Posterior Segment Eye Disorders Market Size

Posterior Segment Eye Disorders Market Analysis

The Posterior Segment Eye Disorders Market size is estimated at USD 32.12 billion in 2024, and is expected to reach USD 41.82 billion by 2029, growing at a CAGR of 5.42% during the forecast period (2024-2029).

The COVID-19 pandemic disrupted the research and development activities of other therapies and drugs for medical conditions other than COVID-19. It impacted the treatment procedures and supply chains of pharmaceuticals and medical devices worldwide and the market for posterior segment eye disorders. For instance, according to a health article published in March 2021 by Oftalmologàa Barraquer, COVID-19 caused severe and irreversible consequences for people with glaucoma who suffered a very rapid evolution of the disease and have not been able to carry out follow-ups by the specialist, which, in some cases, resulted in a loss of the visual field. Therefore, the overall impact of COVID-19 on the posterior segment eye disorders market was adverse, primarily due to the decline in the diagnostics and treatment procedures of the diseases associated with the posterior segment of the eye. However, the rise in eye disorder surgeries worldwide to clear the backlogs of surgical procedures caused by the pandemic-related restrictions compensated for the market's growth in the later phase of the pandemic.

Posterior segment eye disorders are one of the major causes of visual impairments worldwide. Their prevalence is increasing gradually due to the increase in the prevalence of eye diseases, diabetes, and geriatric populations that are more vulnerable to eye ailments. With the increase in the burden of these diseases, the demand for diagnostics and treatment is increasing worldwide, driving the growth of the studied market.

According to the World Glaucoma Association (WGA) 2022 update, around 79.6 million people were living with glaucoma in 2020, and the number is projected to reach 111.8 million people by 2040. It also highlighted that at least 50% of glaucoma sufferers are unaware of their condition, and around 90% of glaucoma cases in some developing countries are undetected. Thus, the surge in glaucoma is ultimately projected to boost the posterior segment eye disorders market over the forecast period.

With the launch of new products, research and development, collaboration, mergers, and acquisitions, the market for posterior segment eye disorders is expected to grow during the forecast period. For instance, in June 2022, Iridex Corporation received regulatory approval to market and sell its Cyclo G6 platform for the treatment of glaucoma diseases in China from its National Medical Products Administration (NMPA).

Due to the rising awareness about eye disorders and the factors mentioned above, the posterior segment eye disorders market is expected to register healthy growth over the forecast period. However, factors such as stringent regulatory policies of different countries and the lack of proper healthcare infrastructure in developing and under-developing countries are likely to restrain this growth.