Retinal Disorders Treatment Market: Introduction
According to the report, the global retinal
disorders treatment market was valued at US$ 9.18 Bn
in 2019 and is projected to expand at a CAGR of ~7% from 2020 to 2030.
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.
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. In terms of indication, the global retinal disorders treatment
market has been classified into macular degeneration, diabetic retinopathy,
diabetic macular edema, and others. The macular degeneration segment has been
bifurcated 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 divided into gels, eye
solutions, capsules & tablets, eye drops, and ointments.
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Based on distribution channel, the global retinal disorders treatment
market has been segregated into hospital pharmacies, retail pharmacies, and
online sales. Rise in prevalence of retinal disorders due to increase in
geriatric patient population boosts the growth of the global retinal disorders
treatment market. The U.S. dominated the global retinal disorders treatment
market in 2019, and the trend is anticipated to continue during the forecast
period. Well-established healthcare infrastructure and early adoption of advanced
technologies are the factors expected to fuel the growth of the market in the
region. Moreover, rise in prevalence of various types of retinal disorder leads
to increase in demand for treatment.
China is likely to be a highly lucrative market for retinal disorders
treatment during the forecast period. Diagnosis and treatment rates have
increased due to a rise in disposable income and health awareness. This has led
to an increase in the adoption of macular degeneration drugs
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Rise in Prevalence of Retinal Disorders Due to
Increase in Geriatric Patient Population to Drive Global Market
Age is a prominent risk factor for age-related macular degeneration. The
risk of developing advanced age-related macular degeneration increases
from 2% in people aged between 50 and 59 to
nearly 30% for those over 75. The prevalence of other
retinal disorders was 93 million people with diabetic
retinopathy, 21 million people diabetic macular edema and 28 million
people with vision-threatening diabetic retinopathy. Increase in R&D
activities, rise in the number of patients suffering from diseases, and rapid
expansion of healthcare and biopharmaceutical industries in developed and
developing countries are projected to boost advancements in therapies in the
AMD treatment market during the forecast period. For instance, Lucentis and
Eylea accounted for 2.8% of total pharmaceutical sales in Canada in
2017.
Macular Degeneration to Dominate Global 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 bifurcated into dry
macular degeneration and wet macular degeneration. The macular degeneration
segment dominated the market in terms of revenue in 2019. The rise in
prevalence of macular degeneration is anticipated to drive the segment during
the forecast period. For instance, the number of people living with macular
degeneration is expected to reach 196 million globally by 2020
and increase to 288 million by 2040.
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Anti-VEGF Agents to be Main Therapeutic Class
Based on therapeutic class, the global retinal disorders treatment
market has been categorized into anti-VEGF agents and others. The anti-VEGF
agents dominated the global retinal disorders treatment market in 2019. Major
market products such as Avastin and Eylea are included in the anti-VEGF drug
class. Increase in demand for these products in the treatment of retinal
disorders and strong product pipeline are likely to drive the segment. However,
the others segment, which includes anti-inflammatory drugs, is projected to
expand at the highest CAGR from 2020 to 2030. The increase in the use of
anti-inflammatory drugs for pain relief is anticipated to augment the segment.
Eye Solutions to be Preferred Dosage Form
In terms of dosage form, the global retinal disorders treatment market
has been divided into gels, eye solutions, capsules & tablets, eye drops,
and ointments. The eye solutions segment dominated the global retinal disorders
treatment market in 2019. However, the eye drops segment is expected to expand
at the highest CAGR during the forecast period. The segment is likely to grow
at a rapid pace due to increase in demand for eye drops for treatment of
retinal diseases in emerging countries such have China, India, and Brazil.
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Retail Pharmacies to Emerge as Major
Distribution Channel
Based on distribution channel, the global retinal disorders treatment
market has been segregated into hospital pharmacies, retail pharmacies, and
online sales. The retail pharmacies segment dominated the market in terms of
revenue in 2019 due to wide network, ease of access, and diverse product
offerings, including prescription and OTC ophthalmic drugs. However, the shift
toward the use of electronic payment modes is projected to boost the growth of
the online sale segment during the forecast period.
U.S. to Dominate Global Market
The global retinal disorders treatment market has been segmented into
five major regions/country: the U.S., Europe, China, Russia, and Rest of the
World. The U.S. dominated the global market in 2019, followed by Europe. The
U.S. accounted for a major share of the global retinal disorders treatment
market in 2019. Well-developed healthcare infrastructure, high healthcare
expenditure, and adoption of branded drugs to treat retinal disorder disorders
are the key factors attributed to the country’s significant share of the global
market.
The retinal disorders treatment market in China is anticipated to expand
at a high CAGR from 2020 to 2030. There have been significant unmet medical
needs in the region. Furthermore, healthcare expenditure is increasing in
developing markets. Key players are making investments to establish their
operations in China. This, in turn, is projected to augment the market in the
country.
Competition Landscape
Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., and Novartis
AG are the three major companies operating in the global retinal disorders
treatment market. The global retinal disorders treatment market is fragmented
in terms of number of players. Key players in the global market include 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., and Takeda
Pharmaceutical Company Limited. New product development through robust
R&D activities and mergers & acquisitions are key strategies adopted by
these players to gain a competitive advantage in the global retinal disorders
treatment market.
Global Retinal Disorders Treatment Market:
Segmentation
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