Posterior Segment Eye Disorders Market to Surpass US$ 39,213.5 Mn by 2028

The posterior segment of the eye comprises the back two-thirds of the eye, including the vitreous humor, the retina, the choroid and the optic nerve. Posterior segment eye disease (PSED) is defined as disease of retina, choroid and optic nerve and primarily includes glaucoma, age-related macular degeneration (AMD), and diabetic retinopathy. Several drugs and devices are used for diagnosis and treatment of posterior segment eye disorders.

Market Statistics:

The global Posterior Segment Eye Disorders Market is estimated to account for US$ 29,580.1 Mn in terms of value by the end of 2022.

Drivers:

Increase in burden of posterior segment eye disorders across the globe is expected to propel growth of the global posterior segment eye disorders market during the forecast period. For instance, with the increase in burden of posterior segment eye disorders, such as glaucoma, age-related macular degeneration, and diabetic retinopathy, the demand for safe, effective treatment is also increasing with a rapid pace. In February 2021, Topcon Healthcare launched its new Glaucoma Module which simplifies the diagnosis of glaucoma. These product launches are likely to increase the demand of the drugs and devices for the treatment of posterior segment eye disorders. This in turn is expected to aid in the global posterior segment eye disorders market growth.

Opportunities:

Increase in incidence of diabetes and growing geriatric population worldwide is expected to offer significant growth opportunities for players in the global posterior segment eye disorders market. For instance, eye disorders, such as diabetic retinopathy, glaucoma, cataracts, and macular edema (develops along with diabetic retinopathy), affect individuals with diabetes. Moreover, the risk of diabetic retinopathy (DR) is relatively high in elderly diabetic patients. According to International Diabetes Federation (IDF), around 537 million adults (20 to 79 years) are living with diabetes, and this number is expected to reach 643 million by 2030 and 783 million by 2045.

Restraints:

Stringent rules/regulations and lack of primary infrastructure are major factors expected to hinder growth of the global posterior segment eye disorders market. For instance, regulatory authorities, such as the US FDA and EMA, regulate the posterior segment eye disorder market to ensure access to safe, appropriate, and affordable diagnostics and therapeutics products. Moreover, most drugs available without prescription are assessed and authorized at the national level, which in turn leads to delay in the product launches and sometimes, product recalls. Moreover, the burden of posterior segment eye diseases increasing rapidly in developing & underdeveloped countries, which affects the medical/healthcare system in these regions due to lack of proper health care infrastructure.

Global Posterior Segment Eye Disorders Market- Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 has had a severe impact on the posterior segment eye disorders market primarily due to the decline in the diagnostics and treatment procedures of the diseases associated with the posterior segment of the eye. The pandemic also disrupted the research and development activities of other therapies and drugs for medical conditions other than COVID-19. However, the launch of new drugs against COVID-19 and ongoing vaccination programs, the market is expected to bounce back to its full potential during the forecast period.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/posterior-segment-eye-disorders-market-5470

Key Takeaways:

The global posterior segment eye disorders market was valued at US$ 28,360.6 Mn in 2021 and is forecast to reach a value of US$ 39,213.5 Mn by 2028 at a CAGR of 5.0% between 2022 and 2028.

Among product, drugs segment held dominant position in the global posterior segment eye disorders market in 2020, accounting for 54.8% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

One of the key trends expected to propel the growth of the global posterior segment eye disorders market is the frequent approvals and launches of novel products by the market players. Due to rise in burden of posterior segment eye disorders and growing geriatric population across the world, players in the market are focusing on launching and developing novel therapeutics. For instance, in October 2021, Roche received approval from the U.S. FDA for Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant for the treatment of people with neovascular or “wet” age-related macular degeneration.

Competitive Landscape:

Major players operating in the global posterior segment eye disorders market include Novartis AG, Merck & Co. Inc., F. Hoffmann-La Roche AG, AbbVie Inc (Allergan), Alcon Inc., Bausch Health Companies Inc., Aerie Pharmaceuticals, Santen Pharmaceutical Co. Ltd., Second Sight Medical Products Inc., Rainbow Medical Ltd (Nano Retina), and Regeneron Pharmaceuticals Inc.

Recent Developments:

In April 2020, Allergen received approval from China's National Medical Products Administration (NMPA) for its XEN Gel Stent, which is used in the treatment of refractory glaucoma patients in more than 30 countries.

In March 2020, Allergen plc received New Drug Application (NDA) for DURYSTA (bimatoprost implant) from the U.S. FDA, which can reduce the intraocular pressure in open-angle glaucoma or ocular hypertension.

In March 2019, the U.S. Food and Drug Administration (FDA) approved Rocklatan (Netarsudil and latanoprost ophthalmic solution), a new combination medicine for the treatment of open-angle glaucoma. The medication is developed and marketed by Aerie Pharmaceuticals.