Global Inherited Retinal Diseases Market, By Disease Type (Retinitis Pigmentosa, Stargardt’s Disease, Achromatopsia, Cone-Rod Dystrophy, Choroideremia, Leber Congenital Amaurosis, Macular Edema, Others), Type (Diagnosis, Therapy), End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Home Healthcare, Others), Distribution Channel (Retail Sales, Direct Tender) – Industry Trends and Forecast to 2031.
Inherited Retinal Diseases Market Analysis and Size
As per the recent data Retinitis pigmentosa (RP), a group of inherited retinal diseases characterized by progressive degeneration of the retina has an incidence rate estimated to be around 1 in 3,500 to 1 in 4,000 individuals. Also, Retinoblastoma, a rare form of eye cancer that primarily affects children has an incidence rate estimated to be around 1 in 15,000 to 1 in 20,000 live births.
Data Bridge Market Research analyzes that 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. “Diagnosis” dominates the type segment of the market due to the growing demand for better methods for treatment and diagnosis in patients. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, and Pricing in USD
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Segments Covered
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By Disease Type (Retinitis Pigmentosa, Stargardt’s Disease, Achromatopsia, Cone-Rod Dystrophy, Choroideremia, Leber Congenital Amaurosis, Macular Edema, Others), Type (Diagnosis, Therapy), End-User (Hospitals, Specialty Clinics, Ambulatory Surgical Centers, Home Healthcare, Others), Distribution Channel (Retail Sales, Direct Tender)
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Countries Covered
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U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, Rest of Middle East & Africa
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Market Players Covered
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Spark Therapeutics (U.S.), Novartis AG (Switzerland), Okuvision (Germany), Nidek Co. Ltd. (Japan), Invitae Corporation (U.S.), Carl Zeiss Meditech AG (Germany), Optos (A Subdidiary of Nikon Corporation) (U.K.), Neurosoft (Russia), PIXIUM VISION (France), LKC TECHNOLOGIES, INC. (U.S.), Renurone (U.K.), 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 (U.S.), MeiraGTx Limited (U.K.), Gensight Biologics (France), ProQR Therapeutics (Netherlands), Bionic Vision Technologies (Australia)
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Market Opportunities
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Market Definition
Inherited retinal diseases-or IRDs-are a group of diseases that can cause severe vision loss or even blindness. Each IRD is caused by at least one gene that is not working as it should. IRDs can affect individuals of all ages, can progress at different rates, and are rare. However, many are degenerative, which means that the symptoms of the disease will get worse over time. Common types of IRDs include Leber Congenital Amaurosis (LCA), Retinitis Pigmentosa, Choroideremia, Stargardt’s Disease, and Achromatopsia.
Global Inherited Retinal Diseases Market Dynamics
Drivers
- Increase in the Prevalence of Inherited Retinal Diseases
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. The prevalence of monogenic IRDs is approximately 1 in 2000, affecting two million people online.
- Increasing in Pipeline Products
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 inherited retinal diseases market. High prevalence of genetic conditions.
Opportunities
- Increasing awareness and diagnosis
With growing awareness among healthcare professionals and patients, there is an opportunity to improve the diagnosis rate of IRDs. Early detection and diagnosis can lead to timely intervention and management of these diseases, potentially improving patient outcomes.
- Expansion of treatment options
The IRD market has the opportunity to expand the range of treatment options available. Besides gene therapy, other approaches such as stem cell therapy, pharmacological interventions, and retinal implants are being explored. Advancements in these areas can provide additional treatment options for patients with IRDs.
Restraints/Challenges
- High treatment cost
The cost of treatment for IRDs can be a significant restraint for patients and healthcare systems. Innovative therapies such as gene therapy can be expensive, making them inaccessible to a large portion of the population. The high cost of treatment can limit patient access and pose financial challenges for healthcare providers and payers.
- Limited awareness and diagnostic challenges
Despite advancements in understanding and diagnosing IRDs, there is still a lack of awareness among healthcare professionals and the general public. This can lead to delayed or missed diagnoses, preventing timely intervention and management of these diseases. Additionally, diagnosing IRDs can be challenging due to the wide range of genetic mutations and phenotypic variability associated with these diseases. Improving awareness and diagnostic capabilities are essential challenges that need to be addressed in the IRD market.
This inherited retinal diseases market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the inherited retinal diseases market contact Data Bridge Market Research for an analyst brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In January 2022, the world's leading organization committed to finding treatments and cures for blinding retinal diseases, has announced the launch of the Diana Davis Spencer Foundation Enhanced Translational Research Acceleration Program
Global Inherited Retinal Diseases Market Scope
The inherited retinal diseases market is segmented on the basis of disease type, type, end-users and distribution channel. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Disease Type
- Retinitis Pigmentosa
- Stargardt’s Disease
- Achromatopsia
- Cone-Rod Dystrophy
- Choroideremia
- Leber Congenital Amaurosis (LCA)
- Macular Edema
- Others
Type
- Diagnosis
- Therapy
End User
- Hospitals
- Specialty Clinics
- Ambulatory surgical center
- Home Healthcare
- Others
Distribution Channel
- Retail Sales
- Direct Tender
Global Inherited Retinal Diseases Market Regional Analysis/Insights
The inherited retinal diseases market is analysed and market size insights and trends are provided by country, disease type, type, end-users and distribution channel as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Poland, Switzerland, Netherlands, Hungary, Austria, Norway, Ireland, Turkey, Lithuania, rest of Europe, China, Japan, India, Australia, South Korea, Singapore, Thailand, Malaysia, Indonesia, Philippines, Vietnam, rest of Asia-Pacific, Brazil, Argentina, Peru, rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt, and rest of Middle East & Africa.
North America is expected to dominate the market due to the strong base of healthcare facilities, the strong presence of major players in the market, the extraordinary healthcare infrastructure, and the large pool of people having genetic eye diseases.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in government initiatives to promote healthcare, the rising health awareness among the people and growing demand for advanced medical technology for diagnosis and treatment procedures, the large population pool, and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed Base and New Technology Penetration
The inherited retinal diseases market also provides you with a detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the inherited retinal diseases market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the inherited retinal diseases market.
Competitive Landscape and Inherited Retinal Diseases Market Share Analysis
The inherited retinal diseases market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the inherited retinal diseases market.
Some of the major players operating in the inherited retinal diseases market are:
- Spark Therapeutics (U.S.)
- Novartis AG (Switzerland)
- Okuvision (Germany)
- Nidek Co. Ltd. (Japan)
- Invitae Corporation (U.S.)
- Carl Zeiss Meditech AG (Germany)
- Optos (A Subdidiary of Nikon Corporation) (U.K.)
- Neurosoft (Russia)
- PIXIUM VISION (France)
- LKC TECHNOLOGIES, INC. (U.S.)
- Renurone (U.K.)
- 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 (U.S.)
- MeiraGTx Limited (U.K.)
- Gensight Biologics (France)
- ProQR Therapeutics (Netherlands)
- Bionic Vision Technologies (Australia)
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