Covina, CA, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The prevalence of eye diseases is one of the critical reasons that will drive ophthalmology therapeutics market growth. Eye diseases such as age-related macular degeneration negatively impact the personal, economic, and social life of an individual.
The global retinal disease therapeutics market accounted for US$ 10.5 billion in 2019 and is anticipated to register a CAGR of 8.5%.
The report "Global Retinal Disease Therapeutics Market, By Indication (Macular Degeneration, Diabetic Macular Edema, Diabetic Retinopathy, and Retinal Vein Occlusion), By Application (Hospital Pharmacy, Retail Pharmacy, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Key Highlights:
- In April 2020, Novartis acquired Amblyotech, a US-based software startup, and will, in collaboration with Ubisoft and McGill University, pursue the development of the acquired digital technology for the treatment of amblyopia.
- In October 2019, Immunovant merged with Health Science Acquisitions Corporation, which will create new publicly Listed FcRn-Focused Company.
Analyst View:
Rise in the incidence of eye-related diseases
There is an alarming rise in the incidence of eye-related diseases, especially in developed countries, which in turn is anticipated to drive the growth of the global retinal drugs market during the forecast period. According to an update from the American Academy of Ophthalmology in 2016, about 93 million people had diabetic retinopathy worldwide, of which 4.2 million patients were from the U.S. Increasing health education initiatives about eye diseases to seek early treatment and prevent visual impairment in emerging regions are further anticipated to fuel the expansion of the global market for retinal drugs during the forecast period.
Increasing awareness about eye disease
Several initiatives have been undertaken across the globe to spread awareness about diagnosis and treatment methods of ophthalmic diseases. The International Centre for Eye Health focuses on increasing awareness about eye health problems and treatment. The World Glaucoma Association has been arranging World Glaucoma Congress for the past six years to increase awareness and discussion about glaucoma treatment advancements. Macular Degeneration Association, Inc. arranges seminars every month across various places to increase treatment penetration for age-related macular degeneration (AMD). These initiatives are expected to increase the adoption of various treatment methods which in turn is projected to fuel the growth of the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Retinal Disease Therapeutics Market”, By Indication (Macular Degeneration, Diabetic Macular Edema, Diabetic Retinopathy, and Retinal Vein Occlusion), By Application (Hospital Pharmacy, Retail Pharmacy, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global retinal disease therapeutics market accounted for US$ 10.5 billion in 2019 and is anticipated to register a CAGR of 8.5%. The market report has been segmented on the basis of indication, application, and region.
- Depending upon indication, the macular degeneration segment is projected to grow at highest CAGR over the forecast period due to rising burden of diabetes.
- Depending upon application, the hospital pharmacy segment is projected to grow at highest CAGR over the forecast period. This is attributed to the availability of well-equipped infrastructure for eye-care in multispecialty hospitals.
- By region, North America is expected to account for a significant share of the market in terms of revenue. High research and development activities in the field of ophthalmic drugs, rising patient population, and high disposable income are factors which are attributed to the high market share of the region.
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Competitive Landscape:
The prominent player operating in the global retinal disease therapeutics market includes Santen Pharmaceutical Co., Ltd., Regeneron Pharmaceuticals, Inc., Shire Plc, Bayer AG, Novartis International AG, Valeant Pharmaceuticals International, Inc., and Merck & Co., Inc..
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis
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