The Uveitis Market is slated to witness exponentiation going forward. The IoMT (Internet-of-Medical-Things) is already transforming every walk of life, including healthcare. Healthcare IT has let both – patients and doctors carry/download information about each other anywhere and anytime through their smartphones/tabs. In other words, more connectivity translates to better access to data, thereby rendering better healthcare for patients. This would be the future of the healthcare vertical in the upcoming period.
The Uveitis Market is expected to reach US$ 840 Million at a CAGR of 6.5% from 2024. Tech-driven innovation is the trend that the healthcare vertical would be resting on in the forecast period. With precision medicine being the focal point, extensive research is being carried out in every arm of the healthcare vertical. The status quo is expected to stay unchanged even in the forecast period.
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.
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- Allergan, Inc.,
- Bausch & Lomb Incorporated.
- Novartis AG (Alcon Laboratories Inc.)
- AbbVie Inc.
- Santen Pharmaceutical Co., Ltd
- Eyegate Pharmaceuticals, Inc.
- Alimera Sciences, Inc.
- pSivida Corp.
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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.
- 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.
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Segmentation by treatment type:
- Monoclonal antibodies
- Cycloplegic agents
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.
Segmentation by disease type:
- Anterior uveitis
- Posterior uveitis
- Intermediate uveitis
Anterior uveitis segment will continue to dominate. Through 2024, this segment will capture around 60% value share, representing a value of over US$ 500 Mn. Posterior uveitis is also estimated for a considerable market value share of over 23% in 2024. Attributed to increased prevalence of TB in intermediate uveitis, the intermediate uveitis will possibly be the second fastest growing segment over the forecast period.
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