Retinal Disease Therapeutics Market Size, Share, Growth Analysis, By Type(Macular degeneration, Diabetic retinopathy, others), By Dosage forms(Gels, Eye solutions, Capsules & Tablets, Eye drops), By Distribution Channel(Hospital Pharmacy, Online Pharmacy, Retail Pharmacy), By Region - Industry Forecast 2024-2031

Retinal Disease Therapeutics Market size was valued at USD 11.49 billion in 2019 and is poised to grow from USD 12.57 billion in 2023 to USD 25.69 billion by 2031, growing at a CAGR of 9.3% in the forecast period (2024-2031).

The 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. 'Novartis International AG', 'Roche Holding AG', 'Bayer AG', 'Genentech, Inc.', 'Allergan plc', 'Regeneron Pharmaceuticals, Inc.', 'F. Hoffmann-La Roche Ltd', 'Pfizer Inc.', 'Biogen Inc.', 'AbbVie Inc.', 'Bausch Health Companies Inc.', 'Spark Therapeutics, Inc.', 'Santen Pharmaceutical Co., Ltd.', 'Acucela Inc.', 'Alcon Inc.', 'Adverum Biotechnologies, Inc.', 'Clearside Biomedical, Inc.', 'Kodiak Sciences Inc.', 'Graybug Vision, Inc.', 'Ocugen, Inc.'

Increased Prevalence of Disorders Related to the EyesThe prevalence of eye-related illnesses is rising, particularly in developed countries, which will drive the 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 retinal disease therapeutics market growth during the forecast period.

Emergence of High-End Technologies to Support Market Development

North America is expected to lead the 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 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 market.