PUBLISHER: The Business Research Company | PRODUCT CODE: 1428350
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428350
Retinal disorder treatment encompasses medical interventions and procedures aimed at managing or improving the symptoms and conditions associated with retinal disorders. Retinal disorders involve abnormalities or damage to the retina, the light-sensitive tissue at the back of the eye responsible for transmitting visual signals to the brain.
The main types of retinal disorder treatment include macular degeneration, diabetic retinopathy, and others. Macular degeneration, often referred to as age-related macular degeneration (AMD), is a chronic eye condition primarily affecting the macula-the central area of the retina responsible for clear central vision. Treatment options are available in various dosage forms, including gels, eye solutions, capsules, tablets, eye drops, and ointments. These treatments are typically distributed through hospital pharmacies, online pharmacies, and retail pharmacies.
The retinal disorder treatment market research report is one of a series of new reports from The Business Research Company that provides retinal disorder treatment market statistics, including the retinal disorder treatment industry's global market size, regional shares, competitors with a retinal disorder treatment market share, detailed retinal disorder treatment market segments, market trends and opportunities, and any further data you may need to thrive in the retinal disorder treatment industry. This retinal disorder treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The retinal disorder treatment market size has grown rapidly in recent years. It will grow from $11.57 billion in 2023 to $12.74 billion in 2024 at a compound annual growth rate (CAGR) of 10.1%. The observed growth during the historical period can be attributed to factors such as the introduction of anti-VEGF therapies, an aging population, increased incidence of retinal disorders, improved diagnostic tools for early detection, increased awareness and screening programs, and expanded access to healthcare services.
The retinal disorder treatment market size is expected to see strong growth in the next few years. It will grow to $17.93 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The anticipated growth in the forecast period can be attributed to factors such as patient-centric approaches in retinal healthcare, increasing global healthcare expenditure, a greater focus on combination therapies for retinal disorders, the rise of home-based retinal disorder monitoring, the increasing adoption of implantable devices for retina treatment, and the adoption of regenerative medicine in retina treatment. Major trends expected in the forecast period include advancements in ophthalmic imaging technologies, the development of minimally invasive surgical techniques, the integration of artificial intelligence in diagnostics, advancements in drug delivery technologies, the integration of virtual reality in retinal rehabilitation, collaborations between research institutions and pharmaceutical companies, and the development of gene therapies for genetic retinal diseases.
The anticipated increase in the prevalence of retinal disorders is set to drive the expansion of the retinal disorder treatment market. Retinal diseases encompass medical conditions affecting the retina, the light-sensitive tissue at the back of the eye, and can lead to vision loss or severe visual impairment. Treatments for retinal disorders, including laser therapy, vitrectomy, and retinal implants, play a crucial role in managing and alleviating symptoms. As of January 2023, the International Agency for the Prevention of Blindness reports that age-related macular degeneration (AMD) is projected to account for approximately 5% of global blindness. The prevalence of AMD is expected to impact 288 million individuals by the year 2040. Thus, the rising incidence of retinal disorders is a significant driver for the growth of the retinal disorder treatment market.
The increasing prevalence of diabetes is anticipated to further bolster the growth of the retinal disorder treatment market. Diabetes, characterized by elevated blood glucose levels, can lead to diabetic retinopathy, the most common retinal disorder among individuals with diabetes. Damage to blood vessels in the retina can result in bleeding, fluid leakage, and the development of new blood vessels. Retinal disorder treatments, including laser interventions, are employed to address such complications. As of July 2021, the International Diabetes Federation projects a global diabetic population of 537 million in 2021, rising to 643 million in 2030 and 783 million in 2045. The prevalence of impaired glucose tolerance is estimated to reach 541 million by 2021. The increasing incidence of diabetes is thus a key driver for the growth of the retinal disorder treatment market.
A notable trend gaining traction in the retinal disorder treatment market is the innovation of products by major companies. These innovations are introduced to maintain a competitive edge in the market. For example, in January 2022, F. Hoffmann-La Roche AG, a pharmaceutical company based in Switzerland, received FDA approval for Vabysmo. Vabysmo is a bispecific antibody designed to treat neovascular or wet age-related macular degeneration (AMD) and diabetic macular edema (DME). It represents the first injectable eye medication targeting and inhibiting two disease pathways, Angiopoietin-2 (Ang-2) and Vascular Endothelial Growth Factor-A (VEGF-A), associated with retinal diseases. Clinical trials demonstrated non-inferior vision improvements compared to traditional therapy, with a favorable safety profile.
Major companies in the retinal disorder treatment market are actively developing innovative products, including treatments for geographic atrophy, to expand their customer bases, boost sales, and increase revenue. Geographic atrophy treatments focus on symptom management, disease progression mitigation, and aiding individuals in coping with visual impairment. For instance, in August 2023, Astellas Pharma Inc., a Japanese pharmaceutical company, received FDA approval for IZERVAY. As a novel complement C5 inhibitor, IZERVAY is the sole approved treatment for geographic atrophy (GA) showing a statistically significant reduction (p<0.01) in the rate of GA progression in two Phase 3 clinical trials. This distinction positions IZERVAY as an effective therapy for GA secondary to age-related macular degeneration (AMD).
In July 2023, Astellas Pharma Inc. acquired Iveric Bio Inc., a biopharmaceutical company based in the United States, for an undisclosed amount. This strategic acquisition is aimed at expanding Astellas' presence in ophthalmology, gaining access to innovative therapies for retinal diseases, and enhancing its position in the market for treating ophthalmologic conditions and vision loss.
Major companies operating in the retinal disorder treatment market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., AbbVie Inc., Bayer AG, Novartis AG, Takeda Pharmaceutical Company Limited, Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Genentech Inc., Santen Pharmaceutical Co. Ltd., Apellis Pharmaceuticals Inc., Kubota Pharmaceutical Holdings Co. Ltd, Alimera Sciences Inc., Ocular Therapeutix Inc., EyePoint Pharmaceuticals Inc., Adverum Biotechnologies Inc., Kodiak Sciences Inc., Acucela Inc., IVERIC bio Inc., Oxurion NV, Graybug Vision Inc., Icon Bioscience Inc., Clearside Biomedical Inc., Aerpio Pharmaceuticals Inc., Neurotech Pharmaceuticals Inc., Ophthotech Corporation, Opthea Limited, PanOptica Inc., ThromboGenics NV
North America was the largest region in the retinal disorder treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retinal disorder treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the retinal disorder treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The retinal disorder treatment market includes revenues earned by entities by providing retinal detachment, laser treatment, genetic treatments, and photodynamic therapy. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retinal Disorder Treatment Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retinal disorder treatment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retinal disorder treatment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retinal disorder treatment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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