in the release of novel injectables with improved therapeutic profiles, spurring market expansion.
Personalised medicine is the way of the future of healthcare, and ophthalmology is no exception. The creation of personalised ophthalmic injectables catered to the needs of specific individuals may be facilitated by improvements in genetic screening and biomarker identification. This individualized strategy may improve treatment results and spur market expansion.
| Country | The United States |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 11.9 billion |
| CAGR % 2023 to End of Forecast (2033) | 4.7% |
The ophthalmic injectable industry in the United States is expected to reach a market value of USD 11.9 billion by 2033, expanding at a CAGR of 4.7%. The ophthalmic injectable market in the United States is expected to grow as the country's mental health awareness grows. Age-related macular degeneration is becoming more and more prevalent across the nation.
Age-related macular degeneration (AMD) affected 19.8 million (12.6%) Americans aged 40 and over in 2019, according to the Centers for Disease Control and Prevention. It's probable that injectable therapies for macular degeneration will be even more successful and require less frequent administration. Thus, the market is growing as ophthalmic injectables are being used for therapeutic purposes.
| Country | The United Kingdom |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 800.0 million |
| CAGR % 2023 to End of Forecast (2033) | 4.4% |
The ophthalmic injectable industry in the United Kingdom is expected to reach a market value of USD 800.0 million by 2033, expanding at a CAGR of 4.4% during the forecast period. The market in the United Kingdom is expected to grow due to the increased preference for minimally invasive treatment options of eye diseases.
Compared to conventional surgical treatments, ophthalmic injectables are frequently thought of as being minimally invasive. Due to their convenience, shorter recovery times, and decreased risk of problems, these non-surgical therapy methods are preferred by many patients. The rising demand for ophthalmic injectables has been influenced by this tendency for least invasive procedures.
| Country | China |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 1.7 billion |
| CAGR % 2023 to End of Forecast (2033) | 5.4% |
The ophthalmic injectable industry in China is anticipated to reach a market value of USD 1.7 billion by 2033, moving at a CAGR of 5.4% during the forecast period. The ophthalmic injectable industry in China is expected to grow prominently due to the prevalence of diabetic retinopathy.
A main factor in diabetes vision loss and blindness is diabetic retinopathy (DR). Injectable treatments for diabetic retinopathy are likely to be considerably more effective and demand less frequent administration. As a result of the increased usage of ophthalmic injectables for therapeutic purposes, the market is expanding.
| Country | Japan |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 755.0 million |
| CAGR % 2023 to End of Forecast (2033) | 4.2% |
The ophthalmic injectable industry in Japan is estimated to reach a market value of USD 755.0 million by 2033, thriving at a CAGR of 10.9%. Due to the development in the ophthalmic healthcare, the Japanese market is expected to increase. In Japan, the regulatory landscape for digital therapies is changing.
Significant progress has been made in ophthalmic injectables and associated technologies. Newer medications with higher efficacy and safety characteristics have been released, appealing patients as well as healthcare professionals. The availability of new therapeutic alternatives has boosted demand for these injectables.
| Country | South Korea |
|---|---|
| Market Size (USD billion) by End of Forecast Period (2033) | USD 395.0 million |
| CAGR % 2023 to End of Forecast (2033) | 4.1% |
The ophthalmic injectable industry in South Korea is expected to reach a market value of USD 395.0 million by 2033, expanding at a CAGR of 4.1% during the forecast period. The market in South Korea is expected to develop as people become more aware of the importance of mental health.
The general public is becoming more aware of eye health and the significance of frequent eye exams. Improved diagnostic equipment and procedures enable earlier diagnosis of eye problems, increasing demand for ophthalmic injectables as a therapy option.
Principal Consultant
The anti-VEGF dominated the ophthalmic injectable industry with a market of 37.6% in 2022. This segment captures a significant market share in 2023 due to its ease of use.
A patient may benefit from in-person psychotherapy sessions enhanced with digital tools or platforms in a combination therapy approach. This could involve using smartphone apps for self-monitoring and self-help tools, joining online support groups, or participating in virtual reality-based exposure therapy.
Macular degeneration dominated the ophthalmic injectable industry with a share of 31.8% in 2022. Due to the rising prevalence of macular degeneration. Macular degeneration is becoming more common over the world, which is causing the market to expand.
WHO estimates that there were about 8 million cases of age-related macular degeneration in 2022. For improved therapeutic results, injectable medications are used in the majority of macular degeneration therapies.
The hospital pharmacies dominated the ophthalmic injectable industry with a share of 31.8% in 2022. This segment captures a significant market share in 2023 due to the demand for accessible and convenience.
Hospital pharmacy may contribute significantly to the patient care team by reviewing medications and educating patients about various eye conditions in clinic settings. As a result, hospital pharmacists are essential to eye treatment.
The ophthalmic injectable industry is highly competitive. Numerous players are looking out to hold on to market share globally. Key players are thus, trying to adopt new and effective strategies to stay ahead of the competition.
Key Strategies Adopted by the Players
Companies make significant investments in research and development to bring new goods to market that offer improved efficiency, dependability, and cost-effectiveness. Companies may set themselves apart from rivals and adapt to clients' changing requirements thanks to product innovation.
Strategic partnerships and collaborations between leading organisations in the sector are frequently formed to take advantage of one another's advantages and broaden their market reach. These partnerships can provide businesses access to emerging markets and technology.
The market for ophthalmic injectables is expanding significantly in developing nations like China and India. Important firms are creating local production facilities and bolstering their distribution networks in an effort to increase their market share.
In order to strengthen their market positions, increase the scope of their product offerings, and gain access to new markets, major companies in the ophthalmic injectable market frequently participate in mergers and acquisitions.
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Key Developments in the Ophthalmic Injectable Market:
The market is slated to attain USD 18.8 billion in 2023.
The market is expected to expand at a CAGR of 4.9% through 2033.
Development of cutting-edge ophthalmic injectables is influencing the product’s sales.
The Japan market is expected to expand at a CAGR of 4.2% through 2033.
Anti-VEGF is extensively used in the market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Global Market Demand (in Value or Size in USD Million) Analysis 2017 to 2022 and Forecast, 2023 to 2033 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Drug Class 7.1. Anti-VEGF 7.2. Corticosteriods 7.3. Antibiotics 7.4. Antivirals 7.5. Antifungals 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Indication 8.1. Macular Degeneration 8.2. Diabetic Retinopathy 8.3. Retinal Vein Occlusion 8.4. Endophthalmitis 8.5. Others 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Distribution Channel 9.1. Hospital Pharmacies 9.2. Retail Pharmacies 9.3. Drug Stores 9.4. Mail Order Pharmacies 9.5. Others 10. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia 10.6. Oceania 10.7. Middle East and Africa (MEA) 11. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 12. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033 13. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033 14. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 15. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033 16. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033 17. Middle East and Africa (MEA) Market Analysis 2017 to 2022 and Forecast 2023 to 2033 18. Market Structure Analysis 19. Competition Analysis 19.1. F. Hoffmann-La Roche Ltd 19.2. Regeneron Pharmaceuticals, Inc. 19.3. Valeant Pharmaceuticals International, Inc. 19.4. Novartis AG 19.5. Allergan 19.6. Alimera Sciences 19.7. ThromboGenics, Inc. 19.8. Bristol-Myers Squibb Company 19.9. Alcon Pharmaceuticals 19.10. Regeneron Pharmaceuticals 20. Assumptions and Acronyms Used 21. Research Methodology
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Ophthalmic Injectable Market
