World News: 11:00 GMT Friday 12th July 2019. [Acumen Research and Consulting via Globe Newswire via SPi World News]
LOS ANGELES, July 12, 2019 (GLOBE NEWSWIRE) -- The global size is estimated to grow at CAGR above 5.5 % over the forecast time frame 2019 to 2026 and reach the market value around USD 860 million by 2026.
The main driver on the market is the increased incidence of uveitis and the associated complications. Furthermore, increased expenses in the studies and development of fresh medicines and treatments as well as innovative biological products are fueling the growth of the industry. In reality, the market has already gained traction in the latest therapy methods for uveitis, like corticasteroids and anti-inflammatory drugs. Additional variables that provide market insight are rapid drug approvals in pipeline and fresh drug administration routes, which enhance drug efficacy.
Although there are many drivers on the market, a number of restrictions can hinder development. Some are high drugs prices and side effects like watery eyes and irritations. Some are very expensive. The absence of awareness of eye disorders, shoddy primary healthcare facilities, and absence of health insurance is also supposed to hinder the market in developing and underdeveloped nations.
Because of the early approval of pipeline medicines in comparison to other areas, North America has been the market leader in uveitis therapy. The increasing incidence of uveitis and associated illnesses, a growing geriatric population, and increased investment in research and development by drug manufacturing firms in the development of new medicines such as corticosteroid products are other factors that lead to growth in the regional economy.
In Europe, the growth in autoimmune illnesses, such as AIDS and various sclerosis, have boosted the uveitis therapy industry. Because of a increasing amount of elderly people and the elevated incidence of eye illnesses, Germany in specific has seen fast development. The Asian market is growing rapidly, too, for the same reasons that markets expand in North America and Europe.
Uveitis, a disease of the autoimmune eye is uncommon for just 38 in 100,000 individuals. It is frequently ignored because of this. After much delay, uveitis patients are often referred to an expert because of their reduced knowledge of eye disease. This delays the diagnosis quickly and leads to irreversible harm of different eye structures.
According to Cochrane, a UK based global Non-Profit, uveitis is the fifth leading cause for sight loss in developed nations. It represents 5% to 20% of blindness, mainly in working individuals. uveitis accounts for 2,4% to 24% of legal blindness in advanced and underdeveloped nations.
Due to the availability of a broad range of alternatives for eye inflammation management in hospitals, hospital pharmacies were the market leader in 2018. In addition, a wide range of patients are treated and cared for in clinics, making hospital doctorates a leading sector. The use of internet pharmacies with a broad variety of medicines and comprehensive product data is anticipated to be important to CAGR throughout the prediction era. Furthermore, an increasing popularity of the e-commerce channels offering discounted prescribed medications is a further driver of development.
Anterior uveitis resulted the market in 2018 as both adults and young people were highly vulnerable. More study in this area also shows that this kind of disease grows with age. The risk of untreated uveitis leading to vision loss as well as cataract growth, glaucoma or retinal oedema is high.
Knowledge of key market participants is increasingly being adopted by key producers such as new product development, mergers and acquisitions, and regional expansion, for example, EyePoint Pharmaceuticals, Inc. was obtained in 2018 by the USA. YUTIQ's FDA approval, a non-infectious uveitis treatment implantable that impacts the back of the eye.
Key players include Bausch & Lomb, Inc.; Allergan, Inc.; AbbVie, Inc.; Novartis AG; Eyegate Pharmaceuticals, Inc. Santen Pharmaceutical Co., Ltd; EyePoint Pharmaceuticals, Inc.
Globe Newswire: 11:00 GMT Friday 12th July 2019
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