Retinopathy of Prematurity Market Size & Share, by Disease Type (Partial Retinal Detachment, Extra-Retinal Fibrovascular Proliferation, Total Retinal Detachment); End-User (Hospital, Clinic, Homecare) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5823
  • Published Date: Mar 05, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Retinopathy of Prematurity Market size is expected to reach USD 14 Million by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of retinopathy of prematurity was USD 9 Million. There has been a rise fir premature births which leads to abnormal development of retinal blood vessels due to an imbalance of certain growth factors in the eyes. According to the World Health Organization (WHO), an estimated 13.4 million babies were born too early in 2020.

In addition, the growing popularity and awareness of supportive care practices and efforts to build a conducive environment for preterm infants’ overall growth and organ maturation boost the market. Moreover, premature infants need careful monitoring, so regular health check-ups and vaccination of premature kids stimulate the retinopathy of the premature market.


Retinopathy of Prematurity Market
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Retinopathy of Prematurity Sector: Growth Drivers and Challenges

Growth Drivers

  • Rising Healthcare Expenditure- An increase in healthcare spending globally leads to better healthcare infrastructure and improved accessibility to retinopathy of prematurity treatments. According to recent reports, global spending on health reached a new high of USD 9.8 trillion in the year 2021. Furthermore, an increase in healthcare expenditure allows for greater funding in research and development initiatives focused on understanding retinopathy of prematurity, and the development of new treatment modalities that boost the market. In addition, investment in implementing policies that support neonatal healthcare focused on retinopathy of prematurity prevention and treatment boosts stimulate the market. The Every New Born Action Plan (ENAP) is a globally endorsed strategy for ending preventable newborn deaths.
  • Adoption of Telemedicine- The adoption of telemedicine in retinopathy of prematurity market involves the use of remote healthcare technologies to facilitate the diagnosis and monitoring of retinopathy of prematurity in premature infants. Furthermore, telemedicine platforms allow for transmission of digital retinal images and relevant patient data from remote locations to specialized healthcare professionals. This facilitates quick and accurate assessments, even if healthcare professionals are not physically present. Moreover, telemedicine increased the accessibility to retinopathy of prematurity expertise, particularly in regions with limited access to specialized neonatal care which stimulated the market.
  • Collaborations and Partnerships Among Healthcare Institutions and Research Organizations - Collaborative efforts between healthcare institutions, research organizations, pharmaceutical companies, and public-private partnership accelerates the development and accessibility of retinopathy of prematurity treatments as partnership provides access to shared resources, including funding, research facilities, specialized equipment, transfer of technology and capacity building initiatives such as training programs for healthcare professionals which stimulate the market. In addition, collaboration and partnership in the retinopathy of prematurity market play an important role in advancing research, improving clinical practices, and promoting global efforts to address the challenges associated with retinopathy of prematurity.

Challenges

  • Treatment Options and Availability- The development of effective and accessible treatment options for retinopathy of prematurity is an ongoing challenge. Limited therapeutic interventions, especially for the advanced stage of retinopathy of prematurity, impact the ability to provide optimal care.
  • Lack of awareness among parents about retinopathy of prematurity may result in delays in seeking medical attention for infants.
  • Another challenge in the market is the need for early detection and screening of preterm infants at risk.

Retinopathy of Prematurity Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

 ~ 5%

Base Year Market Size (2023)

~ USD 9 Million

Forecast Year Market Size (2036)

~ USD 14 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Retinopathy of Prematurity Segmentation

Disease Type (Partial Retinal Detachment, Extra-Retinal Fibrovascular Proliferation, Total Retinal Detachment)

The partial retinal detachment segment in the retinopathy of prematurity market is estimated to gain the largest revenue share of about 56% in the year 2036. The segment growth can be attributed to factors that rise in cases of partial retinal detachment may necessitate specialized surgical procedures for effective treatment. This could lead to growth in the market for surgical equipment and expertise related to retinopathy of prematurity management. In addition, the diagnosis of partial retinal detachment in retinopathy of prematurity often requires advanced imaging technologies expertise which leads to demand for diagnostic tools that further stimulate segment growth.

End-User (Hospital, Clinic, Home Care)

The hospital segment is estimated to gain the largest market share of about 54% in the year 2036. The segment growth can be attributed to education provided by hospitals to caregivers about retinopathy of prematurity, its risk factors, and the importance of regular eye examinations for premature infants. In addition, hospitals become central in providing various treatment modalities related to retinopathy of prematurity and employ skilled healthcare professionals to carry out the interventions that stimulate segment growth. According to the National Library of Medicine, the incidence of retinopathy of prematurity ranges from 17% in the public hospital to 30% in private hospitals. About 4% preterm babies require treatment for retinopathy of prematurity.

Our in-depth analysis of the global market includes the following segments:

          Disease Type

  • Partial Retinal Detachment
  • Extra-Retinal Fibrovascular Proliferation
  • Total Retinal Detachment

          End-User

  • Hospitals
  • Clinic
  • Home Care

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Retinopathy of Prematurity Industry-Regional Synopsis

North American Market Forecast

Retinopathy of prematurity market in North America region is anticipated to hold the largest share of about 41% by the end of 2036. The regional growth is attributed to ongoing advancements in medical technology, a focus on early detection and intervention, and a commitment to improving outcomes for premature infants at risk of developing retinopathy of prematurity. In addition, growing awareness among people regarding neonatal imaging is further expected to propel the growth of the regional market. Moreover, AI is highly being used for the diagnosis of retinopathy of prematurity in newborns. According to Pharmaceutical Technology, nearly 80% of infants treated with Eylea experienced an absence of active retinopathy of prematurity and unfavorable structural outcomes at 52 weeks of age in both trials. AI in healthcare has effectively diagnosed a blindness-causing disease in premature newborns which led to growth in the market.

European Market Analysis

The Europe market is estimated to be the second largest, registering a share of about 35% by the end of 2036. The market’s expansion can be attributed to the patient-centric approach in which the shift towards patient-centric healthcare models such as gathering feedback from patient’s families allows healthcare providers to continuously improve services, adopt better strategies, and emphasize personalized treatment plans contributing to the growth of retinopathy of prematurity market in Europe. Moreover, healthcare providers in Europe aim to create personalized treatment plans based on the specific needs of each premature infant diagnosed with retinopathy of prematurity which further stimulates the market. In addition, efforts to standardize treatment protocols and guidelines for retinopathy of prematurity management ensure consistency in healthcare practices, driving market growth in the region through streamlined approaches.

Research Nester
Retinopathy of Prematurity Market Size
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Companies Dominating the Retinopathy of Prematurity Landscape

top-features-companies
    • Visunex Medical System
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Merge Healthcare
    • Natus Medical Incorporated
    • Servicom Medical
    • Advancing Eyecare
    • Insmed Inc
    • Alimera Sciences Inc.
    • Biomar Microbial Technologies
    • Regeneron Pharmaceuticals
    • Hoffmann-La-Rochelnc

In-the-news

In The News

  • January 2023: Natus Medical Incorporated, a leading provider of medical device solutions announced the closing of its acquisition of micromed holding SAS, a global provider of neurophysiology solution. Micromed products will be added to Natus neuro portfolio and developed alongside Natus technologies. The newly merged organization brings together innovative neurodiagnostic solutions and experienced team to offer a broader portfolio of products, services and support to customer worldwide. In addition, The Natus legacy of over 85 years of neurodiagnostic leadership will grow through the addition of the complete line of micromed solutions to comprise an even stronger portfolio of products across polysomnography and intensive care unit monitoring. 
  • November 2022: Advancing Eyecare, North America leading provider of ophthalmic instruments, announced that acquisition of Veatch Ophthalmic Instruments which is a leading U.S. distributor of ophthalmic equipment. Veatch has more than 30 years history of distributing ophthalmic technology to vision care providers throughout the US. Veatch and Advancing Eyecare, with a shared commitment to best-in-class customer support will expand product and services offering to their combined customers and capitalize on synergistic growth opportunities. In addition, AEC partnered with Cornell Capital, a US based private firm to drive growth, expand the company’s reach and further enhances AEC’s ability to provide high quality , innovative products and services to a growing customer base.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5823
  • Published Date: Mar 05, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising expenditure on healthcare, adoption of telemedicine and collaborations & partnerships among healthcare institutions and research organizations are the major factors driving the growth of the retinopathy of prematurity market.

The market size of retinopathy of prematurity is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Merge Healthcare, Insmed Inc, Advancing Eyecare, Natus Medical Incorporated and others.

The Partial Retinal Detachment segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Retinopathy of Prematurity Market Report Scope
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