Pharmaceutical companies manufacturing ophthalmological drugs initially involve in drug discovery process by which new drug candidates are discovered. This process includes identification of candidates, synthesis, characterization, screening and assays for therapeutic efficacy. Once the lead drug candidates are developed, they undergo preclinical trials in animals and filing for investigational new drug applications (IND) to initiate the clinical trials on humans. Preclinical trials may be conducted in-house or through a Contract Research Organization (CRO) that provides outsourced support to pharmaceutical companies. When the drug successfully passes all three phases of clinical trials, the CROs submit all their findings to the parent pharmaceutical companies which file new drug applications (NDA) in order to release the drug into the market.
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The global ophthalmology drugs market has shown modest growth in the past years with a CAGR of over 6.7%. The year 2017 recorded highest ever growth in this market with a net value of $27.7 billion as per TBRC’s in-house consultants.
TBRC’s latest report shows the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the ophthalmology drugs market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Drug manufacturers are increasingly developing ophthalmic drugs with anti-inflammatory agents to ease patient treatment for dry eye syndrome. Anti-inflammatory drugs are widely used for the treatment of the inflammation produced by the disease with the topical corticosteroid drops being the most common therapy. Corticosteroids can rapidly and effectively relieve the symptoms and signs of moderate or severe dry eye. However, prolonged usage of corticosteroids has seen to produce side effects that include risk of bacterial or fungal infection, elevated intraocular pressure and cataract formation. As a consequence, NSAIDs are increasingly being used as dry eye treatment instead of steroids because of their non-severe side effects. For instance, Aciex Therapeutics, a US-based pharmaceutical company, is developing NSAIDs which decrease ocular discomfort.
TBRC’s latest report will cover in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Companies included in the report are Novartis AG, F. Hoffmann-La Roche Ltd., Allergan Plc., Valeant Pharmaceuticals Intl Inc., and Bayer AG.
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