Advancements in Gene-therapy and Stem-cell Therapy to Bolster Market Growth
Retinal disorders have received considerable attention from researchers and other experts over the course of the past couple of decades. However, prior to that timeframe, retinal disorders were largely sidelined as the primary cause of blindness in the blindness programs in most of developing regions. A number of factors, including high costs involved in the treatment of retinal disorders, steep costs, and unreliability of the equipment utilized were some of the common factors that led to a sluggish growth of the retinal disorders treatment market in several developing regions. Over the past few years, advancements in technology coupled with promising findings from research and development activities have contributed to the overall development of the global retinal disorders treatment market– a trend that is projected to continue over the duration of the forecast period.
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Increasing prevalence of retinal disorders in both, developing as well as developed regions of the world is expected to drive innovations, accelerate new treatments, and play an important role in increasing investments toward the overall development of the retinal disorders treatment market. Furthermore, the growing prevalence of diabetes around the world is another factor that is expected to augment the number of patients suffering from retinal disorders– a factor that is projected to boost the growth of the global retinal disorders treatment market during the assessment period. The increasing support offered by governments, particularly in developing regions has led to a considerable growth of the overall awareness pertaining to various retinal disorders due to which, the demand for retinal disorders treatment has witnessed a notable spike. This factor is anticipated to boost the prospects of the global retinal disorders treatment market during the stipulated timeframe of the study.
At the back of these factors, the global retinal disorders treatment market is on the course to surpass the US$ 19 Bn mark by the end of 2030.
New Technologies Set to Transform Future of Retinal Disorders Treatment
Technological advancements are set to play a key role in the overall growth of the global retinal disorders treatment market in the upcoming years. Groundbreaking breakthroughs and advancements in bionics, genetics, and stem-cell therapy are expected to transform the future of retinal disorders treatment in the upcoming decade. In developed regions wherein the preventable causes of blindness are detected early, owing to routine checkups and robust healthcare ecosystem, retinal degeneration has emerged as one of the top causes of blindness or visual impairment. Advancements across several new frontiers are expected to pave the way for new retinal disorders treatments for all the major forms of retinal disorders. Advancements in gene therapy, functional prostheses, and growing interest in bionic eyes are projected to play a vital role in boosting the growth of the global retinal disorders treatment market during the forecast period. While gene therapy is likely to emerge as a promising retinal disorder treatment, cell regeneration or stem-cell therapy has offered considerable promise in the treatment of blindness, especially in the later stages of the disease. Advancements in technology coupled with research and development activities are expected to play a key role in boosting the growth of the global retinal disorders treatment market during the assessment period.
Links Between COVID-19 and Microvascular Alterations to Increase Demand
The onset of the COVID-19 pandemic is expected to have a moderate impact on the overall growth of the global retinal disorders treatment market in 2020. While the major focus is projected to remain toward the discovery of new vaccine, research and development activities in other branches of the medical sectors are likely to continue as per the initial timeline. Research activities are also anticipated to evaluate the presence of retinal alterations among patients suffering from the novel COVID-19 infection. Due to the constant fear of contracting the virus, doctors and specialists are expected to rely on telehealth services. Although the trends suggest that patients are willing to delay retinal disorders treatment due to the ongoing pandemic, the market is likely to show signs of recovery toward the last quarter of 2020.
The global retinal disorders treatment market is anticipated to expand at a healthy CAGR of ~7% during the forecast period. The market growth is primarily driven by increasing prevalence of retinal disorders worldwide, advancements in technology, including gene therapy and stem-cell therapy, research and development activities, and rising awareness regarding recent research findings and progress made in the retinal disorders treatment market. Market players should focus on research and development activities and continue to explore the potential of different technologies that could be utilized for retinal disorders treatment.
Retinal Disorders Treatment Market: Overview
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 characterized by damaged 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 could lead to retinal detachment and blindness.
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The global retinal disorders treatment market is projected to expand at a moderate pace due to rise in prevalence of retinal disorders, owing to increase in geriatric patient population, new product launches, high annual cost of therapy (ACOT), and surge in number of eye care centers leading to increased product utilization
Retinal Disorders Treatment Market: Drivers
Rise in prevalence of retinal disorders due to increase in geriatric patient population boosts the growth of the global retinal disorders treatment market. Age-related macular degeneration (AMD) is the leading cause of irreversible blindness across the globe, affecting around 196 million in 2019 and anticipated to increase to 288 million by 2040. Prevalence estimates are on late AMD, involving neovascular AMD, and geographic atrophy. In the U.S., the number of patients suffering from AMD is 11 million. This number is expected to double to nearly 22 million by 2050.
Prevalence of other retinal disorders was 93 million people with diabetic retinopathy, 21 million people with diabetic macular edema, and 28 million people with vision-threatening diabetic retinopathy
New product launches and high annual cost of therapy (ACOT) also fuel the growth of the retinal disorders treatment market in terms of revenue. New anti-vascular endothelial growth factor (anti-VEGF) drugs have been launched to treat the neovascular (wet) form of AMD, along with numerous other retinal conditions. Anti-VEGFs have improved therapy outcomes for these conditions; however, these incur high cost.
In 2007, Lucentis became the first anti-VEGF launched in Canada and approved for wet AMD as well as other major retinal diseases. It was quickly recognized as the new gold standard for treatment. In 2013, Eylea was also approved for AMD and launched at a marginally lower price; other indications were added later.
Increase in Healthcare Spending and Improvement in Healthcare Infrastructure
Increase in R&D activities, rise in number of patients suffering from diseases, and rapid expansion of healthcare and biopharmaceutical industries in developed and developing countries are likely to boost advancements in therapies in the retinal disorders treatment market during the forecast period
For instance, Lucentis and Eylea accounted for 2.8% of total pharmaceutical sales in Canada in 2017
Market Segmentation: Retinal Disorders Treatment Market
In terms of indication, the global retinal disorders treatment market has been divided into macular degeneration, diabetic retinopathy, diabetic macular edema, and others. Macular degeneration has been split into dry macular degeneration and wet macular degeneration.
Based on therapeutic class, the global retinal disorders treatment market has been categorized into anti-VEGF agents and others
In terms of dosage form, the global retinal disorders treatment market has been segregated into gels, eye solutions, capsules & tablets, eye drops, and ointments
Based on distribution channel, the global retinal disorders treatment market has been classified into hospital pharmacies, retail pharmacies, and online sales
Each of the segments has been analyzed in detail for retinal disorders treatment trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The retinal disorders treatment market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2020 to 2030, along with market size estimations.
Regional Overview: Retinal Disorders Treatment Market
In terms of region, the global retinal disorders treatment market has been segmented into the U.S., Europe, China, Russia, and Rest of the world
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The U.S. dominated the global retinal disorder treatment market in 2019 due to highly structured healthcare industry, early adoption of new products, and presence of major players. The retinal disorders treatment market in China is projected to expand at the highest CAGR during the forecast period, owing to a large untapped population and rise in the adoption of treatment. Diagnosis and treatment rates have increased due to rise in disposable income and health awareness. This has led to an increase in the adoption of macular degeneration drugs.
Current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the report for the period from 2018 to 2030, along with their CAGRs for the period from 2020 to 2030
The study also offers a list of recommendations, highlights, and useful insights of the market, which are estimated to help new companies willing to enter the retinal disorders treatment market and existing companies to increase market share, and in the decision-making process
The report concludes with the company profiles section that includes key information about the major players in the global retinal disorders treatment market
Leading players analyzed in the report are
- Allergan plc
- Bayer AG, F.
- Hoffmann-La Roche Ltd.
- Graybug Vision, Inc.
- Kubota Pharmaceutical Holdings Co., Ltd.
- Novartis AG, Pfizer, Inc.
- Regeneron Pharmaceuticals, Inc.
- Santen Pharmaceutical Co., Ltd.
- Takeda Pharmaceutical Company Limited
Each of these players has been profiled in the report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments
Key Questions Answered in Retinal Disorders Treatment Report
- What is the sales/revenue generated by retinal disorders treatment providers across all regions during the forecast period?
- What are the opportunities in the global retinal disorders treatment market?
- What are the major drivers, restraints, opportunities, and threats in the global market?
- Which region is set to expand at the fastest CAGR during the forecast period?
- Which product segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
- What are the market positions of different companies operating in the global market?
Retinal Disorders Treatment Market – Segmentation
- Macular Degeneration
- Diabetic Retinopathy
- Diabetic Macular Edema
- Anti-VEGF Agents
- Eye Solutions
- Capsules & Tablets
- Eye Drops
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- Rest of the World (RoW)
TABLE OF CONTENT
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions and Research Methodology
3. Executive Summary: Global Retinal Disorders Treatment Market
4. Market Overview
4.1. Introduction & Overview
4.2. Market Dynamics
4.3. Global Retinal Disorders Treatment Market Analysis and Forecast, 2018–2030
5. Market Outlook
5.1. COVID-19 Pandemics Impact on Industry
5.2. Clinical Trial Analysis
5.3. Regulatory Scenario
5.4. Pipeline Analysis
5.5. Key Potential Customers
5.6. Key Vendor and Distributor Analysis
5.7. Key Industry Events
5.8. Reimbursement Scenario
5.9. Retinal Disorders: Epidemiology Forecast
6. Global Retinal Disorders Treatment Market Analysis and Forecast, by Indication
6.1. Introduction & Definition
6.2. Global Retinal Disorders Treatment Market Value (US$ Mn) Forecast, by Indication, 2018–2030
6.2.1. Macular Degeneration
22.214.171.124. Dry Macular Degeneration
126.96.36.199. Wet Macular Degeneration
6.2.2. Diabetic Retinopathy
6.2.3. Diabetic Macular Edema
6.3. Global Retinal Disorders Treatment Market Attractiveness Analysis, by Indication
7. Global Retinal Disorders Treatment Market Analysis and Forecast, by Therapeutic Class
7.1. Introduction & Definition
7.2. Global Retinal Disorders Treatment Market Value (US$ Mn) Forecast, by Therapeutic Class, 2018–2030
7.2.1. Anti-VEGF Agents
7.3. Global Retinal Disorders Treatment Market Attractiveness Analysis, by Therapeutic Class
8. Global Retinal Disorders Treatment Market Analysis and Forecast, by Dosage Form
8.1. Introduction & Definition
8.2. Global Retinal Disorders Treatment Market Value (US$ Mn) Forecast, by Dosage Form, 2018–2030
8.2.2. Eye Solutions
8.2.3. Capsules & Tablets
8.2.4. Eye Drops
8.3. Global Retinal Disorders Treatment Market Attractiveness Analysis, by Dosage Form
9. Global Retinal Disorders Treatment Market Analysis and Forecast, by Distribution Channel
9.1. Introduction & Definition
9.2. Global Retinal Disorders Treatment Market Value (US$ Mn) Forecast, by Distribution Channel, 2018–2030
9.2.1. Hospital Pharmacies
9.2.2. Retail Pharmacies
9.2.3. Online Sales
9.3. Global Retinal Disorders Treatment Market Attractiveness Analysis, by Distribution Channel
10. Global Retinal Disorders Treatment Market Analysis and Forecast, by Region
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