Global Pars Planitis Treatment Market Achieves Significant Growth in 2022 and Forecasts Impressive CAGR

In 2022, the global Pars Planitis treatment market attained a valuation of US$ YY billion, with projections to reach US$ YY billion by 2030. The market is set to experience a robust Compound Annual Growth Rate (CAGR) of YY% during the forecast period spanning from 2023 to 2030.

The global Pars Planitis treatment market has undergone notable growth and transformations, driven by various factors shaping its dynamics. Pars Planitis, a persistent intermediate uveitis, is characterized by its lack of association with any systemic disease or infection. While patients with Pars Planitis rarely exhibit symptoms, they may report occurrences of floaters or impaired vision, usually without pain or photophobia.

Driving Forces and Constraints:

Enhanced Funding and Acquisitions: Developed economies have been witnessing a rapid upswing in healthcare sector advancements, driven by substantial investments, increasing income levels, and infrastructure development. Several countries have witnessed a considerable demand for Pars Planitis treatment due to escalating research activities. Collaborations, acquisitions, and product launches supported by technological advancements among different countries will play a pivotal role in propelling market growth.

As a prime example, on July 3, 2023, Biocon Biologics successfully acquired the global biosimilars business of Viatris, which holds numerous biosimilar licenses in the United States, Europe, and over 100 other nations. This acquisition empowers Biocon Biologics to provide patients and medical professionals with more accessible and affordable treatment options, enhancing the availability of biosimilars in the market. Notably, Biocon Biologics has made HULIO (adalimumab-fkjp), a biosimilar to Humira (adalimumab), available to patients in the United States after extensive use in Europe and Canada.

Additionally, the growing utilization of cutting-edge technology, coupled with high levels of research for various developmental purposes, is a significant driver. The rising cases of Pars Planitis and the increasing focus on innovative treatment development will be key factors driving market growth.

Consideration of Side Effects: Regardless of the treatment method used for Pars Planitis, patients may face an increased risk of developing multiple sclerosis, particularly when anti-TNF drugs are administered, which may predispose individuals to demyelination. Therefore, the utmost caution is advised, and a risk-benefit evaluation is essential before administering anti-TNF drugs to patients with Pars Planitis.

Interferon has also been effectively employed in the treatment of Pars Planitis, although it may have side effects like depression and suicidal thoughts. The most commonly administered steroids for Pars Planitis treatment may result in side effects such as cataracts and glaucoma.

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Segment Analysis:
The global Pars Planitis treatment market is categorized into drugs, route of administration, distribution channels, and regions. Notably, the Corticosteroids segment claims a substantial market share of approximately 37%.
Prednisolone sodium phosphate or acetate topical treatments, each comprising 1%, along with oral prednisone, are beneficial treatment options. In addition to oral administration, periocular injections of corticosteroids prove to be advantageous. Treatment alternatives may also encompass intravitreal injections of triamcinolone acetonide.
Steroid medications, predominantly prednisolone, are widely used to treat the majority of intermediate uveitis cases. Steroids function by interfering with the immune system's regular operation, halting the secretion of substances that induce inflammation.

A significant development to note is the U.S. Food and Drug Administration's final approval of Aurobindo Pharma Limited's Abbreviated New Drug Application for Prednisone Tablets USP, 1mg, on November 17, 2021. These tablets serve as a reference-listed drug (RLD), identical to Meticorten Tablets from Schering Corp Sub Schering Plough Corp.

Geographical Penetration:
In 2022, North America accounted for approximately 36% of the market share. Manufacturers in North America hold promising opportunities for expanding their operations due to the growing demand for Pars Planitis treatment in the healthcare sector.
The region boasts numerous producers and suppliers, and its rapid economic growth has spurred the expansion of industrial production, consequently driving the demand for Pars Planitis treatment. Additionally, the increasing healthcare expenditures, mounting research endeavors, technological advancements, and the establishment of biopharmaceutical and biotechnology businesses have all contributed to the region's market share.

North America, with the United States in the lead, continues to be a key player in the global Pars Planitis treatment market. Government initiatives supporting infrastructure development, investments, and a focus on progressive advancements have stimulated demand for Pars Planitis treatment in the U.S., with various initiatives and research activities already in motion.

COVID-19 Impact Analysis:
The COVID-19 pandemic, which emerged in late 2019, presented unprecedented challenges to industries across the globe, including the global Pars Planitis treatment market. With countries grappling with lockdowns, disruptions in the supply chain, and reduced economic activity, the pharmaceutical sector, a significant consumer of various medicines, bore the brunt of the impact.

Major medical and pharmaceutical industries temporarily diverted their focus toward managing the pandemic, leading to a dip in the demand for Pars Planitis treatment. Currently, numerous research studies have resumed, and companies have reinitiated trials to gauge the effectiveness of their products. Overall, the pandemic's impact on the global Pars Planitis treatment market is expected to be relatively moderate, with the market poised to maintain steady growth due to the continued demand and research into innovative treatment options.

Key Developments:
On March 21, 2023, the U.S. Food and Drug Administration (FDA) approved a citrate-free, high-concentration formulation (HCF) of Sandoz's biosimilar Hyrimoz (adalimumab-adaz) injection. This is a significant milestone in providing treatment for conditions like rheumatoid arthritis, psoriatic arthritis, juvenile idiopathic arthritis, and others.
On March 25, 2021, Omeprazole Prolonged Release Capsules, 20mg, a generic version of Prilosec, was launched, catering to the treatment of gastroesophageal reflux disease (GERD), duodenal and gastric ulcers, and erosive esophagitis.

Competitive Landscape:

Key global players in the market include Teva Pharmaceutical Industries Ltd., AbbVie Inc. (Allergan), Aurobindo Pharma USA, Pfizer Inc., Genentech, Inc., Novartis

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