The ophthalmology sector has gained massive traction during the course of the last few years. This is a result of growing prevalence of diseases like macular edema, which is a severe case of swelling in the retina possibly leading to blindness. Looking at the significant increase in the number of macular edema cases, many new drugs have been introduced in the global market and several are still in the pipeline. Anti-VEGF and corticosteroid therapies are considered to be the standard therapies for prevention of vision loss in patients in various indications of macular edema.
The other drug types that are part of the macular edema treatment market are immunosuppressant and biologics, and many new treatment types are expected to be introduced as the market continues to grow. The outcomes of a recent market research by Persistence Market Research has revealed the growth of the global non-infectious macular edema treatment market at a CAGR of 7.0% during the forecast period 2018-2026. The study also projects the market to reach a valuation of over US$ 17,200 Mn by the end of 2026.
Increase in the Number of Combination Therapies to Boost Demand in the Global Market
Novel biological drugs are now being introduced owing to the increase in prevalence of macular edema cases. Even standard drugs such as Corticosteroids and anti-VEGF that are viewed as the first-line treatment for non-infectious macular edema are facing a limitation in use due to the associated side effects. This has given a leverage to companies to come up with other effective therapies. The new trends include a rise in the prescription of combination therapies that are more reliable in complex cases. This has increased the efficiency of the treatment process. An increase in the use of combination drugs is anticipated to spur demand in the non-infectious macular edema treatment market.
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Rate of Incidence of Macular Edema High in Europe Due to the Rising Prevalence of Diabetes
Diabetes related complications are one of the main causes of macular edema and there is a high rate of Diabetic Macular Edema (DME) in several countries across Europe. This makes the European market highly lucrative for manufacturers to introduce newer therapies and treatment options. However, the market forecast for the period of 2018-2026 projects North America to be the leading region in the global non-infectious macular edema treatment market with a valuation of over US$ 5,900 Mn by the end of 2026. In terms of growth rate, APAC is anticipated to exhibit growth at the fastest rate during the forecast period.
Leading pharmaceutical and drug manufacturing companies from developed countries are investing substantially in R&D, infrastructure and new technologies in ophthalmology therapeutics to capture significant market share. Several companies are involved in mergers and acquisitions to design new and innovative treatment options for macular edema. Some of the leading companies that dominate the market currently include Allergan, Plc. Pfizer, Inc., Novartis AG, F. Hoffman – La Roche Ltd., AbbVie Inc. etc.