|Market Size in 2021||Market Forecast in 2028||CAGR (in %)||Base Year|
|USD 10,271.4 Million||USD 15,675.74 Million||7.30%||2021|
Retinal Disorder Treatment Market
The global retinal disorder treatment market size was worth USD 10,271.40 million in 2021 and is estimated to grow to USD 15,675.74 million by 2028, with a compound annual growth rate (CAGR) of approximately 7.30% over the forecast period. The report analyzes the retinal disorder treatment market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the retinal disorder treatment market.
The retina is a very sensitive and intricate element of the human eye system that serves as a light receiver and processor, converting light into neural impulses and transporting them to the brain for visual processing. Retinal function and structure are impacted by retinal illnesses such as diabetic retinopathy, age-related macular edema, retinoblastoma, degeneration, infectious retinitis, retinoschisis, retinal degeneration, and others. Over the last few decades, retinal problems have garnered a lot of attention from researchers and other professionals. The increased prevalence of retinal illnesses worldwide, as well as the demand for effective and economical treatment alternatives, has fueled the industry. In addition, the growing geriatric population is also expected to significantly impact the entire industry. Over the projected period, strong pipeline products are expected to be one of the primary drivers driving the market for retinal condition therapy. Other factors expected to drive the retinal disorder treatment market include technological developments and increased strategic alliances. Advances in technology and hopeful findings from research & development operations have contributed to the overall development of the global retinal disorder treatment market in recent years, a trend that is anticipated to last for the duration of the forecast.
The emergence of the COVID-19 pandemic is predicted to have a moderate impact on the worldwide retinal disorder treatment market's overall growth in 2020. While the primary focus is expected to remain on the creation of new vaccines, research and development operations in other medical fields are expected to continue as planned. It is also expected that research will be conducted to assess the occurrence of retinal changes in patients infected with the novel COVID-19 virus. In addition, doctors and specialists are anticipated to rely on telemedicine services due to the ongoing risk of getting the virus. Even though statistics indicate that individuals are willing to postpone treatment for retinal problems because of the ongoing epidemic.
Increasing new technologies is likely to pave the way for global market growth
In the next years, technological developments are expected to significantly influence the overall growth of the worldwide retinal disorder treatment market. In the coming decade, groundbreaking innovations and improvements in bionics, genetics, and stem-cell therapy are likely to revolutionize the future of retinal disorder treatment. Retinal degeneration has emerged as one of the leading causes of blindness or visual impairment in industrialized nations when preventable causes of blindness are recognized early, thanks to periodic checks and a robust healthcare ecosystem. Advances on multiple new fronts are likely to pave the door for new retinal disease treatments for all major types of retinal abnormalities.
High costs related to treatment may hamper the global market growth
In numerous developing countries, the market for the treatment of retinal illnesses has grown slowly due to a variety of problems, including the high expenses associated with those treatments, steep expenditures, and unreliability of the equipment used.
Wearable technology trends and investment in pain management bring up several growth opportunities
The market for treating retinal disorders is anticipated to develop as a result of the rising prevalence of inherited retinal illnesses. The global retinal disorder treatment market is anticipated to develop due to rising awareness and treatment utilization rates. The market is predicted to rise as people become more aware of the disease's diagnosis choices and available treatment options. The World Health Organization estimates that over 2.2 billion individuals worldwide have a vision issue. The enormous patient base experiencing eye problems is what fuels market expansion.
The global retinal disorder treatment market is segregated on the basis of type, dosage form, distribution channel, and region.
By type, the market is divided into macular degeneration, diabetic retinopathy, and others. Among these, the macular degeneration segment dominated the market in 2021and is expected to be the fastest-growing sector over the forecast period. One of the primary drivers driving category expansion is introducing new products to treat macular degeneration. Additionally, rising awareness of this type of retinal condition is likely to drive market growth throughout the projection period.
Based on dosage form, the market is divided into gels, eye solutions, capsules & tablets, eye drops, and ointments. Among these, the eye solutions segment dominated the market in 2021.
The distribution channel divides the market into hospital pharmacies, online pharmacies, and retail pharmacies. Over the forecast period, the hospital pharmacy segment is expected to develop fastest. This is because many people are treated and cared for at hospitals. Aside from that, better healthcare plans and reimbursement rules propel this industry. In addition, rising investments in the health sector in underdeveloped and developing economies are also fueling the industry.
|Report Attributes||Report Details|
|Report Name||Retinal Disorder Treatment Market Size Report|
|Market Size in 2021||USD 10,271.4 Million|
|Market Forecast in 2028||USD 15,675.74 Million|
|Growth Rate||CAGR of 7.30%|
|Number of Pages||188|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Santen Pharmaceutical Co., Ltd., REGENERON, Graybug Vision, Inc., Genentech, Inc., Shire (Takeda Pharmaceutical Company Limited), Bayer AG, Pfizer, Inc. and Acucela Inc.|
|Segments Covered||By Type, By Dosage Form, By Distribution Channel and By Region.|
|Historical Year||2015 to 2020|
|Forecast Year||2022 - 2028|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Rising prevalence of retinal disorders is likely to help North America dominate the global market
North America dominated the global retinal disorder treatment market in 2021. Eye illnesses are seen as a persistent issue in the United States and other countries throughout the world. Because of increased cases of macular degeneration, uveitis, diabetic retinopathy, and other diseases, North America accounted for the largest market. The rising prevalence of retinal diseases is likely to fuel the expansion of the retinal disorder treatment market in this area. Rising awareness and treatment-seeking rates are likely to drive the growth of the market. Furthermore, strong pipeline medicines to treat retinal illnesses are projected to provide considerable development possibilities in the market during the forecast period.
Over the forecast period, Asia Pacific regional market is expected to grow significantly in the retinal disorder treatment market. High unmet clinical requirements, the availability of efficient treatment options, increased disposable income, and greater knowledge of early diagnosis in developing nations can all be considered causes of this. In addition, the market has also been pushed by the rising prevalence of retinal illnesses worldwide and the demand for efficient & reasonably priced treatment options. Additionally, promising pipeline therapies to treat retinal disorders is anticipated to present the market with sizable potential prospects throughout the projected period.
The increased prevalence of retinal illnesses worldwide, as well as the demand for effective and economical treatment alternatives, has fueled the industry. In addition, the growing geriatric population is also expected to significantly impact the entire industry. Over the projected period, strong pipeline products are expected to be one of the primary drivers driving the market for retinal condition therapy.
According to the report, the global Retinal Disorder Treatment market was worth 10,271.40 (USD million) in 2021 and is predicted to grow to 15,675.74 (USD million) by 2028, with a compound annual growth rate (CAGR) of around 7.30%.
North America dominated the Retinal Disorder Treatment Market in 2021. Eye illnesses are seen as a persistent issue in the United States and other countries throughout the world. Because of increased macular degeneration, uveitis, diabetic retinopathy, and other diseases, America accounted for the largest market. The rising prevalence of retinal diseases is likely to fuel the expansion of the retinal disorder treatment market in this area.
Some of the main competitors dominating the Global Retinal Disorder Treatment market include - Santen Pharmaceutical Co., Ltd., REGENERON, Graybug Vision, Inc., Genentech, Inc., Shire (Takeda Pharmaceutical Company Limited), Bayer AG, Pfizer, Inc. and Acucela Inc.