Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 38.13 Billion | USD 60.31 Billion | 5.9% | 2021 |
FrequentlyAsked Questions
Growing prevalence of eye-related disorders is fueling the market growth. Further, the growing geriatric population is exacerbating the prevalence of ocular disorders, with uncorrected refractive errors and cataracts being the leading causes of visual impairment. The majority of persons with visual problems are above the age of 50. All such factors are fostering market growth.
According to the Zion Market Research report, the global ophthalmic drugs market was worth about 38.13 (USD billion) in 2021 and is predicted to grow to around 60.31 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 5.9 percent.
North America is predicted to dominate the global ophthalmic drugs market during the forecast period, accounting for major revenue, owing to the high consumer awareness and availability of superior healthcare infrastructure and availability of superior healthcare infrastructure. Furthermore, the presence of prominent competitors in this region, such as Alcon and Pfizer, Inc., is projected to boost the market growth.
Some of the key players operating in the global ophthalmic drugs market include NOVARTIS AG, F. HOFFMANN-LA ROCHE LTD, BAUSCH & LOMB INCORPORATED, Alcon, Inc., ABBVIE Inc., TEVA PHARMACEUTICAL INDUSTRIES LTD., SUN PHARMACEUTICAL INDUSTRIES LIMITED, SANTEN PHARMACEUTICAL CO., LTD, REGENERON PHARMACEUTICALS INC., and PFIZER INC.
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