Retina Health Market Size was valued at USD 15.2 Billion in 2022. The Retina Health market is projected to grow from USD 16.27 Billion in 2023 to USD 27.97 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.01% during the forecast period (2024 - 2032). The rising incidence of retinal disorders and the rising elderly population are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Market CAGR for retina health is driven by the rising prevalence of diabetes and diabetic retinopathy in the world's aging population. The expansion will be fueled by the growing illness of the retina, especially AMD, caused by old age, cataracts, and diabetic retinopathy. The increasing demand for retina health products might also be attributed to millennials increasing prevalence of myopia and digital retina fatigue. The rising prevalence of visual impairment worldwide is anticipated to fuel the market's expansion in the coming years. Hereditary and congenital disabilities, eye traumas, and acquired eye disorders are all potential causes of visual impairment. Market expansion is anticipated due to the rising introduction of eye health supplements to meet the needs of the 1.5 billion ignored people worldwide with visual impairment. It, in turn, is anticipated to increase the demand for dietary supplements to maintain healthy eyes.
Additionally, to an aging population, the rising prevalence of digital eye fatigue and myopia among millennials is driving the global market in a significant way for eye health supplements. The rising incidence of eye diseases like age-related macular degeneration, dry eye syndrome, and inflammation, as well as ophthalmologists' enthusiastic endorsement of eye health supplements for preventing and treating these diseases, are also factors propelling the market. Patients with eye abnormalities are at increased risk of developing chronic health problems, experiencing accidents, becoming depressed, and isolating themselves from others. Therefore, the increasing prevalence of retina diseases is fueling the expansion of the international market.
For instance, TJ Nutrition, a Texas-based nutraceutical firm that develops unique, patented supplements following the clinical research of genetic disease investigators, has released Parasym plus Eyes, a revolutionary and patented compound shown to increase tear production while reducing inflammation. Parasym plus Eyes improve eye health and overall nervous system function through this nerve stimulation. As a result, the demand for retina health is predicted to grow throughout the forecasted time due to the emphasis on creating new treatments. Thus, the driving factor is the retina health market revenue.
The Retina Health Market segmentation, based on treatment, includes drugs, therapy, and surgery. In 2022, the drugs segment led the retina health market in revenue. Drug treatment is considered one of the most cost-effective and risk-free methods for retinal disease. Most patients would also prefer drug ingestion because it is effective, simple, and requires no intrusive procedures. Thus, the market should become dominant in the years to come.
Figure 1: Retina Health Market by Treatment, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The Retina Health Market segmentation, based on disease indication, includes age-related macular degeneration, diabetic retinopathy, inherited retinal diseases, and retinoblastoma. The age-related macular degeneration segment is anticipated to expand rate at a CAGR of 7.01% over the projected period, making up the largest market share due to one of the major causes of AMD is simply becoming older. The chance of developing progressive age-related macular degeneration rises steadily from 2% in those 50–59 years old to approximately 30% in those 75 and older.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American retina health market will dominate due to the region's high awareness and availability of commercialized eye health supplements and the rising prevalence of chronic eye disorders, especially age-related macular degeneration, diabetic retinopathy, glaucoma, and dry eye syndrome. Moreover, a rise in the number of new products available in the North American eye health supplements market contributed to this industry's expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: RETINA HEALTH MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s retina health market accounts for the second-largest market share because of raising people's awareness of eye health, a greater demand for improved retina services, and the growing funding for research would all contribute to the rapid spread of cutting-edge technological solutions and government-created healthcare plans. Further, the German retina health market held the largest market share, and the UK retina health market was the fastest-growing market in the European region.
The Asia-Pacific retina health market is expected to grow at the fastest CAGR from 2024 to 2032 due to an aging population, an increase in chronic disease, and the emergence of contract manufacturing hubs for eye health supplements, as well as the prevalence of numerous local market participants offering novel and reasonably priced eye health supplements. Moreover, China’s retina health market held the largest market share, and the Indian retina health market was the fastest-growing market in the Asia-Pacific region.
Retina Health Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the retina health market grow even more. There are some strategies for action that market participants are implementing to increase their presence around the world's global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the retina health industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer use in the global retina health industry to benefit clients and increase the market sector. In recent years, the retina health industry has offered some of the most significant technological advancements. Major players in the retina health market, including Novartis AG, Spark Therapeutics, Gensight Biologics, Allergan Plc, Oxford Biomedica Plc, Hemera Biosciences LLC, Santen Pharmaceuticals Inc, Regenxbio Inc, Meiragtx Limited, and others are attempting to grow market demand by investing in research and development operations.
Novartis is rethinking medicine to enhance and lengthen people's lives. Through technological leadership in R&D and creative access strategies, it provide high-value medications that reduce the biggest disease burdens on society. It routinely rank among the top firms investing in scientific study and technological innovation globally in effort to discover breakthrough medications. To make Novartis products available to almost 800 million people worldwide, about 103,000 individuals representing more than 140 nationalities collaborate. In 1996, Sandoz and Ciba-Geigy combined to form Novartis. With a long history of creating cutting-edge goods, Novartis and its precursor businesses have origins dating back over 250 years. In April 2023, Novartis revealed that Human Medicinal Products Review by the European Medicines Agency Committee had adopted a favorable opinion. They suggested that Cosentyx® (secukinumab) be given marketing authorization for treating adults with active moderate- to severe hidradenitis suppurative (HS).
GenSight Biologics S.A., a clinical-stage biopharmaceutical company, focuses on novel gene therapy for retinal neurodegenerative illnesses affecting the brain and spinal cord. The pipeline of GenSight Biologics utilizes the Mitochondrial Targeting Sequence (MTS) and optogenetics to aid patients with blinding retinal diseases in maintaining or regaining eyesight. GenSight Biologics' lead product candidate, LUMEVOQ® (GS01), has been submitted for European marketing authorization to treat Leber Hereditary Optic Neuropathy (LHON). This rare mitochondrial disease primarily affects teenagers and young adults and causes irreversible blindness. Based on its gene therapy-based technique, GenSight Biologics has developed product candidates designed to be injected intravitreally into each eye once to offer patients. In March 2023, GenSight Biologics, lead gene (LUMEVOQ®, GS010) was administered to individuals with Leber Hereditary Optic Neuropathy (ND4-LHON) through early access programs (EAP). The North American Neuro-Ophthalmology Society (NANOS) held its 49th annual meeting, where these findings were presented. The data came from EAPs in the US, France, Italy, and the UK.
Key Companies in the Retina Health Market include
Retina Health Industry Developments
January 2023 Novartis, the pivotal Phase III PSMAfore study, demonstrated that the PSMA-targeted radioligand therapy PluvictoTM (INN: lutetium (177Lu) vipivotide tetraxetan) achieved its primary objective. In PSMA patients treated with Pluvicto, radiographic progression-free survival (rPFS) demonstrated a statistically and clinically significant improvement.
January 2023 Neurochase, a company specializing in creating scalable therapeutic approaches, announced a strategic partnership to create Neurochase's proprietary delivery technology for use with specific gene therapies for rare diseases. Through this partnership, Neurochase can contribute its extensive direct drug delivery technology knowledge to Spark's top AAV platform.
May 2023 Oxford Biomedica's TetraVectaTM, a 4th generation lentiviral vector delivery system, is now available for purchase. The Oxford Biomedica-developed cutting-edge technology expands the company's client offering and its market-dominating LentiVector® platform while enhancing lentiviral vectors' quality, potency, and packing capacity.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 15.2 Billion |
| Market Size 2023 | USD 16.27 Â Billion |
| Market Size 2032 | USD 27.97 Billion |
| Compound Annual Growth Rate (CAGR) | 7.01% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Treatment, Diseases Indication, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Aircraft Type, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Novartis AG, Spark Therapeutics, Gensight Biologics, Allergan Plc, Oxford Biomedica Plc, Hemera Biosciences LLC, Santen Pharmaceuticals Inc, Regenxbio Inc, and Meiragtx Limited |
| Key Market Opportunities | ·      An increasing number of strategic initiatives |
| Key Market Dynamics | ·      Increased technological capability ·      A rise in the prevalence of telecommuting and online meetings |
Retina Health Market Highlights:
Frequently Asked Questions (FAQ) :
The Retina Health Market size was valued at USD 15.2 Billion in 2022.
The global market is projected to grow at a CAGR of 7.01% during the forecast period, 2024-2032.
North America had the largest share of the global market.
The key players in the market are Novartis AG, Spark Therapeutics, Gensight Biologics, Allergan Plc, Oxford Biomedica Plc, Hemera Biosciences LLC, Santen Pharmaceuticals Inc, Regenxbio Inc, Meiragtx Limited.
The drug treatment type category dominated the market in 2022.
Age-related macular degeneration had the largest share of the global market.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
