Posterior Segment Eye Disorders Market Share Extends at a Healthy CAGR of 4.83% by 2031

Introduction

Among the illnesses affecting the posterior segment of the eye are glaucoma, diabetic retinopathy, and age-related macular degeneration. These conditions are mainly connected to conditions affecting the retina, choroid, and optic nerve. Eye disorders in the posterior segment are one of the leading causes of visual impairments worldwide. Its prevalence is gradually rising due to the rising prevalence of eye diseases, diabetes, the aging population, and other factors. As more studies show a connection between posterior eye disorders and vision loss, the demand for diagnostics and therapeutics is growing.

Market Dynamics

Rising Therapeutic R&D and Development of Device Technologies Drive the Global Market 

Companies in the field and other research institutions are continuously working to advance therapeutic options for posterior segment eye disorders through cutting-edge research and significant financial investment due to the rising prevalence of posterior segment eye disorders worldwide and the resulting demand for practical diagnostic and therapeutic approaches. Because new therapeutics are anticipated to improve procedure safety and reduce costs, this is expected to fuel the market's growth during the forecast period. According to the Glaucoma Research Foundation's February 2020 report, technological advancements have increased the use of selective laser trabeculoplasty (SLT) and several other treatment options, like micro-invasive glaucoma surgery. According to the same source, the study's market is anticipated to grow due to an increase in the number of glaucoma drugs that have recently received regulatory authority approval.

Rising Incidence of Diseases to Aid Market Growth Creates Tremendous Opportunities

The prevalence of diseases affecting the posterior segment of the eye, their risk factors, such as diabetes and aging, and the introduction of new therapeutic products will be the main drivers of future market growth for posterior segment eye disorders. Additionally, it is anticipated that the burden of posterior segment eye disorders will increase due to the increased prevalence of risk factors like diabetes worldwide, which will further fuel the expansion of the study market. The development of powerful new drugs and a better understanding of these conditions will result from the expansion of research and development in the field and new funding for the creation of potent therapeutics to treat conditions affecting the posterior segment of the eye, both of which will contribute to the future expansion of the market under study.

Regional Analysis

North America, the most significant revenue contributor, is anticipated to grow at a CAGR of 5.35% during the forecast period. Sales in the United States dominate the market for posterior segment eye disorders. Rising consumer awareness, product introductions, intense pharmaceutical industry R&D, and significant market players in the country contribute to the market's expansion. According to the Centers for Disease Control and Prevention (CDC), 4.1 million Americans will have diabetic retinopathy by 2020. Almost 900,000 will risk developing retinopathy that could cause vision loss. Diabetic retinopathy is one of the most prevalent eye conditions affecting the posterior segment. Growing prevalence will make treatment more necessary for a large population and encourage market growth across the country.

Europe is anticipated to grow at a CAGR of 4.83% and produce USD 13,636.83 million during the forecast period. Due to the introduction of new products by major players and locally published clinical studies, the market for posterior segment eye disorders has expanded. Introducing new products is the main factor driving the segment's growth in the country. For instance, Alimera Sciences Inc. launched ILUVIEN in Germany in September 2019 to stop the progression of recurrent, non-infectious uveitis that affects the posterior segment of the eye. The launches of these products provide superior products with state-of-the-art therapies for conditions affecting the posterior part of the eye. As a result, these product launches to speed up the country's market growth.

Key Highlights

• The global posterior segment eye disorder market was valued at USD 29,304.31 million in 2022. It is expected to reach USD 44,802.4 million by 2031, growing at a CAGR of 4.83% during the forecast period (2023–2031).

• Based on the product, the global posterior segment eye disorders market is bifurcated into drugs and devices. The drugs segment is the highest contributor to the market and is expected to grow at a CAGR of 5.39% during the forecast period.

• Based on application, the global posterior segment eye disorders market is bifurcated into macular degeneration, glaucoma, and diabetic retinopathy. The macular degeneration segment is the highest contributor to the market and is expected to grow at a CAGR of 5.58% during the forecast period.

• North America is the most significant revenue contributor and is expected to grow at a CAGR of 5.35% during the forecast period.

Competitive Players

Competitive Players

The global posterior segment eye disorders market’s major key players are Alcon Inc., AbbVie Inc. (Allergen PLC), Bausch Health Companies Inc., F Hoffmann-La Roche, Merck and Co. Inc., Novartis AG, Santen Pharmaceuticals, Rainbow Medical Ltd (Nano Retina), Regeneron Pharmaceuticals Inc., Second Sight Medical Products Inc., and Aerie Pharmaceuticals.

Recent Developments

Market News

• In August 2022, Alcon purchased Aerie Pharmaceuticals, Inc., expanding its line of ophthalmic medications.

• In October 2022, Anti-PRAME (EPR 20330) Rabbit Monoclonal Primary Antibody was introduced by Roche to detect the expression of the PRAME protein in tissue samples from people who may have had melanoma.

Segmentation

Global Posterior Segment Eye Disorders Market: Segmentation

By Product

• Drugs

• Devices

By Application

• Macular Degeneration

• Glaucoma

• Diabetic Retinopathy

By Regions

• North America

• Europe

• Asia-Pacific

• South America

• The Middle East and Africa.