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 led to disruption in not only the research and development activities of other therapies and drugs for medical conditions other than COVID-19 but also 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 the 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 the 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 the 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, there are several other research studies which showed that posterior eye disorders are associated with the loss of vision which is why the demand of diagnostics and therapeutics is increasing in the studied area of 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, 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 the eye disorders along with the factors mentioned above, the posterior segment eye disorders market is expected to register a healthy growth over the forecast period of the study. However, owing to the factors such as stringent regulatory policies of different countries and lack of proper healthcare infrastructure in the developing/under developing countries, the growth of the market is expected to be affected over the forecast period of the study.
Key Market Trends
Small Molecules by Drugs Segment Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The compounds with low molecular weight which can change the biochemical processes for the treatment of diseases are known as small molecule drugs. The factors such as growing burden of eye disorders, increasing research and development for the innovation of new therapeutics coupled with the launch of the product are driving the growth of market segment over the forecast period.
The research studies depicting the use of the potential of small molecules for posterior segment eye diseases is also propelling the growth of the market. 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 take place via the paracellular and/or transcellular route. Hence such research studies demonstrating the effectiveness of small molecules for posterior segment eye diseases is driving the growth of market.
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. has 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 market over the time.
Additionally, in January 2020, Ocuphire Pharma, Inc., has entered into 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 has 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 United States. Such launches is expected to drive the growth of market. Thus, owing to the aforementioned factors market segment is expected to project growth over the forecast period.
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 the back the 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 are affected with diabetic retinopathy, and nearly 900,000 Americans are 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 to acquire Ivantis, Inc. to increase its product portfolio with the addition of 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 the ocular diagnostics which will increase the growth of diagnosis 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 are not high. For instance, in 2020 a paper published in U.S. 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 have a faster growth over the forecast period.
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.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.2 Scope of the Study
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 Force 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
22.214.171.124 Small Molecules
126.96.36.199 Therapeutic Devices
188.8.131.52 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
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
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
A selection of companies mentioned in this report includes:
- Alcon Inc.
- Abbvie Inc. (Allergen PLC)
- Bausch Health Companies Inc.
- F Hoffmann-La Roche
- Merck & Co. Inc.
- Novartis AG
- Santen Pharmaceuticals
- Rainbow Medical Ltd (Nano Retina)
- Regeneron Pharmaceuticals Inc.
- Second Sight Medical Products Inc.
- Aerie Pharmaceuticals