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The ophthalmic drugs contract manufacturing market is estimated to be worth $0.79 billion in 2020 and is expected to grow at CAGR of 8% during the forecast period. Factors such as cost efficiency provided by CDMOs and increasing prevalence of ophthalmic diseases are driving the ophthalmic drugs contract manufacturing market growth. Ophthalmic diseases, such as age-related macular degeneration, cataract, diabetic retinopathy, dry eye and glaucoma, are considered among the leading causes of vision loss across the globe. According to the World Health Organization’s report published in 2019, at least 2.2 billion individuals in the world are reported to be visually impaired. In fact, blindness caused due to multiple reasons, is projected to increase to 75 million affected individuals by 2020. Moreover, current estimates indicate that the total economic burden related to vision loss is expected to reach approximately USD 384 billion by 2030, in the US alone. The rise in incidence and prevalence of chronic eye disorders has prompted the medical research community to actively develop a variety of ophthalmic drugs / therapies. The current ophthalmic diseases treatment landscape is characterized by a number of blockbuster therapies, namely ALPHAGAN®, COSOPT®, LUMIGAN®, PAZEO®, RESTASIS®, TRAVATAN Z®, and XALATAN®, and a robust pipeline of over 400 candidate drugs in various stages of clinical development, designed for the treatment of approximately 1,000 chronic eye disorders.
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Owing to various reasons, such as growing manufacturing demand, need for specialized facilities, equipment and operational expertise, and high costs of development associated with certain drugs / therapies, a number of innovator companies have demonstrated a preference to outsource certain aspects of ophthalmic drug development and production operations to contract service providers. Contract manufacturing organizations (CMOs) and contract development and manufacturing organizations (CDMOs) are known to offer significant benefits, which include reduction in capital investment, access to larger production capacities, reductions in time-to-market and also guarantee a significant degree of commercial risk mitigation. Since 2000, more than 75 new ophthalmology focused CMOs have been established. Amidst the tough competition, the availability of cutting-edge tools and technologies has emerged as a differentiating factor and is likely to grant a competitive advantage to certain CMOs over other players in the industry. This has caused many service providers to actively expand their respective service portfolios, either through strategic acquisitions or facility / capability expansions. Over time, many CMOs / CDMOs claim to have developed end-to-end service capabilities, ranging from drug development (including preliminary R&D, preclinical studies and clinical trials), to regulatory filings, and commercial scale production.
In light of the aforementioned facts, several CMOs based in the Asia-Pacific region (such as India, China and Japan) play a critical role in the global ophthalmic API and FDF manufacturing. We believe that, the changing supply chain scenario due to the recent COVID-19 pandemic is likely to have a prominent impact on the global contract manufacturing industry, including China, in the short term. As pharma companies resume full-scale operation after the coronavirus outbreak, the demand for large-scale contract manufacturing is expected to increase significantly. Owing to this, the ophthalmic drugs contract manufacturing market is likely to witness substantial market growth during the forecast period.
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Several recent developments have taken place in the field of ophthalmic drugs contract manufacturing market. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
Examples of key companies engaged in ophthalmic drugs contract manufacturing market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Akorn, Catalent, Cayman Chemical, Pillar5 Pharma, Sterling Pharmaceutical Services, FARMIGEA, Lomapharm, Medichem, Recipharm, Salvat, Akums, Bal Pharma, Entod Pharmaceuticals, Glenmark Pharmaceuticals, Indiana Ophthalmics and Sunways India. This market report includes an easily searchable excel database of all the companies providing ophthalmic drugs contract manufacturing services, worldwide.
The ‘Ophthalmic Drugs Contract Manufacturing Market, 2020-2030’ market report features an extensive study of the current market landscape, market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunities of the ophthalmic drugs contract manufacturing market. It is worth mentioning that the market research report primarily focuses on small molecule active pharmaceutical ingredients (APIs) and finished dosage forms (FDFs), including ophthalmic drops, emulsions, gels, injections, lotions, ointments, suspensions, and tablets / capsules. It features in-depth analyses, highlighting the capabilities of a diverse set of CMOs and CDMOs.
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Amongst other elements, the market research report includes:
The key objective of ophthalmic drugs contract manufacturing market report is to provide a detailed market analysis in order to estimate the existing market size, market share, market growth, market trends, market value, market forecast, market outlook, statistics and future opportunity for ophthalmic drugs contract manufacturing market during the forecast period. Based on various parameters, such as growth of the overall ophthalmic drugs market, cost of goods sold, and direct manufacturing costs, we have provided an informed estimate of the likely evolution of the market in the short to mid-term and long term, for the forecast period 2020-2030. In order to provide a detailed future outlook, our projections have been segmented on the basis of [A] type of product (APIs and FDFs), [B] type of FDF manufactured (solids, semi-solids, and liquids / suspensions), [C] type of primary packaging (ampoules / vials, glass / plastic bottles, ointment tubes, blister packing, and other forms), [D] scale of manufacturing (preclinical, clinical, and commercial), [E] company size (small sized, mid-sized, and large-sized companies), [F] key disease indications (age-related macular degeneration, glaucoma, uveitis, dry eye, and other disease segments), and [G] key geographical regions, covering North America (the US, Canada and Mexico), Europe (the UK, Germany, France, Spain, Italy and rest of Europe), and Asia-Pacific (India, China, Japan, Australia and rest of Asia-Pacific). To account for the uncertainties associated with the growth of the ophthalmic drugs contract manufacturing market and to add robustness to our model, we have provided three market forecast scenarios, portraying the conservative, base and optimistic tracks of the market’s evolution.
The opinions presented in this market research report were influenced by inputs (through an industry-wide survey) of several key players in this domain. In addition, the market report features detailed transcripts of interviews held with the following individuals:
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market research report are in USD, unless otherwise specified.