Retina Health Market: Information by Treatment (Drugs, Therapy, and Surgery), by Disease Indication (Age-Related Macular Degeneration, Diabetic Retinopathy, Inherited Retinal Diseases, Retinoblastoma, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2030

Retina Health Market Overview:

The Retina Health Market is expected to reach USD 24.22 billion by 2030 and register a CAGR of 7.01% during the forecast period of 2022 to 2030. Retina refers to the thin layer present at the back of the eye which is responsible for the conversion of the light that enters the eye into electrical signals that can be processed into images by the brain. A healthy retina is essential for the prevention of vision impairments and even blindness. Macular degeneration and diabetic retinopathy are two common major retinal disorders affecting millions across the globe. The growth of the global retina health market is attributed to the growing prevalence of retinal diseases across the globe, and the rising number of strategic initiatives. Furthermore, increasing initiatives by public and private organizations to drive awareness regarding retinal diseases is expected to create lucrative growth opportunities for the market in the forecast period. However, the lack of awareness regarding retinal diseases is anticipated to hamper the market growth.

Impact of COVID-19

The pandemic has affected the business landscape for many organizations around the world. The supply chain in the retina health market is the key to fulfilling customer demands. As a result of the pandemic, several countries-imposed import and export restrictions. This also affected the healthcare industry as certain nations rely on others for raw material supply and technology. The COVID-19 had a negative impact on production of retina health globally in 2020. This was due to international trade restrictions and border closures which significantly impacted the supply chain of the market. For instance, US relies heavily on China and India for procurement of ingredients and final products for ophthalmic products. Moreover, the trade restrictions and manufacturing interruptions caused by the pandemic affected the retina health product manufacturing as well. Moreover, Key companies such as Novartis (Switzerland), Bausch Health Companies Inc. (Canada), Alcon (Switzerland), and others are highly dependent on several regional markets for revenue generation.

However, the pandemic and the worldwide slowdown have hampered the company's expansion in these areas in 2020. Moreover, several clinical trials for retina health disorders were halted due to pandemic, which further impacted the development of new products. The ophthalmic healthcare services tried to minimize the number of patients attending hospital as medical retina clinics patients are often elderly and have comorbid conditions. Thus, owing to high risk of COVID-19 infection, only high-risk patients for visual loss were being treated. Furthermore, several patients remained reluctant to seek medical attention in the pandemic and deferral of non-urgent medical procedures led to delay and cancellation of orders by many eye care professionals.

Market Dynamics

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  Growing prevalence of retinal diseases across the globe
  
  
  
  • The growing prevalence of retinal diseases including Age-Related Macular Degeneration (AMD), diabetic retinopathy, retinitis pigmentosa, and retinal detachment is one of the major factors driving the retina health market. In addition, the growing incidences of vision impairment and rising myopic population, particularly during the COVID-19 pandemic, have further contributed to the market growth. This is due to the rising usage of screens and joining virtual meetings while working from home leading to the growing prevalence of myopia attributable to an increased risk of various progressive eye disorders such as AMD.
  
  
  
  


• Rising number of strategic initiatives

Restraints

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  Lack of awareness regarding retinal diseases
  
  
  
  • The lack of awareness regarding symptoms, ignorance, and not seeking timely diagnosis & treatment for retina diseases is anticipated to hamper the market growth. In October 2021, the WHO stated that 2.2 billion people globally suffer from eye impairment. However, nearly half of them could have been prevented by receival of proper treatment on time. The lack is awareness is more in the developing regions of the world where the population is not conditioned to understand eye problems beyond the need to wear glasses.
  
  
  
  

Value Chain Analysis

The global retina health market is growing at a significant rate and is expected to continue growing at the same rateSome major factors for growth include the growing geriatric population globally and the increasing prevalence of retinal diseases. Moreover, the value chain analysis for the retina health market comprises four major components that start with the research and product development (R&D), followed by the manufacturing of the products, distribution & sales, and ends with post-sales monitoring.

Retina Health Market Segment Overview

The global retina health market has been divided based on treatment and disease indication.

By Treatment

Based on treatment, the market is segmented into drugs, therapy, and surgery.

Global Retina Health Market Share (%), by Treatment, 2021

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    Drugs

    
    
  
  
  
  

  Treatment using medication is considered one of the safest and most economical procedures in treating retinal illness. Moreover, the intake of medicines is effective and is a non-invasive procedure, hence it is opted for by most patients. During the screening and initial phase of the disease, drugs are considered the most prominent way of administering a drug.

  
  
  
  
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    Therapy

    
    
  
  
  
  

  Therapy is a procedure anticipated to cure a disorder by psychological means. The retinal disorders differ in prevalence, diagnosis, and etiology which determines the recommendations related to product development, clinical trial design, and preclinical testing, etc.

  
  
  
  
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    Surgery

    
    
  
  
  
  

  Retinal surgery is one of the frequent OPD processes that is carried out in eye hospitals and centers. The lasers utilized for the surgery are designed to be transmittable through the lens and cornea (non-retinal tissues) without damaging them. By Disease IndicationBased on disease indication, the global retina health market has been segmented into age-related macular degeneration, diabetic retinopathy, inherited retinal diseases, retinoblastoma, and others.

  
  
  
  
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    Age-Related Macular Degeneration

    
    
  
  
  
  

  Age-related Macular Degeneration (AMD) is an eye illness that affects the center of the field of vision causing irreversible damage specifically among older patients. The factors accelerating the risks include genetic variants, smoking, cardiovascular disease, hypertension, obesity, sun exposure, and a diet with low omega-3 fatty acids and green leafy vegetables.

  
  
  
  
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    Diabetic Retinopathy

    
    
  
  
  
  

  Diabetic retinopathy is a diabetes complication that damages blood vessels in the tissues of the retina. This illness causes vision loss and blindness among people suffering from diabetes. Symptoms diagnosed for diabetic retinopathy involves blurred vision for faraway objects, bleeding of blood vessels in the retina, loss of vision, and floating of black dots across the front of the eye.

  
  
  
  
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    Inherited Retinal Diseases

    
    
  
  
  
  

  Inherited Retinal Diseases are the collection of ailments that results in severe vision loss or even blindness. A few of the inherited retinal disease includes retinitis pigmentosa, rod dystrophy or rod-cone dystrophy, usher syndrome, bietti crystalline dystrophy, Batten disease, Bardet-Biedl syndrome, Alport syndrome, and Leber congenital amaurosis/ early onset retinal dystrophy among others.

  
  
  
  
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    Retinoblastoma

    
    
  
  
  
  

  Retinoblastoma is cancer-related to the retina and caused due to genetic mutations in nerve cells of the retina. The mutation caused uncontrolled cell division of the healthy cells leading to the formation of the accumulation of the mass of cells leading to the tumor.

  
  
  
  
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    Others

    
    
  
  
  
  

  The others segment includes retinal disorders such as retinal tear, and macular holes. A retinal tear is a condition in which the retina faces a tear or has a hole. The progressive wear and tear of the retina lead to a serious medical condition known as a detached retina.

  
  

Global Retina Health Market Share (%), by region, 2021 Regional Analysis

The global retina health market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World.

North America

The North America retina health market is growing due to several factors such as the high prevalence of retinal disorders and the presence of major market players in the region. Moreover, the number of patients with retinal diseases such as dry AMD, retinal vein occlusion, and diabetic eye diseases is steadily increasing in the United States, according to a retrospective study presented during The Association for Research in Vision and Ophthalmology 2020. This study conducted between 2014 and 2019 concluded dry AMD had the largest disease burden over the 6-year period with a 16.3% prevalence.

Europe

The European retina health market is growing due to factors like high prevalence of wet AMD, increasing prevalence of diabetes, and presence of a high population of geriatric people. According to a research article published by University of Ljubljana, Ljubljana, Slovenia in September 2019, AMD was responsible for 19.5% and 15.9% of all cases of blindness reported in Eastern Europe and central Europe respectively.

Asia-Pacific

The Asia-Pacific (APAC) retina health market is expected to exhibit a strong CAGR of 8.33% during the forecast period from 2022 to 2030 owing to the rapidly improving healthcare infrastructure, increasing per capita income, growing awareness about eye health among the population, and presence of a large geriatric population. For instance, according to the Capital Medical University, Beijing, China in February 2021, it is estimated that South Asia had the highest prevalence of mild vision impairment (12.2%), and moderate to severe vision impairment (17.5%) globally.

Rest of the World

The rest of the world comprises the Middle East, Africa, and Latin America. The rest of the world region is expected to register a slower CAGR as compared to other regions owing to presence of poor economies, sub-par healthcare infrastructure, lack of qualified professionals, and lack of public awareness. The region is majorly driven by the developed gulf nations which have well equipped healthcare systems and a high prevalence for retinal disorders as well. Such efforts are expected to drive the market in the region during the forecast period (2022-2030).

Retina Health Market Competitive Landscape

The global retina health market is characterized by the presence of many global, regional, and local players and increasing initiatives by public and private organizations to drive awareness regarding retinal diseases make the retina health market lucrative. To expand their reach and optimize their operational costs, the major players focus on obtaining regulatory authorizations from government agencies for their products and emphasize acquisitions and product launches to gain a substantial market share.

Key Players

The prominent players in the global retina health market are Novartis AG (Switzerland), Spark Therapeutics, Inc. (Us), Gensight Biologics (France), Allergan Plc (Subsidiary of AbbVie Inc.) (Ireland), Oxford Biomedica Plc (UK), Hemera Biosciences LLC (US), Santen Pharmaceuticals Inc. (Japan), Regenxbio Inc. (US), Meiragtx Limited (US), Applied Genetic Technologies Corporation (AGTC) (US).

Recent Developments

• In December 2021, Novartis acquired Gyroscope Therapeutics (UK), which focuses on developing gene therapy to treat ailments that affect the eye and lead to vision loss. This acquisition will help the company to gain access to gene therapy and deliver innovation in ophthalmology to treat and prevent blindness worldwide.


• In September 2021, AbbVie and REGENXBIO Inc. announced a partnership to develop and commercialize RGX-314, potential one-time gene therapy for the treatment of wet age-related macular degeneration (wet AMD), diabetic retinopathy (DR), and other chronic retinal diseases.


• In April 2021, Santen Pharmaceuticals Inc. has established a manufacturing unit in China owing to cater to the increasing demand across this country. This expansion will provide stable eye care product supplies across the country.

Report Overview:

The study covers the existing short-term and long-term market effect, helping decision-makers to draught short-term and long-term plans for businesses by region. The report covers major regions in the North America, Europe, Asia-Pacific, and Rest of the World. The report analyzes market drivers, restraints, opportunities, Porter's Five Forces, Value Chain, and impact of COVID-19 on the market.

Scope of the Report & Segmentation

Global Retina Health Market, by Treatment

• Drugs


• 
  Therapy
  
  
  
  • Gene Therapy
  
  
  • Nutrition Therapy
  
  
  
  


• Surgery


• Others

Global Retina Health Market, by Disease Indication

• Age-Related Macular Degeneration


• Diabetic Retinopathy


• Inherited Retinal Diseases


• Retinoblastoma


• Others

Global Retina health market, by Region

• 
  North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• 
  Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa


• Middle East


• Africa


• Latin America