Retinal Disorder Treatment Market is Booming Worldwide According to New Research Report

Retinal Disorder Treatment Market: Introduction

According to the report, the global retinal disorder treatment market was valued at ~US$ 9.2 Bn in 2018 and is projected to expand at a CAGR of ~8% from 2019 to 2027. Retinal disorders include macular degeneration, diabetic retinopathy, diabetes macular edema, and retinal vein occlusion. 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. It is caused by damage to the blood vessels in the retina. The damaged blood vessels and nerves lead to vision impairment, blurring of vision, and eye hemorrhage. If left untreated, it may lead to retinal detachment and blindness.

Different types of retinal disorder treatments provided by major manufacturers include anti-VEGF agents and others (anti-inflammatory drugs, etc.). Growth of the retinal disorder treatment market can be attributed to rise in prevalence of retinal disorders and a strong product pipeline. North America dominated the retinal disorder treatment market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured health care industry, early new product adoption, high prevalence rate of retinal disorders, and presence of major players are expected to drive the market in Europe. Asia Pacific is likely to be a highly lucrative market for retinal disorders and it is expected to expand at a high CAGR during the forecast period.

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Rise in Prevalence of Retinal Disorder and New Product Launches to Drive Market

Rise in prevalence of retinal disorders due to increase in geriatric patient population is likely to drive the market. According to a recent study, age-related macular degeneration is likely to affect approximately 196 million by 2020 and increase to 288 million by 2040 globally. Increase in prevalence of other retinal diseases also helps to fuel the growth of this market. For instance, 93 million people have diabetic retinopathy, 21 million people are suffering from diabetic macular edema, and 28 million cases of vision-threatening diabetic retinopathy have been reported. New product launches and high annual cost of therapy is also major factor for boosting the growth of the retinal disorder treatment market. In November 2019, Santen Pharmaceutical Co., Ltd. launched Alesion LX Ophthalmic Solution in Japan.

Increase in Prevalence of Macular Degeneration in Geriatric Population

Based on disease indication, the retinal disorder treatment market has been divided into macular degeneration, diabetic retinopathy, diabetic macular edema, and others (retinal vein occlusion, etc.). The macular degeneration segment has been bifurcated into wet macular degeneration and dry macular degeneration. The macular degeneration segment dominated the retinal disorder treatment market in 2018 and the trend is projected to continue during the forecast period. Increase in prevalence of macular degeneration in geriatric population is anticipated to accelerate the growth of the segment. According to a recent study, AMD currently affects around 34 million people in the European Union (EU) and 22 million people in the five most populous countries in Europe alone: Germany, France, the U.K., Italy, and Spain. The diabetic retinopathy segment is expected to expand at a high CAGR during the forecast period due to increase in incidence of diabetes among people.

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High Demand for Anti-VEGF Products

In terms of therapeutic class, the retinal disorder treatment market has been classified into anti-VEGF agents and others. The anti-VEGF agents segment dominated the retinal disorder treatment market due to increase in demand for anti-VEGF products such as Lucentis and Eylea. The highest selling anti-VEGF drug in the macular degeneration treatment market was Bayer/Regeneron’s Eylea, which recorded sales of US$ 6.75 Bn globally in 2018. Other manufacturers are focusing on developing new anti-VEGF products. For instance, in October 2019, Novartis AG received USFDA approval for brolucizumab (RTH258) in the treatment of wet age-related macular degeneration (AMD). The others segment includes anti-inflammatory drugs such as Visudyne (Verteporfin), steroids, and nutritional supplements such as antioxidant vitamins A, C, and E.

Eye Solution is Most Preferred Dosage Form

Based on dosage form, the retinal disorder treatment market has been categorized into gels, eye solutions, capsules & tablets, eye drops, and ointments. The eye solutions segment dominated the global retinal disorder treatment market due to availability of major retinal disorder treatment products in solution form, such as Eylea, Lucentis, and others. Eye drops is likely to be a highly lucrative segment and it is anticipated to expand at a high CAGR during the forecast period.

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Retail Pharmacies to Lead Global Market

In terms of distribution channel, the retinal disorder treatment market has been categorized into hospital pharmacies, retail pharmacies, and online sales. The retail pharmacies segment dominated the retinal disorder treatment market in terms of revenue in 2018. The trend is expected to continue during the forecast period. The retail pharmacies segment dominated the global market due to its widespread network, ease of access, and diverse product offerings that include both prescription as well as OTC ophthalmic drugs. Online sales is projected to be a lucrative segment of the global retinal disorder treatment market during the forecast period. The segment is anticipated to expand at a significant CAGR from 2019 to 2027. The changing shift toward the use of electronic payment modes is anticipated to result in high market share of the online sales segment during the forecast period.

Retinal Disorder Treatment Market in North America to Witness Significant Growth

In terms of region, the retinal disorder treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the retinal disorder treatment market in 2018, followed by Europe. North America accounted for a major share of the retinal disorder treatment market in 2018, owing to increase in number of people with retinal disorders, new product launches, and presence of major players. According to recent stats, in the U.S., more than 11 million people are suffering from age-related macular degeneration and this number is expected to double to nearly 22 million by 2050.

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The retinal disorder treatment market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to increase in demand for retinal disorder treatment products in countries such as China and Japan, improvement of healthcare infrastructure in terms of better facilities, and rise in demand for advanced products in the region.

Competition Landscape

The retinal disorder treatment market is fragmented in terms of number of players. Key players in the market include Santen Pharmaceutical Co., Ltd., Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Pfizer, Inc., Allergan plc, Shire (Takeda Pharmaceutical Company Limited), Bayer AG, Graybug Vision, Inc., Novartis AG, and Acucela Inc. (Kubota Pharmaceutical Holdings Co., Ltd.).

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