Retinal Disorders Treatment Market: Macular Degeneration to Dominate Global Market
Advancements in Gene-therapy and Stem-cell Therapy to Bolster Market Growth
Retinal disorders have received considerable attention from researchers and other experts over the course of the past couple of decades. However, prior to that timeframe, retinal disorders were largely sidelined as the primary cause of blindness in the blindness programs in most of developing regions. A number of factors, including high costs involved in the treatment of retinal disorders, steep costs, and unreliability of the equipment utilized were some of the common factors that led to a sluggish growth of the retinal disorders treatment market in several developing regions. Over the past few years, advancements in technology coupled with promising findings from research and development activities have contributed to the overall development of the global retinal disorders treatment market– a trend that is projected to continue over the duration of the forecast period.
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Increasing prevalence of retinal disorders in both, developing as well as developed regions of the world is expected to drive innovations, accelerate new treatments, and play an important role in increasing investments toward the overall development of the retinal disorders treatment market. Furthermore, the growing prevalence of diabetes around the world is another factor that is expected to augment the number of patients suffering from retinal disorders– a factor that is projected to boost the growth of the global retinal disorders treatment market during the assessment period. The increasing support offered by governments, particularly in developing regions has led to a considerable growth of the overall awareness pertaining to various retinal disorders due to which, the demand for retinal disorders treatment has witnessed a notable spike. This factor is anticipated to boost the prospects of the global retinal disorders treatment market during the stipulated timeframe of the study.
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New Technologies Set to Transform Future of Retinal Disorders Treatment
Technological advancements are set to play a key role in the overall growth of the global retinal disorders treatment market in the upcoming years. Groundbreaking breakthroughs and advancements in bionics, genetics, and stem-cell therapy are expected to transform the future of retinal disorders treatment in the upcoming decade. In developed regions wherein the preventable causes of blindness are detected early, owing to routine checkups and robust healthcare ecosystem, retinal degeneration has emerged as one of the top causes of blindness or visual impairment. Advancements across several new frontiers are expected to pave the way for new retinal disorders treatments for all the major forms of retinal disorders. Advancements in gene therapy, functional prostheses, and growing interest in bionic eyes are projected to play a vital role in boosting the growth of the global retinal disorders treatment market during the forecast period. While gene therapy is likely to emerge as a promising retinal disorder treatment, cell regeneration or stem-cell therapy has offered considerable promise in the treatment of blindness, especially in the later stages of the disease. Advancements in technology coupled with research and development activities are expected to play a key role in boosting the growth of the global retinal disorders treatment market during the assessment period.
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Links Between COVID-19 and Microvascular Alterations to Increase Demand
The onset of the COVID-19 pandemic is expected to have a moderate impact on the overall growth of the global retinal disorders treatment market in 2020. While the major focus is projected to remain toward the discovery of new vaccine, research and development activities in other branches of the medical sectors are likely to continue as per the initial timeline. Research activities are also anticipated to evaluate the presence of retinal alterations among patients suffering from the novel COVID-19 infection. Due to the constant fear of contracting the virus, doctors and specialists are expected to rely on telehealth services. Although the trends suggest that patients are willing to delay retinal disorders treatment due to the ongoing pandemic, the market is likely to show signs of recovery toward the last quarter of 2020.
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Major Players
- The report concludes with the company profiles section that includes key information about the major players in the global retinal disorders treatment market
- Leading players analyzed in the report are
- Allergan plc
- Bayer AG, F.
- Hoffmann-La Roche Ltd.
- Graybug Vision, Inc.
- Kubota Pharmaceutical Holdings Co., Ltd.
- Novartis AG, Pfizer, Inc.
- Regeneron Pharmaceuticals, Inc.
- Santen Pharmaceutical Co., Ltd.
- Takeda Pharmaceutical Company Limited
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