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LONDON, GREATER LONDON, UNITED KINGDOM, January 21, 2025 /EINPresswire.com/ -- What Does The Future Hold for the Lucentis Ranibizumab Market?
The Lucentis Ranibizumab market size has showcased strong growth in recent years and is projected to continue this upward trend. From 2024 to 2025, the market size is expected to grow from $3,538.57 million to $3,741.97 million, indicating a compound annual growth rate CAGR of 5.7%. A range of factors can be attributed to this remarkable growth, including the escalating prevalence of age-related macular degeneration AMD, regulatory approval and reimbursement, commendable efficacy and clinical outcomes, strong brand recognition and physician adoption, as well as the emergence of biosimilars and cost competition.
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Lucentis ranibizumab is anticipated to continue its impressive ascent in the coming years, propelled by an expected CAGR of 5.5% and predicted market size of $4,633.35 million in 2029. This forecasted growth is attributed to the increasing incidence of diabetic retinopathy DR and diabetic macular edema DME, advancements in treatment protocols and combination therapies, the aging population and the rising prevalence of retinal diseases, expansion of market access in emerging markets, alongside ongoing clinical research and potential new indications.
What Are The Key Growth Drivers and Trends in the Lucentis Ranibizumab Market?
A significant driver of market growth is the escalating prevalence of eye-related disorders. The age-related macular degeneration AMD and diabetic macular edema DME, resulting from ageing, genetic predisposition, poor lifestyle choices such as smoking and high-fat diets, as well as environmental factors like prolonged sun exposure or digital screen use, can be treated with Lucentis. In 2024, the National Eye Institute, a US-based government agency, estimated that 2.2 million Americans will be blind by 2030, hence instigating an increased demand for Lucentis ranibizumab.
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The rising healthcare expenditure is another contributing factor to the expected growth of the Lucentis Ranibizumab market. Increased spending on healthcare services and products, attributed to an ageing population, advancements in medical technology, rising prevalence of chronic diseases, and higher demand for healthcare services, pave the way for more extensive use of Lucentis Ranibizumab in treating retinal diseases.
Which Companies Are Leading The Lucentis Ranibizumab Market?
The market is led by formidable players such as F.Hoffmann-La Roche Ltd and Novartis AG.
What Are the Emerging Trends in The Lucentis Ranibizumab Market?
Significant trends include developing biosimilars to provide more affordable alternatives to branded products, such as the launch of FYB201, a biosimilar of Lucentis Ranibizumab, by Formycon AG and Bioeq AG.
By what Margin Is The Lucentis Ranibizumab Market Segmented?
1 By Type: Single-use Prefilled Syringe; Single-use Glass Vial
2 By Application: Age-related Macular Degeneration; Diabetic Retinopathy; Retinal Vein Occlusion; Myopic Choroidal Neovascularization; Uveitis
3 By End-User: Hospitals; Clinics; Ambulatory Surgical Centers; Other End-Users
Which Regions are Leading and Growing in the Lucentis Ranibizumab Market?
North America dominated the market in 2024, while the Asia-Pacific is expected to be the fastest-growing region over the forecast period.
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