Uveitis Treatment Market: Rising Incidence of Uveitis to Drive the Market 2024
Global Uveitis Treatment Market: Overview
Uveitis, an autoimmune eye disease, is considered rare for just around 38 in 100,000 people are afflicted by it. Because of this, it is often overlooked. Patients afflicted by uveitis are often referred to an expert after much delay on account of less awareness about the eye malady. This delays timely diagnosis and results in irreversible damage to various ocular structures.
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As per Cochrane, an international non-profit organization based in the U.K., uveitis is the fifth most common cause for loss of vision in advanced countries. It accounts for 5% to 20% of blindness, mostly in working-age people. In developed and underdeveloped countries, uveitis accounts for 2.4% to 24% of legal blindness.
The report on the global uveitis treatment market has been prepared after a meticulous study of the market, including its revenue and growth prospects. It presents valuable market insights through the use of analytical tools such as Porter’s Five Forces, which factors in supplier power, buyer power, competitive rivalry, threat of substitution, and threat of new entrants to uncover opportunities for new and existing players. The report also classifies the different types of uveitis and segments the market based on the medications available into corticosteroids, glucocorticoid steroids, ophthalmic steroids with anti-infectives, and antirheumatics. An in-depth picture of the market for each is presented.
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Global Uveitis Market: Trends and Opportunities
The prime driver in the market is the rising incidence of uveitis and the complications related to it. Besides, rising expenditure on the research and development of new drugs and treatments and the introduction of innovative biologics is fueling market growth. In fact, new treatment options for uveitis such as corticosteroids and anti-inflammatory drugs are already gaining traction in the market. Further, speedy approvals of drugs in the pipeline and new routes of drug administration that improves the efficacy of the drug are other factors providing fillip to the market.
While drivers are many for the market, there are a few restraints that might hamper the growth. Some of them are the steep prices of medications and side effects of the medication, such as watery eyes and irritation. In developing and underdeveloped nations, the lack of knowledge about eye disorders, shoddy primary healthcare infrastructure, and the lack of health insurance are also said to be hindering the market.
Based on the type of uveitis, the anterior uveitis market has outpaced others, with a more-than-healthy CAGR. Anterior uveitis involves the inflammation of the middle layer of the eye, which includes the iris and ciliary body. They can be acute or chronic in nature, and are caused mainly due to auto-immune disorders and bacterial, fungal, or viral infections.
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Global Uveitis Treatment Market: Region-wise Outlook:
North America has been the market leader in uveitis treatment, due to the early approval of pipeline drugs as compared to other regions. Other factors resulting in the growth of the regional market are the rising incidence of uveitis and related disorders, growing geriatric population, and increasing investments in research and development by drug manufacturing companies for innovating new treatments such as corticosteroids.
In Europe, the uveitis treatment market has been boosted by the growing occurrence of autoimmune disorders, namely AIDS and multiple sclerosis. Germany, in particular, has seen rapid growth on account of a growing number of elderly and the high incidence of eye disorders. The market in Asia is also expanding fast for the same reasons the markets in North America and Europe are expanding.
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Companies Mentioned in the Research Report:
Some of the top players operating within the global uveitis treatment market currently include Bausch & Lomb Inc., AbbVie Inc., Eyegate Pharmaceuticals Inc., Alimera Sciences Inc., Novartis AG, and Santen Pharmaceutical Co. Ltd.
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