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.
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.
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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.
Segmentation by treatment type:
- Monoclonal antibodies
- Cycloplegic agents
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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.