High Prevalence of Inherited Retinal Diseases (IRDs) Drive the Demand for Inherited Retinal Disease Market

According to a paper published in Nature 2021, the prevalence of monogenic IRDs is approximately 1 in 2000 individuals, affecting more than two million people worldwide. Hence, the increasing prevalence and continuous discovery of new mutagenic sites that are genetically transmitted are expected to act as a driver for the growth of the market. Therefore, the global Inherited Retinal Disease market is estimated to increase rapidly over the forecast period.

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Data Bridge Market Research analyses that the Inherited Retinal Disease market is expected to grow at a CAGR of 7.9% in the forecast period of 2022 to 2029 and is expected to reach USD 1,409.56 million by 2029. The product launch by the companies in this market is still vast considering all the products in clinical trials, and due to which the revenue of the companies has increased continuously from the past recent revenue year. This is expected to propel the market size and will act as a driver for the global inherited retinal diseases market.

Inherited Retinal

Increase in Pipeline Products Is Expected to accelerate The Market's Growth Rate

The product in the inherited retinal diseases market can impact the market as the size of the market will positively increase when these products are approved in the global market. There are various products and some are mentioned below that are under pipeline. For instance, National Institutes of Health Clinical Center (CC) National Eye Institute (NEI) is conducting research for the Study of RS1 Ocular Gene Transfer for X-linked Retinoschisis at Phase 1/2 as of May 3, 2021. The study aims to evaluate the safety and tolerability of ocular AAV-RS1 vector (AAV8-scRS/IRBPhRS) gene transfer to the retina of participants affected with X-linked juvenile retinoschisis (XLRS). As clinical trial activity rises to new levels, the field appears poised to make rapid and important advances in IRD research and patient care. These are only a few common trials, thus, the companies operating in this market continuously do clinical trials and put their candidates in clinical trials. This is expected to create an opportunity and fuel the global inherited retinal diseases market.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2021 to 2028

Base Year

2020

Historic Years

2019 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

By Disease Type (Retinitis Pigmentosa, Stargardt's Disease, Achromatopsia, Cone-Rod Dystrophy, Choroideremia, Leber Congenital Amaurosis, Macular Edema, and Others), Type (Diagnosis and Therapy), End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Home Healthcare, Others), Distribution Channel (Retail Sales and Direct Tender)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Market Players Covered

Spark Therapeutics (U.S.), Novartis AG (Switzerland), Okuvision (Germany), Nidek Co. Ltd. (Japan), Invitae Corporation (U.S.), Zeiss AG (Germany), Optos (Austalia), Neurosoft (Greece), PIXIUM VISION (France), LKC TECHNOLOGIES, INC. (U.S.), Renurone Group plc, Astellas Pharma (Japan), REGENXBIO Inc. (U.S.), Ionis Pharmaceutics (U.S.), Sparing Vision (France), Ocugen Inc (U.S.), Johnson & Johnson (U.S.), IVERIC bio (U.S.), Second Sight (U.S.), Coave Therapeutics (France), MeiraGTx Limited (U.K.), Gensight Biologics (France), ProQR Therapeutics (Netherlands), Bionic Vision Technologies  (Australia)

Data Points Covered in Report

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Segment Analysis:

Global inherited retinal diseases market is categorized into four notable segments which are based on disease type, type, end user and distribution channel.

  • On the basis of disease type, the inherited retinal diseases market is segmented into Retinitis Pigmentosa, Stargardt's Disease, Achromatopsia, Cone-Rod Dystrophy, Choroideremia, Leber Congenital Amaurosis (LCA), Macular Edema and Others. In 2022, retinitis pigmentosa segment is expected to dominate the market with the highest CAGR of 9.6%

The retinitis pigmentosa segment is expected to dominate the market with the highest CAGR of 9.6%

In 2022, the retinitis pigmentosa segment is expected to dominate the market with the highest CAGR of 9.6% in 2022 to 2029. The retinitis pigmentosa segment dominates the inherited retinal diseases market owing to the high incidence of this disorder compared to the others disorder, which make it more common with a high rate of prevalence.

  • On the basis of type, the inherited retinal diseases market is segmented into diagnosis and therapy. In 2022, therapy segment is expected to dominate the market with the highest CAGR of 8.4% in the forecast period of 2022 to 2029. In 2022, therapy segment is expected to dominate the market with 68.70% market share and is expected to reach USD 998.08 million by 2029 from USD 523.52 million in 2021, growing with the highest CAGR of 8.4% in the forecast period of 2022 to 2029.
  • On the basis of end user, the inherited retinal diseases market is segmented into hospitals, specialty clinics, ambulatory surgical centers, home healthcare and others. In 2022, hospitals segment is expected to dominate the market with the highest CAGR of 9.1%

The hospitals segment is expected to dominate the market with the highest CAGR of 9.1%

In 2022, the hospitals segment is expected to dominate the market with the highest CAGR of 9.1% in 2022 to 2029. The hospital segment is expected to dominate the inherited retinal diseases market as hospitals specialize in conducting various surgical interventions and have a large professional portfolio available for proper treatment. Moreover, cost-effective and high quality diagnostic care and services in safe healthcare environment and are convenient for consulting physician/healthcare institution to outsource bulk diagnostics tests to independent diagnostic laboratories for better customer services.

  • On the basis of distribution type, the inherited retinal diseases market is segmented into direct tender, retail sales and others. In 2022, retail sales segment is expected to dominate the market with the highest CAGR of 8.5% in the forecast period of 2022 to 2029. The retail sales segment is expected to dominate the inherited retinal diseases market. They are the primary source of procurement of diagnostic and surgical devices and therapies by healthcare organizations and specialty clinics. The procurement of products through retail sales is highly cost effective and convenient for healthcare providers.

Major Players

Data Bridge Market Research recognizes the following companies as the major Inherited Retinal Disease market players in Inherited Retinal Disease market are Spark Therapeutics (U.S.), Novartis AG (Switzerland), Okuvision (Germany), Nidek Co. Ltd. (Japan), Invitae Corporation (U.S.), Zeiss AG (Germany), Optos (Austalia), Neurosoft (Greece), PIXIUM VISION (France), LKC TECHNOLOGIES, INC. (U.S.), Renurone Group plc, Astellas Pharma (Japan), REGENXBIO Inc. (U.S.), Ionis Pharmaceutics (U.S.), Sparing Vision (France), Ocugen Inc (U.S.), Johnson & Johnson (U.S.), IVERIC bio (U.S.), Second Sight (U.S.), Coave Therapeutics (France), MeiraGTx Limited (U.K.), Gensight Biologics (France), ProQR Therapeutics (Netherlands), Bionic Vision Technologies  (Australia)

Inherited Retinal

Market Development

  • In April 2020, Novartis announced that it has completed the acquisition of Amblyotech, a US-based software startup, and that it will pursue the development of the acquired digital technology for the treatment of amblyopia in collaboration with Ubisoft and McGill University. Amblyotech uses active gaming and passive video technology with 3-D glasses to train the eyes to work together to view an image in its entirety. Its software employs a novel visual presentation known as dichoptic display, in which each eye is shown a different image via a proprietary algorithm. Amblyotech's software improved vision in both children and adults in early clinical studies, with faster onset than the standard of care treatments4.
  • In February 2022, ReNeurin Group PLC announced a strategic updated that the company will now focus on the hRPC (human retinal progenitor cells) Phase 2a clinical trial for retinitis pigmentosa (RP) and an assessment of the commercial potential for its Exosome technology. This will help the company commercialize the product in the market in the forecast period.
  • In January 2021, ViGeneron GmbH, a gene therapy company, announced a global collaboration and licensing agreement with Biogen Inc. to develop and commercialize gene therapy products based on adeno-associated virus (AAV) vectors to treat inherited eye diseases. The companies will use ViGeneron's proprietary vgAAV, novel engineered AAV capsids, to efficiently transduce retinal cells via intravitreal injections.
  • In January 2021, the Italian Medicines Agency (AIFA) has given the go-ahead to reimburse Novartis' ophthalmic gene therapy Luxturna (voretigene abeparvovec) for treating hereditary dystrophy in pediatric and adult patients with vision loss due to confirmed biallelic mutation of the RPE56 gene who have sufficient, viable retinal cells.

Regional Analysis

Geographically, the countries covered in the Inherited Retinal Disease market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in Inherited Retinal Disease market during the forecast period

North America dominated the Inherited Retinal Disease market due to major key players. North America will continue to dominate the inherited retinal disease market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the growing adoption of advanced technology and well-developed healthcare infrastructure in this region.

Europe is estimated to be the fastest-growing region in Inherited Retinal Disease market

Europe is expected to grow during the forecast period due to the rising investment in the healthcare sector in this region. In addition to this, increasing patient pool and growing government support are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

The outbreak of COVID-19 largely impacted the inherited retinal disease industry. Lockdowns and isolation during pandemics complicate disease management and medication adherence. Social isolation increases stress, despair, and social support, all of which may cause a reduction in anticonvulsant medication adherence during the pandemic. As the admission of COVID-19 patients in hospitals increased, numerous procedures were canceled or postponed to reserve hospital beds and patient care staff to COVID-19 patient care. The lack of access to healthcare facilities for routine treatment and medication administration will further affect the market.

On the brighter side, there has been a decline in COVID-19 patients worldwide, which will result in increased attention toward the eye diseases. Moreover, the restrictions and measures are likely to relax, which will help market to witness a slight increment, as the manufacturers are focusing on various developments and innovations, market trends, and other expansion strategies. Thus, the Inherited Retinal Disease market will grow at an accelerated pace post COVID-19.

Frequently Asked Questions (FAQs)

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