COVID-19 Impact Analysis on the Global Ophthalmic Drugs Market

COVID-19 Impact Analysis on the Global Ophthalmic Drugs Market

The outbreak of the coronavirus disease has presented credible opportunities for the expansion of the ophthalmic drugs market. There have been multiple reports about eye redness and irritation in COVID-19 patients, suggesting that conjunctivitis could be an ocular manifestation of novel coronavirus infection. It was concluded in 2003 during the outbreak of SARS that lack of eye protection was the primary cause of transmission of the virus. A similar trend has been observed in the current wave of infections. However, most ocular manifestation of COVID-19 is self-limited and can be managed with symptomatic care.

With several countries easing social distancing measures, the supply chain of ophthalmic drugs market is anticipated to function normally. In light of the abovementioned trends, hospitals and other healthcare settings will demand increased quantities of ophthalmic drugs as a precautionary measure. With the logistical arrangements reverting to normal, availability of such drugs will become much easier. Moreover, leading manufacturers have been increasing their productive capacities and are optimistic about registering an uptick in their operations in the wake of the easing of restrictions.

North America is poised to capture a majority of the global ophthalmic drugs market share (~2/5th) while the Asia-Pacific region is anticipated to expand at a CAGR of 4.9% during the forecast period. High cost of prescription drugs and the presence of key market players such as shall burgeon the North American ophthalmic drugs market.

Considering the analyst viewpoint on Global Ophthalmic Drugs Market, Fact.MR analyst opines, “increasing patient pool acquiring retinal problems is a key driver augmenting growth of the retinal disorders segment. According to sources, the number of patients with age-related macular degeneration (AMD) is anticipated to rise to 288 million by 2040. Rising pool of glaucoma patients and presence of key market players like Pfizer, Inc., Novartis AG and Valeant Pharmaceuticals International, Inc. manufacturing important drugs and formulations are anticipated to leverage market share of glaucoma drugs.”

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