The anophthalmia and microphthalmia market is expected to reach USD 5,967.90 Million by 2030 at 4.70% CAGR during the forecast period 2022-2030.
Anophthalmia and microphthalmia mean the absence of an eye and the presence of a small eye within the orbit. Anophthalmia and microphthalmia are interchangeable. Whereas, microphthalmia is a disorder in which one or both eyes are abnormally small, while anophthalmia is the absence of one or both eyes. Anophthalmia and microphthalmia mostly occur during pregnancy. However, anophthalmia and microphthalmia often result in blindness or limited vision. It is a rare disorder and the severe case has treatment unavailability.
The major causes may include genetic mutations and abnormal chromosomes. Exposure to X-rays, chemicals, drugs, pesticides, toxins, radiation, or viruses, increases the risk of anophthalmia and microphthalmia. Anophthalmia and microphthalmia lead to optic disc dysplasia as well as non-ocular features like mental retardation, neurological abnormalities, and facial dysmorphisms.
The anophthalmia and microphthalmia market growth is majorly attributed to the increasing prevalence of the genetic disorders and eye-related disorders. Moreover, the increasing mental retardation, neurological abnormalities are expected to drive the Anophthalmia and Microphthalmia Market growth over the assessment period.
According to the World Health Organization (WHO), an estimated 253 million people live with vision impairment 36 million are blind and 217 million have moderate to severe vision impairment worldwide. An estimated 19 million children (below age 15) are vision impaired.
Furthermore, According to the WHO estimates, neurological abnormalities are responsible for 4.5%-11% of all illnesses including low or high-income economies. This is far higher as compared to the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years.
However, availability of expensive treatment and poor reimbursement policies in the developing regions of the world are some of the factors, which may hamper the market growth during the forecast period.
Sources: Annual reports, Press release, White paper, Company presentation
The anophthalmia and microphthalmia market is segmented on the basis by diagnosis, by treatment, and by the end user.
On the basis of the diagnosis, it is segmented into CT scan, MR scan, chromosome analysis, ultrasonography, and others.
On the basis of treatment, it is segmented into surgery and others.
On the basis of the end user, it is segmented into hospitals & clinics, research centers, and others.
The Americas dominate the anophthalmia and microphthalmia market owing to well-developed technology, increased patient pool with genetic disorders, high health care spending, and government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the Anophthalmia and Microphthalmia Market in this region.
Europe holds the second position in the anophthalmia and microphthalmia market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period.
Asia Pacific is the fastest growing anophthalmia and microphthalmia market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries like India and South Korea is likely to emerge as the fastest growing market across the globe. Furthermore, increasing demand for quality devices in the healthcare is projected to lead the use of advanced equipment, which, in turn, may increase the growth of the anophthalmia and microphthalmia market in the region.
On the other hand, in the Middle East and Africa, blood disorders have become a huge problem due to limited screening, ignorance of diseases, and poor access to treatment.
Some of key the players in the Anophthalmia and Microphthalmia Market are Bristol-Myers Squibb Company, NUSAPURE, ALLERGAN, Aerie Pharmaceuticals, Inc., Pfizer Inc., Valeant Pharmaceuticals International, Inc., Bayer AG, Genentech, Inc., Novartis AG , Regeneron Pharmaceuticals, Inc., Shire, and Santen Pharmaceutical Co., Ltd., and others.
Sources: Annual reports, Press release, White paper, and Company presentation