Globally, the market of posterior segment eye disorder was priced at US$ 28,360.6 million in the year 2021 and is estimated to the extent of US$ 39,213.5 million by the end of the year 2028. The market for posterior segment eye disorder (PSED) worldwide is witnessing robust development owing to the rise in problem of PSED increase in the elderly population worldwide. Furthermore, rise in need for real and secure treatments and the rise in emphasis on the growth of the novel therapeutics are anticipated to fuel the market growth. Though, issues like strict regulatory policies and lack of main infrastructure for disease in eye are anticipated to hinder the market growth.
Global Posterior Segment Eye Disorders Market: Regional Insights
On the basis of geography, the market for PSED worldwide is divided into Europe, North America, Latin America, Middle East & Africa and Asia Pacific.
On the basis of regions, North America is anticipated to have the major market share in the predicted period owing to the increase in problem of PSED like age-related macular degeneration, glaucoma, diabetic retinopathy and increasing elderly population in this region. As per National Eye Institute, various kinds of glaucoma are present, the common type being the open-angle glaucoma in the U.N. The other kinds of glaucoma are congenital and angle-closure glaucoma is not much common. About 3 Mn people of 40 years and more are affected by glaucoma in the U.S., about 1.9% of the population
Europe is anticipated to experience substantial market growth in the PSED worldwide owing to the rise in incidence of PSED and increasing elderly population in this region. For example, as per the NCBI (National Center for Biotechnology Information), over 67 Mn people in Europe at present are impacted by age-related macular degeneration (AMD), and owing to increasing elderly population, and the figure is anticipated to rise by 15% till 2050. This is anticipated to raise the need for PSED in this region.
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Global Posterior Segment Eye Disorders Market Drivers
Rise in problem of PSED to increase growth of the market
The main factor anticipated to increase the market of PSED in the predicted period is the rise in problem of PSED worldwide. The segment of posterior eye disease is a retina disease, and also the disease of choroid, optic nerve which includes AMD, glaucoma and diabetic retinopathy. According to the AAC (American Academy of Opthalmology), commonly, glaucoma is the preventable and also blindness that can be permanent across the world, while POAG (Primary open-angle glaucoma) is accountable for 12.3% blindness across the world. This is pushing the growth of the market.
Growing geriatric population worldwide to underpin market growth
The other factor which is pushing the market growth of the PSED worldwide is the rise in elderly population worldwide. Commonly, the reason of loss of vision is related to age which is a macular degeneration, diabetic retinopathy, glaucoma and cataract. The main problem of the elderly people’s health is the loss of vision. As per American Academy of Family Physician, about 1 in every 3 person has any form of vision- lessening eye disease by 65 years of age. Therefore, with increasing elderly population, the prevalence of PSED is rising at an increased pace.
Global Posterior Segment Eye Disorders Market Opportunities
Rise in need for real and secure treatment across the world is anticipated to offer substantial opportunities of growth for the companies in the market of PSED worldwide. For example, with the increase in problem of PSED and rise in consciousness amongst people, need for secure and real treatment has also been raised across the world. Amring Pharmaceuticals Inc. (Amring) in June 2022, got the U.S FDA consent for generic Timilol Maleate Ophthalmic Solution, 0.5% of USP, 60 pack of 0.3 mL unit dose vials which have AT3 rated generic equivalent of Timoptic in Ocudose.
Rise in emphasis on the growth of novel treatments is anticipated to offer profitable opportunities of growth for the companies in the market of PSED worldwide. For example, companies in the market are emphasizing on the introduction and the growth of new treatments in the market to cater to rise in need across the world. Zilia in August 2021 declared the shutdown of US$ 4 Mn funding of seed round directed by Anges Québec. This will benefit the company to enter the market of ocular diagnostic by raising the figure if diagnoses for the segment of posterior eye disorders. This is anticipated to help in the growth of the market of PSED.
Global Posterior Segment Eye Disorders Market Trends:
Common consent and introduction of new products is a recent fashion
Owing to the increase in problem of PSED and increasing elderly population worldwide, companies in the market are emphasizing on introduction and development of new treatments. For example, the United States Food and Drug Administration (US FDA) and European Medicines Agency (EMA) have accepted many drugs in treating PSED. This tendency is anticipated to last in the predicted period, pushing the growth of the market.
Rise in the problem of diabetes is another trend in the market
With the increase in the problem of diabetes worldwide, the problem of disorders in the eye is rising with an increased pace across the world. Disorders of eye like, glaucoma, diabetic retinopathy, macular edema (matures with the diabetic retinopathy), and cataracts affects the diabetic people. This has been raised or rising the need for secure and real treatment, pushing the market growth of the PSED worldwide.
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Global Posterior Segment Eye Disorders Market Restraints:
Strict rules and guidelines to hamper the market growth
The main factor anticipated to hinder the market growth of the PSED worldwide is the strict guideline policies. Supervisory establishments like EMA and US FDA control the market of PSED to safeguard access to secure, apt, and inexpensive diagnostic and therapeutic products. Furthermore, the drugs disorders of the eye are mostly found in the market without prescription is measured and national level authorization, which results in delaying of the launch of the product and at times, recalling of product happens.
Lack of main infrastructure to hinder the market growth
The other factor which is hindering the market growth of the PSED worldwide is the absence of proper infrastructure for the disease in the eyes in emerging and not evolved countries. The population in both the cases is rising at an increased pace and thus the problem of diseases is rising, which is affecting the healthcare system in these regions owing to absence of proper healthcare frameworks for diseases of the eye. Though, in the evolved and the non-evolved countries, frameworks are being developed.
Global Posterior Segment Eye Disorders Market Segmentation
Globally, the market of PSED is divided into Product, Geography and Application.
On the basis of product, the segment of PSED worldwide is divided into Drugs and devices,. Among which, the segment of drug is anticipated to control the market in the predicted period and this is credited to the rise in need for secure and real drugs; mainly used in treating PSED.
On the basis of application, the market is divided into Macular Degeneration, Diabetic Retinopathy, Glaucoma, and other Applications. Among which, the segment of glaucoma is anticipated to control the market in the predicted period and this is credited to the rise in incidence of glaucoma worldwide.
The segment of diabetic retinopathy is anticipated to experience substantial development in the coming future and this is owing to the increase in incidence of diabetes. The diabetic complexity of diabetic retinopathy impacts the eye severely which is caused mainly of high sugar level of the diabetic patients.
Global Posterior Segment Eye Disorders Market: Key Developments
Alcon in November 2021 acquired Ivantis Inc. in expanding the portfolio of the product by addition of Hydrus Microstent for surgery of glaucoma. Hydrus Microstent is the main product in Canada. Alcon will expand its existence by this acquisition in the market.
Roche in October 2021 got the consent from US FDA for Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant for treating people having neovascular or “wet “ AMD
Topcon Healthcare in February 2021 introduced its novel Glaucoma Module simplifying the glaucoma diagnosis. Theses product introduction are probably to raise the need of the drugs and devices for treating PSED in the country.
IRIDEX Corporation in February 2020 introduces a second generation MicroPulse P3 Device for glaucoma that is instinctive and easy to use and according to the company, more than 120,00 patients got treatment in more than 60 countries with MicroPulse P3 Device’s original version which is again anticipated to raise with the introduction of the latest and improved device.
Global Posterior Segment Eye Disorders Market: Key Companies Insights
Globally, the segment of PSED is very much competitive in nature. This is accredited to the rise in the problem of PSED across the world, consequently, companies in the market are emphasizing on introduction of new products in the market.
Some of the main companies operating in the market of PSED worldwide includes Novartis AG, Merck & Co. Inc., F. Hoffmann-La Roche AG, AbbVie Inc (Allergan), Alcon Inc., Bausch Health Companies Inc., Aerie Pharmaceuticals, Santen Pharmaceutical Co. Ltd., Second Sight Medical Products Inc., Rainbow Medical Ltd (Nano Retina), and Regeneron Pharmaceuticals Inc.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Posterior Segment Eye Disorders Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Posterior Segment Eye Disorders Industry Impact
Chapter 2 Global Posterior Segment Eye Disorders Competition by Types, Applications, and Top Regions and Countries
2.1 Global Posterior Segment Eye Disorders (Volume and Value) by Type
2.3 Global Posterior Segment Eye Disorders (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Posterior Segment Eye Disorders Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Posterior Segment Eye Disorders Market Analysis
Chapter 6 East Asia Posterior Segment Eye Disorders Market Analysis
Chapter 7 Europe Posterior Segment Eye Disorders Market Analysis
Chapter 8 South Asia Posterior Segment Eye Disorders Market Analysis
Chapter 9 Southeast Asia Posterior Segment Eye Disorders Market Analysis
Chapter 10 Middle East Posterior Segment Eye Disorders Market Analysis
Chapter 11 Africa Posterior Segment Eye Disorders Market Analysis
Chapter 12 Oceania Posterior Segment Eye Disorders Market Analysis
Chapter 13 South America Posterior Segment Eye Disorders Market Analysis
Chapter 14 Company Profiles and Key Figures in Posterior Segment Eye Disorders Business
Chapter 15 Global Posterior Segment Eye Disorders Market Forecast (2023-2030)
Chapter 16 Conclusions
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