Entry of a range of new companies is set to double the growth of the ophthalmological disorders market from $13.7bn in 2015 to $26bn by 2022, according to a report from GBI Research.
Titled 'Global Ophthalmology Drugs Market to 2022 –Angiogenesis Modulators and Gene Therapies to Boost Overall Revenue within the Forecast Period', the report forecasts the ophthalmological disorders market to grow at a compound annual growth rate (CAGR) of 9.48% over the forecast period.
The ophthalmology treatment area includes glaucoma, age-related macular degeneration, diabetic macular oedema, diabetic retinopathy, and dry eye syndrome. Patent expiries and new products in the treatment area are expected to boost the position of new smaller, specialised companies.
Four companies, namely Ophthotech, Spark Therapeutics, Aerie Pharmaceuticals, and Eleven Biotherapies are expected to become key players in the segment, opines GBI Research associate analyst Qaisrah Khalid. Existing major companies such as Bayer and Novartis, however, are expected to retain their positions.
Among new entrants, Ophthotech is expected to overtake Roche by 2022 in terms of total revenue generated.
Ophthotech’s Fovista drug is expected to be approved in 2017 and will be the major driving force for this growth.
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Ophthotech acquired Fovista through a licensing agreement with Novartis. The drug is expected to achieve blockbuster status within three years, generating a total revenue of $120m with sales expected to grow at a CAGR of 52.44% between 2017 and 2022. The launch of Fovista will have a major impact on existing drugs such as Santen’s Cosopt / Trusopt, whose revenues have suffered due to competition from generics.
Other late-stage development products in the market, apart from Fovista, include SPK-RPE65, lampalizumab and Rhopressa. Introduction of these products is expected to offset the impact of patent expiry of existing drugs including Lucentis, Eylea, and Alphagan in the ophthalmology market, adds the report.