What is the global market size of Retinal Disease Therapeutics Market?

Global Retinal Disease Therapeutics Market size was valued at USD 11.49 billion in 2021 and is poised to grow from USD 12.57 billion in 2022 to USD 25.69 billion by 2030, growing at a CAGR of 9.3% in the forecast period (2023-2030).

Retinal Disease Therapeutics Market Size

Retinal Disease Therapeutics Market Insights

Retinal Disease Therapeutics Market size was valued at USD 12.57 Billion in 2023 and is poised to grow from USD 13.74 Billion in 2024 to USD 28.08 Billion by 2032, growing at a CAGR of 9.3% during the forecast period (2025-2032).

Retinal disorders are a growing issue in both developed and developing nations, affecting over 253 million people worldwide, and are expected to place a significant financial strain on the healthcare sector in the years to come. Since 81 percent of patients with vision impairment are over 50, the increased life expectancy of the population is predicted to place tremendous pressure on the ophthalmic care business. The number of cases of retinal illnesses such as diabetic retinopathy, diabetic macular edema, etc. is increasing as a result of the increased incidence of diabetes in emerging economies. During the projected period, the market is estimated to rise as more skilled experts become available around the globe that specialize in the treatment of retinal diseases. Additionally, it is expected that by the end of 2028, the growth of the market would be aided by improved reimbursement policies in various nations for the expensive treatment of retinal illnesses.

US Retinal Disease Therapeutics Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

The global retinal disease therapeutics market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For instance, in October 2018, the University of Florida Research Foundation and the University of Pennsylvania reached an agreement with Ophthotech Corporation (IVERIC bio) to develop and market an adeno-associated virus (AAV) gene therapy product for the treatment of Best Vitelliform Macular Dystrophy (BVMD). The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective and customized solutions for students. For instance, in May 2019, the FDA approved REGENERON's Eylea (aflibercept) injectable to treat all phases of diabetic retinopathy, lowering the risk of blindness in patients. 'Regeneron Pharmaceuticals, Inc. (USA) ', 'Roche Holding AG (Switzerland) ', 'Novartis AG (Switzerland) ', 'Allergan (part of AbbVie) (USA) ', 'Bayer AG (Germany) ', 'Oculis (Switzerland) ', 'REGENXBIO Inc. (USA) ', 'Adverum Biotechnologies, Inc. (USA) ', 'Kodiak Sciences Inc. (USA) ', 'EyePoint Pharmaceuticals, Inc. (USA) ', 'Apellis Pharmaceuticals, Inc. (USA) ', 'Iveric Bio, Inc. (USA) (Acquired by Astellas) ', 'Annexon Biosciences (USA) ', 'Hemera Biosciences (USA) (Acquired by Roche) ', 'Gyroscope Therapeutics (UK) (Acquired by Novartis) ', 'Graybug Vision, Inc. (USA) ', 'Clearside Biomedical, Inc. (USA) ', 'Ocuphire Pharma, Inc. (USA) ', 'Lineage Cell Therapeutics, Inc. (USA) ', 'Ocugen, Inc. (USA)'

Increased Prevalence of Disorders Related to the EyesThe prevalence of eye-related illnesses is rising, particularly in developed countries, which will drive the global market for retinal medications over the forecast period. According to an update from the American Academy of Ophthalmology, approximately 93 million people worldwide had diabetic retinopathy in 2016, with 4.2 million of those patients being Americans. According to the NCBI, by 2040, there will be 14.9 to 21.5 million people with early AMD and 3.9 to 4.8 million people with late AMD in Europe. Increasing health education activities regarding eye disorders to seek early treatment and prevent vision impairment in developing regions are also expected to fuel the global retinal disease therapeutics market growth during the forecast period.

Emergence of High-End Technologies to Support Market Development: Retinal gene therapy is typically used to treat inherited retinal disorders. Through RPE65 gene mutation, gene therapy can improve vision impairment. Patients with type 2 Leber's congenital amaurosis are treated with Luxturna, a recently developed gene therapy. This condition is a hereditary disease that impairs vision at birth and creates a degeneration that is quite progressive. Many retinal gene therapies are currently in the clinical trial stage and involve recombinant viruses. Over the evaluation period, from 2022 to 2028, this factor is projected to boost the global retinal disease therapeutics market.

North America is expected to lead the global market for treating retinal illnesses, due to a higher rate of treatment seeking and higher uptake of retinal disease treatment choices. Owing to substantially higher prevalence of retinal illnesses and higher rate of treatment seeking, Europe is expected to be the second most attractive market for the treatment of retinal disorders. Due to rapidly rising disease awareness and increased product penetration, Asia-Pacific is expected to have the fastest growth in the global market for treating retinal diseases. India and China, two of the world's fastest-growing economies, are also projected to contribute to the market growth for treating retinal diseases in the APAC region. Latin America’s market is expected to witness steady growth due to increased diagnosis of the condition. Due to low rates of treatment seeking, limited product penetration, and low rates of diagnosis, the Middle East and Africa have the least market share in the global market.