Oculopharyngeal Muscular Dystrophy (OPMD) Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of Oculopharyngeal Muscular Dystrophy (OPMD) Market was valued at 3.9 billion in 2022, and a CAGR of 14.1% is expected during the forecast period. The rising prevalence of obesity and diabetes is driving growth in the market significantly. and thus muscular diseases all over the world are driving growth in the market. It results in poor vision and further difficulty swallowing something. With the increasing prevalence of eye disorders and the global aging population, the increasing number of cases of glaucoma is driving significant growth in the market.

Innovations in tonometry devices, the development of tonometers, and increasing emphasis on improving efficacy, ease of use, and patient comfort are driving growth in the market. OPMD is primarily focused on the development and distribution of preservative solutions used in ophthalmic medications and their treatment. This market is crucial to ensuring the safety and effectiveness of eye drops and other related products. Rising healthcare expenditure and increasing health awareness among people are driving growth in the market.

Growth Drivers

Increasing awareness about eye health and the availability of screening programs, which contribute to early diagnosis and treatment of eye disease, is driving the demand for tonometry devices. Rising healthcare expenditure globally allows for greater investment in advanced diagnostic equipment, including ophthalmic tonometers, which is driving significant growth in the market. The development of non-contact and portable tonometers to improve accuracy, ease of use, and patient comfort is expanding market adoption. Integration of tonometry devices with telemedicine platforms facilitates remote monitoring and diagnosis. With changes in lifestyle, the number of glaucoma patients is increasing rapidly.

The increasing number of diabetes patients all over the world is significantly increasing the growth of this market. The expanding geriatric population and increasing demand for the expansion of new therapies are driving growth in the market. Increasing prevalence of eye diseases, along with technological advancements, improved awareness, and early diagnosis of eye diseases, increase the demand for ophthalmic treatments, expansion of emerging markets, and stringent regulatory support. Growing healthcare infrastructure and increasing disposable income in emerging markets are driving demand in the market.

Segmentation

Type

·         Symptomatic

·         Disease-Modifying

Distribution Channels

·         Hospital Pharmacies

·         Retail Pharmacies

·         Online Pharmacies

End-Users

·         Hospitals

·         Diagnostic Centers

·         Clinics

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

OPMD Market by Type Segmentation

On the basis of type, the Oculopharyngeal Muscular Dystrophy (OPMD) market is segmented into symptomatic and disease-modifying. Disease-modifying treatment is the leading segment and is expected to dominate the market during the forecast period because there is no cure for OPMD, which underscores the urgent need for disease-modifying therapies. Patients and healthcare providers are actively seeking treatments that slow down or halt the disease's progression. It aims to address the underlying cause of OPMD, such as genetic mutations or protein aggregation, rather than just managing symptoms. Pharmaceutical companies and research institutions are increasingly investing in developing disease-modifying therapies for OPMD.

OPMD Market End-User Segmentation

On the basis of the end-user, the Oculopharyngeal Muscular Dystrophy (OPMD) market is segmented into 3 types: hospitals, diagnostic centers, and clinics. Hospitals are the leading segment due to their well-equipped infrastructure, rising healthcare expenditure, and post-operative care. Hospitals generally have the infrastructure and facilities to support the use of complex medical devices, including OPMDs. It includes specialized diagnostics and surgical equipment, which OPMDs often complement or integrate with. Hospitals typically have a large volume of patients’s visits for various eye-related conditions. Hospitals employ opthalmologists and other eye-care specialists who are trained to use OPMDs effectively.

There is an increasing emphasis on precise diagnostic tools to assess and treat a wide range of eye disorders, making OPMDs crucial in their clinical workflows. Hospitals typically adhere to strict regulatory standards for medical devices, ensuring that OPMDs used within their facilities meet safety and efficacy requirements. Rising healthcare expenditures and the increasing number of glaucoma patients all over the world are driving significant growth in the market. Increasing demand for opthalmologists in eye-care centers is the need of the hour. Diagnostic centers and clinics are also just second to hospitals. 1/1,000 people are suffering from this disease, and not every person suffering from this disease can be treated in hospitals, so they tend towards diagnostic centers and clinics. Rising healthcare expenditures are driving growth in the market significantly. The increasing number of glaucoma patients worldwide is driving growth in this market.

Regional Outlook

On the basis of the regions, the Oculopharyngeal Muscular Dystrophy (OPMD) market is segmented into 5 parts: Asia Pacific, North America, Latin America, the Middle East and Africa, and Europe. North America is the leading segment and is expected to drive growth in the market during the forecast period. Rising health awareness among North American people is driving growth in the market. Increasing disposable income and rising healthcare expenditures are driving significant growth in the market. Increasing awareness among people about the diseases is driving growth in the United States of America and Canada. The presence of key players in the region is another factor that is inspiring significant growth in the market.

In the Asia-Pacific region, the market is witnessing significant growth due to the rapidly increasing population and increasing disposable income in emerging economies like Japan, South Korea, India, and China. Increasing industrialization in these countries and rising healthcare expenditures in the region are driving growth in the market. The increasing number of older adults in the region who are experiencing more chronic pain is driving growth in the market significantly.

European markets, including the United Kingdom, Spain, France, Italy, Germany, and Denmark, are also witnessing significant growth in the market due to rising healthcare expenditure and increasing health awareness. The rising number of diabetes patients all over the world is driving significant growth in the market. Increasing disposable income is driving growth in the market, and increasing health awareness among the people is the main cause behind the significant growth in the market. Well-established eye hospitals in the region are the main reason behind the significant growth in the market.

Key Players

·         BioMarin

·         Sarepta Therapeutics

·         Benitec Biopharma Inc

·         Bioblast Pharma

·         Nobel Pharma Co. Ltd.

·         Pfizer Inc.

·         Fibrinogen

·         GSK

·         Santhera Pharmaceuticals

·         PTC Therapeutics

·         Other Players