|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The posterior segment eye disorders market was valued at USD 28,360.55 million in 2021, and it is expected to reach USD 37,454.56 million by 2027, registering a CAGR of 5.03% during the period, 2022-2027.
The COVID-19 pandemic disrupted the research and development activities of other therapies and drugs for medical conditions other than COVID-19 and impacted the treatment procedures and supply chain of the pharmaceuticals and medical devices around the world, which also impacted the studied market of posterior segment eye disorders.
For instance, according to a health article published in March 2021, titled “The Covid-19 pandemic accelerates the worsening of glaucoma cases”, the impact of COVID-19 has caused very serious and irreversible consequences in people with glaucoma, who have suffered a very rapid evolution of the disease and have not been able to carry out the follow-up by the specialist, which, in some cases, has resulted in a loss of the visual field. Therefore, the overall impact of COVID-19 on the posterior segment eye disorders market was negative primarily due to the decline in the diagnostics and treatment procedures of the diseases associated with the posterior segment of the eye, but with the ongoing vaccination programs and launch of new drugs against the COVID-19, the studied market is expected to beam back to its full potential in due time.
The posterior segment eye disorders are one of the major causes of visual impairments around the world, and their prevalence is growing gradually owing to the increase in the prevalence of eye diseases, diabetes, geriatric population, and other factors and with the increase in the burden of these diseases, the demand of diagnostics and treatment is increasing around the world which is driving the growth of the studied market of the posterior segment eye disorders.
For instance, according to the research study published in September 2020, titled “Cutting-edge advances in therapy for the posterior segment of the eye: Solid lipid nanoparticles and nanostructured lipid carriers”, posterior segment eye diseases can result in severe vision loss, and it affects more than 300 million people around the world, which shows a significant burden of the disorders around the world.
Also, several other research studies showed that posterior eye disorders are associated with the loss of vision, which is why the demand for diagnostics and therapeutics is increasing in the studied area of the market and over the years, with the rising awareness about these diseases, the market of posterior segment eye disorders is expected to grow during the forecast period of the study.
Furthermore, with the launch of new products in the area by the key market players in the studied market along with the other developments such as research and development collaboration and mergers and acquisitions, the studied market of posterior segment eye disorders is further expected to grow during the forecast period. For instance, in June 2020, Senju Pharmaceutical and Otsuka Pharmaceuticals launched a new combination ophthalmic solution for the treatment of glaucoma and ocular hypertension, AILAMIDE Combination Ophthalmic Suspension in Japan.
Moreover, due to the rising awareness about eye disorders along with the factors mentioned above, the posterior segment eye disorders market is expected to register healthy growth over the forecast period of the study. However, owing to the factors such as stringent regulatory policies of different countries and the lack of proper healthcare infrastructure in the developing/under-developing countries, the market's growth is expected to be affected over the forecast period of the study.
Scope of the Report
Posterior segment eye disorders are also known as retina, optic nerve, and choroid diseases. The primary disorders include glaucoma, diabetic retinopathy, macular degradation, and others. The report covers the drugs and devices which are used in the diagnosis and treatment of back of the eye diseases. The Market is Segmented by Product (Drugs and Devices (Therapeutic Devices and Diagnostic Devices), Application (Macular Degeneration, Glaucoma, Diabetic Retinopathy, Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (USD million) for the above segments.
Key Market Trends
Small Molecules by Drugs Segment Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Compounds with low molecular weight that can change the biochemical processes for treating diseases are known as small molecule drugs. Factors such as the growing burden of eye disorders, increasing research and development for the innovation of new therapeutics, and the launch of the product is driving the market segment growth over the forecast period.
The research studies depict the potential of small molecules for posterior segment eye diseases, propelling the market's growth. For Instance, the Pharmaceutics Journal article titled 'Drug Delivery to the Posterior Segment of the Eye: Biopharmaceutics and Pharmacokinetic Considerations' published in March 2020, reported that the posterior route is the main elimination pathway for small and lipophilic molecules since they can easily cross the retina. The diffusion process could occur via the paracellular and/or transcellular routes. Hence such research studies demonstrating the effectiveness of small molecules for posterior segment eye diseases is driving the market growth.
The market segment is also boosted by the launch of new products and approvals from the regulatory authorities. For Instance, in November 2019, Aerie Pharmaceuticals, Inc. received the European Commission (EC) marketing authorization for Rhokiinsa (netarsudil ophthalmic solution-0.02%). It is a small molecule solution for the reduction of elevated intraocular pressure in adult patients with primary open-angle glaucoma or ocular hypertension. Such approvals will boost the growth of the market over time.
Additionally, in January 2020, Ocuphire Pharma, Inc., entered an agreement with Apexian Pharmaceuticals, Inc., granting Ocuphire an exclusive worldwide sublicense to Apexian's Ref-1 Inhibitor program, including its lead drug candidate APX3330, for all ophthalmic and diabetic indications. It is a first-in-class, orally-administered, small molecule drug candidate that selectively targets and inhibits the Ref-1 (reduction-oxidation effector factor-1)
Furthermore, in December 2021, Allergan, an AbbVie, received approval for VUITY (pilocarpine HCl ophthalmic solution) 1.25%, by the United States Food and Drug Administration (FDA) to treat presbyopia to be available by prescription in pharmacies in the United States. Such launches is expected to drive the growth of the market. Thus, the market segment is expected to project growth over the forecast period owing to the aforementioned factors.
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The North American Region is Expected to Hold a Major Market Share Over the Forecast Period
North America is anticipated to have significant market growth owing to its well-established healthcare infrastructure, presence of key market players, new product launches, and rising burden of back eye disorders in the region.
According to the data published by the Centers for Disease Control and Prevention (CDC) in 2020, around 4.1 million Americans will be affected with diabetic retinopathy, and nearly 900,000 Americans will be threatened with vision-damaging retinopathy. Diabetic retinopathy is one of the leading disorders of posterior segment eye disorders. Increasing prevalence will increase the demand for treatment in a huge population which will boost the growth of the market in the region.
Mergers and acquisitions are one of the key reasons for the growth of the market in the region. For instance, in November 2021, Alcon announced acquiring Ivantis, Inc. to increase its product portfolio by adding Hydrus microstent for surgical glaucoma. Alcon will complete the acquisition in the first quarter of 2022. Hydrus microstent is one of the key products in Canada. With this acquisition, Alcon will increase its presence in the market.
In September 2021, Zilia Inc. received USD 3.16 million through seed financing. This would help the company to enter ocular diagnostics, which will increase the growth of diagnoses for posterior segment eye disorders. The product can measure oxygen saturation in the eye, an important biomarker for eye diseases such as glaucoma, diabetic retinopathy, and age-related macular degeneration.
The success rate of traditional methods is not high. For instance, in 2020, a paper published in the US National Library of Medicine stated that conventional administration pathways, such as systemic or topical routes, usually show important limitations, either by low ocular penetration or by the appearance of side effects linked to the posology, among others. Hence, new drug delivery systems (DDS) are required to prolong the administration intervals for posterior segment ocular pathologies. Hence, owing to the above conditions, the studied market is expected to have a faster growth over the forecast period.
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The 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.
- In November 2021, Aerie Pharmaceuticals received marketing authorization approval from the European Commission for its Roclanda (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005% for the reduction of elevated IOP in adult patients with primary open-angle glaucoma or ocular hypertension.
- In February 2021, Santen Pharmaceutical and Ube Industries launched glaucoma and ocular hypertension treatment EYBELIS Ophthalmic Solution 0.002% in Korea.
Table of Contents
1.1 Study Assumptions & Study Deliverables
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Back of The Eye Disorders
4.2.2 Growing R&D in Development of New Therapeutics and Advancements in Device Technologies
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 Lack of Primary Infrastructure For Eye Related Diseases in Underdeveloped and Developing Countries
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
126.96.36.199 Small Molecules
188.8.131.52 Therapeutic Devices
184.108.40.206 Diagnostic Devices
5.2 By Application
5.2.1 Macular Degeneration
5.2.3 Diabetic Retinopathy
5.2.4 Other Applications
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Alcon Inc.
6.1.2 Abbvie Inc. (Allergen PLC)
6.1.3 Bausch Health Companies Inc.
6.1.4 F Hoffmann-La Roche
6.1.5 Merck & Co. Inc.
6.1.6 Novartis AG
6.1.7 Santen Pharmaceuticals
6.1.8 Rainbow Medical Ltd (Nano Retina)
6.1.9 Regeneron Pharmaceuticals Inc.
6.1.10 Second Sight Medical Products Inc.
6.1.11 Aerie Pharmaceuticals
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Posterior Segment Eye Disorders Market market is studied from 2019 - 2027.
What is the growth rate of Global Posterior Segment Eye Disorders Market?
The Global Posterior Segment Eye Disorders Market is growing at a CAGR of 5.03% over the next 5 years.
Which region has highest growth rate in Global Posterior Segment Eye Disorders Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Posterior Segment Eye Disorders Market?
North America holds highest share in 2021.
Who are the key players in Global Posterior Segment Eye Disorders Market?
F. Hoffmann-La Roche AG , Regeneron Pharmaceuticals, Inc. , Rainbow Medical Ltd. (Nano Retina), Second Sight Medical , Merck & Co., Inc. are the major companies operating in Global Posterior Segment Eye Disorders Market.