Retinal Disorder Treatment Market: Introduction
According to the report, the global retinal disorder treatment market was valued at ~US$ 9.2 Bn in 2018 and is projected to expand at a CAGR of ~8% from 2019 to 2027. Retinal disorders include macular degeneration, diabetic retinopathy, diabetes macular edema, and retinal vein occlusion. Macular degeneration is of two types: wet age-related macular degeneration and dry age-related macular degeneration. Diabetic retinopathy is one of the common diabetic eye disorders. It is caused by damage to the blood vessels in the retina. The damaged blood vessels and nerves lead to vision impairment, blurring of vision, and eye hemorrhage. If left untreated, it may lead to retinal detachment and blindness.
Different types of retinal disorder treatments provided by major manufacturers include anti-VEGF agents and others (anti-inflammatory drugs, etc.). Growth of the retinal disorder treatment market can be attributed to rise in prevalence of retinal disorders and a strong product pipeline. North America dominated the retinal disorder treatment market in 2018 and the trend is anticipated to continue during the forecast period.
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Rise in Prevalence of Retinal Disorder and New Product Launches to Drive Market
Rise in prevalence of retinal disorders due to increase in geriatric patient population is likely to drive the market. According to a recent study, age-related macular degeneration is likely to affect approximately 196 million by 2020 and increase to 288 million by 2040 globally. Increase in prevalence of other retinal diseases also helps to fuel the growth of this market. For instance, 93 million people have diabetic retinopathy, 21 million people are suffering from diabetic macular edema, and 28 million cases of vision-threatening diabetic retinopathy have been reported.
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Increase in Prevalence of Macular Degeneration in Geriatric Population
Based on disease indication, the retinal disorder treatment market has been divided into macular degeneration, diabetic retinopathy, diabetic macular edema, and others (retinal vein occlusion, etc.). The macular degeneration segment has been bifurcated into wet macular degeneration and dry macular degeneration. The macular degeneration segment dominated the retinal disorder treatment market in 2018 and the trend is projected to continue during the forecast period. Increase in prevalence of macular degeneration in geriatric population is anticipated to accelerate the growth of the segment. According to a recent study, AMD currently affects around 34 million people in the European Union (EU) and 22 million people in the five most populous countries in Europe alone: Germany, France, the U.K., Italy, and Spain. The diabetic retinopathy segment is expected to expand at a high CAGR during the forecast period due to increase in incidence of diabetes among people.
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High Demand for Anti-VEGF Products
In terms of therapeutic class, the retinal disorder treatment market has been classified into anti-VEGF agents and others. The anti-VEGF agents segment dominated the retinal disorder treatment market due to increase in demand for anti-VEGF products such as Lucentis and Eylea. The highest selling anti-VEGF drug in the macular degeneration treatment market was Bayer/Regeneron’s Eylea, which recorded sales of US$ 6.75 Bn globally in 2018. Other manufacturers are focusing on developing new anti-VEGF products. For instance, in October 2019, Novartis AG received USFDA approval for brolucizumab (RTH258) in the treatment of wet age-related macular degeneration (AMD). The others segment includes anti-inflammatory drugs such as Visudyne (Verteporfin), steroids, and nutritional supplements such as antioxidant vitamins A, C, and E.
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Eye Solution is Most Preferred Dosage Form
Based on dosage form, the retinal disorder treatment market has been categorized into gels, eye solutions, capsules & tablets, eye drops, and ointments. The eye solutions segment dominated the global retinal disorder treatment market due to availability of major retinal disorder treatment products in solution form, such as Eylea, Lucentis, and others. Eye drops is likely to be a highly lucrative segment and it is anticipated to expand at a high CAGR during the forecast period.
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Retinal Disorder Treatment Market: IntroductionAccording to the report, the global retinal disorder treatment market was valued at ~US$ 9.2 Bn in 2018 and is projected to expand at a CAGR of ~8% from 2019 to 2027.
Retinal disorders include macular degeneration, diabetic retinopathy, diabetes macular edema, and retinal vein occlusion.
It is caused by damage to the blood vessels in the retina.
North America dominated the retinal disorder treatment market in 2018 and the trend is anticipated to continue during the forecast period.
Increase in prevalence of other retinal diseases also helps to fuel the growth of this market.
For instance, 93 million people have diabetic retinopathy, 21 million people are suffering from diabetic macular edema, and 28 million cases of vision-threatening diabetic retinopathy have been reported.
The global retinal disorder treatment market size is expected to reach USD 15.8 billion by 2026, according to a new report by Radiant Insights, Inc., registering a CAGR of 7.6% over the forecast period.
According to data published in the NCBI in 2018, around 18.0% of diabetic patients in India suffer from diabetic retinopathy.
Similarly, National Eye Institute estimates that by 2030 and 2050, around 10 and 14 million people respectively will suffer from diabetic retinopathy in America.
Based on an article published by WebMD in 2019, age-related macular degeneration (AMD) is the leading cause of irreversible visual loss in U.S., occurring in more than 10% of the population aged 65-74 years.
According to data published in the World Population Prospects: 2019 Revision, around 1 in 11 and 1 in 4 people living in North America and Europe, respectively, will be aged 65 years and above by 2050.
Further key findings from the report suggest: • By type, macular degeneration held the dominant share in 2018 and is estimated to be the fastest growing segment over the forecast period.
Retinal Disorders Treatment Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the retinal disorders treatment market include Santen Pharmaceutical Co., Ltd., REGENERON, Graybug Vision, Inc., Shire (Takeda Pharmaceutical Company Limited), Bayer AG, Genentech, Inc., Acucela Inc., and Pfizer, Inc.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Retinal Disorders Treatment Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/retinal-disorders-treatment-market/download-sampleMarket DynamicsThe rise in adult and diabetic patient’s population across the globe will boost the retinal disease therapeutics market.
In addition, the increase in R activities in developing countries is bound to boost the market growth globally as the prevalence of the retinal disorder is increasing in both developed and developing regions.
Further, the rise in the support offered by government and non-profitable organizations may have a positive impact on the market.
