U.S. Ophthalmic Disease Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Class (Anti-inflammatory, Anti-infectives, Anti-VEGF, Anti-glaucoma {Beta Blockers, Prostaglandins Analogs, Alpha Adrenergic Agonists}), By Dosage Form (Solid, Liquid, and Semisolid), By Disease Indication (Glaucoma {Open Angle Glaucoma, Angle Closure Glaucoma}, Dry Eye Disease, Retinal Diseases {Diabetic Macular Edema, Macular Degeneration, Diabetic Retinopathy}, Allergy & Infections), By Distribution Channel (Hospital Pharmacies, Retail & Online Pharmacies), and Country Forecast, 2023-2030

The U.S. ophthalmic disease therapeutics market size was worth USD 13.42 billion in 2022 and is anticipated to grow at a CAGR of 6.5% during the forecast period.

Ophthalmic disease therapeutics include therapies and drugs dedicated to managing ophthalmic diseases, including retinal diseases, glaucoma, allergies, infections, dry eye disease, and others. Factors such as the rising prevalence of these diseases, rising approval and increasing commercialization of new products, introduction of new technologies, and others, are fueling U.S. market growth.

Moreover, other factors, including age and disease-induced ophthalmic conditions, further leads to the rapid progression of many ocular diseases, such as age-related macular degeneration, a disease of the retina, diabetic retinopathy, cataracts, ophthalmic zoster, and others.

The COVID-19 pandemic negatively impacted the U.S. market in 2020 due to the shifted focus of ophthalmologists in serving COVID-19 patients, along with postponement of non-essential treatment & procedures, and overall reduced access to healthcare facilities which led to a decline in demand for ophthalmic disease therapeutics.

U.S. Ophthalmic Disease Therapeutics Market Trends

Increasing Implementation of Patient-Centered Care and Advancements in Artificial Intelligence to Drive Market Growth

The increasing implementation of a patient-centred care approach to treat ophthalmic diseases is improving disease knowledge, awareness, and doctor-patient communications. The patient-centered approach includes personalized treatment plans, shared decision-making, patient education, enhanced patient satisfaction, and better therapy outcomes. Moreover, growing advancements in artificial intelligence tools for the diagnosis of ophthalmic diseases are contributing to the growing adoption of ophthalmic disease therapeutics.

• For instance, in July 2023, The Icahn School of Medicine at Mount Sinai launched the Center for Ophthalmic Artificial Intelligence and Human Health in New York, U.S. The center is dedicated to advancing artificial intelligence in the field of ophthalmology. The center has also collaborated with the Windreich Department of Artificial Intelligence and Human Health to advance clinical innovation in AI-based diagnostics care of ophthalmology.

U.S. Ophthalmic Disease Therapeutics Market Growth Factors

Rising Approvals and Introduction of Innovative Therapies and Products to Drive Market Growth

The increasing and diverse patient population is affected by ophthalmic diseases, such as glaucoma, macular degeneration, diabetic retinopathy, and others, contributing to the rising prevalence of these conditions. The severity of these conditions propels patients to seek effective treatment, leading to a growing treatment-seeking population. Owing to the growing demand, key players operating in the market are focusing on new drug development and approval of innovative products, contributing to market growth.

• For instance, in July 2023, Harrow announced the completion of the NDA transfer and commercial launch of Vigamox, a 0.5% moxifloxacin hydrochloride ophthalmic solution in the U.S. The drug was developed to treat bacterial conjunctivitis.


• In June 2023, Novaliq GmbH received U.S. FDA approval for Vevye, a 0.1% cyclosporine ophthalmic solution to treat dry eye disease.

RESTRAINING FACTORS

Rising Product Recalls to Limit Market Growth Owing to Financial Losses

The ophthalmic drug manufacturing process comprises multiple steps and phases and has a high chance of contamination. The majority of the ophthalmic dosage in liquid forms further increases the chances of contamination. The availability of such products in the market is leading to high health risks for patients, huge financial losses for the manufacturers, and damage to their reputations. Thus, rising product recalls are anticipated to limit the market growth during the forecast period.

• For instance, in March 2023, Pharmedica USA LLC announced the voluntary recall of two lots of Purely Soothing 15% MSM Drops. The drug belongs to the anti-inflammatory class and is used to treat ocular inflammation. The company recalled the drug due to non-sterility, which could impose the risk of eye infection and blindness.

U.S. Ophthalmic Disease Therapeutics Market Segmentation Analysis

By Drug Class Analysis

Based on drug class, the market is categorized into anti-infectives, anti-inflammatory, anti-glaucoma, anti-VEGF, and others. The anti-glaucoma segment is further divided into beta blockers, prostaglandins analogs, alpha adrenergic agonists, carbonic anhydrase inhibitors, combination drugs, and others.

The anti-inflammatory segment captured the largest U.S. ophthalmic disease therapeutics market share. The largest share of the segment is attributed to rising patient numbers undergoing treatment for ocular inflammation and allergies.

The anti-VEGF segment is anticipated to register a significant CAGR during the forecast period. The growth of the anti-VEGF segment is attributed to a rising number of product approvals and the rising use of these therapies in various indications.

• For instance, in August 2022, Coherus BioSciences, a U.S.-based biosimilar company, received U.S. Food and Drug Administration (FDA) approval for its CIMERLI, an anti-VEGF biologics, 0.3 mg and 0.5 mg dosages. These dosages are used to treat five indications, including diabetic retinopathy, macular edema, neovascular age-related macular degeneration, diabetic macular edema, and myopic choroidal neovascularization (mCNV).

By Dosage Form Analysis

By dosage form, the market is segmented into liquid, solid, and semisolid. 

The liquid segment held the largest share in 2022 and is anticipated to register notable growth during the forecast period. The factors attributed to a high share of the liquid segment are ease of administration, enhanced patient compliance, precise dosing, and rapid drug absorption with minimum tissue irritation. Also, many liquid ophthalmic disease therapeutics under clinical trial are resulting in better efficacy and effective treatment and are anticipated to contribute to the segment’s growth during the forecast period.

• For instance, in July 2023, OcuTerra Therapeutics, a U.S.-based ophthalmology company, developed a small molecule eye drop solution, OTT166, to treat Proliferative Diabetic Retinopathy. The drug is currently under Phase 2 trial to study efficacy, safety, and optimal dosing regimen.

By Disease Indication Analysis

The market based on disease indication segment is categorized into glaucoma, dry eye disease, allergy & infections, retinal diseases, and others.

The dry eye disease segment held the largest market share in 2022 and is anticipated to register significant growth during the forecast period. The increasing prevalence of dry eye disease along with other ophthalmic disorders in the U.S., the increasing focus of key players in the drug development for dry eye disease, such as zoster ophthalmicus treatment along with their growing focus on the emergence of new treatments for dry eye are the major factors propelling the segment's growth.

• For instance, according to the National Health and Wellness Survey data published in June 2023, around 6.8% of the adult U.S. population reported being diagnosed with dry eye disease. The survey further revealed that the prevalence increased with age and gender, and women were the major disease carriers.

By Distribution Channel Analysis

Based on distribution channel, the market is bifurcated into hospital pharmacies and retail & online pharmacies.          

The retail & online pharmacies segment held a larger share in 2022 and is anticipated to register notable growth during the forecast period. The growing orientation of patients toward online pharmacy due to convenience, flexibility, and availability is one of the major factors contributing to the segment's growth. Also, the increasing number of retail and community pharmacies in the U.S. further contributes to the segment’s growth.

• For instance, according to the data published by the National Council for Prescription Drug Programs in March 2021, the number of independent pharmacies in the U.S. increased by 449 between January 2020 and January 2021.

KEY INDUSTRY PLAYERS

The competitive landscape of the U.S. market includes key players, such as Regeneron Pharmaceuticals Inc., Santen Pharmaceutical Co. Ltd., Novartis AG, and AbbVie Inc. The growing R&D investment and increasing sales of these drugs due to the growing patient population are the major factors behind the high market share of these players.

• For instance, in 2022, Regeneron Pharmaceuticals Inc. invested around USD 81.2 million in R&D of EYLEA and aflibercept 8 mg. Also, the company's total research and development expenses increased by 25.6% in 2022 compared to 2021.

Moreover, other emerging companies in the U.S. ophthalmic disease therapeutics market are focusing on the development of novel therapies based on FDA ophthalmic guidance that will help them gain market share in the coming years.

List of Key Companies Profiled:

• Regeneron Pharmaceuticals Inc. (U.S.)


• AbbVie Inc. (U.S.)


• Genentech USA, Inc. (U.S.)


• Viatris Inc. (U.S.)


• Novartis AG (Switzerland)


• Bayer AG (Germany)


• F. Hoffmann-La Roche Ltd. (Switzerland)

KEY INDUSTRY DEVELOPMENTS:

• May 2023: Novaliq GmbH and Bausch + Lomb Corporation announced that the company received U.S. FDA approval for MIEBO, a perfluorohexyloctane ophthalmic solution. The drug is a persecution eye drop to treat dry eye disease that directly targets tear evaporation.


• November 2022: Viatris Inc. announced its intent to make two acquisitions, including Famy Life Sciences and Oyster Point Pharma. The acquisition is aimed at creating an ophthalmology franchise by implementing deep knowledge of the pipeline products of these companies, including Tyrvaya, a pipeline drug for the treatment of dry eyes.        


• April 2022: Apellis Pharmaceuticals, Inc. announced that the company received U.S. FDA approval for SYFOVRE, pegcetacoplan injection for treating geographic atrophy, a late stage of dry age-related macular degeneration.

REPORT COVERAGE

The market report provides a detailed analysis of the market. It focuses on key aspects, such as the prevalence of major ophthalmic diseases, key market trends, pipeline analysis, and patent snapshots. Additionally, it includes key industry developments, such as mergers, partnerships, & acquisitions and the impact of COVID-19 on the U.S. market. Besides this, the report also highlights key industry dynamics.

Report Scope & Segmentation