According to the new report from BCC Research, the global ophthalmic therapeutic drug market was valued at $12.3 billion in 2014. This market is expected to reach $19 billion by 2019, with a compound annual growth rate (CAGR) of 9.1% from 2014 to 2019.
Wellesley, Mass., (PRWEB) - Many leading agents in the ophthalmic therapeutic drug market are off-patent or face patent expiry in the next five years. In response, drug companies are developing new classes of drugs to protect their franchises and address areas of unmet clinic needs, BCC Research reveals in its new report.
Ophthalmic therapies treat a range of conditions including age macular degeneration (AMD), dry eye syndrome (DES), diabetic macular edema (DME), glaucoma and other ophthalmic diseases. In 2014, the ophthalmic pharmaceutical market totaled about $12.3 billion. The launch of new innovative mono and combination therapies and the emergence of biosimilars are driving market growth, which should grow at a five-year compound annual growth rate (CAGR) of 9.1% through 2019. During the forecast period, glaucoma and uveitis drug sales should grow significantly as new products and combination therapies emerge to treat areas of unmet clinical need.
Glaucoma therapeutics, one of the largest segments of the market, generated revenues of $4 billion in 2013. However, patent expiry of leading products, the emergence of cheaper generic and the gradual uptake of newer small molecules medicines will depress product currently approved glaucoma sales to about $2.8 billion in 2019. Monotherapies accounted for nearly 80% of revenues ($3.2 billion); the remainder was derived from various fixed combination therapies ($799 million).
A high unmet clinical need remains to develop safer, more efficacious treatments with patient-friendly formulations. To this end, companies have made significant investment in R&D, and many innovative small molecule and biological therapies are now progressing through late-stage clinical development that will help address these needs.
“Several targeted biological agents are now under development as well as monotherapy and combination therapy,” says BCC Research analyst C.L. Baron. “Biosimilars and biosuperior agents have begun to emerge, helping to reduce costs and increase drug accessibility. In addition, small molecule agents such as PARP Inhibitors are nearing the market and could help to move this field further forward.”
Ophthalmic Therapeutics Drugs: Technologies And Global Markets (PHM031D) analyzes the ophthalmic market by reviewing recent improvements in diagnosis and advances in product development, novel formulations and delivery devices, and clinical development of new drug classes that treat both the signs and symptoms of prevalent eye conditions. The launch of biosimilars and generics is also discussed.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at email@example.com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email firstname.lastname@example.org.
View original release here: http://www.prweb.com/releases/2015/08/prweb12883662.htm