The global inherited retinal diseases (IRDs) market is experiencing significant growth, driven by factors such as the increasing prevalence of IRDs, advancements in genetic testing technologies, and a growing focus on personalized medicine. IRDs are a group of rare genetic disorders that cause progressive vision loss, often leading to blindness. These diseases can have a profound impact on patient's quality of life and pose significant challenges for healthcare providers. Genetic testing plays a crucial role in the diagnosis and management of IRDs, as it can help identify the specific genetic mutations responsible for the disease. This information is essential for developing personalized treatment plans and providing patients with accurate prognoses. The market for genetic testing services is expected to continue expanding as more healthcare providers adopt these technologies and as the cost of testing decreases.
The Global Inherited Retinal Diseases Market which was USD 20,154.18 million in 2023, is likely to reach USD 37,028.54 million by 2031, and is expected to undergo a CAGR of 7.9% during the forecast period.
Below are the Top Five Inherited Retinal Diseases Companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Spark Therapeutics, Inc.
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Spark Therapeutics' lead product is Luxturna (voretigene neparvovec), which is the first FDA-approved gene therapy for the treatment of patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy. Luxturna is designed to restore functional vision in patients with this rare genetic mutation, offering a potentially life-changing treatment option. In addition to Luxturna, Spark Therapeutics is also developing gene therapies for other IRDs, including choroideremia and Stargardt disease.
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North America
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In 2021, Spark Therapeutics launched a scientific program to turn genes into medicines for patients with inherited diseases, including inherited retinal diseases (IRDs), liver-directed diseases such as hemophilia and lysosomal storage disorders, and neurodegenerative diseases. This program consisted of segments such as Cutting-edge vector design, State-of-the-art, in-house expertise in vector manufacturing, Innovative scientific and regulatory strategies, and a strong commitment to improving patient care.
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2.
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Novartis AG
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In the context of the global inherited retinal diseases market, Novartis has been involved in developing treatments for conditions such as Leber congenital amaurosis (LCA) and retinitis pigmentosa (RP). One of Novartis' key products in this area is voretigene neparvovec (trade name Luxturna), which is used to treat certain forms of IRDs caused by mutations in the RPE65 gene. Novartis is committed to advancing research and development in the field of ophthalmology and has a number of ongoing clinical trials aimed at developing new treatments for IRDs.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In 2018, Novartis AG entered into an exclusive licensing and commercialization agreement and a supply agreement with Spark for Luxturna outside the United States. The agreements include regulatory and sales milestones and royalty’s payable to Spark on ex-US sales. This will increase the sales of Luxturna.
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3.
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Okuvision
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Okuvision GmbH is a German biotechnology company specializing in the development of innovative therapies for inherited retinal diseases (IRDs). The company is headquartered in Tübingen, Germany. It focuses on developing gene therapies and other novel treatments for a variety of IRDs, including retinitis pigmentosa (RP) and Leber congenital amaurosis (LCA). Okuvision's flagship product is the OkuStim system, which is designed to stimulate retinal cells in patients with advanced stages of RP. The OkuStim® system works by delivering electrical impulses to the retina, which can help improve visual function in some patients.
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Europe
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In October 2021, the German Ophthalmological Society (DOG), the Retinological Society (RG), and the Professional Association of Ophthalmologists of Germany (Berufsverband der Augenärzte Deutschlands e.V., BVA) referred to electrostimulation as an option for the treatment of retinitis pigmentosa (RP) according to amendment of its guideline 25 (now guideline AWMF 045/23). This recognition is set to increase the application of Okustim therapy.
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4.
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NIDEK CO., LTD.
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In the context of the global inherited retinal diseases market, NIDEK CO., LTD. is known for its advanced imaging and diagnostic equipment used by ophthalmologists to diagnose and monitor IRDs. The company's products include fundus cameras, optical coherence tomography (OCT) devices, and other imaging systems that are essential for the accurate diagnosis and management of IRDs. NIDEK CO., LTD. is also involved in the development of novel treatment modalities for IRDs, including gene therapies and other innovative approaches.
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North America, Middle East and Africa, Europe, South America, Asia-Pacific
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In August 2019, NIDEK CO., LTD., a global leader in the design, manufacturing, and distribution of ophthalmic, optometric, and lens edging equipment, is pleased to announce the launch of the Mirante Scanning Laser Ophthalmoscope for the diagnosis of glaucoma and other disease. This product will increase the company's product portfolio.
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5.
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Invitae Corporation
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In the context of the global inherited retinal diseases market, Invitae Corporation provides genetic testing services that can help diagnose and identify the underlying genetic causes of IRDs. These tests can help healthcare providers develop personalized treatment plans and provide patients with valuable information about their condition. Invitae Corporation is known for its commitment to making genetic testing accessible and affordable, with a focus on improving patient outcomes and advancing the field of medical genetics.
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North America
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In April 2021, Invitae announced it had entered into a definitive agreement to acquire Genosity Inc. The acquisition would help the company to increase its product portfolio and eventually enhance its revenue.
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Conclusion
The global inherited retinal diseases (IRDs) market is witnessing significant growth and innovation, driven by advancements in genetic testing technologies, personalized medicine approaches, and the development of novel treatments such as gene therapy. The market is characterized by a growing emphasis on early diagnosis and personalized treatment plans aimed at improving patient outcomes and quality of life. Genetic testing plays a crucial role in the diagnosis and management of IRDs, enabling healthcare providers to identify specific genetic mutations and tailor treatment strategies accordingly. The market for genetic testing services is expected to continue expanding as awareness of IRDs increases and as testing technologies become more accessible and affordable.
