Ophthalmic Drugs Contract Manufacturing Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Ophthalmic Drugs Contract Manufacturing Market is segmented By Type of Product (APIs, FDFs), By Type of FDF Manufactured (Solids, Semi-solids, Liquids....
Ophthalmic Drugs Contract Manufacturing Market Size
Market Size in USD
CAGR12.7%
| Study Period | 2024 - 2031 |
| Base Year of Estimation | 2023 |
| CAGR | 12.7% |
| Market Concentration | High |
| Major Players | Catalent, Recipharm, Akorn, Pillar5 Pharma, Sterling Pharmaceutical Services |
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Ophthalmic Drugs Contract Manufacturing Market Analysis
The ophthalmic drugs contract manufacturing market is estimated to be valued at USD 1.6 billion in 2024 and is expected to reach USD 3.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.7% from 2024 to 2031. This consistent growth can be attributed to the rising prevalence of ophthalmic disorders like cataracts, diabetic retinopathy, and glaucoma.
The market is expected to witness significant growth over the forecast period due to increasing outsourcing of ophthalmic drug manufacturing by pharmaceutical companies. Growing geriatric population susceptible to age-related eye disorders will also drive the demand for contracted ophthalmic drug manufacturing services. Overall growth in the pharmaceutical industry and focus on core competencies are compelling drug makers to rely more on CMOs for their manufacturing needs.