Market Scenario
The global ophthalmic suspension market is expected to exhibit a strong 6.8% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The report profiles the leading players in the global ophthalmic suspension market to provide readers with a clear picture of the major drivers and restraints affecting the market growth over the forecast period. The global ophthalmic suspension market is also analyzed with respect to its segmentation in order to pinpoint the leading segments likely to drive the market’s progress over the coming years.
The suspension in the form of used to treat eye infections and related symptoms are generally termed as ophthalmic suspension. Generally it used in a combination of two such as antibiotics and a corticosteroid for more effective treatment. Various bacterial eye infections such as conjunctivitis are treated by ophthalmic suspension.
Increasing prevalence of eye diseases across the globe is one of the major factors contributing to the growth of this ophthalmic suspension market size. Moreover, increasing geriatric population which are most prone to eye disorders, and growing number of bacterial infections cases in children will also boost the growth of the market. Furthermore, according to WHO (2014), glaucoma is the second major cause of blindness in the world which will increase the market growth.
On the other hand, the side-effects of ophthalmic suspension may hamper the market growth during the corresponding period.
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Key Players
- Novartis AG (Alcon)
- ALLERGAN
- Pfizer Inc.
- Merck & Co., Inc.
- Bausch & Lomb Incorporated
- Falcon Group
- Valeant
- Bayer AG
- Genentech, Inc.
Segmentation
The global ophthalmic suspension market is segmented on the basis of type of content, which is segmented into antibiotic, antifungal, antibacterial, steroids, NSAIDs (non-steroidal anti-inflammatory drugs) and others.
On the basis of applications, it is segmented into bacterial infections, retinal disorders, glaucoma, allergies, diabetic eye disease, and others. Bacterial infection is further conjunctivitis, scleritis, and others. Retinal disorder is further segmented into macular degeneration, branch retinal vein occlusion, central retinal vein occlusion, congenital x-linked retinoschisis, and others.
On the basis of end user, the market is segmented into hospitals, eye clinics, pharmacies, and others.
Regional Analysis
The American region accounted for the largest share of the global ophthalmic suspension market due to increasing prevalence of eye related diseases and increasing demand for new ophthalmic suspension for its treatment. Moreover, increasing geriatric population is another major factor responsible for the market growth in American countries.
In Asia Pacific, increasing government support for research & development in healthcare domain, growing number of ophthalmic clinics, and increasing prevalence of eye related diseases drives the growth of the market in this region.
Europe is the second largest ophthalmic suspension market across the globe owing to increasing awareness regarding eye related diseases, growing technological advancements in healthcare domain and increasing investment in healthcare domain by government.
The Middle East & Africa is expected to show a least market share due to less availability of medical facilities, and less development in healthcare domain.
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