Global Ophthalmology Market To Surge

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Global Ophthalmology Market To Surge

Ophthalmology concept. Male patient under eye vision examination in eyesight ophthalmological correction clinic

Pharmaceutical brand planning has never been so important as it is now, with the changing face of pharmaceuticals as exciting as ever.

As people get older and develop more conditions, as well as more medicines being created to treat those conditions, the focus of pharmaceutical companies is changing.

One of those areas is in the treatment of conditions that can lead to loss of sight and blindness.

The total ophthalmology market is expected to be worth over $32 billion by 2023 says GBI research. This is mainly due to the number of new approvals that are being sought for existing medications, which will allow them to be used for a wider variety of conditions. These medications include: Lampalizumab, Fovista and Brolucizumab.

Ross Wilkinson, Associate Analyst for GBI Research, commented: “In 2017, Spark Therapeutics is expected to gain FDA approval for its orphan drug Voretigene Neparvovec, which is currently under development for retinitis pigmentosa and leber congenital amaurosis.“

If approved, it would not only be the first pharmacological treatment for an inherited retinal disease, but would also be the first gene therapy for any genetic disease to be approved by the FDA, he added.

The surge in value follows on from a wide range of approvals in recent years, for new treatments for macular degeneration and diabetic retinopathy.

Diabetic retinopathy was the leading cause of sight loss in older people but is no longer, due to the new treatments and screening practices which detect it at a much earlier stage, meaning treatment is much more successful.