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(Hosting-NewsWire.com, November 14, 2017 ) Anophthalmia and microphthalmia may occur during development of the eye at various stages of growth of the optic vesicle. The prevalence of this disease is considered rare. It is important to recognize microphthalmia because the development of the orbital region, as well as the lids and the fornices.
Increasing prevalence of rare diseases, rising demand for better treatment, increasing investment in biotechnology and pharmaceutical industries for R&D, and availability of funds drive the growth of the market. Moreover, increasing government support for research & development, changing lifestyle, and rapidly developing technology is expected to fuel the market growth during the forecast period. However, high cost of the treatment may slow the market growth during the period 2017-2023.
The global anophthalmia and microphthalmia market is expected to grow at a CAGR of ~5.8 % during the forecast period 2017-2023.
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Key Players
Some of key the players in the market are Bristol-Myers Squibb Company, NUSAPURE, ALLERGAN, Aerie Pharmaceuticals, Inc., Pfizer Inc., Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc., Novartis AG , Regeneron Pharmaceuticals, Inc., Shire, and Santen Pharmaceutical Co., Ltd., and others.
Geographical Analysis
The Americas dominate the global anophthalmia and microphthalmia market owing to the presence of huge patient population with eye related problems, neurological disabilities, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global anophthalmia and microphthalmia market as result of increasing focus of various government agencies on the treatment of rare diseases such as acquired aplastic anemia. Moreover, the growing public awareness about anophthalmia and microphthalmia likely to boost the Europe market. According to reports from European Association for Vision and Eye Research, cases of anophthalmia and microphthalmia were identified, with a rate of 3.21 per 10,000 live births. Of which the eye defects were isolated in 5 cases (5.2%), and 24 cases (25.0%) had confirmed chromosomal abnormalities.
Asia Pacific is the fastest growing anophthalmia and microphthalmia market across the globe. Japan holds the major share of the regional market due to availability of advanced technology and huge healthcare spending. Moreover, rapidly developing economy, increasing healthcare expenditure, and the government’s initiatives for research & development projected to drive the market in China and India over the forecasted period.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
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The global anophthalmia and microphthalmia market growth is majorly attributed to the increasing prevalence of the genetic disorders and eye-related disorders. Moreover, the increasing mental retardation, neurological abnormalities are expected to drive the market growth over the assessment period.
According to the World Health Organization (WHO), an estimated 253 million people live with vision impairment 36 million are blind and 217 million have moderate to severe vision impairment worldwide. An estimated 19 million children (below age 15) are vision impaired.
Furthermore, According to the WHO estimates, neurological abnormalities are responsible for 4.5%-11% of all illnesses including low or high-income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years.
The global anophthalmia and microphthalmia market is segmented on the basis by diagnosis, by treatment, and by end user. On the basis of diagnosis, it is segmented into CT scan, MR scan, chromosome analysis, ultrasonography, and others. On the basis of treatment, it is segmented into surgery, and others. On the basis of end user, it is segmented into hospitals & clinics, research centers, and others.
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LIST OF TABLES
Table 1 Anophthalmia And Microphthalmia Industry Synopsis, 2017-2023
Table 2 Global Anophthalmia And Microphthalmia Market Estimates And Forecast, 2017-2023, (USD Million)
Table 3 Global Anophthalmia And Microphthalmia Market By Region, 2017-2023, (USD Million)
Table 4 Global Anophthalmia And Microphthalmia Market By Diagnosis, 2017-2023, (USD Million)
Table 5 Global Anophthalmia And Microphthalmia Market By Treatment, 2017-2023, (USD Million)
Table 6 Global Anophthalmia And Microphthalmia Market By End Users, 2017-2023, (USD Million)
Table 7 North America Anophthalmia And Microphthalmia Market By Diagnosis, 2017-2023, (USD Million)
Table 8 North America Anophthalmia And Microphthalmia Market By Treatment, 2017-2023, (USD Million)
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