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Night Blindness Treatment Market Size, Growth Analysis, Share, Leading Key Players, Trends, And Forecast To 2033
Night Blindness Treatment Market Size
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According to The Business Research Company's, The night blindness treatment market size has grown strongly in recent years. It will grow from $3.72 billion in 2023 to $3.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to rising prevalence of vitamin A deficiency, growth in the geriatric population prone to night vision problems, expansion of healthcare infrastructure, increasing focus on nutritional interventions for vision health, rising incidence of retinitis pigmentosa.
The night blindness treatment market size is expected to see strong growth in the next few years. It will grow to $5.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing adoption of advanced diagnostic technologies, increasing awareness campaigns about eye health, rising demand for personalized medicine, growth in the number of eye care clinics and facilities, growth in healthcare infrastructure development. Major trends in the forecast period include adoption of advanced diagnostic technologies, implementation of personalized treatment, development of gene therapy and stem cell treatments, integration of wearable technology for real time monitoring, development of multi-disciplinary clinics.
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Market Drivers and Trends:
The increasing prevalence of cataracts is expected to propel the growth of the night blindness treatment market going forward. Cataracts refer to a condition where the eye's lens becomes cloudy, leading to impaired vision. The increased exposure to ultraviolet (UV) light from the sun, smoking, and poor diet contribute to the development of cataracts. Cataracts reduce the eye's ability to distinguish between different shades of light and dark, which is crucial for night vision. This decreased contrast sensitivity makes navigating and recognizing objects in low-light environments harder. For instance, in July 2023, according to the 2021-23 National UK Eye Care Statistics Survey conducted by the Well-being of Future Generations Act (WFG), a UK-based government agency, there were an estimated 16,500 (16,510) cataract admissions in 2022-23, an increase of 23.7% from the previous year. Therefore, the increasing prevalence of cataracts is driving the night blindness treatment market.
Major companies operating in the night blindness treatment market are developing innovative genetic therapies to address the underlying genetic mutations responsible for enhancing treatment efficacy for improved patient outcomes. Genetic therapies help in treating night blindness by targeting and repairing specific genetic mutations that affect retinal function, potentially restoring vision in individuals with inherited retinal disorders such as retinitis pigmentosa. For instance, in August 2023, HuidaGene Therapeutics., a US-based clinical-stage biotechnology company, introduced HG004, a gene therapy designed to treat inherited retinal diseases such as Leber's congenital amaurosis. This therapy has shown superiority over existing treatments in preclinical studies, aiming to restore retinal function and alleviate night blindness and other conditions associated with RPE65-induced impairments.
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Major Key Players of the Market:
Johnson & Johnson Private Limited, F. Hoffmann-La Roche Ltd., Bayer AG, Abbott Laboratories, Novartis AG, Boehringer Ingelheim, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen Inc., Bausch Health Companies Inc., Eisai Co. Ltd, Cipla Inc., Nature's Way, Spark Therapeutics Inc., Garden of Life, Apellis Pharmaceuticals Inc, Solgar, Acucela Inc., Swanson Health Products, NOW Foods
Night Blindness Treatment Market 2024 Key Insights:
• The night blindness treatment market size is expected to see strong growth in the next few years. It will grow to $5.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Impact Of Increasing Cataract Prevalence On The Night Blindness Treatment Market
• Innovative Genetic Therapies Revolutionizing Night Blindness Treatment Market
• North America was the largest region in the night blindness treatment market in 2023
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