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Key Influencer in the Beovu (Brolucizumab) Market 2025: Rising Prevalence Of Age-Related Macular Degeneration To Drive Brolucizumab Market Growth Driver
Beovu (Brolucizumab) Market Size
In recent times, the market size for Beovu (brolucizumab) has observed an $XX. The expected growth is from $XX million in 2024 to $XX million in 2025, marking a Compound Annual Growth Rate (CAGR) of $XX%. Several factors have been instrumental in this historical period growth such as an increase in cases of age-related macular degeneration (AMD), raised healthcare expenses, awareness initiatives towards AMD management, support from government bodies for innovative remedial techniques, and an upward trend in the utilization of precision imaging technologies.
Expectations have been set for the Beovu (brolucizumab) market size to observe an $XX increase in the years to come, with predictions estimating a growth to $XX million by 2029, reflecting a compound annual growth rate (CAGR) of $XX%. This projected expansion during the forecast period is linked to several factors including a rising global aging population, an uptick in demand for precision biologics, advancements in healthcare infrastructures, beneficial reimbursement strategies for AMD treatments, and a mounting focus on personalized health care. The upcoming period will likely see major developments such as an inclination towards the development of biosimilars, a boost in the use of telemedicine for AMD treatment, the adoption of AI-powered diagnostic tools, a focus on sustainability within drug production, alliances between biotech organizations and tech corporations, along with product innovations.
What Key Elements Are Boosting Growth in the Beovu (Brolucizumab) Market?
The increasing incidence of age-related macular degeneration (AMD), a progressive eye disease causing central vision loss mostly in elderly individuals, is projected to bolster the growth of the beovu (brolucizumab) market. Factors such as improved life expectancy, reduced birth rates, and advancements in healthcare are contributing to the expansion of the aging population. Beovu (brolucizumab) is a medication used in AMD treatment, which works to minimize vision loss by suppressing vascular endothelial growth factor (VEGF) thereby promoting retinal health. As of March 2023, a report by the US-based nonprofit, BrightFocus Foundation, estimated that around 200 million people worldwide were affected by AMD, a number forecasted to escalate to 288 million by 2040. Consequently, the growing incidence of AMD is expected to stimulate the growth of the beovu (brolucizumab) market.
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Who Are the Major Industry Players Fueling Beovu (Brolucizumab) Market Expansion?
Major companies operating in the beovu (brolucizumab) market include Novartis AG
What Are the Major Trends Shaping the Beovu (Brolucizumab) Market?
A significant trend in the beovu (brolucizumab) market revolves around creating groundbreaking solutions to broaden the array of treatment options and market accessibility. Firms are dynamically striving to obtain approvals for added indications like diabetic macular edema (DME) thus amplify the drug's therapeutic efficacy. Beovu, a drug utilised for treating retinal afflictions such as wet age-related macular degeneration (AMD) and DME, functions by stymieing VEGF-A, restricting abnormal blood vessel development and averting vision loss. For instance, Novartis AG, a pharmaceutical company based in Switzerland, in March 2022, revealed that the European Commission (EC) endorsed Beovu (brolucizumab) 6 mg for handling visual impairment arising from diabetic macular edema (DME). This endorsement denotes Beovu's successive indication by the EC, succeeding its original approval in 2020 for treating wet age-related macular degeneration. The verdict of the EC is applicable to all the 27 European Union member nations, in addition to Iceland, Norway, and Liechtenstein.
How Is the Segmentation of the Beovu (Brolucizumab) Market Defined?
The beovu (brolucizumab) market covered in this report is segmented -
1) By Indication: Neovascular (Wet) Age-Related Macular Degeneration (AMD), Diabetic Macular Edema (DME), Other Retinal Disorders
2) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
3) By End User: Specialty Clinics, Ambulatory Surgical Centers
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What Is the Leading Region in the Beovu (Brolucizumab) Market?
North America was the largest region in the beovu (brolucizumab) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the beovu (brolucizumab) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is Covered In The Beovu (Brolucizumab) Global Market Report?
- Market Size Analysis: Analyze the beovu (brolucizumab) Market Size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the beovu (brolucizumab) market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall beovu (brolucizumab) market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the beovu (brolucizumab) market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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