What Has Been the Progress and Growth of the Retinoblastoma Treatment Market in Recent Years?
The retinoblastoma treatment market has seen considerable growth due to a variety of factors.
• The retinoblastoma treatment market has seen strong growth in recent years. It will rise from $2.03 billion in 2024 to $2.16 billion in 2025, at a compound annual growth rate (CAGR) of 6.2%.
The growth is attributed to increased funding, the risk of retinoblastoma recurrence, early diagnosis and treatment, growing awareness of different cancer types, and significant growth in cancer research.
What Can Be Expected from the Retinoblastoma Treatment Market Size?
The retinoblastoma treatment market is expected to maintain its strong growth trajectory in upcoming years.
• The retinoblastoma treatment market is set to grow to $2.7 billion by 2029, with a CAGR of 5.8%.
This growth is driven by rising demand for ophthalmic treatments, an increasing incidence of retinoblastoma, more research and development, heightened awareness, and higher healthcare expenditure. Trends include advances in medical technology, better diagnostic tools, more pediatric oncology investments, new product approvals, and improved medical infrastructure.
What Are the Critical Driver Fuelling The Retinoblastoma Treatment Market's Growth?
The surge in ophthalmic treatments and surgeries, as a consequence of mounting demand, is forecasted to thrust the retinoblastoma treatment market's growth forward. Ophthalmic treatments and surgeries involve a range of medical processes and interventions intended to identify, handle, and rectify disorders and conditions impairing the visual system and eyes. Contributory factors to the rise in ophthalmic treatments and surgeries include a progressively aging population, an elevated incidence of issues like cataracts and age-related macular degeneration, technological innovations leading to more efficient and readily available treatments, and an escalating consciousness resulting in early detection and action. Retinoblastoma treatments are essential in ophthalmic surgeries for tackling cancerous growths in the eyes, prevention of metastasis or reappearance, and preserving vision and eye functionality. For instance, a report from the Office for Health Improvement and Disparities, a government outfit based in UK, revealed that in September 2023, cataract surgery admissions in England was over 4.09 million, which corresponds to a rate of 3,803 (3,789 to 3,816) for every 100,000 individuals in the fiscal year ending in 2022. Likewise, the admissions for rhegmatogenous retinal detachment surgeries exceeded 10,900, and intravitreal injection therapy procedures crossed over 677,000 in the same time frame, with rates of 23.4 (22.9 to 24.0) and 4,796 (4,769 to 4,823) per 100,000 individuals, correspondingly. Therefore, the booming demand for ophthalmic treatments and surgeries is the primary driver behind the exponential growth of the retinoblastoma treatment market.
How Is The Retinoblastoma Treatment Market segmented?
The retinoblastoma treatment market covered in this report is segmented –
1) By Type: Non-Hereditary Retinoblastoma, Hereditary Retinoblastoma
2) By Treatment Type: Surgery, Radiation Therapy, Laser Therapy (Photocoagulation), Cryotherapy, Thermotherapy, Chemotherapy, Ophthalmic Artery Infusion Chemotherapy, High-Dose Chemotherapy And Stem Cell Transplant
3) By Disease Stage: Intraocular Retinoblastoma, Extraocular Retinoblastoma
4) By Application: Hospitals, Cancer Institutes, Other Applications
Subsegments:
1) By Non-Hereditary Retinoblastoma: Unilateral Non-Hereditary Retinoblastoma, Bilateral Non-Hereditary Retinoblastoma
2) By Hereditary Retinoblastoma: Bilateral Hereditary Retinoblastoma, Unilateral Hereditary Retinoblastoma
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What Trends Are Reshaping The Future Of The Retinoblastoma Treatment Market?
Major companies in the retinoblastoma treatment market are striving to offer innovative solutions such as oncolytic adenoviruses, which are genetically modified viruses designed to selectively target and eliminate cancer cells without harming normal cells. An example of this is the Spain-based biotech company, VCN Biosciences, which gained orphan drug authorization from the U.S. Food and Drug Administration for its genetically engineered oncolytic adenovirus, VCN-01, for retinoblastoma treatment in February 2022. What sets VCN-01 apart is its intrinsic oncolytic adenovirus property, which is currently being studied in clinical trials focusing on hitherto incurable cancers such as pancreatic carcinoma and retinoblastoma (RB). VCN-01, having been rigorously evaluated in four phase 1 clinical trials, is now being considered as an independent treatment option for RB patients who did not respond well to former chemotherapy treatments. Intriguingly, the use of VCN-01 through intravitreal administration has resulted in full remission and tumor reduction in numerous patients, providing the basis for its accepted orphan drug designation.
Who Are the Key Players In The Retinoblastoma Treatment Market?
Major companies operating in the retinoblastoma treatment market are:
• Johnson & Johnson Services Inc.
• F. Hoffmann-La Roche AG
• Merck & Co. Inc.
• Sanofi S.A.
• Bristol-Myers Squibb Company
• Novartis AG
• Pfizer Inc.
• GlaxoSmithKline Plc
• Takeda Pharmaceutical Company Limited
• Eli Lilly and Company
• Teva Pharmaceutical Industries Ltd.
• Baxter International Inc.
• Regeneron Pharmaceuticals Inc.
• Astellas Pharma Inc.
• Otsuka Pharmaceutical
• Daiichi Sankyo Company
• Taiho Pharmaceutical Co. Ltd.
• Icon Bioscience Inc.
• Ono Pharmaceutical Co. Ltd.
• Nippon Shinyaku Co. Ltd.
• Cadila Pharmaceuticals
• Arcus Biosciences Inc.
• Sheba Medical Center
• Cellceutix Corporation
• Phio Pharmaceuticals Inc.
What Is The Most Dominant Region In The Retinoblastoma Treatment Market?
North America was the largest region in the retinoblastoma treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retinoblastoma treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
