World Ophthalmic Pharmaceutical Drugs Market to Reach $12.86 Billion by 2010, According to New Report by Global Industry Analysts
Driven by the aging world population, and commensurate advancements in ophthalmic drug delivery techniques, the world ophthalmic pharmaceutical drugs market is projected to reach $12.86 billion by the year 2010. Rapid drug development, and the resulting spurt in new drug availability, together with the age driven rise in ophthalmic disorders, and pollution-induced susceptibility to ocular allergies, are together expected to contribute towards the overall growth of the market. Innovative breakthroughs in transporter/receptor mediated, eye focused drug delivery, and developments made in the area of ocular bioadhesives, and penetration enhancers, will all help ensure the market's future growth and sustenance.
San Jose, California (PRWEB) April 24, 2008 -- Prevention of blindness has emerged into a top health priority among aging citizens in the developed countries. And increased healthcare spending in these countries is creating a strong demand for advanced ophthalmic therapeutic treatments. This in turn is leading to the rise in investments in ophthalmic drug research, and a parallel spurt in the commercial availability of innovative and promising ocular drugs. Ongoing research studies on developing pharmacologic IOP reducing drugs is expected to lead to the availability of powerful topical drugs with lesser side effects, and higher therapeutic efficacies, thereby overthrowing the present bottleneck of low patient compliance. Pharmacodiversity and newer classes of potent drugs together, are expected to encourage patient compliance, and improve patient outcomes. The market therefore is expected to get a much-awaited respite from the business, and economic repercussions of low patient compliance.
Developing countries in Asia-Pacific, and Latin America offer ample opportunities for future growth, given the widespread prevalence of ocular diseases in these countries. Malnutrition, higher incidence of HIV, contaminated water, and pollution, rank among the numerous factors responsible for aggravating ophthalmic diseases in developing countries. Shifting demographics additionally extend expanded market opportunities. Disease segments with a clear market potential, and which offer abundant opportunities for drug research initiatives, include Cataracts, Myopia, diabetic retinopathy, Dry AMD, and Neuroprotection in glaucoma, Back of Eye diseases and Dry eye, among others.
As stated by the recent report published by Global Industry Analysts, Inc., world market for ophthalmic pharmaceutical drugs is forecast to grow at a CAGR of 4.37% over the years 2011 through 2015. Anti-Allergy Drugs Market in Asia-Pacific is projected to reach $149.64 million by the year 2012, while drugs for Back of Eye Diseases in Latin America is projected to reach $219.01 million by the year 2015. Japanese back of the eye drugs market is forecast to grow at the fastest CAGR of 16.89% over the years 2011 through 2015.
Leading global and regional players operating in the industry include Akorn Inc, Alcon Eye Care Inc, Allergan Inc., Alimera Sciences Inc, Bausch & Lomb Inc, Genvec Inc, Glaxosmithkline Plc, Inspire Pharmaceuticals Inc, Ista Pharmaceuticals Inc, Merck & Co. Inc, Novartis Ophthalmics, Opko Health Inc, Otsuka Pharmaceutical Co. Ltd, Pfizer Inc, QLT Inc., Santen Pharmaceutical Co., Ophthotech Corporation, and Fougera, among others.
The report titled "Ophthalmic Pharmaceutical Drugs: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of ophthalmic drugs, delivery technologies, market drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key therapeutic areas. Ophthalmic therapeutic markets analyzed in the report include Glaucoma, Anti-allergy, Anti-infective, Dry Eye, Anti-inflammation, and Back of Eye. Latent demand patterns are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Spain, Asia-Pacific, and Latin America, among others. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit
http://www.strategyr.com/Opthalmic_Pharmaceutical_Drugs_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press@StrategyR.com
Web Site www.StrategyR.com
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