The global posterior segment eye disorders market is projected to grow with a CAGR of nearly 6. 5% over the forecast period. The market growth is due to an increase in increasing burden of eye disorders such as glaucoma, macular degeneration and other retinal disorders.
New York, Jan. 25, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Posterior Segment Eye Disorders Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06221879/?utm_source=GNW
In addition, advancements in diagnostic technologies and R&D of new therapeutics for the treatment of these disorders are anticipated to boost the market growth.
According to The International Agency for the Prevention of Blindness, glaucoma is the third leading cause of irreversible blindness worldwide. Due to the growing awareness on the burden of glaucoma and other diseases, the market is expected to grow at significant rates. Moreover, the age-related macular degeneration is more common among the people over 60 years. The ageing population and awareness on early diagnosis and treatment of the eye diseases are some of the factors that are anticipated to bolster the market growth over the forecast period. However, the poor primary healthcare infrastructure in underdeveloped and developing countries is anticipated to hinder the market growth.
Key Market Trends
Devices Segment Anticipated to Grow at Significant Rate
The devices for the treatment and diagnosis of posterior segment eye diseases are anticipated to have a significant growth rate over the forecast period. The growth is attributed to advancements in device technologies, growing prevalence of age-related macular degeneration and adoption of implants for the treatment.
According to BrightFocus Foundation, the number of people living with the macular degeneration may reach to 196 million globally and is expected to reach 288 million by 2020. This is expected to fuel the segment growth of macular degeneration.
Moreover, the growing burden of eye-related diseases coupled with the adoption of advanced diagnostic and therapeutic technologies is anticipated to bolster the market growth over the forecast period.
North America Anticipated to Have Significant Growth
North America is anticipated to have significant market growth owing to well-established healthcare infrastructure, presence of key market players, new product launches and rising burden of the back of the eye disorders in the region. For instance, in November 2018, Valeant pharmaceuticals has started commercialization of VYZULTA, a prostaglandin analogue indicated for the reduction of IOP in patients with open-angle glaucoma or ocular hypertension in the United States. The Asia Pacific region is projected to have lucrative market growth owing to the presence of a large pool of population living with eye-related disorders, increasing disposable income, affordability and accessibility for the treatment of posterior segment eye disorders.
Global posterior segment eye disorders market is moderately fragmented and competitive. Market players are focusing on new product launches, product innovation, regional expansions and collaborations to increase their market share. The key market players operating in the market include F. Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., Rainbow Medical Ltd. (Nano Retina), Second Sight Medical and Merck & Co., Inc. among others.
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