The Retinal Disorder Treatment Market was worth US$ 9.6 billion in 2019 and is expected to grow at a CAGR of 7.9% through 2030. The global market is majorly driven by significant funding programs initiated by regulatory bodies intended to promote researches for ocular disorder. Moreover, rising occurrences of retinal disorders and increasing need for affordable and effective treatment solutions is likely to positively influence the market growth. According to a data published by National Eye Institute, in America over 10 and 14 million people are estimated to suffer from diabetic retinopathy by 2030 and 2050 respectively. Similarly, as per NCBI, in Europe individuals with early and late AMD are estimated to range between 14.9 million to 21.5 million and 3.9 to 4.8 million by 2040. Furthermore, increasing aging population is also considered as one of the major driving forces for growth of global market. As per World Population Prospects: 2019 Revision, by 2050 1 in 4 and 1 in 11 European and American citizens respectively will be aged above 65 years. Additionally, companies are focused on product innovations which is likely to positively influence the market growth. For instance, in 2017 Graybug Vision, Inc. announced that they have initiated a phase 1/ 2 trial of GB-102. The drug is used to treat wet age-related macular degeneration (AMD). As per Graybug Vision, Inc., the product is a novel intravitreal injectable depot formulation of sunitinib malate. Commercialization of novel pharmaceutical products is also expected to stimulate the market growth during the forecast period.
Read More@https://www.insightslice.com/retinal-disorder-treatment-market
