MarketResearch.biz announces publication of its most recently generated research report titled, “Global Ophthalmic Mitomycin C Market by Route of Administration (Topical Route, IV Route), Indication (Glaucoma Surgery, Refractive Surgery, Pterygium Surgery, Ocular Surface Tumors, Other Indications), and Region – Global Forecast to 2031.”, which offers a holistic view of the global Mitomycin C market only for ophthalmic through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2021–2025) is projected to be over US$ 0.2 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Mitomycin C is used as a chemotherapeutic agent due to its antitumor properties. In most of the cases, it is administered intravenously. It is an anti-metabolite with an anti-proliferative effect on cells showing the highest rate of mitosis by inhibiting DNA synthesis and interferes with RNA transcription and protein synthesis. Without the correct RNA and DNA, cell migration and mitosis are inhibited. This results in a decreased rate of cell proliferation. It is also used in eye surgery to prevent scarring during glaucoma filtering surgery, and also to prevent haze development after LASIK (Laser-Assisted Sub-Epithelial Keratectomy). Mitomycin C works by interfering with the development of genetic materials in cells, i.e. DNA. Mitomycin C prevents it from dividing into 2 cells, ultimately killing the cell.
Global Ophthalmic Mitomycin C Market: Market Dynamics
Several awareness programs concerned with eye cancer have been initiated in various developed and developing countries. For instance, World Retinoblastoma Awareness Week is organized and managed by various NGOs across the globe, as retinoblastoma is a rare cancer that mostly occurs in children. Such awareness programs encourage individuals to pursue appropriate treatment and timely testing of such diseases. This factor is also expected to boost market growth prospects for the Mitomycin C sector.
The side effects of Mitomycin C include ocular pain, photophobia, lacrimation, lid edema, dizziness, and temporary hair loss, among others. This factor is expected to potentially hamper the market revenue growth of the Mitomycin C sector to a certain extent. Moreover, the onset of the COVID-19 pandemic has resulted in either a complete shutdown of various businesses, or their functioning with minimal staff, as well as disruptions faced by numerous sourcing, manufacture & supply-chain operators, resulting in irreversible damage to each region’s respective economic landscape. This is expected to have a profoundly negative impact on the Mitomycin C market as well. Respective lockdowns have restricted the manufacturing, as well as import/export of medicines. However, as enforced lockdowns are gradually lifted, and economies begin to reopen, the manufacturing of various drugs and biologics are also expected to commence, subsequently leading to a moderate recovery in the years to come.
The prevalence of glaucoma is increasing worldwide, with approximately 76 million people suffering from glaucoma in 2020. Trabeculectomy is performed as a treatment for glaucoma, and Mitomycin C is used during the initial stages to prevent excessive postoperative scarring, and thus ultimately reducing the risk of potential failure. Moreover, awareness programs concerning glaucoma initiated by various governments also emphasize early detection and treatment of these diseases. For example, the World Glaucoma Week is a global initiative by the World Glaucoma Association (WGA) to raise awareness on glaucoma. These factors are expected to create lucrative opportunities for major players as greater awareness levels are expected to lead to higher treatment adoption rates by patients.
Global Ophthalmic Mitomycin C Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global Mitomycin C market only for ophthalmic based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global Mitomycin C market only for ophthalmic is estimated to expand at a moderate CAGR of -1.5% during the forecast period.
Global Ophthalmic Mitomycin C Market: Segmental Snapshot
The market report has been segmented on the basis of route of administration, indication, and region. The route of administration segment includes Topical Route, IV Route. The indication segment includes Glaucoma Surgery, Refractive Surgery, Pterygium Surgery, Ocular Surface Tumors, Other Indications. The region covered in the analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By route of administration: The IV route segment is expected to register a CAGR of over -1.2%, thereby accounting for highest revenue share among the route of administration segments.
By indication: The glaucoma surgery segment is expected to register a CAGR of over -0.9% over the forecast period, thereby accounting for highest revenue share among the indication segments.
By region: The market in North America accounted for highest revenue share in the global Mitomycin C market only for ophthalmic in 2020, and is estimated to register a CAGR of over -1.1% between 2021 and 2031.
Global Ophthalmic Mitomycin C Market: Competitive Analysis
The research report on the global Mitomycin C market only for ophthalmic includes profiles of major companies such as Mobius Therapeutics, LLC, Edge Pharma, LLC, etc.
The Global Ophthalmic Mitomycin C Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2021–2031 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global Mitomycin C Market only for Ophthalmic for 2021–2031.
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