In the coming years, the Global Retinal Gene Therapy Industry is poised for substantial growth, driven by factors that underscore the rising demand for efficient therapeutic solutions. Recent in-depth market research conducted by [Your Company Name or FMI] indicates a projected Compound Annual Growth Rate (CAGR) of 9.2% over the forecast period, culminating in a remarkable market value of US$ 235.4 Million by the year 2033.
One of the prominent factors is the growing incidence rate of inherited retinal diseases globally, such as age-related macular degeneration (AMD), Stargardt disease and retinitis pigmentosa, and other inherited forms of blindness, creating a massive unaddressed patient pool that retinal gene therapy could treat. This high unmet need has given a powerful impetus to the rise of innovative gene therapies to fulfill these unmet medical needs.
Advances in technology in gene therapy research and development, have expedited the delivery and execution of retinal gene therapy. Favorable regulatory frameworks, strong governmental support, and funding towards retinal gene therapy research and development, further enhance market growth.
Expansion opportunities in new geographic regions and the potential for new therapies beyond the gene therapy space for the betterment of vision research.
The Global Retinal Gene Therapy Industry is expected to continue experiencing rapid growth with the potential to reach new milestones and provide breakthrough treatments for inherited retinal diseases and other forms of blindness.
In conclusion, the retinal gene therapy market is expected to continue on a trajectory of rapid growth with the global incidence of retinal diseases and the need for treatments driving the need for continued innovation and research in the field.
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Key Takeaways from Global Retinal Gene Therapy Industry Study
- By indication, Stargardt disease segment held a prominent market share of about 8% in the global market, in 2022 owed to its high prevalence creating high demand for retinal gene therapy.
- By end user, hospitals held a market share of around 6% in 2022 as they provide specialization and expertise in delivering the therapy.
- North America dominated the global market with U.S. contributing around US$ 30.8 Million in 2022.
“Technological advancements and increasing capital investment in research and development efforts by the government and private organizations to create lucrative opportunities for the Global Retinal Gene Therapy Industry throughout the forecast period,” says an analyst of Future Market Insights.
Global Retinal Gene Therapy Industry Competition
The market is characterized by a high level of market concentration, with a few key players dominating the market. However, these key players aim to promote innovation via continuous developments of new therapeutic pipelines and strategic collaborations, driving competition, and new commercial opportunities.
- In October 2020, Novartis acquired Vedere Bio, a company that specializes in optogenetics and AAV gene therapy.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Global Retinal Gene Therapy Industry in its latest study, presenting a historical demand assessment of 2017 – 2022 and projections for 2023 – 2033. The global retinal gene therapy market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The research study is based on the by indication – (leber congenital amaurosis (LCA), Stargardt disease, choroideremia, x-linked retinitis pigmentosa (RP), and others), end user – (hospitals, academic & research institutes, ophthalmic clinics, and others), across seven key regions of the world.
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Key Companies Profiled in the Global Retinal Gene Therapy Industry:
- Gyroscope Therapeutics (Novartis)
- Applied Genetic Technologies Corporation (AGTC)
- Spark Therapeutics
- Adverum Biotechnologies
- REGENXBIO Inc.
- Biogen Inc.
- Nightstar Therapeutics
- MeiraGTx Holdings plc
- GenSight Biologics
- RetroSense Therapeutics
- Second Sight Medical Products
- Oxford Biomedica
- Hemera Biosciences
- Adverio Pharmaceuticals
Key Market Segments Covered in Global Retinal Gene Therapy Industry Analysis
By Indication:
- Leber Congenital Amaurosis (LCA)
- Stargardt Disease
- Choroideremia
- X-linked Retinitis Pigmentosa (RP)
- Others
By End User:
- Hospitals
- Academic & Research Institutes
- Ophthalmic Clinics
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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About Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here.
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI is the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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