Drug Companies Expand R&D Efforts to Counter Looming Patent Expiries in Ophthalmic Market, According to BCC Research
August 03, 2015
Wellesley, Mass., Aug 03, 2015 – 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 steven.cumming@bccresearch.com.
Ophthalmic Therapeutic Drugs: Technologies and Global Markets( PHM031D )
Publish Date: Jul 2015
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email press@bccresearch.com or visit www.bccresearch.com/media to request access to our library of market research.
BCC Library Membership Benefits
Unlimited Access to Market Research Reports for Academic Institutions and Corporations.
Custom Research
Tailored solutions across industries for your unique business needs.
More in Pharmaceuticals
- Cancer Therapeutics Market Forecast to Reach $168 Billion by 2029, Highlighting Recurrent and Metastatic Innovations
- Global Cancer Immunotherapy Market Projected to Reach $247 Billion by 2029, Driven by 11.4% CAGR
- Liver Disease Treatments: Global Market Forecast and Emerging Trends Through 2030
- Radiopharmaceuticals Market Set to Grow with 16.4% CAGR from 2024 to 2029
- Nanotechnology in Cancer Treatment Market Positioned for Transformational Growth by 2029
Reports from Pharmaceuticals
- Global Markets for Infectious Disease Treatments
- Disease-Modifying Therapies for Alzheimer’s Disease: Global Markets
- Global Markets for Allergy Diagnostics and Treatments
- Over-the-Counter (OTC) Drugs, and Vitamins & Dietary Supplements: Global Markets
- Global Pharmaceutical Drugs Industry: Competitive Landscape 2023
Recent News
- BCC Research Presents 2024 Diagnostics Research Review: Market Growth and Innovations
- Global Market for Emerging Medical Device Technologies to Hit $223.9 Billion by 2029
- CAR T-Cell Therapy Market to Surge at 40.2% CAGR Over the Next Five Years
- BCC Research Releases 2024 Protein Synthesis Research Review
- Global Industrial Enzyme Markets: Innovation, Impact, and Growth