Global Ophthalmic Steroids Drugs Market is segmented By Disease (Retinal Disorders, Eye Allergy, Uveitis, Others), By Dosage Form (Eye Drops, Eye Solutions, Ointments), By Distribution Channel (Hospital pharmacies, Online pharmacies, Clinics), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
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Ophthalmic Steroids Drugs Market Overview
The Ophthalmic Steroids Drugs Market is estimated to reach at a high CAGR during the forecast period (2023-2030).
Ophthalmic corticosteroids (cortisone-like medicines) are drugs which are used to prevent permanent damage to the eye that may occur with certain eye problems. They provide relief from redness, irritation, and other discomforts of the eye.
Ophthalmic Steroids Drugs Market Scope
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Metrics |
Details |
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Market CAGR |
High |
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Segments Covered |
By Disease, By Dosage Form, By Distribution Channel, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Ophthalmic Steroids Drugs Market Dynamics
An increase in the prevalence of intraocular disorders and increased incidence of diabetes mellitus leading to diabetes retinopathy will increase the Ophthalmic Steroids Drugs Market
An increase in the prevalence of intraocular disorders will drive the ophthalmic steroids drugs market in the forecast period
Glaucoma is an eye disease which is associated with elevated intraocular pressure, in which damage to the eye nerve can lead to loss of vision and even blindness. It is the leading cause of irreversible blindness in the world which usually shows no symptoms early in its course. Glaucoma can only be diagnosed by regular eye check-ups. Intraocular pressure increases in the eye when either too much fluid is produced or the drainage or outflow channels of the eye become blocked. Steroids are used widely in ophthalmology to suppress inflammation, reduce symptoms and minimize scarring. They are prescribed as drops, creams, ointments and rarely tablets. They are also injected into and around the eye, most recently as depot preparations. Injected depot intraocular steroids have been reported to have a 63% incidence of adverse effects. Ocular side effects include cataracts, raised intraocular pressure, and suppression of the immune response make infection more likely and delay wound healing.
Glaucoma poses a significant public health concern as it is the second leading cause of blindness after cataracts, and this blindness is usually irreversible. It is estimated that 57.5 million people worldwide are affected by primary open-angle glaucoma (POAG).
An increase in the incidence of diabetes mellitus leading to diabetic retinopathy will drive the ophthalmic steroids drugs market
Diabetes mellitus, also called diabetes, is a term for several conditions involving how body turns food into energy. When a perosn eats a carbohydrate, the body turns it into a sugar called glucose and sends that to the bloodstream. Diabetic retinopathy is one of the diabetes complication that affects the eyes. It is caused by the damage to the blood vessels of the light-sensitive tissue at the back of the eye (retina). At first, diabetic retinopathy might cause no symptoms or only mild vision problems.
The global diabetes prevalence in 2019 is estimated to be 9.3% (463 million people), rising to 10.2% (578 million) by 2030 and 10.9% (700 million) by 2045. The prevalence is higher in urban (10.8%) than rural (7.2%) areas and in high-income (10.4%) than low-income countries (4.0%). There are around 93 million people with DR, 17 million with proliferative DR, 21 million with diabetic macular edema, and 28 million with VTDR worldwide.
Side effects associated with ophthalmic steroids drugs will hamper the market
There are four important ocular side effects of corticosteroids: steroid-induced glaucoma, cataract formation, delayed wound healing, and increased susceptibility to infection. Children of less than two years of age may be susceptible to the effects of ophthalmic corticosteroids which may increase the chance of side effects. If this medicine has been ordered for a young child, it should be discussed with the doctor.
Pred Forte (prednisolone acetate ophthalmic suspension) is a steroid which is used to treat eye swelling caused by infection, allergy, injury, surgery or other conditions. Pred Forte is available in generic form. Side effects of Pred Forte are uncommon and may include itching,irritation stinging,burning of the eyes for 1 to 2 minutes ,temporary cloudy vision, increased sensitivity to light, visual disturbance (blurry vision), irritation in the eye, and allergic reactions when the medication is applied.
COVID-19 Impact Analysis Ophthalmic Steroids Drugs Market
COVID-19 had a negative impact on the Ophthalmic Steroids Drugs Market With the demand for COVID-19 vaccines, the demand for ophthalmic steroids drugs has decreased its manufacturing. But with the government lifting the bans and industries opening up their manufacturing units, the ophthalmic steroids drugs market will increase.
Ophthalmic Steroids Drugs Market Segment Analysis
The retinal Disorders segment dominated the ophthalmic steroids drugs market
A new compound, developed by Sylentis a biotechnology company penetrates into the retina to treat age-related macular degeneration and diabetic retinopathy with the administration of ophthalmic drops. Regeneron Pharmaceuticals announced that the FDA had approved EYLEA (aflibercept) to treat all stages of diabetic retinopathy. In the U.S. it is estimated that eight million people have diabetic retinopathy, and is one of the cause of blindness among working-age adults. The approval was based on the PANORAMA trial results, a one-year phase 3 trial involving 402 patients at varying stages of diabetic retinopathy. The results were impressive — 80% of patients receiving EYLEA every eight weeks showed significant signs of improvement, compared to just 15% in the control group.
Beovu®, a treatment for wet age-related macular degeneration (AMD) newly approved by the US Food and Drug Administration (FDA), often provides similar vision benefits to Eylea® when administered every three months. Eylea is frequently administered every two months. Hence, with increased drug approvals for retinal disorders, this segment will dominate the market.
Eye drops segment dominated the market
Prednisolone eye drops are used to treat short-term inflammatory eye conditions which are usually prescribed by an eye specialist. They contain a corticosteroid which helps to relieve inflammation, redness, and irritation. Eye drops are used to soothe various eye problems. Purposes range from giving moisture to the eyes to correcting glaucoma or pink eye. There are several other reasons for using eye drops as medicines.
FDA approves topical corticosteroids for the treatment of dry eye disease. The FDA has approved loteprednol etabonate ophthalmic suspension 0.25% for short-term treatment of the signs and symptoms of dry eye disease. The FDA has approved loteprednol etabonate ophthalmic suspension 0.25% (Eysuvis, Kala Pharmaceuticals Inc.)
The hospital pharmacies segment will dominate the ophthalmic steroids drugs market
Prednisolone is a steroid medicine used to relieve the redness, itching, and swelling caused by eye infections and other conditions. Prednisolone 0.12% and 1% are available only with a doctor's prescription—availability of trained doctors at hospitals and easily accessible pharmacy. To avoid self-medication and misuse of drugs, a hospital pharmacy is best where a patient can visit the doctor and purchase the medication.
Ophthalmic Steroids Drugs Market Geographical Share
North America region will dominate the ophthalmic steroids drugs market
The presence of high healthcare infrastructure, high consumer awareness, and increased incidence of intraocular disorders will drive the market in this region.
Due to an overall aging population, the number of people with visual impairment and blindness is increasing. While initiatives like Healthy People 2020 Vision aim to improve visual health by reducing visual impairment and blindness in the United States. In United States by 2050, an estimated 7.32 million people will have POAG, with the highest number among populations aged 70 to 79 years (32%), women (50%), and Hispanics (50%). The largest demographic group is Hispanic men. The CDC estimates that 4.1 million Americans are affected with diabetic retinopathy, and nearly 900,000 Americans are threatened with vision-damaging retinopathy.
Alcon, the global leader in eye care announced Pataday Once Daily Relief Extra Strength(olopatadine hydrochloride ophthalmic solution 0.7%), formerly prescribed as Pazeo®, has been approved by the Food and Drug Administration (FDA) for sale over-the-counter (OTC) in the United States.
Ophthalmic Steroids Drugs Market Companies and Competitive Landscape
Major key players in the ophthalmic steroids drugs market are Bausch & Lomb Inc., Alimera Sciences, Allergan, Inc., Novartis AG, GlaxoSmithKline plc, Genentech, Inc., Pfizer Inc., Bayer AG, Regeneron Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc. Shanghai Pharmaceutical Group Co., Ltd., China Resources Pharmaceutical GroupCo., Ltd. and Guangzhou Baiyunshan Pharmaceutical Group Co., Ltd.
Ophthalmic Steroids Drugs MarketKey Companies to Watch
Novartis AG
Overview: As a leading global medicines company, Novartis is reimagining medicine to improve and extend people's lives. Novartis uses digital technologies and innovative science to create transformative treatments in areas of great medical need. In their quest to find new medicines, they consistently top among the world's best companies investing in research and development. Their products reach nearly 1 billion people globally, and are finding innovative ways to expand access to the latest treatments. Around 125 000 people of more than 140 nationalities work at Novartis across the world.
Product Portfolio: The company focuses on Research, Innovation, Quality, Sustainability, innovative medicines, generic medicines, and biosimilars, a global leader in eye care, unique portfolio focuses & broad healthcare portfolio, Cell & Gene Therapy, and Data & Digital.
Key Development: On June 11, 2020, Novartis announced that the US Food and Drug Administration (FDA) had approved a label update for Beovu® (brolucizumab) to include additional safety information regarding retinal vasculitis and retinal vascular occlusion.
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