LONDON--(BUSINESS WIRE)--The global retinal drugs market is projected to grow at a CAGR of close to 12% over the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global retinal drugs market for 2017-2021. Based on the type of disease, the market is divided into MD drug and diabetic eye disease drug segments.
The retinal drugs market holds the largest share of the global ophthalmic disorder treatment market, followed by glaucoma treatment drugs market. Countries across the globe are investing significantly in the healthcare sector, which has, in turn, increased awareness and diagnosis rate of the disease.
Technavio’s research study segments the global retinal drugs market into the following regions:
- Americas
- EMEA
- APAC
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Retinal drugs market in the Americas
“The Americas dominated the global retinal drugs market, accounting for nearly 49% of the global revenue in 2016. The US was the largest revenue contributor. The high prevalence of retinal disorders such as age-related macular degeneration and diabetic retinopathy is expected to boost the growth of the market,” says Sapna Jha, a lead analyst at Technavio for infectious and rare diseases research.
The novel therapies entering the market will be the primary drivers of growth in the US, age-related macular degeneration (AMD) drugs such as Squalamine and Fovista are expected to be launched during the forecasted period. Also, expiration of patents over the forecast period presents significant opportunities for biosimilar manufacturers, who are likely to introduce new products.
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Retinal drugs market in EMEA
The established healthcare infrastructure in Europe is increasing the awareness levels and thereby, resulting in high demand for retinal drugs, particularly for diabetic eye diseases and AMD. This demand is especially emerging from developed economies such as the UK, Italy, Spain, Germany, and France.
Rising geriatric population and instances of diabetes are expected to be important factors driving the demand for retinal drugs in the region. A well-established healthcare system and government support in the European countries is a major advantage. Also, the rise in macular disorders (primarily associated with aging) will provide a boost to the market growth during the forecast period.
Retinal drugs market in APAC
Diabetes is turning into an epidemic in most countries in Asia. China, India, Indonesia, Japan, and Bangladesh had the highest populations with diabetes in 2015. This provides significant market opportunities to vendors, drawing rising investments towards the healthcare sector.
“APAC will post the highest growth rate, with a projected CAGR of over 14% through the forecast period. Japan is the largest revenue generator, driven by the demand from its large geriatric population. Diabetic retinopathy drugs are in high demand from India, China, and Japan,” says Sapna.
The top vendors in the global retinal drugs market highlighted in the report are:
- Bayer
- Novartis
- Regeneron
- F. Hoffmann-La Roche
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