PMR – Uveitis Market to Register CAGR 6.5% Increase in Revenue by 2024 End
The US$ 497 Mn uveitis treatment market is likely to expand at a stable CAGR of 6.5% over the next eight years. In 2017, the market is expected to witness nearly 6.7% Y-o-Y growth over 2016. During 2016-2024, Persistence Market Research predicts a positive growth outlook for the global uveitis treatment market, influenced by several growth drivers, restraints, trends, and opportunities.
In its recently published report titled “Uveitis Treatment Market: Industry Analysis and Forecast, 2016–2024,” the company provides in-depth analysis of the market growth prospects for the eight-year assessment period, backing it up with historic and current market data.
- Shifting Industry dynamics
- In-depth market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
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- Allergan, Inc.,
- Bausch & Lomb Incorporated.
- Novartis AG (Alcon Laboratories Inc.)
- AbbVie Inc.
- Santen Pharmaceutical Co., Ltd
- Eyegate Pharmaceuticals, Inc.
- Alimera Sciences, Inc.
- pSivida Corp.
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Persistence Market Research identified a few important drivers and trends that will continue to present attractive growth opportunities during 2016-2024.
While surge in autoimmune disorders is identified to primarily generate the demand for uveitis, the market has been witnessing strong emergence of immunosuppressive therapies to treat uveitis since the past few years, which is expected to create a new set of opportunities for leading players in near future.
“Some of the leading companies in the uveitis treatment marketplace have been investing in new, improved product launches since the past decade. While a significant number of uveitis drugs are already in the pipeline, increasing in-licensing approvals for new market entrants will boost the scope of treatment against uveitis, ultimately creating new lucrative opportunities,” states Persistence Market Research.
- Increasing demand for generic drugs also prompt at an important trend in the global uveitis treatment market that will reportedly generate a range of opportunities for established as well as new pharma players.
- In addition to growing R&D activities in the field of eye disorders, rising optometric clinical practice will also provide an impetus to market growth.
- With surging uveitis prevalence, a host of biological drug development projects is anticipated to push the potential of the uveitis treatment market.
- Moreover, growing prevalence of TB associated with intermediate uveitis will continue to push the opportunities in intermediate uveitis segment.
- Another proliferating trend in uveitis treatment market includes increasing demand for local steroid implants, especially for non-infectious posterior uveitis.
- As corticosteroid mono-therapy is no more considered the first line treatment for uveitis, the market has been witnessing introduction of various modified corticosteroid medication and drug delivery methods since the recent past.
- Major players in the segment are working to add novel drugs to their product portfolio.
- R&D in topical agents segment will also benefit the market growth in near future.
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Segmentation by treatment type:
- Monoclonal antibodies
- Cycloplegic agents
Corticosteroids will remain the largest segment, followed by antibiotics and monoclonal antibodies. While corticosteroids segment is foreseen to account for a dominant market share of over 21% in 2024, antibiotics segment is expected to witness the fastest growth at a CAGR of 8% – reaching beyond US$ 146 Mn over 2016-2024. Monoclonal antibodies segment will also exhibit healthy growth at a CAGR of 7%, reaching revenues worth US$ 142.7 Mn by the end of 2024.
Segmentation by disease type:
- Anterior uveitis
- Posterior uveitis
- Intermediate uveitis
Anterior uveitis segment will continue to dominate. Through 2024, this segment will capture around 60% value share, representing a value of over US$ 500 Mn. Posterior uveitis is also estimated for a considerable market value share of over 23% in 2024. Attributed to increased prevalence of TB in intermediate uveitis, the intermediate uveitis will possibly be the second fastest growing segment over the forecast period.
Segmentation by cause:
On the basis of cause, infectious uveitis will remain the larger segment with over 87% share by 2024 end but non-infectious uveitis is predicted to witness a higher CAGR of 7.4% during the eight-year period.
Segmentation by distribution channel:
- Hospital pharmacies
- Retail pharmacies
- Online pharmacies
- Drug stores
By distribution channel, hospital pharmacies segment will account for over 46% revenue share in 2024, whereas retail pharmacies segment is likely to capture around 30% share. Online pharmacies and drug stores segments will also witness healthy growth at over 6% CAGR during the aforementioned period.
Segmentation by region:
The report provides regional analysis that examines the global market classifying it into five key regions.
- North America
- Latin America
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
North America, the largest and fastest growing regional market for uveitis treatment globally, will retain its dominant position over the assessed period. With over 34% market value share in 2024, this regional will possibly account for around US$ 290 Mn. Europe will remain the second key market with nearly 27% share by the end of forecast period, followed by Asia Pacific.
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