According to a report, “Retinal Disorder Treatment Market Size, Share & Trends Analysis Report By Type (Macular Degeneration, Diabetic Retinopathy), By Dosage Form, By Distribution Channel, By Product Type, And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc. The global retinal disorder treatment market size is expected to reach USD 15.8 billion by 2026, according to a new report by Grand View Research, Inc., registering a CAGR of 7.6% over the forecast period. Increasing prevalence and incidence of retinal disorders is considered to be the primary growth driver.
According to data published in the NCBI in 2018, around 18.0% of diabetic patients in India suffer from diabetic retinopathy. Similarly, the 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 the U.S., occurring in more than 10% of the population aged 65-74 years. Moreover, the NCBI estimates that by 2040, individuals with early and late AMD will range between 14.9-21.5 million and 3.9-4.8 million respectively in Europe.
Several studies in the world have substantiated the fact that geriatric population is on the rise all over. For instance, 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. This rise in the geriatric population is one of the most important factors which is helping the market growth rate to increase at a faster pace. Along with this, growing awareness about the retinal disorders is also expected to propel the market growth over the forecast period.
Further key findings from the report suggest:
Collaborations between key players form a major part of expansion strategies of major companies and organizations. For instance, in June 2020, Santen Pharmaceutical Co., Ltd. and jCyte Inc. announced the conclusion of an exclusive licensing contract covering the development, registration and commercialization rights in Japan, Asia and Europe to jCell, a first-in-class investigational therapy, currently in clinical development for retinitis pigmentosa
New products and treatment processes are immensely beneficial not only for the major organizations but also for the consumers. For instance, in February 2020, Regeneron Pharmaceuticals, Inc. announced positive two-year results from the Phase 3 PANORAMA trial evaluating EYLEA (aflibercept) Injection 2 mg (0.05 mL) in patients with moderately severe to severe non-proliferative diabetic retinopathy (NPDR)
By type, macular degeneration held the dominant share in 2018 and is estimated to be the fastest growing segment over the forecast period. Rising prevalence of macular degeneration globally is the major factor driving the segment
In 2018, dry macular degeneration emerged as the largest segment and is expected to register the highest CAGR through 2026
On the basis of dosage form, eye solutions formed the leading segment in 2018. Eye drops are estimated to be the fastest growing segment over the forecast period owing to strong presence of pipeline products
Based on distribution channel, hospital pharmacies held the largest share in 2018 while online pharmacy will exhibit the fastest growth by 2026
On the basis of region, North America held the dominant revenue share in 2018 owing to presence of key players in the market. Asia Pacific is estimated to witness the fastest CAGR of 9.5% from 2019 to 2026
Research and development and collaborations are some of the crucial strategies adopted by players in the market.
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Grand View Research has segmented the global retinal disorder treatment market based on type, dosage form, distribution channel, and region:
Retinal Disorder Treatment Type Outlook (Revenue, USD Million, 2014 – 2026)
Dry Macular Degeneration
Wet Macular Degeneration
Retinal Disorder Treatment Dosage Form Outlook (Revenue, USD Million, 2014 – 2026)
Capsules & Tablets
Retinal Disorder Treatment Distribution Channel Outlook (Revenue, USD Million, 2014 – 2026)
Retinal Disorder Treatment Regional Outlook (Revenue, USD Million, 2014 – 2026)
Middle East & Africa
List of Key Players of Retinal Disorder Treatment Market
- Santen Pharmaceutical Co., Ltd.
- Graybug Vision, Inc.
- Shire (Takeda Pharmaceuticals)
- Bayer AG
- Genentech, Inc.
- Acucela Inc.
- Pfizer Inc
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