ALBANY, New York, March 19, 2018 /PRNewswire/ --
According to World Health Organization, number of people affected with diabetes has exceeded 400 Mn, in case of adults, in 2014. Additionally, global prevalence of diabetes doubled, rising at over 8% in adult population. The Department of Assistive and Rehabilitative Services (DARS) has reported that nearly 80% of the diabetic population was affected from diabetic retinopathy in 2013, with a notable portion of this percentile estimated to acquire the proliferative condition. These numbers are further poised to witness a rise in the years to come, driven by unhealthy consumption patterns and comfort-driven lifestyles of consumers worldwide. This will further have a robust impact on demand for treatment drugs apropos to proliferative diabetic retinopathy in the foreseeable future.
The report estimates the market to record a splendid rise over the forecast period 2017 to 2026. Nearly US$ 1,000 Mn worth of drugs for treatment of proliferative diabetic retinopathy are anticipated to be sold worldwide by 2026-end. Considered as a serious sight threatening ailment on account of long-term exposure to diabetes, diabetic retinopathy results into progressive retinal damage and affects retinal circulatory system. Extremity of the disease, which may lead to proliferative condition, determines the selection of effective therapeutic measure, thereby entailing requirement for intraocular injections, laser surgery, vitrectomy, or anti-VEGF drug prescriptions.
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North America to Stay at Forefront of Global Proliferative Diabetic Retinopathy Market
In terms of revenues, North America is likely to remain at the forefront of the global proliferative diabetic retinopathy, driven by supportive reimbursement policies offered by the government coupled with greater prevalence of diabetes in the region. Additionally, robust penetration of management drugs such as anti-VEGF drugs viz. Lucentis, Avastin, and Eylea, has further supported revenue generation from treatment of this disease in North America. Europe and Asia-Pacific excluding Japan are also likely to endure as significant revenue contributors to the global proliferative diabetic retinopathy market.
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Anti-VEGF drugs are likely to remain preferred among various drug class utilized for treatment of proliferative diabetic retinopathy across the globe. Revenues from sales of anti-VEGF drugs are poised to reach approximately US$ 700 Mn by 2026-end. Although corticosteroids' sales are expected to record an impressive expansion in the market, revenues from this drug class will continue to be sluggish.
Key Research Findings from TMR's Report
- Albeit injectables will account for relatively larger market revenue share based on mode of administration, revenues from oral mode of administration of drugs for treating proliferative diabetic retinopathy will increase at the highest CAGR through 2026
- Retail pharmacies will persist as fast-expanding distribution channel for proliferative diabetic retinopathy treatment drugs
Companies in the global proliferative diabetic retinopathy market are employing strategic initiatives that include product development, geographical expansion, acquisitions, and mergers. These strategies are likely to aid the market players in advancing their businesses and increasing their market footprint. For example, ThromboGenics initiated partnership with Novartis (Alcon) for assisting in commercialization and marketing activities of JETREA beyond the U.S.
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On similar lines, Alimera initiated sales of ILLUVEN in the U.K. and Germany, in a bid to foray the European market. The initiative was primarily aimed at tapping new markets and boosting revenue generation of the company. A new report of Transparency Market Research has profiles key players making notable contribution to expansion of the global market for proliferative diabetic retinopathy, which include Pfizer, Inc., Genentech, Inc. (Roche Holdings), Merck KGaA, Allergan Plc, Santen Pharmaceutical Co., Ltd., Cipla, Ltd., Regeneron Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., Intas Pharmaceuticals Limited, and Novartis AG.
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