Global Intravitreal (IVT) Injectables Market: Overview
Intravitreal (IVT) injectables are used
for the administration of medications to patients suffering from retinal
disorders. Drugs are administered in the form of injections directly
into the vitreous cavity of the eye, which is filled with vitreous humor
gel. The procedure for injecting drugs is performed by a skilled
ophthalmologist in the outpatient or office setting. Antivascular
endothelial growth factor (anti-VEGF) drugs, antibiotics, steroids,
antifungals, and antivirals are commonly used drugs for retinal
conditions. Eylea, lucentis, and macugen are some of the common IVT
injectables available in the market for the treatment of ocular
diseases.
Increase in the prevalence of retinal
disorders such as age-related macular degeneration, retinal vein
occlusions, and diabetic retinopathy across the globe are major factors
driving the global intravitreal (IVT) injectables market. According to
the National Eye Institute (NEI), approximately 2.0 million people in
the U.S. were affected with AMD in 2010, and the number is expected to
more than double to reach an estimated 5.4 million by 2050. Furthermore,
favorable regulatory guidelines for the design and manufacture of
intravitreal (IVT) injectables for patient safety are projected to boost
the growth of the market during the forecast period. Manufacturers are
developing intravitreal (IVT) injectables that are compatible with these
regulatory guidelines. Moreover, an increase in focus of industry
players on innovation with a strong pipeline of IVT injections for the
treatment of retinal conditions is projected to propel global market
over the next few years. However, the need for frequent intravitreal
injections and risks or complications associated with injectables,
including infection and inflammation in the eye, retinal detachment, and
vitreous hemorrhage, are anticipated to restrain the global market in
the future.
The global intravitreal (IVT) injectables
market can be segmented based on drug class, application, distribution
channel, and region. In terms of drug class, the market can be
classified into anti-VEGF, antibiotics, corticosteroids, antifungals,
and antivirals. The anti-VEGF segment held a prominent share of the
global intravitreal injectables market in 2018. These drugs have the
ability to bind to growth factors and suppress the formation of
irregular blood vessels in ocular diseases. Moreover, anti-VEGF drugs
help minimize fluid leakage associated with these disorders, thereby
generating high demand from ophthalmologists. Based on application, the
global intravitreal (IVT) injectables market can be categorized into
age-related macular degeneration (AMD), endophthalmitis, diabetic
retinopathy, retinal vein occlusions, and others. In terms of
distribution channel, the market can be segmented into hospital
pharmacies, retail pharmacies, and online pharmacies. The hospital
pharmacies segment held a prominent market share in 2018. It is
anticipated to continue to dominate the market during the forecast
period.
Global Intravitreal (IVT) Injectables Market: Regional Analysis
In terms of region, the global
intravitreal (IVT) injectables market can be segmented into North
America, Europe, Asia Pacific, Latin America, and Middle East &
Africa. North America is projected to account for a prominent share of
the global market between 2019 and 2027. A rise in the prevalence of
age-related macular degeneration (AMD) is anticipated to drive demand
for intravitreal (IVT) injectables in the U.S. Moreover, an intravitreal
injection is the most common ophthalmic procedure performed in the
country, owing to a favorable reimbursement scenario, which, in turn, is
expected to boost market growth in the future. Increase in the
geriatric population and rise in the burden of retinal diseases are
anticipated to propel demand for intravitreal (IVT) injectables in
Europe. Presence of a signficant patient pool suffering from diabetes
mellitus in emerging countries such as India and China is a major risk
factor for the development of diabetic retinopathy. This is expected to
drive demand for intravitreal (IVT) injectables market in Asia Pacific
in the coming years.
Key players operating in the global
intravitreal (IVT) injectables market are Alcon Pharmaceuticals,
Novartis, Regeneron Pharmaceuticals Inc., Allergan, Alimera Sciences,
Bristol Myers Squibb, Bausch & Lomb, F. Hoffmann-La Roche,
Thrombogenics and Valeant Pharmaceuticals International. These players
have adopted organic and inorganic growth strategies to expand product
portfolio and geographic reach.
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