by The global EYLEA drug market is steadily growing owing to the increasing prevalence of retinal disorders such as age-related macular degeneration (AMD), diabetic retinopathy and macular edema following retinal vein occlusion. EYLEA, developed by Regeneron Pharmaceuticals, is a vascular endothelial growth factor (VEGF) inhibitor used in the treatment of wet age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema and diabetic retinopathy. Wet AMD is the leading cause of blindness among people aged 60 and older in developed countries. Likewise, diabetes is associated with damage to small blood vessels in the retina leading to diabetic retinopathy and macular edema. Hence, the need for effective treatment options for these life-altering conditions is driving the demand for EYLEA injections.
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, as highlighted in a new report published by CoherentMI.
Market Key Trends:
One of the key trends in the EYLEA drug market is its strong growth in emerging markets. Companies such as Regeneron Pharmaceuticals and Bayer are focusing on expanding their reach in markets such as China, India, Brazil and countries in Southeast Asia. This is due to increasing awareness regarding eye diseases and rising healthcare expenditure in these countries. Furthermore, presence of large diabetic patient pools in emerging regions also presents lucrative opportunities. In order to leverage this potential, companies are adopting strategies involving partnerships, licensing agreements and joint ventures with regional pharmaceutical firms. This allow them to effectively commercialize EYLEA and other anti-VEGF therapies. Growing burden of diabetes and increasing life expectancy are expanding the target population base of EYLEA worldwide thereby driving its market growth over the forecast period.
Porter’s Analysis
Threat of New Entrants: Low. Significant capital is required and presence of major players make market entry difficult.
Bargaining Power of Buyers: Moderate. Few alternatives are available and switching costs are low. However, patents provide protection to vendors.
Bargaining Power of Suppliers: Low. Few raw material suppliers and vendors can source from multiple suppliers.
Threat of New Substitutes: High. Emergence of biosimilars and cost effective alternatives pose high threat to Eylea sales.
Competitive Rivalry: High. Major players compete on brand, marketing investments. Patents expiry increase competition.
Key Takeaways
The Global EYLEA Drug Market Size is expected to witness high growth. The market size is projected to reach US$ 8.79 Bn by 2023 from US$ 5.95 Bn in 2018, expanding at a CAGR of 7.2% during the forecast period.
Regional Analysis – North America dominates the global EYLEA drug market currently due to high awareness and adoption of novel therapies. However, Asia Pacific is expected to witness fastest growth over the forecast period supported by rising healthcare spending and increasing patient population.
Key Players – Key players operating in the EYLEA drug market are Bayer, Regeneron Pharmaceuticals, Coherus BioSciences, Inc., and Klinge Biopharma. Bayer and Regeneron together holds over 90% of global market share currently. Klinge Biopharma is emerging as biosimilar alternative while Coherus is developing its version of Eylea to grab market share.
Reasons to Purchase Global EYLEA Drug Market Report:
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2. Develop/modify business expansion plans by using substantial growth offerings in developed and emerging markets.
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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?
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*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
