Verteporfin Therapy Is Estimated To Witness High Growth Owing To Opportunity In Antiviral Treatment

verteporfin market


Verteporfin is an ophthalmic photosensitizing drug, commonly used to treat wet age-related macular degeneration (AMD). Wet AMD is characterized by abnormal blood vessel growth underneath the retina, which can damage central vision if left untreated. Verteporfin therapy involves intravenous infusion of the drug which localizes and accumulates in these abnormal blood vessels. The vessels are then selectively closed by non-thermal photocoagulation with a non-laser light at a specific wavelength. This process, known as photodynamic therapy (PDT), is carried out to prevent further growth of abnormal vessels and minimize vision loss.

The global verteporfin market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The opportunity in antiviral treatment presents a promising growth prospect for the verteporfin market. Recent studies have indicated verteporfin's potential to inhibit viral replication through photodynamic inactivation. Its photosensitizing properties allow the generation of reactive oxygen species upon light activation, which can damage viral particles. Research is ongoing to evaluate verteporfin PDT against various viruses like influenza, herpes simplex, human papilloma, and coronaviruses. Successful development of antiviral applications could significantly boost the market size of verteporfin therapy beyond its current use in wet AMD treatment. This would expand the drug’s clinical utility and commercialization in new therapeutic areas.

Porter's Analysis
Threat of new entrants: The threat of new entrants is moderately low as the Verteporfin market requires significant investment in R&D and clinical trials.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of alternative treatment options and drugs.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are few raw material suppliers and production processes are less complicated.

Threat of new substitutes: The threat of new substitutes is moderately high as alternative treatment options are available.

Competitive rivalry: The competitive rivalry is high among existing players.

SWOT Analysis
Strengths: Verteporfin has a well established use for the treatment of wet AMD. It demonstrates greater efficacy and safety compared to conventional therapies.
Weaknesses: Verteporfin has a complicated administration process involving infusion over a period of time under medical supervision. It faces competition from alternative oral administration drugs.
Opportunities: The increasing geriatric population prone to eye diseases present growth opportunities. Emerging markets yet to adopt verteporfin therapy offer scope for growth.
Threats: Patent expirations of branded drugs enable entry of low cost generics. Stringent regulations delay product approvals.

Key Takeaways
The Global Verteporfin Market Demand is expected to witness high growth over the forecast period driven by the rising prevalence of age-related macular degeneration. The global verteporfin market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023-2030.

North America will continue dominating the verteporfin market throughout the forecast period supported by rising healthcare expenditure and developed healthcare and reimbursement policies. Asia Pacific is anticipated to witness the highest growth owing to growing medical tourism, rapidly improving healthcare infrastructure, and increasing prevalence of eye disorders.

Key players operating in the verteporfin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc., Ciba Corporation, and LGM Pharma, LLC. Bausch Health Companies Inc. commercializes Visudyne for ophthalmic use as verteporfin for injection. The market is characterized by the presence of established global players and a handful of regional players.

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