Global Intravitreal Injectable Market Size- 2020-2027
Global Intravitreal Injectable Market is segmented By Drug Class (Anti-VEGF, Steroids, Antibiotics, Antifungals, Antivirals), By Indication (Diabetic Retinopathy, Macular Degeneration, Endophthalmitis, Retinal Vein Occlusions, Others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2020-2027
The global Intravitreal Injectable market was worth the US $XX billion in 2018 and is forecasted to reach US $XX billion by 2027, at a CAGR of 4.7% during the forecast period (2020-2027).
Intravitreal injection is an effective mode of treatment used to treat retinal diseases, such as diabetic retinopathy, macular degeneration, endophthalmitis, retinal vein occlusion, and others. An intravitreal injection is used to place medication directly in the space back of the eye called the vitreous cavity, which is filled with a fluid called the vitreous humor gel. Growing retinal disorders is expected to drive the global intravitreal injectable market over the forecast period at a high pace.
Chronic retinal patients often require repeated dosages of intravitreal (IVT) injectable. Thus, growing chronic retinal diseases is the major factor boosting the global intravitreal injectable market. According to WHO (World Health Organization), 2018, around 188.5 million people have a mild vision impairment, and 217 million have moderate to severe vision impairment. Additionally, key manufacturers are focusing on the development of new drugs to meet the needs of patients. For instance, in April 2017, Roche’s ‘Lucentis’ (ranibizumab injection) for diabetic retinopathy was approved by the FDA.
Based on drug class, the global intravitreal injectable market is broadly segmented as anti-VEGF, antibiotics, antifungals, steroids. Among all these anti-VEGF accounted for major market share in 2018, and is projected to grow at a high CAGR over the forecast period. Rising prevalence of these chronic retinal diseases has led to the growth of anti-VEGF drugs. Anti-VEGF drugs have proven to be safe for intraocular use as they reduce leakage of fluid in case of eye disorders. Its superior features, such as excellent biocompatibility and impressive pharmacodynamics properties, have led to its increased popularity among ophthalmologist worldwide. Anti-VEGF drugs mostly target chronic retinal diseases, such as diabetic retinopathy, macular degeneration, retinal vein occlusion, and others. According to the American Academy of Ophthalmology, around 2.1 million Americans aged 50 and above have age-related macular degeneration; diabetic retinopathy affects nearly 7.7 million Americans age 40 and older. Thus, growing chronic retinal diseases is expected to drive the anti-VEGF segment in the global intravitreal injectable market.
The global Intravitreal Injectables market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America accounted for a major market share in 2018 and is projected to grow at a significant rate over the forecast period (2019-2026). It is due to the increase in the prescription of retinal biologics. Also, advanced high healthcare facilities, coupled with the growing prevalence of eye disorders. According to CDC (Centers for Disease Control and Prevention), in 2015,an average of 1.8 million Americans aged 40 years and older are affected by macular degeneration, and it is expected to reach 2.95 million by 2020.
Significant players of the global Intravitreal Injectables market are F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals, Inc., Alcon Pharmaceuticals, Valeant Pharmaceuticals International, Inc., Novartis AG, Allergan, Alimera Sciences, ThromboGenics, Inc., Bristol-Myers Squibb Company, and others. Majority of these prominent players are adopting few organic and inorganic strategies such as product launches, collaboration, and product agreements, and other key developments to enhance their product portfolio in the intravitreal injectables market. For instance, in July 2018, Roche announced the first successful phase II study of a long-acting delivery device for the treatment of neovascular (“wet”) age-related macular degeneration (nAMD).
In August 2018, Regeneron Pharmaceuticals, Inc. announced that its EYLEA® (aflibercept) Injection was approved by the U.S. Food and Drug Administration (FDA).
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