Global Intravitreal (IVT) Injectables Market: Overview

Intravitreal (IVT) injectables are used for the administration of medications to patients suffering from retinal disorders. Drugs are administered in the form of injections directly into the vitreous cavity of the eye, which is filled with vitreous humor gel. The procedure for injecting drugs is performed by a skilled ophthalmologist in the outpatient or office setting. Antivascular endothelial growth factor (anti-VEGF) drugs, antibiotics, steroids, antifungals, and antivirals are commonly used drugs for retinal conditions. Eylea, lucentis, and macugen are some of the common IVT injectables available in the market for the treatment of ocular diseases.

Global Intravitreal (IVT) Injectables Market: Key Trends

Increase in the prevalence of retinal disorders such as age-related macular degeneration, retinal vein occlusions, and diabetic retinopathy across the globe are major factors driving the global intravitreal (IVT) injectables market. According to the National Eye Institute (NEI), approximately 2.0 million people in the U.S. were affected with AMD in 2010, and the number is expected to more than double to reach an estimated 5.4 million by 2050. Furthermore, favorable regulatory guidelines for the design and manufacture of intravitreal (IVT) injectables for patient safety are projected to boost the growth of the market during the forecast period. Manufacturers are developing intravitreal (IVT) injectables that are compatible with these regulatory guidelines. Moreover, an increase in focus of industry players on innovation with a strong pipeline of IVT injections for the treatment of retinal conditions is projected to propel global market over the next few years. However, the need for frequent intravitreal injections and risks or complications associated with injectables, including infection and inflammation in the eye, retinal detachment, and vitreous hemorrhage, are anticipated to restrain the global market in the future.

Global Intravitreal (IVT) Injectables Market: Segmentation

The global intravitreal (IVT) injectables market can be segmented based on drug class, application, distribution channel, and region. In terms of drug class, the market can be classified into anti-VEGF, antibiotics, corticosteroids, antifungals, and antivirals. The anti-VEGF segment held a prominent share of the global intravitreal injectables market in 2018. These drugs have the ability to bind to growth factors and suppress the formation of irregular blood vessels in ocular diseases. Moreover, anti-VEGF drugs help minimize fluid leakage associated with these disorders, thereby generating high demand from ophthalmologists. Based on application, the global intravitreal (IVT) injectables market can be categorized into age-related macular degeneration (AMD), endophthalmitis, diabetic retinopathy, retinal vein occlusions, and others. In terms of distribution channel, the market can be segmented into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment held a prominent market share in 2018. It is anticipated to continue to dominate the market during the forecast period.

Global Intravitreal (IVT) Injectables Market: Regional Analysis

In terms of region, the global intravitreal (IVT) injectables market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to account for a prominent share of the global market between 2019 and 2027. A rise in the prevalence of age-related macular degeneration (AMD) is anticipated to drive demand for intravitreal (IVT) injectables in the U.S. Moreover, an intravitreal injection is the most common ophthalmic procedure performed in the country, owing to a favorable reimbursement scenario, which, in turn, is expected to boost market growth in the future. Increase in the geriatric population and rise in the burden of retinal diseases are anticipated to propel demand for intravitreal (IVT) injectables in Europe. Presence of a signficant patient pool suffering from diabetes mellitus in emerging countries such as India and China is a major risk factor for the development of diabetic retinopathy. This is expected to drive demand for intravitreal (IVT) injectables market in Asia Pacific in the coming years.

Global Intravitreal (IVT) Injectables Market: Competitive Landscape

Key players operating in the global intravitreal (IVT) injectables market are Alcon Pharmaceuticals, Novartis, Regeneron Pharmaceuticals Inc., Allergan, Alimera Sciences, Bristol Myers Squibb, Bausch & Lomb, F. Hoffmann-La Roche, Thrombogenics and Valeant Pharmaceuticals International. These players have adopted organic and inorganic growth strategies to expand product portfolio and geographic reach.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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