Press release
Age-related Vision Dysfunction Drugs Market Size, Share, and Outlook (2024-2031)
DataM Intelligence
Global Age-Related Vision Dysfunction Drugs Market Expected to Reach US$ YY Million by 2030
The Global age-related vision dysfunction drugs market has seen significant growth, reaching US$ YY million in 2022 and is projected to expand to US$ YY million by 2030. This growth trajectory reflects a steady Compound Annual Growth Rate (CAGR) of YY% during the forecast period spanning from 2024 to 2031.
Age-related vision dysfunctions encompass a range of conditions such as presbyopia, cataracts, age-related macular degeneration, glaucoma, diabetic retinopathy, and dry eye syndrome, among others. Addressing the characteristics and symptoms of these conditions often necessitates specific pharmacological interventions.
Pharmacological options for managing age-related vision dysfunctions vary, including Anti-VEGF drugs targeting abnormal blood vessel growth, prostaglandin analogs for reducing intraocular pressure, beta-blockers, alpha agonists, and carbonic anhydrase inhibitors. Additionally, lubricating eye drops, commonly known as artificial tears, play a crucial role in alleviating dry eye symptoms associated with these conditions, aiming to enhance visual comfort and preserve eye health.
Market Scope
CAGR: YY%
Market Size: 2021-2030
Forecast Period: 2024-2031
Revenue Units: Value (US$ Mn)
Segments Covered: Dysfunction Type, Drug Class, Distribution Channel
Regions Covered: North America, Europe, Asia-Pacific, South America, Middle East & Africa
Largest Region: North America
Fastest Growing Region: Asia-Pacific
Report Insights: Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter's Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other Key Insights.
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Market Dynamics: Drivers and Restraints
Collaborations among market players for age-related vision drugs are anticipated to drive market growth. Recent collaborations between prominent companies such as Caeregen Therapeutics and Wacker Biotech, EyePoint Pharmaceuticals and Rallybio Corporation, and Théa Open Innovation and Galimedix Therapeutics showcase the industry's commitment to innovation and development of new therapeutic solutions.
Despite growth prospects, factors such as high development costs, safety concerns, and generic competition may restrain market expansion over the forecast period.
Segment Analysis
The global market is segmented based on dysfunction type, drug class, distribution channel, and region. Presbyopia, a common condition affecting individuals as they age, constitutes a significant portion of the market share, driven by factors such as the rising geriatric population and increasing clinical trials and FDA approvals.
Geographical Analysis
North America remains a dominant player in the market, fueled by increasing FDA approvals and prevalence of vision loss. Recent approvals such as IZERVAY by Astellas Pharma Inc. and Vabysmo by Genentech underscore the region's commitment to advancing treatment options for age-related vision dysfunctions.
COVID-19 Impact Analysis
The COVID-19 pandemic has moderately impacted the market, leading to disruptions in healthcare services and delaying diagnoses and treatments for age-related vision dysfunctions. However, efforts to mitigate these effects are underway, with the industry adapting to the evolving healthcare landscape.
Competitive Landscape
Key players in the market include Genentech, Inc., Regeneron Pharmaceuticals Inc., Bayer AG, Allergan Inc., Viatris Inc., Novartis AG, Pfizer Inc., Merck & Co., Inc., Bausch & Lomb Incorporated, and Eyenovia, Inc., among others.
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