London, 16 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global ophthalmic therapeutics market 2015-2019, which is expected to grow at a CAGR of 6.53% during the forecast period of 2014-2019.
Increasing instances of eye disorders like glaucoma, dry eye syndrome, diabetic retinopathy, and macular edema propel growth in this market. In developing countries, instances of eye disorders are extremely high owing to rapid industrialization. The unhealthy change in consumers’ lifestyle will also augment market growth. Increasing usage of electronic equipment like computers, TVs, and video games is expected to affect the consumers’ normal eyesight, resulting in the augmented demand for treatments.
“Some clinicians prescribe individuals with eye diseases a combination of drug therapies and focal or grid laser surgery as a treatment option. Combination therapy, when compared to laser therapy alone in individuals with DME, is more effective in increasing visual acuity and reducing central-retina thickness,” says Faisal Ghaus, Vice President of Technavio.
“The successful outcome of drugs used with laser coagulation treatments has substantiated the importance of combined therapy. The shortcomings of treatment with a single drug can be overcome with the use of combination therapy.”
Key Market Drivers:
- High Incidence of Eye Diseases.
- Increased Prevalence of Chronic Diseases.
- High unmet Medical Needs.
- Improved Diagnosis.
- Promising Drug Pipeline.
Key Market Trends:
- Strategic Alliances and M&A.
- Increased Initiatives and Programs.
- Use of Combination Therapies.
- Rise in R&D.
Key Market Vendors:
- Actavis plc
- Bayer AG
- F. Hoffmann-La Roche Ltd.
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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