Posterior Segment Eye Disorders Market

Market Overview

The global posterior segment eye disorders market size 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).

The disorders of the posterior segment of the eye include, among other diseases, glaucoma, age-related macular degeneration, and diabetic retinopathy. These disorders are primarily linked to retina, choroid, and optic nerve diseases. One of the main contributors to visual impairments worldwide is disorders of the posterior segment of the eye. With the rising incidence of eye diseases, diabetes, the aging population, and other factors, its prevalence is gradually increasing. The need for diagnostics and therapeutics is rising due to numerous additional research studies demonstrating a link between posterior eye disorders and vision loss.

Market Dynamics

Global Posterior Segment Eye Disorders Market Drivers

Growth in Research and Development 

With the increasing prevalence of posterior segment eye disorders worldwide and the resulting demand for practical diagnostic and therapeutic approaches, 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. As a result, this is anticipated to fuel the market's growth during the forecast period, as new therapeutics are predicted to increase procedure safety and lower costs. 

According to the Glaucoma Research Foundation's February 2020 report, selective laser trabeculoplasty (SLT), along with several other treatment options like micro-invasive glaucoma surgery, has become more prevalent in recent years due to technological advancements. Additionally, according to the same source, the number of drugs used to treat glaucoma that has received regulatory authority approval in recent years has increased, which is expected to fuel growth in the market under further study.

Conscious Regulatory Actions

The posterior segment eye disorders market is regulated by regulatory bodies established by various governments of the world through strict regulatory policies to ensure public access to safe, appropriate, and affordable diagnostics and therapeutics products. This impacts manufacturers by delaying approvals and pr. Strict regulations make it harder for pharmaceutical companies to comply with outdated or incompatible laws and the process for a new commercial test to gain regulatory marketing approval. Depending on the drug's complexity, this process may be expensive and time-consuming. Many therapeutic ideas never reach a clinical trial, where efficacy and safety are assessed on volunteer patients. Sometimes a promising drug or therapy is never released to the market due to compliance or safety issues, which also affects market development. The strict regulations around the world impact manufacturers in terms of product approvals and other ways, which is expected to slow the growth of the posterior segment eye disorders market globally during the forecast period.

Global Posterior Segment Eye Disorders Market Restraints

Lack of Primary Infrastructure in Underdeveloped and Developing Countries

In developing and underdeveloped nations, the population and the disease burden are expanding quickly. This strain on the medical and healthcare systems is caused by the absence of adequate healthcare infrastructure for conditions like eye diseases and other conditions related to the eyes in these areas. Therefore, it is anticipated that fewer disorders associated with the posterior segment of the eye will be identified or treated due to the lack of medical resources in these areas, which may impede the growth of the studied market over the forecast period. Additionally, because there is a need for primary healthcare infrastructure in these developing and underdeveloped countries, diagnostic and treatment services are very expensive and primarily provided by private healthcare providers, which impacts the region's poor. As a result, the accessibility of healthcare services declines in developing and underdeveloped regions, which has a detrimental effect on the market's expansion.

Global Posterior Segment Eye Disorders Market Opportunities

Rising Incidence of Diseases to Aid Market Growth

Future market growth for posterior segment eye disorders will be primarily driven by the rising incidence of diseases affecting the posterior segment of the eye, their risk factors, including diabetes and aging, and the introduction of new therapeutic products. Additionally, it is anticipated that the burden of posterior segment eye disorders will rise due to the rising prevalence of risk factors like diabetes worldwide, which will fuel the study market's expansion over the coming years. Furthermore, 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 will result in the introduction of powerful new drugs and a greater understanding of these conditions, both of which will contribute to the future expansion of the market under study.

Regional Analysis

By region, the global posterior segment eye disorders market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

North America Dominates the Global Market

North America is the most significant revenue contributor and is expected 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. The market is expanding due to rising consumer awareness, product launches, intensive pharmaceutical industry R&D, and the presence of significant market players in the nation. The Centers for Disease Control and Prevention (CDC) estimates that in 2020, approximately 4.1 million Americans will have diabetic retinopathy, and close to 900,000 will be at risk for vision-damaging retinopathy. One of the most common posterior segment eye disorders is diabetic retinopathy. Growing prevalence will increase the need for treatment among a large population and spur market expansion in the nation.

Europe is expected to grow at a CAGR of 4.83% during the forecast period. The market for posterior segment eye disorders has increased due to product launches by major players and locally published clinical studies. The primary driver of the segment's growth in the nation is the introduction of new products. For instance, in Germany, ILUVIEN was introduced in September 2019 by Alimera Sciences Inc. to prevent relapse in recurrent non-infectious uveitis that affects the posterior segment of the eye. These product launches offer superior products with cutting-edge treatments for diseases of the rear part of the eye. As a result, the market growth in the nation is accelerated by these product launches.

Asia-Pacific is expected to grow significantly over the forecast period. Due to factors like the rising prevalence of eye disorders, increased R&D spending, product launches, and partnerships and agreements among market participants, the Posterior Chinese segment of eye disorders are predicted to expand over the forecast period. The market is increasing due to ongoing research and clinical trial studies for product development. The regulatory approval of the drugs and devices also helps the market expand. Additionally, the cooperation among market participants for the commercialization of pharmaceuticals and medical devices in the region is fueling market expansion over the foreseeable future.

The Gulf Cooperation Council (GCC) region comprises Saudi Arabia, Kuwait, Bahrain, Qatar, United Arab Emirates, and Oman. The rising disease burden and the number of research studies are a few of the factors fueling the market's expansion. Numerous studies are being carried out in the area under the. For instance, a paper titled "Primary Antiphospholipid Syndrome: A Hidden Predisposing Factor for Retinal Vein Occlusion and Choroidal Neovascular Membrane Formation Among Young Population" published in September 2021 in the Journal of the Bahrain Medical Society stated that antiphospholipid syndrome could result in a variety of systemic and ophthalmic manifestations. With routine diagnosis and treatment plans, several consequences brought on by this illness can be prevented. This will speed up market expansion by increasing the frequency of diagnoses and treatments.

Brazil has one of the largest economies in South America. As a result of the rising prevalence of eye diseases affecting the posterior segment of the eye, the market for posterior segment eye disorders is anticipated to expand there. According to a research study titled "Regional differences in the prevalence of diabetic retinopathy: a multicenter study in Brazil" that was published in March 2018, for example, diabetic retinopathy has a significant impact on the healthcare system of the country because of the high burden of diabetes in the area. The Midwest region of Brazil had a higher prevalence of proliferative diabetic retinopathy and diabetic macular edema, which is expected to drive the growth of these conditions. Additionally, introducing new products by the major market players in the region will boost the country's drug supply and reduce the market's rising demand for therapeutic drugs. As a result, the market is anticipated to expand over the forecast period.

Segmental Analysis

The global posterior segment eye disorders market is segmented by product and application.

Based on the product, the global 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. The drugs segment is subdivided into small molecules and biologics. Sugars, proteins, nucleic acids, complex mixtures of these substances, or possibly living things like cells and tissues make up biologics. It can be isolated from sources like people, animals, or microorganisms. During the anticipated period, factors like increasing R&D along with product launches and research studies showing the efficacy of biologics are fueling the market segment's growth. Introducing products and regulatory authority approvals have also helped the market segment.

The devices segment is subdivided into therapeutic devices and diagnostic devices. Therapeutic devices are primarily used to treat disorders of the posterior segment of the eye, such as glaucoma, by lowering intraocular pressure, delivering drugs, or implanting devices, such as those used in minimally invasive glaucoma surgery (MIGS). Due to the physical barriers of the eye, eye drops and systemically administered medications cannot reach therapeutic drug concentrations in the posterior segment of the eye. As a result, intraocular drug delivery systems are essential in treating posterior eye disorders, which cause the part to expand.

Based on application, the global market is bifurcated into macular degeneration, glaucoma, and diabetic retinopathy.

The macular degeneration segment owns the highest and is expected to grow at a CAGR of 5.58% during the forecast period. The macula, a component of the retina, causes clear vision to deteriorate in the direct line of sight. Due to macula thinning, macular degeneration causes blurred or reduced central vision. Age-related macular degeneration is another name for macula degeneration. During the anticipated period, factors like the rising disease burden, field R&D, disease awareness campaigns, and product launches will continue to fuel market segment growth. Additionally, the market participants' initiatives to spread disease awareness promote market segment growth. Introducing new products and regulatory agency approval contribute to the market segment's growth.

Glaucoma develops when the usual fluid pressure within the eyes steadily rises. It is a group of conditions that can harm the optic nerve in the eye, impair vision, and even cause blindness. There are two types: closed-angle glaucoma, which develops suddenly and is painful, and open-angle glaucoma, a chronic disease. The market is expected to proliferate over the coming years due to factors like the rising prevalence of glaucoma, increased awareness campaigns by market participants, increased research and development, and product launches. Introducing new products and regulatory agency approvals contribute to market segment growth. The market participants' initiatives to increase awareness have also helped the market segment.

Recent Developments

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

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