Ophthalmic Corticosteroids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020–2030
Ophthalmic corticosteroids are used to prevent permanent damage to the eye, which may occur with certain eye problems. They also provide relief from inflammation, and other symptoms such as swelling, pain, redness, or irritation of the eyes. The rise in the prevalence of intraocular eye disorders such as diabetic retinopathy, dry eye syndrome and age-related macular degeneration (AMD) is one of the major factors that contributed to the ophthalmic corticosteroid market growth. It is expected to hold its position throughout forecast period owing to rising prevalence of eye diseases across the globe, especially in the elder population.
The COVID-19 outbreak is believed to have a major impact on the global ophthalmic corticosteroid Market. The COVID-19 pandemic has brought on many features, like declining business assurance, unpredictability about the future, huge brake in the supply chain, and others. Manufacturing industries are being shuttered around the world due to the global restrictions causing an unusual technology and business model transformation. Also, due to interference in the supply chain, there has been a significant shortage in the supply of ophthalmic corticosteroid across the globe.
Ophthalmic corticosteroid market: Drivers and Restraints-
The rise in prevalence of glaucoma and occurrence of eye disease especially in the elder population is major factor fuels the growth of ophthalmic corticosteroid market. The rise in prevalence of diabetes mellitus may cause diabetic retinopathy, which is another factor responsible for the growth of ophthalmic corticosteroid market.
However, some factors can restrain the growth of the global ophthalmic corticosteroid market such as certain adverse effects associated with corticosteroids such as stinging, burning sensation, blurred vision, glaucoma, and cataracts.
Ophthalmic corticosteroid market Segmentation:
Based on the disease type, the global ophthalmic corticosteroid market can be segmented as:
Based on the dosage form, the global ophthalmic corticosteroid market can be segmented as:
Based on the distribution channels, the global ophthalmic corticosteroid market can be segmented as:
Ophthalmic corticosteroid market: Overview
Ophthalmic corticosteroid market segmented on the basis of disease conditions into allergic conjunctivitis, retinal disorder, inflammatory condition or post-operative inflammation, keratitis, glaucoma, uveitis and others. The retinal disorder segment is dominating the ophthalmic corticosteroid market due to the rise in prevalence of age-related macular degeneration in the year 2016. According to the American Academy of Ophthalmology chances of occurrence for age-related macular degeneration rises with age, which is expected to hold market for next few years. Liquid ophthalmic dosage forms such as Eye drops have the highest share in the ophthalmic corticosteroid market due to ease of application. Based on the distribution channel, the ophthalmic corticosteroid market is segmented into hospital pharmacies, retail pharmacies, online sales, research institutes, clinics and others. The hospital pharmacies are expected to be the dominating among all due to rise in prevalence of ophthalmic diseases and increasing population across the globe.
Ophthalmic corticosteroid market: Region-wise Outlook
North America dominates share of the global ophthalmic corticosteroid market, due to surging in the prevalence of intraocular eye disorders like diabetic retinopathy, dry eye syndrome and age-related macular degeneration disease etc. North America is expected to expand promptly during the forecast period due to the rise in awareness about the prevention of eye diseases, speedily developing healthcare system, and an increase in acquiring the technology. Europe and Asia pacific also showed significant growth in the ophthalmic corticosteroid market due to the increase in the prevalence of viral and non-viral eye infections, and the availability of better ophthalmological treatment in this region.
Ophthalmic corticosteroid market: Key Market Players.
Key players involved in the global ophthalmic corticosteroid market are Alcon Eye Care, Regeneron Pharmaceuticals, Allergan, Inc. Alimera Sciences, Bayer AG, Bausch & Lomb Inc., Genentech, GlaxoSmithKline, Ophthalmics, Novartis AG, Pfizer, Opko Health, Inc., Otsuka Pharmaceutical Co., Ltd., Santen Inc, Inc. Valeant Pharmaceuticals International and Others.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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