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Global Retinal Biologics Market Size was valued at USD 6.7 Billion in 2022. The Retinal Biologics market Drug Class is projected to grow from USD 7.8 Billion in 2023 to USD 19.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 13.40% during the forecast period (2023 - 2032). Age-related macular degeneration (AMD) and retinal vein occlusion (RVO) are both on the rise, and there are more cases of ophthalmic illnesses causing chronic retinal diseases globally, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The primary factor driving the market's growth is the global increase in ocular conditions that result in chronic retinal disorders. According to the World Health Organization, about 2.2 billion people worldwide suffer from eyesight problems. The sizeable patient population with eye issues is what drives market expansion. Retinal vein occlusion (RVO) and age-related macular degeneration (AMD) are both becoming more prevalent. The second most common retinal vascular disorder, RVO is a significant cause of visual loss. 11 million Americans are affected by age-related macular degeneration in some way. This number is anticipated to increase to over 22 million by 2050. Increasing R&D efforts and new product launches will help the market growth for retinal biologics over the forecasted period.
The market will be driven by a strong focus on research and development (R&D) connected to retinal gene treatments conducted by various institutes, biologics firms, and innovative product releases by key industry participants in the form of biologics and implants. If attempts are made to offer supplemental therapeutic therapies, the market will expand more quickly. As more people with type I and type II adult diabetes suffer from vision loss as a result of their condition, concern over diabetic retinopathy has grown. Diabetic macular edema is a side effect of diabetic retinopathy, which makes the macula swell. The increased incidence of other retinal diseases such uveitis and orbital inflammation is another reason fueling demand for retinal medications and biologics. In retinal gene therapy, defective genes that were passed down through the family are treated using DNA or RNA. Retinal gene therapy is regarded as a crucial tactic since there is less contamination and the viral vector can easily fit into the eyes.
This market will grow as a result of age-related macular degeneration (AMD) and other conditions linked to an aging population. Approximately 15 million Americans have AMD, according to research by the American Academy of Ophthalmology. The disorder may cause a decrease of central visual acuity in one or both eyes in some people, especially the elderly. The senior population is more at danger since AMD illness progresses with age. In addition, a variety of diseases, such as hypertension and hypercholesterolemia, are made more likely by increased alcohol and tobacco use, which is advantageous for the retinal biologics industry. Strategic relationships between market players and large R&D investments will be beneficial for the development of retinal biologics. Diabetes contributes to two of the most common retinal diseases, diabetic retinopathy and diabetic macula edema, so it will also have an effect on the development of the retinal biologics industry. Thus, driving the Retinal Biologics market revenue.
The global Retinal Biologics market segmentation, based on Drug Class, includes TNF-a inhibitor and VEGF-A antagonist. VEGF-A antagonist segment dominated the global market in 2022. With the help of neovascularization, this biologic is utilized to cure age-related macular degeneration. Businesses are focusing on developing and releasing VEGF to treat eye problems. For instance, F. Hoffmann-La Roche Ltd.'s Lucentis (ranibizumab injectable) for the treatment of diabetic retinopathy received US FDA approval in March 2018. The launch of innovative medicines and an increase in product approvals are driving the segmented retinal biologics market's growth.
The global Retinal Biologics market segmentation, based on Indication, includes macular degeneration, diabetic retinopathy, uveitis, and others. Macular degeneration segment dominated the global market in 2022. The rapidly increasing number of diabetics is one of the major factors contributing to the global incidence of DR. According to the International Diabetes Federation (IDF), 783 million persons will have diabetes by 2045. Since DR is one of the most common causes of vision loss in people with diabetes, this could increase the risk of DR. It is projected that these factors will speed up the market growth of retinal biologics.
The global Retinal Biologics market segmentation, based on Distribution Channel, includes hospitals and clinics, pharmacies, and others. Hospitals and clinics segment dominated the global Retinal Biologics market in 2022. Modern therapies that can considerably increase a patient's surgical success are readily available in hospitals. Many major hospital networks have made retinal biologic treatments available to successfully treat a variety of eye problems. An example is the Max Institute Eye Care (MIEC), a state-of-the-art eye care facility that was established by the Max Hospital in South Delhi, India, to offer state-of-the-art technologies and treatments for a variety of eye disorders. Due to these developments, more patients are visiting hospitals for routine eye exams, improving the market outlook.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Retinal Biologics Market dominated this market in 2022 (45.80%). One of the recurring problems for the US and other countries is eye diseases. America accounted for the largest market because of the rising rates of macular degeneration, diabetic retinopathy, uveitis, and other eye illnesses. Currently, macular degeneration affects roughly 196 million people worldwide, and by 2040, that figure is expected to increase to 288 million. As there are more and more new cases of eye diseases, there is a growing demand in this area for retinal biologics products. Further, In the North American area, the U.S. Retinal Biologics market had the biggest market share, while the Canada Retinal Biologics market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Retinal Biologics market accounted for the healthy market share in 2022. The rise of the European market is facilitated by rising healthcare innovation, increased focus on developing novel retinal biologics, and the existence of various healthcare businesses in this region. Nearly 22 million people had age-related macular degeneration (AMD) in the European Union (EU) and its five most populous countries—Germany, France, the United Kingdom, Italy, and Spain—as of 2017. Further, In the European region, the German Retinal Biologics market had the biggest market share, and the U.K. Retinal Biologics market had the quickest rate of growth.
The Asia Pacific Retinal Biologics market is expected to register significant growth from 2023 to 2032. This area has seen a rise in market growth as a result of increased research into the development of retinal biologics and the rising prevalence of eye diseases. The expanding older population also supports the demand for retinal biologics. Moreover, In the Asia-Pacific region, the Indian Retinal Biologics market had the quickest rate of growth while China's Retinal Biologics market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Retinal Biologics market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Retinal Biologics sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Retinal Biologics industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Retinal Biologics sector. Major players in the Retinal Biologics market, including Amgen, Inc., AbbVie Inc., MeiraGTX Limited, Regeneron Pharmaceuticals Inc, Ocular Therapeutixc., Spark Therapeutics, F. Hoffmann-La, Roche Ltd., Genentech, and Johnson & Johnson, are attempting to increase market demand by investing in research and development operations.
F. Hoffmann-La Roche Ltd. (Roche), a biotechnology company, develops drugs and diagnostic equipment to treat severe illnesses. It provides drugs for the treatment of cancer, different auto-immune diseases, neurological disorders, ophthalmological disorders, and issues with the central nervous system. Additionally, the company offers in vitro diagnostics, tissue-based cancer diagnostics, and diabetes management programs. Roche conducts research to identify cutting-edge approaches to sickness prevention, diagnosis, and treatment. The company offers its products and services to a variety of customers, including hospitals, medical professionals, researchers, and chemists. In 2021, Roche and SemaThera Inc. began a multi-year research and licensing agreement to expand SemaThera's portfolio of novel biologics for the treatment of ischemic retinal illnesses such diabetic retinopathy.
The creation, manufacture, and marketing of prescription and over-the-counter medications, as well as items for eye care, are the specialties of a healthcare company by the name of Novartis AG (Novartis). It provides medications for treating solid tumors, immune system problems, infections, cardiovascular disease, dermatological problems, neurological problems, ophthalmic and respiratory illnesses, cancer, and neurological abnormalities, among other conditions. The company sells biosimilars and generic drugs through Sandoz. Novartis conducts research in several disease-related sectors through the Novartis Institutes for BioMedical Research (NIBR). Novartis' supplemental biologic licence application (sBLA) for Beovu (brolucizumab) 6 mg for the treatment of diabetic macular edema (DME) was approved by the US Food and Drug Administration (FDA) in October 2021.
· Amgen, Inc.
· AbbVie Inc.
· MeiraGTX Limited
· Regeneron Pharmaceuticals Inc
· Ocular Therapeutixc.
· Spark Therapeutics
· F. Hoffmann-La Roche Ltd.
· Genentech
· Johnson & Johnson
July 2021: Faricimab's Biologics Licence Application (BLA) for the treatment of wet, or neovascular, age-related macular degeneration (AMD), diabetic macular edema (DME), and diabetic retinopathy has been authorized by the US Food and Drug Administration (FDA). A member of the Roche Group is Genentech.
· TNF-a Inhibitor
· VEGF-A Antagonist
· Macular Degeneration
· Diabetic Retinopathy
· Uveitis
· Others
· Hospitals and Clinics
· Pharmacies
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
Report Scope
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 6.7 Billion |
|
Market Size 2023 |
USD 7.8 Billion |
|
Market Size 2032 |
USD 19.6 Billion |
|
Compound Annual Growth Rate (CAGR) |
13.40% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Drug Class, Indication, Distribution Channel, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Amgen, Inc., AbbVie Inc., MeiraGTX Limited, Regeneron Pharmaceuticals Inc, Ocular Therapeutixc., Spark Therapeutics, F. Hoffmann-La, Roche Ltd., Genentech, and Johnson & Johnson |
|
Key Market Opportunities |
Technological advances and new product approvals |
|
Key Market Dynamics |
Growing number of cases with ophthalmic disorders causing chronic retinal diseases across the globe and increasing prevalence of retinal vein occlusion (RVO) and age-related macular degeneration |
The global Retinal Biologics Market was valued at USD 6.7 billion in 2022, and it is estimated to reach USD 19.6 billion by 2032.
The global market is projected to grow at a CAGR of 13.40% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Amgen, Inc., AbbVie Inc., MeiraGTX Limited, Regeneron Pharmaceuticals Inc, Ocular Therapeutixc., Spark Therapeutics, F. Hoffmann-La, Roche Ltd., Genentech, and Johnson & Johnson
The VEGF-A Antagonist Drug Class dominated the market in 2022.
The Macular Degeneration Indication had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65233
Published on :
Sep 2023
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