The Global Retinal Disease Therapeutics Market is likely to expand at an impressive rate driven by recent government participation towards the prevention and control of retinal diseases. According to a report published by Fortune Business Insights, titled “Retinal Disease Therapeutics: Global Market Analysis, Insights, and Forecast, 2019-2026,” the market is likely to reach US$ 21,318.0 Mn by the end of 2026. The market was valued at US$ 11,044.2 Mn in 2018 and is likely to witness a CAGR of 8.6% in the forecast period.
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- Hoffmann-La Roche AG’s ‘Lucentis’ is Gaining Increasing Popularity
The global retinal disease therapeutics market is consolidated in nature, with only a handful of market players accounting for maximum share of the market. With consolidation, it is becoming increasingly difficult for newer market entrants to establish a stronghold or derive immediate success.Therefore the global market is boosted by products and concepts introduced by existing companies.
One such instance of this development is the “Lucentis” therapy, put forward by F. Hoffmann-La Roche AG. Lucentis was introduced with the aim of providing therapeutic advice and development of products for patients suffering from chronic disease. In 2017, the Food and Drug Administration (FDA) approved Lucentis for diabetic retinopathy. The diabetic retinopathy is a severe kind of disorder that has accounted for the majority of cases of blindness in the US. Lucentis was an instant hit among healthcare professionals after it was backed by a series of clinical trials and approvals from the National Institute of Health (NIH).
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Excellent clinical effects of Lucentis have led to a subsequent rise in demand for medicine among patients. The increasing demand has contributed to the growth of the global retinal disease therapeutics market and is likely to favor the market in the forthcoming years.
North America to Emerge Dominant in the Forecast PeriodThe increasing government investment towards research and development of retinal disease drugs and diagnostic devices is enabling growth in the retinal diseases therapeutics market in North America. North America has emerged dominant in the global retinal disease therapeutics market in recent years. The retinal disease therapeutics market in North America was valued at US$ 4056.5Mn in 2018 and is likely to increase in the coming years.
Improved health infrastructures, increasing patient pool, and favourable health reimbursement policies are some of the factors that are likely to boost the regional market in the forthcoming years. High prevalence of retinal diseases in Asia Pacific is a major reason, why this region is estimated to rise with the highest CAGR in the forecast period.
Some of the leading companies that are operating in the global retinal disease therapeutics market are Merck & Co., Inc., Novartis AG, Allergan plc, F. Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., and Santen Pharmaceutical Co., Ltd.
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