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May 17, 2019 | Healthcare
The Global Retinal Disease Therapeutics Market is likely to grow due to the rising incidence of vision impairment caused due to retinal disorders. According to a report published by Fortune Business Insights, titled “Retinal Disease Therapeutics: Global Market Analysis, Insights and Forecast, 2019-2026,” the market is likely to reach US$ 18,307.6 Mn by 2026. The global retinal disease therapeutics market was valued at US$ 11,031.1 Mn in 2018 and the market is likely to rise at a CAGR of 6.6% in the forecast period.
Macular Degeneration to Account for 42.9% of all Disease Indications
According to Fortune Business Insights, age related macular degeneration (MD) will be the root cause of 40% of all retinal diseases in the world. The global retinal disease therapeutics market is likely to gain traction due to factors such as active government participation for treatment of ophthalmic diseases and age related diseases such as AMD. Besides this, increasing cases of diabetes that lead to retinal diseases are leading to an increasing demand for improved diagnostic methods. In addition to prevalence of retinal diseases, the advancements made in treatment and diagnosis for these diseases are also boosting the global market. Increasing drug approvals, developments in drug doses, and successful clinical trials of recombinant drugs to treat retinal diseases are some of the other factors that favor the growth of the global retinal disease therapeutics market.
Major Advancements in Gene Therapy to Treat Retinal Diseases
In 2018, the Food and Drug Administration (FDA) approved a new gene therapy for treatment of retinal disorder. The therapy involved injecting a certain product under the retina. Clinical studies indicated that this was mostly beneficial in treating disorders in children, as well as improving vision for those with impaired or partial vision. The gene named ‘RPE65’ was finally approved by the FDA after years of failed clinical trials. Quickly after its approval, many public as well as private investment firms showed their intentions to buy patents, and some tried to acquire the drug altogether. This was a clear indication of how well this therapy is regarded among surgeons and other analysts. The efficient surgical effects of RPE65 are likely to favor the growth of the global retinal disease therapeutics market in the coming years.
Although RPE65 is currently used to treat disorders in children, there are major breakthrough concepts that have indicated that this drug can be modified to treat other disorders. The use of RPE65 in treating various diseases will lead to an increasing demand and the increasing use is likely to favor the growth of the global retinal disease therapeutics market in the forecast years.
Browse Complete Report Details @ https://www.fortunebusinessinsights.com/industry-reports/retinal-disease-therapeutics-market-100311
Growing Research and Development (R&D) Initiatives to Boost the Global Market
Recent drug advancements and therapies put forward by researchers worldwide have sparked an urge among its counterparts to come up with innovations of their own. Developments made in drug therapies and other diagnosis methods have encouraged investors to emphasize on R&D of new products. Many finance firms are looking to invest solely in R&D sections of established companies. Such growing investments and emphasis on R&D of newer drug delivery methods as well as disease therapies have boosted the global market and are likely to favor growth of the market in the coming years.
Some of the leading companies that are operating in the global retinal disease therapeutics market are Merck & Co., Inc., Novartis AG, Allergan plc, F. Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc., and Santen Pharmaceutical Co., Ltd.