Market Challenges And Opportunities

Global Posterior Segment Eye Disorders Market Drivers:

Increase in burden of posterior segment eye disorders to propel market growth

One of the key factors expected to augment growth of the global posterior segment eye disorders market over the forecast period is the increase in burden of posterior segment eye disorders across the world. Posterior segment eye disease (PSED) is defined as diseases of retina, choroid and optic nerve and includes glaucoma, age-related macular degeneration, and diabetic retinopathy. As per the American Academy of Ophthalmology, glaucoma is the most common cause of preventable, irreversible blindness worldwide, while primary open-angle glaucoma (POAG) is responsible for 12.3% of blindness worldwide. This in turn is driving the market growth.

Growing geriatric population worldwide to underpin market growth

Another factor which is driving the growth of the global posterior segment eye disorders market is the increase in geriatric (aging) population across the globe. The most common causes of vision loss among the elderly are age-related macular degeneration, glaucoma, diabetic retinopathy, and cataract. Vision loss among the elderly is a major health care problem. According to the American Academy of Family Physicians, around one person in three has some form of vision-reducing eye disease by the age of 65. Thus, with the growing geriatric population, the incidence of posterior segment eye disorders is also increasing rapidly.

Global Posterior Segment Eye Disorders Market Opportunities:

Increase in demand for safe and effective treatment worldwide is expected to provide significant growth opportunities for players in the global posterior segment eye disorders market. For instance, with the rise in burden of posterior segment eye disorders and increase in awareness among people, demand for for safe and effective treatment has also increased worldwide. In June 2022, Amring Pharmaceuticals Inc. (Amring) received the U.S. Food and Drug Administration (FDA) approval for generic Timolol Maleate Ophthalmic Solution, USP 0.5%, 60 pack of 0.3 mL unit dose vials (AT3 rated generic equivalent of Timoptic in Ocudose).

Increase in focus on the development of new therapeutics is expected to provide lucrative growth opportunities for players in the global posterior segment eye disorder market. For instance, players in the market are focusing on launching and developing novel therapeutics in the market to meet increase in demand worldwide. In August 2021, Zilia announced the closing of US$ 4 million seed funding round led by Anges Québec. This would help the company\'s entry into ocular diagnostics by increasing the number of diagnoses for posterior segment eye disorders. This in turn is expected to aid in the global posterior segment eye disorders market growth.

Global Posterior Segment Eye Disorders Market Restraints:

Stringent rules and regulations to hinder growth of the market

One of the key factors expected to hamper the growth of the global posterior segment eye disorders market is the stringent regulatory framework/policies. Regulatory authorities, such as the US FDA and EMA, regulate the posterior segment eye disorder market to ensure access to safe, appropriate, and affordable diagnostics and therapeutics products. Moreover, most eye disorder drugs available without prescription are assessed and authorized at the national level, which in turn leads to delay in product launches and sometimes, product recalls.

Lack of primary infrastructure to hamper growth of the market

Another factor which is hampering the growth of the global posterior segment eye disorders market is the lack of primary infrastructure for eye diseases in developing and underdeveloped countries. The population in both developing and underdeveloped countries is increasing rapidly and hence the burden of diseases is increasing, which affects the medical/healthcare system in these regions due to lack of proper health care infrastructure for eye related diseases. However, infrastructure is now being developed in developing and underdeveloped countries.