The global EYLEA drug market comprises anti-VEGF drugs that are used for the treatment of various eye diseases such as age-related macular degeneration, diabetic retinopathy, and macular edema. EYLEA (aflibercept) is a recombinant fusion protein VEGF trap that inhibits VEGF-A and placental growth factor (PGF) which are the main drivers of neovascularization and vascular permeability. EYLEA is administrated via intravitreal injections and is very effective in improving vision outcomes.
The Global EYLEA Drug Market Size is estimated to be valued at US$ 8.79 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the global EYLEA drug market are Bayer, Regeneron Pharmaceuticals, Coherus BioSciences, Inc., and Klinge Biopharma. Bayer and Regeneron Pharmaceuticals currently dominate the market. Regeneron Pharmaceuticals invented EYLEA and has an exclusive license to develop, manufacture and commercialize the drug.
The global EYLEA drug market is driven by the increasing prevalence of eye diseases such as age-related macular degeneration and diabetic retinopathy. According to estimates, over 200 million people suffer from vision impairment caused by eye diseases globally. EYLEA offers significantly good recovery rates in these diseases and thus demand is rising.
Technological advancements are also fueling market growth. Companies are focusing on developing more effective and long-lasting drug delivery technologies such as implantable devices to reduce frequent intravitreal injections. Sustained release formulations are also being researched to provide therapeutic drug levels for longer durations.
Market Trends
Increasing generic competition - Coherus Biosciences and Novartis have launched affordable biosimilar versions of EYLEA, Avastin, which is eating into the sales of original drugmakers.
Biosimilar drug approvals in key markets like US and Europe are further expected to intensify competition.
Growing demand in Asian countries - Countries like India, China and Japan have a huge population suffering from eye diseases. With better access to treatments, demand from Asia Pacific is rising significantly which drug makers are targeting.
Market Opportunities
Emerging economies - There is immense potential for growth in developing nations of Asia Pacific and Latin America due to large population and improving access to healthcare. In countries like India, China awareness programs can boost EYLEA adoption.
Combination therapies - Companies are exploring opportunities for EYLEA use in combination with other drugs or devices for synergistic effects in treatment of complex eye conditions. Successful combination therapies will drive new growth.
Impact of COVID-19 on Global EYLEA Drug Market Growth
The COVID-19 pandemic has adversely impacted the growth of the global EYLEA drug market. During the initial outbreak in early 2020, stringent lockdowns enforced by various governments around the world hindered patient access to diagnostic centers and ophthalmology clinics. With movement restrictions in place and people hesitant to visit hospitals due to infection risk, the number of referrals to ophthalmologists went down significantly. This posed challenges for timely diagnosis and treatment of diseases like wet age-related macular degeneration and diabetic macular edema that are treated using EYLEA. Telemedicine emerged as an alternate solution but accessibility issues in some regions limited its scope. Supply chain disruptions also affected drug production and distribution channels temporarily.
However, as lockdowns eased from mid-2020, the global EYLEA drug market started showing signs of recovery. With healthcare facilities implementing strict safety protocols and prioritizing chronic illness care, patient visits normalized. Fast-track approval of COVID-19 vaccines since late-2020 and the ensuing mass vaccination programs have boosted overall confidence levels. While the risk of virus transmission remains, its impact on the market has reduced noticeably. Pharmaceutical companies are now better equipped to deal with emergencies through diversified manufacturing networks and optimized inventory management. Telehealth is also complementing conventional care delivery models. The market is projected to steadily regain pre-pandemic growth momentum in the forecast period on the back of these factors.
Fastest Growing Region for Global EYLEA Drug Market
Asia Pacific region is poised to witness the fastest growth in the global EYLEA drug market during 2024-2031. Rising geriatric population susceptible to eye diseases, growing expenditure on healthcare, and increasing focus on quality care standards are some key factors fueling market expansion in Asia Pacific. Countries like China, India, Japan and South Korea are major revenue generators owing to their huge patient pools and improving access to modern ophthalmology treatments. At the same time, lack of awareness, treatment affordability issues and shortage of ophthalmologists in some emerging nations present lucrative opportunities for market players to penetrate new markets. With economic stability returning post-pandemic, the Asia Pacific EYLEA drug market is well-positioned to attract further investments and sustain high double-digit growth over the forecast period.
What Are The Key Data Covered In This Global EYLEA Drug Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global EYLEA Drug Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global EYLEA Drug Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global EYLEA Drug Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global EYLEA Drug Market vendors
FAQ’S
Q.1 What are the main factors influencing the Global EYLEA Drug market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global EYLEA Drug Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global EYLEA Drug market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
Get more insights on this topic: https://www.pressreleasebulletin.com/global-eylea-drug-market-trend-size-and-demand-2/
