India and China to lead modest growth in Asia-Pacific ophthalmology drug market

The ophthalmology therapeutics market for dry eye syndrome (DES) and glaucoma in four Asia-Pacific (APAC) countries - India, Australia, China and Japan - will increase from $2.4 billion in 2012 to $3.3 billion by 2019, expanding at a compound annual growth rate (CAGR) of 5%, forecasts business intelligence provider GBI Research.

The company’s latest report states that the Indian market is expected to show the fastest growth over the forecast period, with almost a double-digit CAGR of 9.9%, followed by China with a CAGR of 5%.

In 2012, Japan had the largest share of the ophthalmology market with $1,065 million (45%), followed by China, India and Australia with shares of $767 million (33%), $427 million (18%) and $95 million (4%), respectively.