LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global retinal drugs market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio market research analysts, the global retinal drugs market will grow at a CAGR of almost 8% during the forecast period. The rising prevalence of retinal diseases is a major factor driving the market’s growth.
The prevalence of retinal diseases such as wet AMD, diabetic retinopathy, DME, RVO, and mCNV has been increasing significantly in developed and developing countries. AMD is the leading cause of visual disability in industrialized countries and third leading cause of visual disability across the globe. In 2017, approximately 185 million people around the world had MD, and this number is expected to increase to approximately 200 million by 2022. Nearly nine out of every ten cases of AMD-related severe vision loss results from wet AMD. It is estimated that every year, about 500,000 individuals are being diagnosed with wet AMD. In North America, approximately 200,000 new cases of wet AMD are being diagnosed every year. AMD is also the leading cause of visual impairment in older people of European ancestry.
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In this report, Technavio highlights the development of innovative therapies as one of the key emerging trends in the global retinal drugs market:
Development of innovative therapies
Many innovative technologies such as gene therapy, eye drops, stem cells, and radiation are being investigated for the treatment of retinal diseases. Combination therapies are increasingly gaining prominence for the treatment of retinal diseases. For instance, a combination of anti-VEGF and Ozurdex is now routinely being used for treating DME. Numerous companies are concentrating on developing combination therapies for the treatment of retinal diseases.
“The two major approaches currently being researched include combining anti-VEGF with anti-platelet-derived growth factor agents and combining anti-VEGF agents with drugs that work on the ANG-Tie2 pathway. Other approaches being researched include combining anti-VEGF agents with steroids or integrins,” says a senior analyst at Technavio for research on infectious and rare diseases.
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Global retinal drugs market segmentation
This market research report segments the global retinal drugs market into the following end-users (process industry and discrete industry) and key regions (the Americas, APAC, and EMEA).
The Americas dominated the global retinal drugs market in 2017, accounting for a market share of close to 53%. It was followed by EMEA and APAC respectively. The Americas is anticipated to witness significant growth during the forecast period.
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