by EYLEA (aflibercept) injection for intravitreal use is a vascular endothelial growth factor (VEGF) inhibitor used for the treatment of wet age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME), and diabetic retinopathy (DR). EYLEA works by blocking new blood vessel formation and leakage in the eye. The global EYLEA drug market is witnessing significant growth owing to the increasing prevalence of retinal disorders like wet AMD, DME, RVO etc. According to the Bright focus Foundation, It is estimated that over 11 million Americans have AMD through age 80 and this figure is expected to double by 2050. Also, the prevalence of DME is rising rapidly owing to the increased number of diabetes patients worldwide.
The global EYLEA Drug Market was valued at US$ 8.79 in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Market Dynamics
Rising prevalence of retinal disorders like AMD, DME, and RVO along with growing geriatric population are the major drivers of global EYLEA drug market growth over the forecast period. According to the WHO, the global geriatric population is expected to reach 2 billion by 2050 from 700 million in 2018, all of which are susceptible to retinal diseases. Also, the increasing awareness regarding retinal disorders and treatment options available are encouraging more patients to opt for EYLEA which further propels the market growth. EYLEA also faces minimal competition owing to high efficacy and safety profile established through clinical studies. However, high cost associated with EYLEA injections and availability of alternative treatment options can hamper the market growth to some extent over the forecast period.
Segment Analysis
The global EYLEA drug market is dominated by the age-related macular degeneration sub segment which accounts for over 60% share of the market. EYLEA is primarily used for treating wet age-related macular degeneration which is the leading cause of blindness in developed countries. Wet AMD accounts for approximately 10-15% of all AMD cases but cause around 90% of severe vision loss from the disease. Due to the large patient pool and high treatment cost of EYLEA, the wet AMD sub segment experiences higher demand and revenue generation compared to other disease segments in the EYLEA drug market.
Pest Analysis
Political: The healthcare industry witnesses strong government support and regulations related to drug approval and accessibility in major markets. However, pricing pressures can impact revenue streams.
Economic: As an age-related eye disease, the economic burden of AMD treatment is significant. High drug costs of therapies like EYLEA pose affordability challenges. Overall economic growth influences healthcare spending.
Social: As life expectancy rises globally, the elderly population vulnerable to AMD is expanding rapidly. Greater disease awareness and focus on eye care boosts diagnosis and treatment rates.
Technological: Advancements in drug delivery systems, genetic research and diagnostics help improve treatment outcomes. Innovations can lead to newer drug variants entering the market.
Key Takeaways
The Global EYLEA Drug Market Size is expected to witness high growth over the forecast period supported by an aging global population vulnerable to AMD. The global EYLEA drug market was valued at US$ 8.79 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030.
Regionally, North America holds the dominant share currently owing to robust healthcare infrastructure and reimbursement mechanisms. However, Asia Pacific is anticipated to emerge as the fastest growing regional market aided by economic development, healthcare investments and increasing geriatric population in countries such as Japan, China and India.
Key Players operating in the EYLEA drug market are Bayer, Regeneron Pharmaceuticals, Coherus BioSciences, Inc., and Klinge Biopharma. Regeneron Pharmaceuticals holds a leading market position as the developer and original manufacturer of EYLEA. While generic competition is expected post patent expiry, collaborations for biosimilars and innovations in portfolio expansion can help maintain premium positioning for key players.
Reasons to Purchase Global EYLEA Drug Market Report:
1. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.
3. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Global EYLEA Drug Market .
FAQ’s
Q.1 What will the market development pace of the Global EYLEA Drug Market?
Q.2 What are the sales, revenue, and price analysis of the top players of the Global EYLEA Drug Market?
Q.3 What are the market opportunities and threats faced by the vendors in the Global EYLEA Drug Market?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
