TechSci Research report states that the forecast period of 2024-2028 is expected to witness an impressive growth rate in the Global Retinal Disorder Treatment Market. The market growth is being driven by various factors such as the increasing prevalence of retinal diseases, the growing aging population, rising awareness about ocular health, and early diagnosis and treatment of diseases. Moreover, the use of gene therapies and cell therapies is expected to create lucrative opportunities for the growth of the global retinal disorder treatment market. Gene therapy is a promising new treatment option for retinal disorders caused by genetic mutations, where a functional copy of the defective gene is introduced into the patient’s cells to correct the mutation. Stem cell therapy is another promising approach for treating retinal disorders, where stem cells can be used to replace damaged retinal cells or stimulate the growth of new retinal tissue. Researchers have successfully treated retinal degeneration in animal models using stem cells, and clinical trials are underway to test the safety and efficacy of this approach in humans.
The Global Retinal Disorder Treatment Market is expected to experience remarkable growth in the forecast period of 2024-2028, with the development of artificial retina being a significant driving factor. An artificial retina, also known as a retinal implant, is a device that can restore vision in individuals with severe retinal damage. It comprises a small chip that is implanted surgically into the eye and an external device that transmits visual information to the chip. The chip then stimulates the remaining retinal cells to create a visual image. Currently, there are several retinal implants available for clinical use.
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However, despite the potential for growth, the global retinal disorder treatment market faces significant obstacles, such as accurate diagnosis and access to treatment and care. Many retinal disorders have similar symptoms, making it challenging to differentiate between them. Furthermore, some retinal disorders may not cause symptoms until they have progressed to an advanced stage, which makes early diagnosis crucial in preventing vision loss. Therefore, there is a need for more accurate and efficient diagnostic tools. Moreover, access to treatment is a significant challenge, as some treatments are expensive and may not be covered by insurance, while others require specialized equipment and expertise that may not be available in all areas. This can result in long wait times and delayed treatment.
The Global Retinal Disorder Treatment Market can be segmented by type, dosage form, distribution channel, and region. Based on type, it can be categorized into macular degeneration, diabetic retinopathy, and others, with the macular degeneration segment dominating the market in 2022 and projected to maintain its dominance through 2028. Age-related macular degeneration (AMD) is one of the most common retinal disorders, affecting millions of people worldwide. AMD is a progressive condition that causes damage to the macula, the small central part of the retina responsible for detailed vision. While there is no cure for AMD, several treatments are available that can slow the progression of the disease and improve vision. Anti-VEGF therapy is one of the most promising treatments for AMD, which involves injecting a medication that blocks the activity of VEGF, reducing inflammation in the retina, and preventing the growth of new blood vessels. Other treatments for AMD include laser therapy and photodynamic therapy, with lifestyle changes such as quitting smoking, maintaining a healthy diet, and exercising regularly also helping to slow the progression of the disease.
However, diabetic retinopathy segment is expected to register the highest growth during the forecast period owing to the increasing prevalence of diabetes among the population.
In terms of distribution channel, the global retinal disorder treatment market can be classified into hospital pharmacy, online pharmacy, and retail pharmacy. The hospital pharmacy segment dominated the market in 2022 and will continue maintaining its dominance through 2028. This can be ascribed to the growing use of drugs that require an injectable form of administration, which makes access to a hospital pharmacy easier. However, increasing internet penetration, growing smartphone and internet users worldwide will support the growth of global retinal disorder treatment market.
Major companies operating in the Global Retinal Disorder Treatment Market are:
- Santen Pharmaceutical Co. Ltd.
- Regeneron Pharmaceuticals Inc.
- Graybug Vision, Inc.
- Shire (Takeda Pharmaceutical Company Limited)
- Bayer AG
- Genentech, Inc.
- Acucela Inc.
- Pfizer, Inc.
- Kubota Pharmaceutical Holdings Co., Ltd.
- Allergan plc. (AbbVie Inc.),
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“Asia Pacific region is expected to register the highest growth in the global retinal disorder treatment market on account of the growing population in the region which is susceptible to various kinds of retinal disorders especially in China and India. Additionally, aging population in the region in countries like Japan, India, and China which is susceptible to diseases like diabetic retinopathy, age related macular degeneration, among others.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Retinal Disorder Treatment Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Type (Macular Degeneration, Diabetic Retinopathy, Others), By Dosage Form (Gels, Eye Solution, Capsules & Tablets, Eye Drops, Others), By Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy), By Region and Competition”, has evaluated the future growth potential of Global Retinal Disorder Treatment Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Retinal Disorder Treatment Market.
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