Gene therapy is an experimental technique that uses genes to treat or prevent disease. In ophthalmology, it involves delivering corrective genetic material directly to the eyes with the aim of providing long-lasting treatment or potential cures for inherited retinal diseases and other ophthalmic conditions.
The major goal of Gene Therapy in Ophthalmology Market is to address blinding diseases such as retinitis pigmentosa (RP), choroideremia, Leber's congenital amaurosis, and achromatopsia. Gene therapy holds potential to treat the underlying cause of vision loss by repairing or replacing faulty genes.
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 operating in the gene therapy in ophthalmology market are Spark Therapeutics, MeiraGTx, Oxford Biomedica and Adverum Biotechnologies. Spark Therapeutics' voretigene neparvovec-rzyl becomes the first gene therapy approved by the FDA for treatment of inherited retinal dystrophy due to mutations in the RPE65 gene. Growing prevalence of retinal diseases worldwide is serving as a high impact rendering driver for market growth. For instance, according to the Bright Focus Foundation, nearly 2 million people in the US suffer from retinal diseases. Technological advancements in gene therapy such as development of novel gene delivery vectors and targeted gene editing tools are aiding researchers in developing more effective gene therapy for various inherited eye disorders.
Market Trends
Collaboration between pharmaceutical companies and research institutes: Leading players are collaborating with research institutes to advance the development of pipeline candidates. For instance, MeiraGTx partnered with Janssen Pharmaceuticals to develop and commercialize various ocular gene therapies.
Focus on diversifying gene therapy portfolio: Major players are diversifying their product portfolios beyond RPE65-mediated blindness. Companies are conducting clinical trials for other orphan ocular conditions like achromatopsia and X-linked retinitis pigmentosa.
Market Opportunities
Emerging Economies: Expanding healthcare infrastructure and growing medical tourism in developing countries like India, China, Brazil presents an opportunity for gene therapy players to strengthen their regional presence.
Combination Therapies: Combining gene therapy with stem cell therapy, optical gene switching or optogenetics could offer synergistic outcomes for treating complex retinal disorders. This presents an opportunity for product differentiation.
How COVID-19 has impacted the Gene Therapy in Ophthalmology Market growth
The outbreak of COVID-19 pandemic negatively impacted the Gene Therapy in Ophthalmology market in the initial months. Government imposed lockdowns and travel restrictions disrupted the supply chain and halted clinical trials. Hospitals prioritized COVID patients over elective treatments like gene therapy, resulting in postponed procedures. However, online doctor consultations and remote patient monitoring helped maintain connections with existing patients.
As restrictions eased, the market is recovering steadily. Manufacturers are ensuring uninterrupted drug supplies while following safety protocols. They are integrating digital solutions to track patients virtually. Hospitals are now allowing elective treatments while taking necessary precautions. Upcoming clinical trial results would boost the market further. Researchers continue developing new gene therapies to widen treatment options. Overall, the long-term outlook remains positive as demand for vision-saving treatments is growing. While short-term impact was seen, focus on innovation and digitalization will help the market reach pre-COVID levels soon.
Value concentration in Europe and Asia Pacific regions
Europe holds the largest share in the global Gene Therapy in Ophthalmology market currently, owing to increasing incidence of eye diseases and availability of advanced treatments. Countries like UK, Germany, France have major pharmaceutical companies and ophthalmology centers conducting trials. Strong research funding and regulatory approvals are driving the regional market.
Asia Pacific is projected to be the fastest growing regional market over the forecast period. China, Japan and India have large patient population for diseases like retinal dystrophy. Rising healthcare spending, growing medical tourism and focus on new biologics development are factors aiding growth. Ophthalmology centers are adopting gene therapies while local pharma players are initiating trials. Favorable regulatory environment will further boost the APAC Gene Therapy in Ophthalmology market.
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