The global retinal gene therapy market is anticipated to experience robust growth during the projected period, with a compound annual growth rate (CAGR) of 9.2%. Following a valuation of USD 89.9 million at the end of 2022, the market is expected to rise to USD 97.3 million in 2023 and reach USD 235.4 million by 2033. This growth reflects the increasing demand for innovative therapies targeting retinal diseases and conditions.
Key Growth Drivers
Several factors are propelling the anticipated growth of the retinal gene therapy market:
- Rising Prevalence of Retinal Disorders: The growing incidence of retinal diseases, such as age-related macular degeneration and retinitis pigmentosa, is driving the demand for effective treatment options, including gene therapy.
- Technological Advancements in Gene Therapy: Continuous innovations in gene therapy techniques are enhancing treatment efficacy and safety, leading to increased adoption by healthcare providers and patients.
- Growing Research and Development Activities: Significant investments in research and development for retinal gene therapies are fostering the development of new and more effective treatment options.
Retinal gene therapy is a treatment approach that aims to restore or replace the faulty or missing genes that cause inherited retinal diseases. Inherited retinal diseases like Retinitis Pigmentosa or Leber Congenital Amaurosis occur due to a genetic mutation that leads to the degeneration of photoreceptor cells in the retina, ultimately leading to vision loss or blindness.
Retinal gene therapy is a promising approach as it has the potential to provide a one-time treatment that could help patients with inherited retinal diseases to maintain or restore their vision. However, this treatment is still in the early stages of development and is not yet available as a standard treatment.
Competitive Landscape
Due to the high market concentration and sub-segmented market, companies are relying on research and development of novel therapies to deliver the treatment more effectively and efficiently. Companies such as Janssen Biotech, have currently entered the market and continue to invest heavily in research and development.
Overall, research and development, strategic collaborations, regulatory approvals, and international expansion remain top priorities for companies looking to increase their market share in the retinal gene therapy industry, with competition driving innovation, and making the therapy available and more cost-effective on a wider scale.
For instance:
- In December 2021, Ocugen, Inc. announced that the USA FDA approved its application for an investigational new drug to start a phase 1/2 clinical evaluation for the gene therapy potential candidate OCU400 for the treatment of inherited retinal degeneration.
- In October 2021, GenSight Biologics announced that the FDA granted GS030 optogenetic therapy for the medical treatment of retinitis pigmentosa fast track status.
Key Companies Profiled
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 Retinal Gene Therapy Market 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
Author By:
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 stands as 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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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