The Ophthalmic Pharmaceutical Market Outlook To 2014: Competitive landscape, pipeline analysis, growth opportunities and market forecasts

The Ophthalmic Pharmaceutical Market Outlook To 2014: Competitive landscape, pipeline analysis, growth opportunities and market forecasts

Executive Summary


The $13.5bn global ophthalmic pharmaceutical market demonstrated low double-digit y-o-y growth in 2008. The emergence of treatment strategies for age-macular degeneration and the subsequent therapeutic and commercial success of Lucentis has led to a substantial rise in overall size of the market while signaling the lucrative and expanding sector within ophthalmology. However, the market faces a patent cliff post 2010 due to patent expiries of class-leading products in anti-glaucoma, ocular anti-allergic and anti-infective/anti-inflammatory therapies. Subsequent generic incursion coupled with the increasing legislative priority towards healthcare reform across the globe will hurt market expansion and growth of ophthalmic franchises of leading pharmaceutical companies. Driven by good efficacy, Roche/Genentech’s Lucentis and Allergan/Inspire’s Restasis is expected to dominate the treatment of wet AMD and dry eye markets respectively. However Business Insights expect worldwide sales of ophthalmology treatments to remain roughly flat during 2008-14.



Key findings

• The ophthalmic pharmaceutical market registered sales of $13.5bn in 2008, at a y-o-y increase of 13.3%. The top ten ophthalmic brands accounted for $6.6bn sales or 49.0% share of the market in 2008.

• Anti-glaucoma preparations formed the largest category in 2008, posting $5.2bn sales. The segment grew at 11.0% y-o-y, accounting for 38.7% market share. Pfizer’s Xalatan dominated this segment while delivering sales of $1.6bn. The segment is expected to post a CAGR of -9.7% during 2008-2014.

• Ocular antineovascularization preparations, used for the treatment of wet AMD, accounted for $1.8bn in sales during 2008. The segment captured 13.4% of the market, while registering a robust y-o-y growth of 29.8%. Roche/Novartis’ Lucentis dominated the market with $1.6bn sales during the same year. The segment will be one of the major growth drivers for the market with CAGR of 6.7% during 2008-14.




Key features of this report


• Estimation of target population in leading ophthalmic indications that offer high commercial prospects such as cataract, glaucoma, age-related macular degeneration (AMD), diabetic retinopathy and diabetic macular edema (DME) and dry eye syndrome in the ophthalmic pharmaceutical sector.

• Company analysis and market share of the top eight players in the ophthalmic pharmaceutical market: Alcon, Allergan, Pfizer, Novartis, Roche, Merck, Santen Seiyaku and Bausch & Lomb.

• Overview of key events in the ophthalmic pharmaceutical market that have impacted treatment trends and sales potential across indications.

• In-depth analysis of the ophthalmic pharmaceutical pipeline




Use this report to


• Quantify the epidemiological status of cataract, glaucoma, AMD and dry eye syndrome in the US, 5EU and Japan.

• Understand therapy segments with the greatest franchise growth potential and understand the growth drivers.

• Compare the franchises of top ophthalmic pharmaceutical players across major indications, and evaluate how market share of leading companies such as Alcon, Allergan, Pfizer, Novartis, Roche, Merck, Santen Seiyaku and Bausch & Lomb will evolve over the next five years.


Discover

• What will be the major growth indications and the accompanying growth drivers in the ophthalmic pharmaceutical market over 2008–14?

• What are the current trends within the major segments such as glaucoma, retinal disorders (AMD, DME, etc.), dry eye syndrome, ophthalmic infections and inflammation, etc.?

• What are the most promising ophthalmic products in clinical development and their forecast commercial potential through 2014?

• Which companies are best positioned to succeed in the ophthalmic pharmaceutical market over the period 2008–14?

Table of Contents
The Ophthalmic Pharmaceutical Market Outlook to 2014
Executive summary 12
Overview and epidemiology 12
Global market analysis 13
Pipeline analysis 14
Competitive landscape 15
Chapter 1 Scope and methodology 18
Scope 18
Methodology 19
Chapter 2 Overview and epidemiology 22
Summary 22
Introduction 23
Blindness facts 23
Cataracts 25
Background 25
Treatment and management 25
Forecast epidemiology 27
Glaucoma 28
Background 28
Treatment and management 28
Forecast epidemiology 31
Retinal disorders 32
Age-related macular degeneration 32
Treatment and management 33
Forecast epidemiology 34
Diabetic retinopathy and diabetic macular edema 36
Treatment and management 37
Epidemiology 37
Dry eye syndrome or (keratoconjunctivitis sicca) 38
Background 38
Treatment and management 38
Forecast epidemiology 39
Chapter 3 Global market analysis 42
Summary 42
Introduction 43
Historical growth trends 43
Regional dynamics 45
Leading ophthalmic brands 46
Market analysis by drug class 47
Forecast market performance drug class wise 49
Key issues 50
Patent cliff looms in the ophthalmic market 50
Key events 52
Novartis' acquisition of Alcon 53
Anti-glaucoma preparations 54
Leading brands 55
Brand analysis 55
Leading players 58
Ocular anti-neovascularization preparations 59
Leading brands 59
Brand analysis 60
Leading players 64
Artificial tears 64
Leading brands 65
Brand analysis 65
Leading players 67
Ocular anti-allergics, decongestants and antiseptics 67
Drug class analysis 68
Leading brands 69
Brand analysis 69
Leading players 70
Ophthalmic anti-infectives and anti-inflammatory preparations 71
Drug class analysis 72
Leading anti-infective brands 73
Key brand analysis 73
Leading anti-inflammatory brands 74
Key brand analysis 74
Leading anti-infectives/anti-inflammatory combination brands 76
Key brand analysis 76
Leading players 78
Miscellaneous ophthalmic preparations 78
Leading brands 79
Chapter 4 Pipeline analysis 82
Summary 82
Introduction 83
Key trends, issues and events 83
Protracted regulatory pathway presents entry barriers to the highgrowth DES segment 83
Drug implant techniques: economic alternative to laser therapy in DME 84
AMD treatment that uses VEGF-targeted siRNA strategies is in troubled waters 86
Recently launched products 88
Besivance 88
Ozurdex 88
Products in Phase III 89
Bepreve 89
Prolacria 90
VEGF Trap-Eye 92
Luveniq 94
Products in Phase II 94
iDestrin 94
Ecabet 95
Androgen Tears 96
Pipeline forecasts 97
Chapter 5 Competitive landscape 100
Summary 100
Introduction 101
Market concentration/fragmentation analysis 101
Sales performance of leading players 102
Positioning of major players in 2008 by segment 103
Forecast sales performance of leading players 104
Alcon 105
Overview 105
Dependency on ophthalmic business 105
Drug class focus 106
Marketed portfolio 108
Pipeline portfolio 109
Competitive analysis 110
Allergan 113
Overview 113
Dependency on ophthalmic business 114
Drug class focus 115
Marketed portfolio 116
Pipeline portfolio 117
Competitive analysis 119
Pfizer 122
Overview 122
Dependency on ophthalmic business 123
Drug class focus 124
Marketed portfolio 125
Pipeline portfolio 126
Competitive analysis 127
Novartis 128
Overview 128
Dependency on ophthalmic business 128
Drug class focus 129
Marketed portfolio 130
Pipeline portfolio 131
Competitive analysis 132
Merck & Co. 134
Overview 134
Dependency on ophthalmic business 134
Drug class focus 135
Marketed portfolio 136
Competitive analysis 136
Santen Seiyaku 138
Overview 138
Dependency on ophthalmic business 138
Drug class focus 139
Marketed portfolio 140
Pipeline portfolio 141
Competitive analysis 142
Bausch & Lomb 143
Overview 143
Dependency on ophthalmic business 143
Drug class focus 145
Marketed portfolio 146
Pipeline portfolio 147
Competitive analysis 147
Chapter 6 Appendix 152
Definitions 152
Phacoemulsification (Phaco) 152
Extracapsular cataract extraction (ECCE) 152
Intracapsular cataract extraction (ICCE) 152
20/40 vision 152
Glossary 153
Index 156
List of Figures
Figure 2.1: Leading causes of blindness worldwide (%) 24
Figure 2.2: Stages of progression of diabetic retinopathy 36
Figure 3.3: Historical growth trend of the ophthalmic market, 2004–08 43
Figure 3.4: Forecast sales trend in the global ophthalmic market, 2008–14 50
Figure 3.5: Drivers and resistors of the global ophthalmic market through to 2014 51
Figure 3.6: Chronology of significant events in the ophthalmic market through to 2014 52
Figure 3.7: Sales analysis of Novartis and Alcon's merged ophthalmic business through to 2014 54
Figure 3.8: Comparison of sales trends of anti-neovascularization preparations , 2004–08 61
Figure 4.9: Competitive analysis of diabetic macular edema treatments 85
Figure 5.10: Competitive position of companies across market segments, 2008 103
Figure 5.11: Sales performance trend of Alcon's pharmaceutical business, 2007–08 105
Figure 5.12: Sales performance trend of Allergan's pharmaceutical business, 2007–08 114
Figure 5.13: Sales performance trend of Pfizer's pharmaceutical business, 2007–08 123
Figure 5.14: Sales performance trend of Novartis' pharmaceutical business, 2007–08 128
Figure 5.15: Sales performance trend of Merck's pharmaceutical business, 2007–08 134
Figure 5.16: Sales performance trend of Santen Seiyaku's pharmaceutical business, 2007–08 138
Figure 5.17: Sales performance trend of Bausch & Lomb's pharmaceutical business, 2007–08 144
List of Tables
Table 2.1: Cataract surgery and commercial opportunity 26
Table 2.2: Forecast prevalence of cataracts across the 7MM, 2008–14 27
Table 2.3: Target IOP and degree of glaucoma 29
Table 2.4: Glaucoma management strategies 29
Table 2.5: Forecast prevalence of glaucoma across the 7MM, 2008–14 31
Table 2.6: Forecast prevalence of dry AMD across the 7MM, 2008–14 34
Table 2.7: Forecast prevalence of wet AMD across the 7MM, 2008–14 35
Table 2.8: Global prevalence of diabetic retinopathy and diabetic macular edema, 2008 37
Table 2.9: Forecast prevalence of dry eye syndrome across major markets, 2008–14 39
Table 3.10: Regional dynamics in the ophthalmic market, 2007–08 45
Table 3.11: Sales performance of leading ophthalmic brands, 2007–08 46
Table 3.12: Sales performance of various ophthalmic drug classes, 2007–08 47
Table 3.13: Leading brands across drug classes, 2007–08 48
Table 3.14: Forecast sales performance of various ophthalmic drug classes, 2008–14 49
Table 3.15: Sales performance of leading anti-glaucoma preparations, 2007–08 55
Table 3.16: Leading players in the anti-glaucoma preparations segment, 2008 58
Table 3.17: Sales performance of leading anti-neovascularization preparations, 2007–08 59
Table 3.18: Leading players in the ocular anti-neovascularization segment, 2008 64
Table 3.19: Sales performance of leading artificial tears, 2007–08 65
Table 3.20: Leading players in the artificial tears segment, 2008 67
Table 3.21: Sales performance of drug classes in the ocular anti-allergics, decongestants and antiseptics segment, 2007–08 68
Table 3.22: Sales performance of leading ocular anti-allergics, decongestants and antiseptics, 2007–08 69
Table 3.23: Leading players in the ocular anti-allergics, decongestants and antiseptics segment, 2008 70
Table 3.24: Sales performance of drug classes in the ocular anti-inflammatory and anti-infectives market segment, 2007–08 72
Table 3.25: Sales performance of leading ophthalmic anti-infectives, 2007–08 73
Table 3.26: Sales performance of leading ophthalmic anti-inflammatory products, 2007–08 74
Table 3.27: Sales performance of leading anti-infectives/anti-inflammatory combination brands, 2007–08 76
Table 3.28: Leading players in the ophthalmic anti-infectives/anti-inflammatory segment, 2008 78
Table 3.29: Sales performance of miscellaneous ophthalmic preparations, 2007–08 79
Table 4.30: Milestones of DES 83
Table 4.31: Mid- to late-stage siRNA trials 87
Table 4.32: Overview of Besivance 88
Table 4.33: Overview of Ozurdex 89
Table 4.34: Overview of Bepreve 90
Table 4.35: Overview of Prolacria 91
Table 4.36: Overview of VEGF Trap-Eye 92
Table 4.37: Overview of Luveniq 94
Table 4.38: Overview of iDestrin 95
Table 4.39: Overview of ecabet 96
Table 4.40: Overview of Androgen Tears 97
Table 4.41: Pipeline forecasts, 2008–14 97
Table 5.42: Sales performance of leading players in the ophthalmic market, 2007–08 102
Table 5.43: Forecast sales performance of leading players in the ophthalmic market, 2008–14 104
Table 5.44: Alcon's ophthalmic sales performance by drug class, 2007–08 106
Table 5.45: Sales performance of Alcon's leading ophthalmic brands, 2007–08 108
Table 5.46: Alcon's ophthalmic pipeline portfolio, July 2009 109
Table 5.47: Allergan's ophthalmic sales performance by drug class, 2008 115
Table 5.48: Sales performance of Allergan's leading ophthalmic brands, 2007–08 116
Table 5.49: Allergan's ophthalmologic pipeline portfolio, July 2009 117
Table 5.50: Pfizer's ophthalmic sales performance by drug class, 2008 124
Table 5.51: Sales performance of Pfizer's leading ophthalmic brands, 2007–08 125
Table 5.52: Pfizer's ophthalmologic pipeline portfolio, July 2009 126
Table 5.53: Novartis' ophthalmic sales performance by drug class, 2007–08 129
Table 5.54: Sales performance of Novartis' leading ophthalmic brands, 2007–08 130
Table 5.55: Novartis' ophthalmologic pipeline portfolio, July 2009 131
Table 5.56: Merck's ophthalmic sales performance by drug class, 2008 135
Table 5.57: Sales performance of Merck's leading ophthalmic brands, 2007–08 136
Table 5.58: Santen Seiyaku's ophthalmic sales performance by drug class, 2008 139
Table 5.59: Sales performance of Santen Seiyaku's leading ophthalmic brands, 2007–08 140
Table 5.60: Santen Seiyaku's ophthalmologic pipeline portfolio, July 2009 141
Table 5.61: Bausch & Lomb's ophthalmic sales performance by drug class, 2008 145
Table 5.62: Sales performance of Bausch & Lomb's leading ophthalmic brands, 2007–08 146
Table 5.63: Bausch & Lomb's ophthalmologic pipeline portfolio, July 2009 147