In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
November 05, 2021: EyePoint Pharmaceuticals, Inc. announced the interim data from its ongoing Phase 1 DAVIO trial of EYP-1901 for the potential treatment of wet AMD.
June 14, 2021: EyeGate Pharmaceuticals, Inc. announced the first successful dosage of its drug PP-001 in phase II proof-of-concept (“POC”) study ocular surface inflammation. PP-001 is an inhibitor of dihydroorotate dehydrogenase.
Ans: Increasing prevalence of ocular diseases, and growing awareness amongst people regarding vision impairment is estimated to boost the market growth.
Ans: The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022 – 2031.
Ans: High competition from generic products is estimated to hamper the market growth.
Ans: The North America region is anticipated to provide more business opportunities over the forecast period owing to the growing prevalence of cataract in the region.
Ans: The major players in the market are Taiwan Liposome Company, Ltd., Ocular Therapeutix, Inc., Kiora Pharmaceuticals, Inc., Graybug Vision Inc., Apellis Pharmaceuticals, Inc., Implanet Company, and Aerie Pharmaceuticals Inc.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by type, drug type, disease type, end-user, and by region.
Ans: The ophthalmic clinics segment is anticipated to hold largest market size over the forecast period and display significant growth opportunities.