The global retinal disorder treatment market size is expected to reach USD 15.8 billion by 2026, according to a new report by Grand View Research, Inc., registering a CAGR of 7.6% over the forecast period. Increasing prevalence and incidence of retinal disorders is considered to be the primary growth driver.
According to data published in the NCBI in 2018, around 18.0% of diabetic patients in India suffer from diabetic retinopathy. Similarly, National Eye Institute estimates that by 2030 and 2050, around 10 and 14 million people respectively will suffer from diabetic retinopathy in America. Based on an article published by WebMD in 2019, age-related macular degeneration (AMD) is the leading cause of irreversible visual loss in U.S., occurring in more than 10% of the population aged 65-74 years. Moreover, the NCBI estimates that by 2040, individuals with early and late AMD will range between 14.9-21.5 million and 3.9-4.8 million respectively in Europe.
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Increasing geriatric population is also anticipated to be a major factor governing the overall market. According to data published in the World Population Prospects: 2019 Revision, around 1 in 11 and 1 in 4 people living in North America and Europe, respectively, will be aged 65 years and above by 2050.
Growing awareness of retinal disorders is also expected to propel market growth over the forecast period. For instance, the Institut de la Mácula started an awareness campaign on age-related macular degeneration in 2019. The primary aim of this campaign is to create awareness about the disease, benefits of early detection, and available treatment options in the market.
Further key findings from the report suggest:
• By type, macular degeneration held the dominant share in 2018 and is estimated to be the fastest growing segment over the forecast period. Rising prevalence of macular degeneration globally is the major factor driving the segment
• In 2018, dry macular degeneration emerged as the largest segment and is expected to register the highest CAGR through 2026
• On the basis of dosage form, eye solutions formed the leading segment in 2018. Eye drops are estimated to be the fastest growing segment over the forecast period owing to strong presence of pipeline products
• Based on distribution channel, hospital pharmacies held the largest share in 2018 while online pharmacy will exhibit the fastest growth by 2026
• North America held the dominant revenue share in 2018 owing to presence of key players in the market. Asia Pacific is estimated to witness the fastest CAGR of 9.5% from 2019 to 2026
• Research and development and collaborations are some of the crucial strategies adopted by players in the market.
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Grand View Research has segmented the global retinal disorder treatment market based on type, dosage form, distribution channel, and region:
Retinal Disorder Treatment Type Outlook (Revenue, USD Million, 2014 - 2026)
• Macular Degeneration
o Dry Macular Degeneration
o Wet Macular Degeneration
• Diabetic Retinopathy
• Others
Retinal Disorder Treatment Dosage Form Outlook (Revenue, USD Million, 2014 - 2026)
• Gels
• Eye Solutions
• Capsules & Tablets
• Eye Drops
• Ointments
Retinal Disorder Treatment Distribution Channel Outlook (Revenue, USD Million, 2014 - 2026)
• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy
Retinal Disorder Treatment Regional Outlook (Revenue, USD Million, 2014 - 2026)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia Pacific
o Japan
o China
o India
o South Korea
o Singapore
o Australia
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o South Africa
o UAE
o Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.