New York, April 28, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Persistence Market Research "Global Market Study on Uveitis Treatment: Asia to Witness fastest Growth by 2020," the global uveitis treatment market was valued at USD 539.0 million in 2014 and is expected to expand at a CAGR of 7.3% from 2014 to 2020, to reach USD 822.5 million by 2020.
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Globally, the uveitis treatment market is witnessing significant growth due to increasing prevalence of uveitis and related complications, and increasing aging population. Moreover, increasing R&D investments in drug discovery and development, and growing government initiatives to reduce eye are also driving the growth of the market. However, lack of awareness about eye disorders, poor primary healthcare infrastructure, and lack of health insurance in developing countries are inhibiting the growth of the uveitis treatment market. The global uveitis treatment market is anticipated to grow from an estimated USD 539.0 million in 2014 to USD 822.5 million by 2020 at a CAGR of 7.3% during the forecast period.
In North America, rising incidence of uveitis and related disorders, increasing aging population, and growing R&D investments by drug manufacturing companies for the development of innovative products to treat the disease in the region are driving the uveitis treatment options such as corticosteroids in the market. For instance, in North America, approximately 500,000 people are affected by uveitis every year; out of these, approximately 50,000 new blind cases occur due to uveitis, which accounts for approximately 10% of the overall blind cases in the region.
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In Europe, the uveitis treatment market is driven by rising number of autoimmune disorders such as AIDS and multiple sclerosis. Moreover, in Germany, the market is evolving due to rising aging population and increasing the prevalence of eye disorders. However, in Asia, the growth for uveitis treatment is higher than that in developed regions, due to increasing prevalence of uveitis and growing aging population.
pSivida Corp., XOMA Corporation, Alcon, Inc., Allergan, Inc., AbbVie Inc., Enzo Biochem Inc., OphthaliX Inc., Bausch & Lomb Incorporated, Regeneron Pharmaceuticals, Inc, and Santen Pharmaceutical Co., Ltd. are some of the major players in the uveitis treatment market.
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The uveitis treatment market is segmented as follows:
- Anterior uveitis
- Posterior uveitis
- Intermediate uveitis
- Anti-inflammatory medications
- Antibiotic/Antiviral medications
- Immunosuppressive medications
- North America
- Rest of the World (RoW)
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws on its multi-disciplinary capabilities and a high pedigree team of analysts to share data that precisely corresponds to clients' business needs.
Source:Persistence Market Research