Ophthalmic Drugs Market Size & Outlook, 2026-2034

Ophthalmic Drugs Market Overview

The global ophthalmic drugs market size is valued at USD 40.93 billion in 2025 and is anticipated to grow from USD 44.23 billion in 2026 till USD 84.64 billion by 2034, growing at a CAGR of 8.45% from 2026-2034. The global ophthalmic drugs market growth is attributed to the rising prevalence of age-related macular degeneration, diabetic retinopathy, and glaucoma, which are leading causes of vision impairment worldwide. Additionally, surge in R&D investments in biologics, gene therapies, and sustained-release drug delivery systems also supports market growth.

Key Market Trends & Insights

• North America held a dominant share of the global market, accounting for 43.07% share in 2025, owing to a strong R&D ecosystem and increasing approvals for biologics and gene therapies.
• The Asia Pacific region is growing at the fastest pace, with a CAGR of 10.11%, due to the rise in the burden of eye disorders and increase in government awareness programs for early eye disease management.
• Based on drug class, the anti-VEGF agents segment held the highest market share of 33.04%. This growth is attributed to the strong structural activity relationship of anti-VEGF for the treatment of various retinal diseases.
• On the basis of disease type, the glaucoma segment is expected to register the fastest CAGR growth of 9.83%. This growth is attributed to the high prevalence of glaucoma and the increased number of people undergoing treatment for glaucoma management.
• Based on dosage form, the eye drops segment dominated the market in 2025.
• S. dominates the ophthalmic drugs market, valued at USD 15.14 billion in 2024 and reaching USD 16.35 billion in 2025.

Market Size and Forecast

• 2025 Market Size: USD 40.93 billion
• 2034 Projected Market Size: USD 84.64 billion
• CAGR (2026-2034): 8.45%
• Dominating Region: North America
• Fastest-Growing Region: Asia-Pacific

Table: U.S. Ophthalmic Drugs Market Size (USD Million)

Source: Straits Research Analysis

Market Trends

Emergence of Gene and Cell-Based Therapies for Retinal Disorders

The global ophthalmic drugs market is shifting towards advanced gene and cell based therapies for previously untreatable retinal conditions.

• For instance, in March 2025, the U.S. FDA approved Encelto, an allogeneic encapsulated cell-based gene therapy for adults with idiopathic macular telangiectasia type 2.

This shift towards regenerative treatment is a key trend expanding therapeutic classes in ophthalmology.

Growing Approvals of Novel Ophthalmic Therapies for Presbyopia

Surge in approvals of new drugs to treat presbyopia, a prevalent age related condition, is a key trend for market growth.

• For instance, in July 2025, the U.S. FDA approved VIZZ an aceclidine ophthalmic solution, 1.44% for the treatment of presbyopia. This approval marks a significant advancement in addressing the near-vision loss associated with aging.

This development showcases a major trend in ophthalmology that focuses on innovative treatment approvals to enhance patients’ quality of life.

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Market Growth Factors

Increase in the Number of People Suffering from Various Eye Diseases

The rising incidence of eye diseases is a significant driver propelling the global ophthalmic drugs market. Conditions such as diabetic retinopathy, age-related macular degeneration (AMD), glaucoma, and dry eye disease are becoming highly prevalent.

• For instance, according to the 2025 World Health Organization (WHO), about 2.2 billion people have near or distance vision impairment every year.

This surge in eye related disorders is driving the need for advanced ophthalmic drugs, thereby contributing to market growth.

Increasing Product Launches of Novel Ophthalmic Solutions

The innovations in drug formulations are increasing patient compliance and expanding treatment options.

• For instance, the introduction of Alcon’s TRYPTYR in July 2025 in U.S. is a latest innovation for the treatment of dry eye disease. TRYPTYR is the first neuromodulator eye drop to rapidly increase natural tear production

Thus, launch of such novel formulations is expanding treatment options, which, in turn, boosts the market growth.

Market Restraint

High Cost of Advanced Biologic Therapies

High cost associated with biologic and novel ophthalmic drugs is impacting the widespread adoption and thereby restraining the market growth.

• For instance, in 2025, cost of gene therapy for retinal disorders such as Luxturna for inherited retinal dystrophy in the U.S. is approximately USD 850,000 per treatment.

These high costs limit accessibility and adoption of ophthalmic drugs.

Market Opportunity

Growing Adoption of Tele-Ophthalmology

The growing integration of telemedicine and digital health solutions in eye care is creating a significant opportunity for the ophthalmic drugs market.

• For instance, in March 2025, the American Academy of Ophthalmology (AAO) reported a 40% increase in tele-ophthalmology consultations across the U.S.

This expansion of digital and remote care services is improving patient access to treatment, thereby driving market growth.

Regional Analysis

North America dominated the ophthalmic drugs market in 2025, accounting for 43.07% market share. This dominance is attributed to strong adoption of advanced ophthalmic therapies, favorable reimbursement policies, an increase in screening programs, and active research and development initiatives by leading pharmaceutical companies such as AbbVie, Pfizer, Alcon, and others.

Asia Pacific Market Trends

Asis Pacific is emerging as a fastest-growing region with a CAGR of 10.11% from 2026-2034, owing to the rising prevalence of eye disorders, increasing geriatric population, growing healthcare expenditure, improving access to advanced ophthalmic treatments, and expanding awareness about eye care. Moreover, countries such as China and South Korea are actively developing domestic biologics, which also supports the market growth.

Source: Straits Analysis

Countries Analysis

U.s. Market Trends

The U.S. lead the global ophthalmic drugs market, primarily due to the FDA's approval of innovative treatments, rise in prevalence of eye diseases, and presence of supportive reimbursement policies.

• For instance, the approval of Encelto (revakinagene taroretcel-lwey), an allogeneic encapsulated cell-based gene therapy for adults with idiopathic macular telangiectasia type 2 (MacTel), a rare progressive eye disease. This approval, granted on March 5, 2025, underscores the FDA's commitment to advancing eye care through novel therapies.

Moreover, the presence of established market players and high per capita income also supports the growth of the ophthalmic drugs market in the U.S.

Germany Market Growth Factors

Germany ophthalmic drugs market growth is significantly driven by the nation's regulatory environment and rising prevalence of eye disorders. Additionally, ongoing research and collaborations between pharmaceutical companies and universities promote the development of novel ophthalmic therapies, further boosting market growth

• For instance, Boehringer Ingelheim International GmbH is actively collaborating with various research organizations to advance ophthalmic research.

Moreover, high medical expenditure and widespread access to novel therapies further support market growth.

China Market Trends

China's ophthalmic drugs market is experiencing significant growth, driven by an aging population and increasing prevalence of eye disorders such as cataracts and diabetic retinopathy. The government's emphasis on healthcare reform has improved access to eye care. Additionally, domestic pharmaceutical companies are expanding their research and development efforts, leading to the introduction of innovative ophthalmic treatments in the market. Thus, all aforementioned factors are collectively boosting the ophthalmic drugs market in China.

India Market Growth Factors

India's ophthalmic drugs market is experiencing significant growth, driven by government initiatives, increasing healthcare infrastructure, and rising awareness of eye health. For instance, the National Programme for Control of Blindness and Visual Impairment (NPCB&VI) has been instrumental in reducing the prevalence of avoidable blindness through screening and treatment programs. Additionally, the Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in 2021, is enhancing healthcare across the country, improving access to specialized eye treatments, which, in turn, drives the ophthalmic drugs market growth in India.

Australia Market Trends

Australia's ophthalmic drugs market is driven by the Therapeutic Goods Administration's (TGA) rigorous approval process, ensuring the safety and efficacy of treatments. For instance, in July 2025, the TGA approved Talvey, a novel treatment for age-related macular degeneration, reflecting the agency's commitment to advancing eye care. Further, the Pharmaceutical Benefits Scheme (PBS) subsidizes several ophthalmic medications, enhancing patient access to essential treatments. These initiatives are driving the adoption of ophthalmic drugs, which, in turn, support the market growth.

Market Segmentation

Drug Class Insights

The Anti-VEGF agents segment dominated the market and accounted for a 33.04% revenue share in 2025. This growth is attributed to effective inhibition of vascular endothelial growth factor (VEGF), reducing abnormal blood vessel growth and fluid leakage in the retina, leading to improved visual outcomes. Additionally, supportive healthcare coverage facilitates patient access to these therapies, which, in turn, drives the segment growth.

By Drug Class Market Share (%), 2025

Source: Straits Analysis

Disease Type Insights

The glaucoma segment is expected to register the fastest CAGR growth of 9.83%, owing to increasing prevalence of glaucoma worldwide, rising awareness of early diagnosis, and the growing adoption of advanced therapeutics such as prostaglandin analogs, beta-blockers, and combination therapies that effectively manage intraocular pressure and slow disease progression.

Dosage Form Insights

The eye drops segment dominated the market in 2025. This growth is attributed to their ease of administration, wide availability, and effectiveness in treating common ocular conditions such as dry eye, allergic conjunctivitis, and glaucoma. Additionally, ongoing innovations in formulation, including preservative-free and sustained-release drops, have enhanced patient compliance and therapeutic outcomes.

Competitive Landscape

The global ophthalmic drugs market is moderately fragmented, with leading pharmaceutical and biotechnology companies capturing a major market share. Established pharmaceutical companies maintain leadership through innovative therapies, extensive distribution networks, and strong R&D pipelines.

The major players in the market include Novartis AG, Regeneron Pharmaceuticals, Alcon, F. Hoffmann-La Roche Ltd., Santen Pharmaceutical Co., and Bausch + Lomb. The industry players are inclined towards competitive positions through product approvals, acquisition, product innovations, and strategic collaborations.

Oxurion N.v.: An Emerging Market Player

Oxurion N.V., a Belgium-based biopharmaceutical company, is emerging in the ophthalmic drugs market with a focus on novel treatments for retinal diseases. The company’s lead candidate, THR-149, is a plasma kallikrein inhibitor in late-stage clinical development for diabetic macular edema.

• In 2024, Oxurion reported positive Phase 2 trial results showing significant visual acuity improvement in patients.
• In 2025, the company initiated Phase 3 trials in the U.S. and Europe, reflecting regulatory confidence and potential market entry.

Through innovative therapies targeting unmet needs in retinal disorders, Oxurion is emerging as an innovative player in the market.

List of key players in Ophthalmic Drugs Market

1. Alcon
2. AbbVie Inc.
3. Bausch + Lomb
4. Novartis AG
5. Regeneron Pharmaceuticals
6. Hoffmann-La Roche / Genentech
7. Bayer AG
8. Pfizer Inc.
9. Merck & Co. Inc.
10. Johnson & Johnson
11. Santen Pharmaceutical Co., Ltd.
12. Amneal Pharmaceuticals Inc.
13. Otsuka Pharmaceutical
14. LENZ Therapeutics, Inc.
15. Apellis Pharmaceuticals

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Recent Developments

• 12^thJune 2025: Amneal Pharmaceuticals Inc. has received the U.S. FDA approval for prednisolone acetate ophthalmic suspension indicated for the treatment of steroid-responsive ocular inflammation.
• 28^thMay 2025:S. FDA has approved Alcon’s TRYPTYR, an acoltremon ophthalmic solution 0.003% for the treatment of dry eye disease.

Analyst Opinion

As per the analyst's opinion, the global ophthalmic drugs market is witnessing strong growth, fueled by the rising prevalence of eye disorders, an aging population, and growing awareness of vision health. The market is shifting from conventional treatment approaches to advanced biologics and gene therapies. Additionally, technological innovations, supportive government healthcare programs, and expanding insurance coverage are accelerating patient access and adoption of novel ophthalmic treatments.