The ophthalmology gene therapy market involves gene-based treatments for various ocular diseases such as age-related macular degeneration, retinitis pigmentosa, Leber congenital amaurosis, and others. Increasing prevalence of ophthalmic diseases such as glaucoma, age-related macular degeneration, and diabetic retinopathy is propelling the demand for advanced therapeutic approaches such as gene therapy. Gene therapy involves replacing defective genes or adding new genes to treat genetic disorders. It provides long-term treatment benefits compared to repeated intravitreal injections required for retinal diseases.
The gene therapy in ophthalmology market is estimated to be valued at USD 1.2 Bn in 2024 and is expected to reach USD 5.8 Bn by 2031, growing at a compound annual growth rate (CAGR) of 25.2% from 2024 to 2031.
Key players: Key players operating in the gene therapy in ophthalmology are Spark Therapeutics, MeiraGTx, Oxford BioMedica, Novartis, and Biogen. Spark Therapeutics' voretigene neparvovec became the first gene therapy drug approved by the FDA for an inherited retinal disease.
Key opportunities: Increasing R&D investments by key players and rising clinical trials for various retinal diseases present lucrative opportunities. For instance, Phase-III clinical trials are being conducted for retinal diseases like retinitis pigmentosa and Stargardt disease.
Global expansion: Major players are focusing on geographic expansion, especially in Asia Pacific and Europe through strategic collaborations. For instance, MeiraGTx expanded its footprints in UK, Spain, France, Italy, and China through partnerships with Jiangsu Kanghong Pharmaceutical and Gyroscope Therapeutics.
Market drivers: The key driver for the Gene Therapy in Ophthalmology Market is the growing prevalence of retinal diseases. As per estimates, nearly 187 million people are affected with some form of retinal disease worldwide. aging populations in developed countries have further increased the burden of retinal degenerative diseases and vision loss. This is expected to drive the demand for advanced treatment approaches like gene therapy in the coming years.
PEST Analysis
Political: Gene therapy regulations and clinical trial approvals impact the market. Regulations are continuously evolving with advancing technology.
Economic: Healthcare expenditures and availability of funding impact development and adoption of high-cost gene therapies. Economic conditions also affect patient accessibility and affordability.
Social: Growing aging population and prevalence of genetic and chronic eye diseases drive demand. Social acceptance of genetic engineering technologies will impact commercialization prospects.
Technological: Advancements in vector engineering, gene editing, and delivery methods are expanding the applications of ophthalmic gene therapy. Digital health also supports remote patient monitoring and access.
North America leads the ophthalmic gene therapy market in terms of value currently, supported by advanced research, availability of funding, and healthcare infrastructure. The presence of major market players and ongoing clinical trials for various target diseases contribute to market concentration in the region.
The Asia Pacific region is poised to be the fastest growing market for ophthalmic gene therapy globally. Factors such as the rising geriatric population, growing incidence of chronic eye diseases, increasing healthcare investments, and developing research capabilities present lucrative growth opportunities. China and India are anticipated to lead market growth in the coming years. Expanded insurance coverage and supportive regulations would encourage market expansion.
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