Persistence Market Research predicts a positive growth outlook for the global uveitis treatment market, influenced by several growth drivers, restraints, trends, and opportunities.
New York, NY -- (SBWIRE) -- 09/21/2017 -- 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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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.
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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.
North America, the largest and fastest growing regional market for uveitis treatment globally, will retain its dominant position over the assessed period. With over 34% market value share in 2024, this regional will possibly account for around US$ 290 Mn. Europe will remain the second key market with nearly 27% share by the end of forecast period, followed by Asia Pacific.
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The report profiles key market players and highlights their recent activities supporting market growth.
Allergan, Inc., Novartis AG (ALCON), Valeant Pharmaceuticals International, Inc., AbbVie Inc., Eyegate Pharmaceuticals, Inc., Alimera Sciences Inc., and pSivida Corp. are some of the key players in the global uveitis treatment market.
Among these, Allergan, Valeant, and Novartis constitute the most prominent companies. Eyegate is also actively involved through strategic acquisitions.
Allergan, in 2016, acquired a gene therapy company RetroSense Therapeutics to enhance the company's eye care product pipeline. Later, the same year, Allergan launched an influential uveitis drug Taytulla.
Novartis recently acquired Encore Vision, Inc. in 2016, to strengthen its ophthalmology pipeline.
Recently in 2015, Eyegate signed a licensing agreement with Valeant for an effective combination product against uveitis. More recently in 2016, the company announced the acquisition of Jade Therapeutics, Inc. and stepped into treatment for poorly-served ophthalmic indications.
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About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries.