Retinal Disorder Treatment Market Growth & Trends
The global retinal disorder treatment market size is expected to reach USD 25.69 billion expanding at a CAGR of 9.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growth in the market is fueled by the increasing prevalence of retinal disorders around the world and the unmet need for affordable and efficient treatments. Furthermore, improved funding by regulatory bodies for R&D associated with ocular disorders is expected to further drive the market growth.
Retinal diseases are one of the leading cause of visual impairment among the population across the globe. According to WHO, in 2022, a near or distance vision impairment affects at least 2.2 billion people worldwide. Nearly half of these cases, or around 1 billion, involved vision impairment that either could have been avoided or is still unaddressed. Factors such as changing life styles, increased life expectancy, and escalating prevalence of systemic diseases likehypertension and diabetes mellitus are the most common causes of retinal disorders. This demonstrates an unmet need amongst retinal disorder patients for treatment of the condition.
Rising geriatric population is acting as a driver for the market, age-related macular degeneration (AMD) is one of the leading cause for loss of vision in people aged over 65 years. AMD is characterized by degeneration area of the retina known as the macula which is responsible for central vision. Growing elderly population is expected to create a wider patient pool for treatment of AMD. For instance, according to WHO, in 2021, by 2030, 1 in every 6 people in the world will be aged 60 years or over. Furthermore, over this period of time the population aged over 60 years is expected to increase from 1 billion in 2020 to 1.4 billion in 2030.
The high cost associated with retinal disorder treatment poses a threat for the growth of market. However, increasing efforts from key players operating in the market for developing new products for enhancement of their product pipeline are expected to drive the market. For instance, in January 2022, Genentech’s Vabysmo was approved by FDA, the first in the class bispecific antibody for the treatment of wet age-related macular degeneration and diabetic macular edema. The launch of novel products is expected to propel the market growth.
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Retinal Disorder Treatment Market Segmentation
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, 2018 - 2030)
· Macular Degeneration
o Dry Macular Degeneration
o Wet Macular Degeneration
· Diabetic Retinopathy
Retinal Disorder Treatment Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)
· Eye Solutions
· Capsules & Tablets
· Eye Drops
Retinal Disorder Treatment Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
· Hospital Pharmacy
· Online Pharmacy
· Retail Pharmacy
List of key players in retinal disorder treatment market
· Santen Pharmaceutical Co., Ltd.
· Regeneron Pharmaceuticals Inc.
· Graybug Vision, Inc.
· Shire (Takeda Pharmaceutical Company Limited)
· Bayer AG
· Allergan plc. (AbbVie Inc.)
· Genentech, Inc. (F. Hoffmann-La Roche Ltd.)
· Acucela Inc.
· Pfizer, Inc.
· Kubota Pharmaceutical Holdings Co., Ltd.,
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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