LONDON--(BUSINESS WIRE)--The global ophthalmology therapeutics market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
The prevalence of eye diseases has increased worldwide and is considered a major public health concern as it has a severe impact on the personal, economic, and social life of an individual. Eye diseases such as age-related macular degeneration, RVO, and diabetic retinopathy are some of the common disorders of the retina and one of the most common causes of blindness globally. Glaucoma is another major eye condition that can damage the optic nerve of a person and lead to eye disease. The prevalence of glaucoma has increased worldwide. This epidemic occurrence of eye diseases globally is expected to drive the global ophthalmology therapeutics market during the forecast period.
As per Technavio, the development of novel drug delivery systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global ophthalmology therapeutics market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global ophthalmology therapeutics market: Development of novel drug delivery systems
There has been an increase in the focus on developing novel therapeutics and delivery systems to treat eye diseases. These novel therapeutics and new drug delivery systems reduce the adverse effects, increase the bioavailability of drugs to the targeted site and have a prolonged action. For example, glaucoma affects millions of people globally and is the leading cause of blindness. The most common way of treating glaucoma involves a regimen of medicated eye drops. However, many patients may find it difficult to this treatment regimen, which may ultimately result in poor patient compliance. Therefore, several new drug delivery systems are undergoing development, which will prove to be a boon for the ophthalmology therapeutics market in the long run.
“Apart from the development of novel drug delivery systems, the increasing new drug approvals and strong drug pipeline is another major factor that is driving the growth of the global market. The increasing incidence of eye disease is encouraging the top players in the market to focus on the development of disease-modifying drugs to treat these diseases. The market is also witnessing the approvals of several new drugs, which will act as a catalyst for market growth,” says a senior analyst at Technavio.
Global ophthalmology therapeutics market: Segmentation analysis
This market research report segments the global ophthalmology therapeutics market by product (retinal disorder therapeutics, glaucoma therapeutics, dry eye syndrome therapeutics, eye infections and inflammation therapeutic, other therapeutics), and geographical regions (North America, Europe, Asia, and ROW).
The North American region led the market in 2018, followed by Europe, Asia, and ROW, respectively. However, during the forecast period, the Asian region is expected to register the highest incremental growth due to the approval of new drugs in the region.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at media@technavio.com.
