PUBLISHER: The Business Research Company | PRODUCT CODE: 1643974
PUBLISHER: The Business Research Company | PRODUCT CODE: 1643974
Eylea, also known by its generic name aflibercept, is a medication primarily used for the treatment of several serious eye disorders. Developed as an anti-VEGF (vascular endothelial growth factor) injection, eylea is designed to inhibit abnormal blood vessel growth and leakage within the eye, a primary cause of vision impairment in conditions such as wet age-related macular degeneration (wet AMD) and diabetic retinopathy (DR).
The eylea market consists of sales, by entities (organizations, sole traders and partnerships) of eylea products that critical for patients at risk of severe visual impairment or blindness, especially those with progressive retinal disorders that might otherwise have few alternative treatment options.
The global eylea market was valued at $ 6,711.00 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 6.00%.
Increased Screen Time
During the historic period, increased screen time drove the growth of the eylea market. The prevalence of digital eye strain and associated disorders including diabetic retinopathy and age-related macular degeneration rose sharply as dependence on digital gadgets increased. Due to the increase in cases, people and healthcare professionals were more aware of the importance of timely treatments and routine eye exams. Thus, eylea emerged as a preferred treatment for various retinal disorders and medical practitioners aggressively promoted it as a cure for disorders associated with excessive screen time. For instance, according to DataReportal, a Singapore-based online reference library offering hundreds of free reports, global screen time averages 6 hours 40 minutes daily, with the US at 7 hours 3 minutes. American teens often exceed 8 hours daily, while 8-12-year-olds spend 5 hours and 33 minutes on entertainment screens. Child screen time in the US rose from 4 hours 44 minutes in 2019 to 5 hours 33 minutes in 2021. South Africans lead with 9 hours and 24 minutes daily, surpassing the global average by 2 hours and 44 minutes. These statistics highlight significant screen usage trends impacting consumer behavior and digital habits worldwide. Therefore, increased screen time positively impacted the growth of the eylea market.
Launch Of New Eylea Formulations To Enhance Treatment Options
Major companies in the eylea market are focusing on new product launches to expand the range of treatment options and meet the evolving needs of patients. By introducing formulations with improved dosing schedules, extended-release technologies or new indications, these launches enhance the versatility of eylea, attracting more patients and healthcare providers. These innovations not only help strengthen eylea's market position but also contribute to its continued growth by offering solutions that improve patient compliance and outcomes. For example, in January 2024, Bayer, a Germany-based pharmaceutical and biotechnology company, launched new eylea(TM) 8 mg (aflibercept 8 mg, 114.3 mg/ml solution for injection) for the treatment of two major retinal diseases, neovascular (wet) age-related macular degeneration (nAMD) and visual impairment due to diabetic macular edema (DME). The European Commission has granted marketing authorization in the European Union (EU) for new eylea(TM) 8 mg (aflibercept 8 mg). Eylea 8 mg is an important advancement in retinal care as it provides great and long-lasting control of the disease.
The global eylea market is highly concentrated, with large players operating in the market. The top competitors in the market made up to 100.0% of the total market in 2023.
Eylea Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global eylea market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for eylea? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The eylea market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider eylea market; and compares it with other markets.