Uveitis Treatment Market Foreseen to Exceed the US$ 1,036.0 Million Threshold by 2027 | CAGR: 6.9%: Coherent Market Insights
Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global uveitis treatment market was pegged at US$ 648.4 Mn in 2020 and is projected to display a significant 6.9% CAGR over the forecast period (2020-2027).
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Escalating prevalence of autoimmune diseases has resulted to a higher demand for uveitis treatment across the globe. Corticosteroids are nowadays being considered as a potential option for uveitis treatment, which is likely to propel the growth of the global uveitis treatment market over the projected timeline. In a study published in the Journal of Ophthalmology in 2014, it was found that around 88% of uveitis patients can be cured using sustained-release intraocular corticosteroids.
According to the Clinical Investigation Department of the Open Access Journals, in 2013, there is an ascending number of research studies on various new treatments carried out by the leading healthcare companies, as well as research institutes in the U.S. Treatments such as next-generation calcineurin inhibitors, which aid in T-cell proliferation, are also being studied at present. Furthermore, a number of innovations in treatment of uveitis were reported during 2015–2017. For instance, AbbVie Pharmaceutical Company’s HUMIRA (adalimumab) received the U.S. FDA approval in June 2016.
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Among the numerous disease types, the anterior uveitis treatment segment is projected to grow significantly in the near future, owing to the surging prevalence of chronic diseases, such as eye trauma, mumps and rubella.
North America is projected to evolve as the principal growth engine in the global uveitis treatment market over the forecast timeframe. A large number of companies in this region, with several uveitis treatment drugs currently in the pipeline, fosters market growth in this region. For instance, the EGP-437 developed by Eyegate Pharmaceuticals for the treatment of anterior uveitis successfully passed the Phase III clinical in February 2018. Various other factors contributing for growth of the market in North America are increasing prevalence of uveitis, rising aging population, and growing companies and government initiatives to reduce diseases associated with the eyes.
The Asia Pacific uveitis treatment market is poised to witness tremendous growth in the foreseeable future, owing to the growing incidence of chronic diseases, as well as increasing investments by the local companies in the development of novel biologics for uveitis treatment.
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Significant Takeaways of the Global Uveitis Treatment Market:
- Among the various treatment types, the monoclonal antibodies segment is foreseen to gain major popularity over the forecast timeline, thanks to the enhanced efficacy of these drugs in uveitis treatment.
- Among disease types, the anterior uveitis is estimated to dominate the global market over the course of the next few years.
- The key players operating in the global uveitis treatment market are AbbVie, Inc., Novartis AG, Eyegate Pharmaceuticals, Inc., Santen Pharmaceuticals, Allergan Plc, Regeneron Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., and Alimera Sciences.
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