Vision Disorders Market By Disease Type (Dry Eye, Eye Allergies, Glaucoma, Cataract, Pterygium, Retinopathy, Eye Infection, Retinal Disorders, Uveitis, & Others), By Product Type (OTC Drugs, & Prescription Drugs), By Drug Class (Anti-allergy, Anti-inflammatory, Anti-VEGF (Vascular Endothelial Growth Factor), Anti-glaucoma, Antibacterial, & Others), By Treatment Type (Drugs, Devices, Others) - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: HCR 0608 Report Format: PDF + Excel

Vision Disorders Market Overview

Vision Disorders Market Size is estimated to reach $47.4 billion by 2027. Furthermore, it is poised to grow at a CAGR of 7.1% over the forecast period of 2022-2027. Vision Disorders are defined as any impairment in the normal sense of vision. Myopia, hyperopia, astigmatism, presbyopia, conjunctivitis, cataract, corneal abrasion, entropion, and glaucoma are only a few of the vision diseases that impact the vast majority of the world's population. The majority of vision impairments are caused by poor nutrition, different diseases, severe eye injury, insertion of foreign objects, and advancing age. Despite tremendous advances in preventing and curing visual impairment in many countries over the last two decades, the World Health Organization (WHO) estimates that over 285 million people worldwide are still visually impaired in 2013. According to the WHO, simple eye examinations such as aberrant blinking frequency, pupil size, and eye color can heal 80 percent of visually impaired patients. Clinical and retinal examinations such as corneal topography, keratometry, pachymetry, fluorescein angiography, Indocyanine Green study (ICG) dye test, and other related studies can confirm the diseases. Ignorance and neglect, on the other hand, might result in serious eye issues or irreversible vision loss. In 2004, the Centers for Disease Control and Prevention (CDC) published research estimating that around 14 million Americans over the age of twelve were affected by various vision impairments, eyeglasses, and contact lenses are generally used in eyesight. Silicone hydrogel contact lenses are a type of advanced soft contact lens that allows more oxygen to pass through to the cornea than traditional soft ("hydrogel") contacts.

Vision disorders Market Report Coverage

The report: “Vision Disorders Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Vision Disorders Market.

By Disease Type- Dry Eye, Eye Allergies, Glaucoma, Cataract, Pterygium, Retinopathy, Eye Infection, Retinal Disorders, Uveitis, and Others.
By Product Type- OTC Drugs, and Prescription Drugs.
By Drug Class- Anti-allergy, Anti-inflammatory, Anti-VEGF (Vascular Endothelial Growth Factor), Anti-glaucoma, Antibacterial, and Others.
By Treatment Type- Drugs, Devices, Others.
By Geography- North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), and Rest of the World (the Middle East, and Africa).

Key Takeaways

  • Geographically, North America held a dominant market share in the year 2021 on account of increasing pharmaceutical industries. Asia-Pacific is expected to offer lucrative growth opportunities to the manufacturers owing to the increasing manufacturing of ophthalmic products in the pharmaceutical industries. The proliferation of ophthalmic products is predicted to augment the market growth during the forecast period of 2022-2027.
  • The growing number of ophthalmic pharmaceutical companies entering into strategic initiatives coupled with rising awareness regarding gene therapies are estimated to drive the market growth of the Vision Disorders Market. The growing number of patent expiry of blockbuster drugs poses threat to the Vision Disorders Market growth.
  • A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Vision Disorders Market Report.

Vision Disorders Market: Market Share (%) by region, 2021

Vision disorders Market

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Vision Disorders Market Segment Analysis – By Disease Type

Vision Disorders Market based on disease type can be further segmented into Dry Eye, Eye Allergies, Glaucoma, Cataract, Pterygium, Retinopathy, Eye Infection, Retinal Disorders, Uveitis, and Others. The Cataract segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 8.1% over the forecast period of 2022-2027. The increasing prevalence of cataracts is consequently increasing the Eye disorders Market. According to WHO, in 2019, In underdeveloped countries, the occurrence of cataracts similarly rises with age, though it begins sooner in life and is more common. Visually significant cataracts, for example, occurred 14 years earlier in an Indian study than in a comparable study in the United States. The age-adjusted prevalence of cataracts in India was three times that of the United States, with 82 percent of Indians aged 75 to 83 years old having visually significant cataracts or aphakia, compared to 46 percent of those aged 75 to 85 years in the United States (senile lens changes associated with a visual acuity of 6/9 or worse, or a history of cataract extraction). Moreover, at the same point, glaucoma prevalence is also increasing. Hence, cataracts and glaucoma are expected to propel the market of eye disorders in the forecast period 2022-2027.

Vision Disorders Market Segment Analysis – By Drug class

Vision Disorders Market based on Drug class can be further segmented into Anti-allergy, Anti-inflammatory, Anti-VEGF (Vascular Endothelial Growth Factor), Anti-glaucoma, Antibacterial, and Others. The Risk Management & Safety Solution segment held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 8.9% over the forecast period of 2022-2027. Owing to the increasing prevalence of eye diseases especially age-related macular degeneration, and diabetic retinopathy. Anti-VEGF drugs prevent aberrant blood vessels from leaking, developing, and bleeding beneath the retina. The protein vascular endothelial growth factor (VEGF) encourages the formation of new blood vessels. It also renders blood vessels more prone to leakage. Anti-VEGF drugs block the formation of new blood vessels. Anti-VEGF medication has been approved for age-related macular degeneration, diabetic retinopathy, retinal vein occlusion, and myopic choroidal neovascularization in the treatment of vascular and exudative diseases of the retina. Lucentis (ranibizumab) and Avastin are the two most extensively utilized medications at the moment (bevacizumab). Both medications are monoclonal antibodies that attach to each of the three types of VEGF, hence expanding the segment growth.

Vision Disorders Market Segmentation Analysis- By Geography

The Vision Disorders Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 31% in the year 2021 as compared to the other counterparts on account of increasing pharmaceutical industries. Furthermore, the presence of prominent competitors in this area, such as Pfizer, Inc., and Alcon, is projected to boost the market growth. For example, Alcon got FDA approval for Pataday Once Daily Relief and Pataday Twice Daily Relief for OTC sale in the United States in February 2020. The Pataday brand is used to treat itching and allergies in the eyes.

However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027 on account of rising healthcare expenditure, and demand for better healthcare facilities. Local businesses are launching strategic endeavors to create and market innovative patient treatment solutions. As a result, market growth is likely to accelerate. Bridge Biotherapeutics, Inc., for example, acquired an early-stage drug candidate for the treatment of a back-eye disorder from Konkuk University (KU) in February 2020. The therapeutic candidate is an inhibitor of a yet-to-be-identified target protein.

Vision Disorders Market Drivers

Pharmaceutical businesses in the ophthalmic field are embarking on strategic efforts that are propelling the market forward

Ophthalmic pharmaceutical firms are pursuing strategic efforts such as collaborations, acquisitions, and partnerships to add new clinical-stage prospects to their product pipelines, which is projected to enhance the market. Rising ophthalmic pharmaceutical business owing to increasing prevalence of eye disorders. According to the World Health Organization, over 2.2 billion individuals will have a vision impairment or blindness in 2021, with at least 1 billion of those having a vision impairment that can be avoided. Those with limited or severe vision impairment due to unresolved refractive error (123.7 million), cataract (65.2 million), glaucoma (6.9 million), corneal opacities (4.2 million), diabetic retinopathy (3 million), and trachoma (2 million), as well as those with imminent vision impairment due to unspecified presbyopia (1.2 billion) (826 million). The growing senior population is exacerbating the prevalence of ocular illnesses, with uncorrected refractive errors and cataracts being the leading causes of vision impairment. The majority of people with vision problems are above the age of 50, enhancing the Vision Disorders Industry.

Rising prevalence of lifestyle changing diseases, especially diabetes is driving the Market for Vision Disorders

According to CDC, in 2021, Diabetic retinopathy (DR) is a common diabetic condition. It is the primary cause of blindness in adults in the United States. Progressive damage of the blood vessels of the retina, the light-sensitive tissue at the back of the eye that is required for good vision, characterizes it. Mild nonproliferative retinopathy (microaneurysms), moderate nonproliferative retinopathy (blockage in some retinal vessels), severe nonproliferative retinopathy (more vessels are blocked, depriving the retina of blood supply, resulting in the formation of new blood vessels), and proliferative retinopathy (growth of new blood vessels) are the four stages of DR (most advanced stage). Both eyes are generally affected by diabetic retinopathy.

Disease management, which includes adequate control of blood sugar, blood pressure, and lipid abnormalities, reduce the risk of DR. Early detection and treatment of DR lessen the risk of vision loss; nevertheless, up to 50% of patients do not have their eyes tested or are detected too late for effective therapy. It is the primary cause of blindness among working-age adults in the United States, ages 20 to 74. Retinopathy and vision-threatening retinopathy impact an estimated 4.1 million and 899,000 Americans, respectively, thereby driving the market growth.

Vision Disorders Market Challenges

The increasing number of blockbuster medicine patents expiring is projected to stifle Market growth of Vision Disorders

Pharmaceutical businesses will lose exclusivity when their patents expire, but medication producers will be granted new chances and difficulties as the generic competition enters the market. The introduction of generic glaucoma eye drops to the market has lowered patient expenses and increased adherence in some patients thereby decreasing the prevalence of glaucoma disorder Market. For instance, Prostaglandin analogs are anticipated to cost patients more than $100 per month on average across the country. When the first generic prostaglandin analog was introduced in 2011, it was projected that patients switching to the generic version would save more than $1,300 per year. 5 A 30-day prescription for generic latanoprost costs between $19 and $30, according to recent data on www.GoodRx.com, where we practice in mid-Missouri, whereas the same prescription for Xalatan (latanoprost ophthalmic solution; Pfizer) costs between $139 and $154. Hence, the increasing number of blockbuster medicine patents expiring is projected to stifle Market growth of Vision Disorders.

Vision Disorders Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Vision Disorders Market. The top 10- Vision Disorders Market companies are-

  1. Croda International Plc
  2. AbbVie Inc
  3. Aerie Pharmaceuticals, Inc.
  4. Novartis AG
  5. AkzoNobel N.V.
  6. F. Hoffmann-La Roche Ltd.
  7. Evonik Industries
  8. PolyOne Corporation
  9. DuPont
  10. Addcomp Holland

Recent developments

  • In November 2021, Aerie Pharmaceuticals received marketing authorization approval from the European Commission for its Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% for the reduction of elevated IOP in adult patients with primary open-angle.
  • In October 2021, Abbvie Inc. launched a new drug named VUITYTM (pilocarpine HCl ophthalmic solution). Presbyopia, often known as age-related hazy near vision, is treated with VUITYTM (pilocarpine HCl ophthalmic solution) 1.25 percent in adults. VUITY is the first and only FDA-approved eye drop to treat this prevalent and degenerative eye disease, which affects 128 million Americans, or over half of the adult population in the United States.
  • In September 2021, Novartis acquired Arctos Medical, bolstering its ophthalmology portfolio with a pre-clinical optogenetics-based AAV gene therapy program and Arctos' proprietary technology. Novartis' dedication to finding solutions for individuals with vision loss, as well as the potential of optogenetics as a foundation for successful therapeutics, is shown in this acquisition.

Relevant Titles

Report Code: HCR 94497

Report Code: HCR 0281

Report Code: HCR 0209 

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1. Vision Disorders Market - Overview
    1.1 Definitions and Scope
2. Vision Disorders Market - Executive Summary
3. Vision Disorders Market - Comparative Analysis
    3.1 Company Benchmarking
    3.2 Global Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis
4. Vision Disorders Market - Startup Companies Scenario Premium
    4.1 Key Startup Company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Venture Capital and Funding Scenario
5. Vision Disorders Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Case Studies of Successful Ventures
6. Vision Disorders Market - Forces
    6.1 Market Drivers
    6.2 Market Constraints/Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining power of suppliers
        6.3.2 Bargaining powers of customers
        6.3.3 Threat of new entrants
        6.3.4 Rivalry among existing players
        6.3.5 Threat of substitutes
7. Vision Disorders Market – Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Vision Disorders Market – By Disease
    8.1 Dry Eye
    8.2 Eye allergy
    8.3 Glaucoma
    8.4 Cataract
    8.5 Pterygium
    8.6 Retinopathy
    8.7 Retinal Disorders
        8.7.1 Retinal Detachment
        8.7.2 Diabetic Retinopathy
        8.7.3 Macular Degeneration
        8.7.4 Retinitis Pigmentosa
        8.7.5 Others
    8.8 Uveitis
    8.9 Others
9. Vision Disorders Market – By Product Type
    9.1 OTC Drugs
    9.2 Prescription Drugs
10. Vision Disorders Market – By Drug Class
    10.1 Anti-allergy
        10.1.1 Antihistamines
        10.1.2 Others
    10.2 Anti-Inflammatory
        10.2.1 Corticosteroids
        10.2.2 NSAIDS
        10.2.3 Others
    10.3 Antibacterial
    10.4 Anti-VEGF
    10.5 Anti-glaucoma
    10.6 Others
11. Vision Disorders Market – By Product Type
    11.1 Drugs
        11.1.1 Biologics
        11.1.2 Others
    11.2 Devices
        11.2.1 Therapeutics
        11.2.2 Diagnostics
    11.3 Others
12. Vision Disorders Market - By Geography
    12.1 North America
        12.1.1 U.S.
        12.1.2 Canada
        12.1.3 Mexico
    12.2 Europe
        12.2.1 U.K.
        12.2.2 Germany
        12.2.3 France
        12.2.4 Italy
        12.2.5 Spain
        12.2.6 Russia
        12.2.7 Rest of Europe
    12.3 Asia-Pacific
        12.3.1 China
        12.3.2 India
        12.3.3 Japan
        12.3.4 South Korea
        12.3.5 Australia & New Zealand
        12.3.6 Rest of Asia-Pacific
    12.4 South America
        12.4.1 Brazil
        12.4.2 Argentina
        12.4.3 Chile
        12.4.4 Colombia
        12.4.5 Rest of South America
    12.5 Rest of the World
        12.5.1 Middle East
        12.5.2 Africa
13. Vision Disorders Market - Entropy
14. Vision Disorders Market – Industry/Segment Competition Landscape Premium 
    14.1 Market Share Analysis
        14.1.1 Global Market Share – Key Companies
        14.1.2 Market Share by Region – Key companies
        14.1.3 Market Share by Countries – Key Companies
    14.2 Competition Matrix
    14.3 Best Practices for Companies
15. Vision Disorders Market – Key Company List by Country Premium Premium
16. Vision Disorders Market - Company Analysis
    16.1 Company 1
    16.2 Company 2
    16.3 Company 3
    16.4 Company 4
    16.5 Company 5
    16.6 Company 6
    16.7 Company 7
    16.8 Company 8
    16.9 Company 9
    16.10 Company 10
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