The global retinal drugs market is expected to see a healthy growth curve in the forthcoming years. According to a recently published report by Transparency Market Research (TMR), the surge in incidence of ophthalmic disorders is a key factor driving the global retinal drugs market. The report, titled, “Retinal Drugs Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” discusses the complete market structure and throws light on the factors likely to impact the retinal drugs market over the forecast period from 2017 to 2025. The report analyzes factors expected to affect the size and valuation of the market in the years to come, along with the major industry trends influencing the market.
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The retina is a highly delicate and vulnerable body part, which carries out the primary function of receiving, processing and converting light signals into neural signals, and provides visual information to the brain. Retinal disorders occur mainly due to wear and tear due to age, or owing to health disorders such as diabetes or edema. The major kinds of retinal disorders include retinal degeneration, macular degeneration, macular edema, retinoschisis, uveitis, macular hole, and macular edema. There has been an increased interest in the production of retinal drugs for the treatment of ophthalmic disorders, and specifically retinal ailments. The emergence of biologics and drug releasing implants is leading to a generation of substantial interest in the arena, providing a thrust to the growth of the global retinal drugs market.
According to the American Academy of Ophthalmology, nearly 93 million individuals were diagnosed with diabetic retinopathy in 2016, out of which 4.2 million were U.S. residents. Several governments across the world are undertaking initiatives to increase the awareness regarding diagnosis and treatment of retinal disorders. These attempts are expected to gain traction in the coming years, fuelling the market for retinal drugs to a great extent.
Based on geographical segmentation, North America is expected to lead the global market for retinal drugs on account of massive thrust on research and development activities, high per capita medical spends, and surging patient population in the region. The region comprises of a copious number of people suffering from age related macular disorder (AMD), and the number is expected to keep growing. Europe, is anticipated be the next most lucrative market, with the region’s residents having high awareness about ophthalmic disease treatment methods. With a large diabetic population, Asia Pacific is predicted to exhibit a high growth rate in the global retinal market as well.
Some of the leading vendors operating in the global retinal drugs market are Regeneron Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Santen Pharmaceutical Co., Ltd., Merck & Co., Inc., and Novartis International AG.