PUBLISHER: The Business Research Company | PRODUCT CODE: 1532064
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532064
Retinitis pigmentosa (RP) is a group of inherited disorders that cause progressive degeneration of the retina, leading to vision loss. It primarily affects photoreceptor cells (rods and cones), resulting in symptoms such as night blindness and tunnel vision. Over time, RP can lead to significant visual impairment and blindness.
The main types of retinitis pigmentosa include autosomal recessive, autosomal dominant, and X-linked. Autosomal recessive retinitis pigmentosa (AR-RP) is a form of the disease where a person must inherit two copies of the mutated gene, one from each parent, to be affected. Treatment options for retinitis pigmentosa include vitamin A, docosahexaenoic acid (DHA), calcium channel blockers, gene therapy, and retinal eye prosthetics, among others. The condition is diagnosed using methods such as electroretinogram, visual field testing, and genetic testing. Distribution channels for treatments include hospital pharmacies, retail pharmacies, and online pharmacies, and these treatments are utilized by various end-users such as hospitals, specialty clinics, and home care providers.
The retinitis pigmentosa market research report is one of a series of new reports from The Business Research Company that provides retinitis pigmentosa market statistics, including retinitis pigmentosa industry global market size, regional shares, competitors with a retinitis pigmentosa market share, detailed retinitis pigmentosa market segments, market trends and opportunities, and any further data you may need to thrive in the retinitis pigmentosa industry. This retinitis pigmentosa market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The retinitis pigmentosa market size has grown strongly in recent years. It will grow from $10.52 billion in 2023 to $11.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth during the historic period can be attributed to advancements in genetic research, the development of retinal imaging technologies, increased awareness campaigns, the rise of patient advocacy groups, and the expansion of clinical trial networks.
The retinitis pigmentosa market size is expected to see strong growth in the next few years. It will grow to $15.23 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth expected in the forecast period can be linked to advancements in stem cell research for retinal regeneration, personalized medicine approaches, increased investment in orphan drug development, and the expansion of telemedicine services. Major trends anticipated in the forecast period include a shift towards combination therapies, an increase in patient-centric clinical trial designs, the adoption of value-based pricing models, and the integration of digital therapeutics.
The rise in healthcare expenditure is anticipated to drive the growth of the retinitis pigmentosa market in the coming years. Healthcare expenditure encompasses the total spending on healthcare goods and services, including medical treatments, medications, hospitalizations, and preventive care, over a specific period. This expenditure reflects the overall cost of providing healthcare within a population. The increase in healthcare expenditure is attributed to the rising costs of advanced medical technologies, an aging population, and the prevalence of chronic diseases. For retinitis pigmentosa, healthcare spending is directed towards improving diagnostic methods, developing effective treatments, and offering supportive care to manage vision loss. For example, according to the National Institutes of Health, healthcare expenditure in the US grew by 4.1% in 2022, reaching $4.5 trillion, a faster growth rate compared to the 3.2% increase in 2021. Thus, the growth in healthcare expenditure is fueling the expansion of the retinitis pigmentosa market.
Leading companies in the retinitis pigmentosa market are increasingly focusing on developing innovative treatments, such as gene therapy, to provide more effective and targeted solutions for managing and potentially curing this debilitating condition. Gene therapy for retinitis pigmentosa (RP) involves delivering functional genes to replace or repair the defective ones causing the disease. This cutting-edge treatment aims to restore normal function to the affected photoreceptor cells in the retina, thereby slowing or potentially halting the progression of vision loss. For instance, in April 2024, ViGeneron GmbH, a biotechnology company based in Germany, initiated a Phase Ib clinical trial to evaluate the safety, tolerability, and efficacy of VG901, a gene therapy designed to treat RP caused by mutations in the CNGA1 gene. This trial is an open-label, single-arm, dose-escalation study investigating the intravitreal injection of VG901 in patients with autosomal recessive RP due to biallelic CNGA1 mutations.
In December 2023, Thea Pharma Inc., a pharmaceutical company based in France, acquired two antisense oligonucleotide (AON) treatments, Sepofarsen (LCA10) and Ultevursen (USH2A), from ProQR Therapeutics NV for an undisclosed amount. This acquisition aligns with Thea's focus on rare genetic eye diseases and ophthalmology. ProQR Therapeutics NV, a biotechnology company based in the Netherlands, specializes in developing treatments for retinitis pigmentosa.
Major companies operating in the retinitis pigmentosa market are Johnson & Johnson, Novartis AG, AbbVie Inc., Astellas Pharma Inc., Biogen Inc., Sun Pharmaceutical Industries Ltd, Spark Therapeutics, REGENXBIO Inc., Editas Medicine, IVERIC bio, MeiraGTx Holdings, Gensight Biologics, Second Sight Medical Products, Copernicus Therapeutics Inc., Kiora Pharmaceuticals, 4D Molecular Therapeutics, ReNeuron Group, Acucela Inc., AGTC (Applied Genetic Technologies Corporation), Editgene
North America was the largest region in the retinitis pigmentosa market in 2023. The regions covered in the retinitis pigmentosa market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retinitis pigmentosa market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retinitis pigmentosa market consists of revenues earned by entities by providing services such as genetic counseling, low vision therapy, psychological support, and educational support. The market value includes the value of related goods sold by the service provider or included within the service offering. The retinitis pigmentosa market also includes sales of retinal implants, screen readers, telescopic glasses, and adaptive lighting. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retinitis Pigmentosa Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retinitis pigmentosa market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retinitis pigmentosa ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retinitis pigmentosa market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.