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Global Retinal Drugs Market Size was valued at USD 5.7 Billion in 2022. The Retinal Drugs market industry is projected to grow from USD 5.9 Billion in 2023 to USD 9.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2023 - 2032). Globally, the incidence of diabetes is rising, the prevalence of retinal diseases is rising, and the elderly population is rapidly expanding, these are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
One important driver of market growth is the rise in retinal diseases. Wet AMD, diabetic retinopathy, DME, RVO, and mCNV are among the retinal diseases that are becoming more common in both developed and developing countries. AMD is the primary cause of visual impairment in developed countries and is the third-leading cause of visual impairment globally. Around the world, 202,200 million people are expected to experience AMD. About nine out of every ten cases of substantial vision loss related to AMD are caused by wet AMD. Each year, around 500,000 individuals worldwide are given a brand-new diagnosis with wet AMD.
The rise in risk factors is related to the increase in retinal illnesses in prevalence. Adults over 50 are frequently affected by RVO, and the risk increases with advancing age. The risk of advanced AMD increases with age, rising from 2% in those 50 to 59 to over 30% in people over 75. Globally, the senior population is growing quickly as a result of longer average life expectancy. By 2025, estimates show that there will be 810 million people worldwide who are 65 or older. As diabetes is becoming more common worldwide, so too are diabetic retinopathy, DME, and related complications. These factors will therefore increase demand for retinal drugs during the forecast period, promoting market expansion.
The increase in demand for sustained-release ocular formulations is a recent trend on the market. Despite the fact that anti-VEGF drugs are helpful for many people, the route of administration and length of therapy remain obstacles to therapy. Sustained-release ocular formulations can improve upon many of the current delivery systems by reducing the frequency of dosing, eliminating the need for patients to provide their own medications, and navigating around the physical barriers of the ocular tissues. Ozurdex is a well-known biological intravitreal sustained DDS that can provide dexamethasone over several months, significantly enhancing visual acuity.
There is a steadily increasing need for new sustained-release ocular DDS due to the rising prevalence of serious eye diseases, the increased R&D to find new ways to deliver therapeutics, including small and large molecules, and the growing desire to lessen the frequency burden of repeated intravitreal injections. Another area of focus for several vendors is the creation of sustained-release formulations for the treatment of various retinal disorders. The rising demand for sustained-release ocular formulations is therefore predicted to drive market expansion globally throughout the forecast period. Thus, driving the Retinal Drugs market revenue.
The global Retinal Drugs market segmentation, based on Indication, includes macular degeneration, diabetic eye disease, and others. In 2022, the market share that belonged to macular degeneration was largest. This is because big market players are growing more interested in the condition, macular degeneration is becoming more widespread, and regulatory support is increasing. For instance, in September 2021, the American Food and Drug Administration (US FDA) approved Byooviz, a biosimilar to Lucentis developed by Biogen Inc. and Samsung Bioepis Co., Ltd., for the treatment of neovascular age-related macular degeneration (AMD). Two Korean businesses, Chong Kun Dang and Samsung Bioepis, want to launch a biosimilar version of Lucentis in December 2022 for the treatment of age-related macular degeneration.
The global Retinal Drugs market segmentation, based on the Distribution Channel, includes hospital pharmacies, retail pharmacy, and online pharmacy. In 2022, the industry of hospital pharmacy dominated the world market for retinal medications. Hospitals sell drugs and other pharmaceutical-related goods from numerous pharmaceutical corporations in hospital pharmacies. Both inpatients and outpatients are treated using these products. Hospital pharmacy may stock therapeutic and critical care drugs. Retinal diseases can be treated with these medications. The primary responsibility of hospital pharmacists is to purchase, store, and provide medications to patients. Patients receive hospital drugs during the course of hospital-assisted therapy.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
By region, 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 Drugs Market dominated the global market in 2022 with a 45.90% share. This may be attributed to factors such as an aging population, an abundance of new goods, and greater public knowledge of eye disorders. 11 million Americans have AMD in 2019, and by 2050, the BrightFocus Foundation projects that number to rise. The condition is spreading, thus there is a greater demand for effective treatments that will enable big businesses to offer cutting-edge drugs. Further, In the North American area, the U.S. Retinal Drugs market had the biggest market share, while the Canada Retinal Drugs 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
The second-largest market share for retinal drugs is held by Europe. Hospitals' power and influence will increase when they gain majority ownerships in medical practices. More hospitals are being combined into larger healthcare systems, which may also include payors, specialist services, outpatient clinics, long-term care facilities, and physician offices. As a result of these variables, it is expected that the category will develop during the course of the projected period. Further, In the European region, the German Retinal Drugs market had the biggest market share, and the U.K. Retinal Drugs market had the quickest rate of growth.
The Asia Pacific Retinal Drugs market is expected to register fastest CAGR from 2023 to 2032, because early diagnosis and treatment are more widely known and because there are effective and efficient treatment alternatives, more disposable income, and those factors. For instance, as of 2021, 12.5 million of India's 74 million diabetics had some kind of diabetic retinopathy. As a result, the presence of a sizable population of target patients presents prospects for the area. Moreover, In the Asia-Pacific region, the Indian Retinal Drugs market had the quickest rate of growth while China's Retinal Drugs 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 Drugs 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 Drugs 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 Aerospace Foam 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 Drugs sector. Major players in the Retinal Drugs market, including Bayer AG, Alcon Inc., Alimera Sciences Inc., Bausch Health Co Inc., Bristol Myers Squibb Co., F. Hoffmann La Roche Ltd., Kubota Corp., MeiraGTx Holdings Plc, Novartis AG, Ocular Therapeutix Inc., Oxurion NV, Pfizer Inc., Regeneron Pharmaceuticals Inc., REGENXBIO Inc, and Sanofi SA, are attempting to increase market demand by investing in research and development operations.
A biotechnology business called Roche creates medicines and diagnostic tools to treat serious ailments. It offers medications to treat conditions like cancer, other auto-immune diseases, neurological disorders, ophthalmological abnormalities, and central nervous system problems. The business also provides diabetes management systems, tissue-based cancer diagnostics, and in vitro diagnostics. Roche carries out research to find innovative methods for disease prevention, diagnosis, and treatment. The company sells its goods and services to a variety of businesses, including hospitals, medical experts, commercial laboratories, researchers, and pharmacies. The business operates abroad along with its associates and partners. The corporate headquarters of Roche are located in Basel, Switzerland. The FDA authorized Roche's Vabysmo in January 2022 as a treatment for wet age-related macular degeneration, an eye condition that raises the risk of blindness in older adults.
Ocuphire Pharma Inc., an ophthalmic biopharmaceutical company in the clinical stages, specializes in developing and commercializing solutions for the management of refractive and retinal eye issues. Ocuphire has two small molecule pharmaceutical candidates in its pipeline for front and back of the eye applications. The Nyxol candidate is being developed to treat presbyopia, medication-induced mydriasis, and issues with nighttime or low-light vision. The development of the second product candidate, APX3330, for diabetic retinopathy and diabetic macular edema. Ocuphire Pharma, Inc. received a U.S. patent in June 2022 for APX3330, a late-stage oral drug candidate for individuals with diabetic
· Bayer AG
· Alcon Inc.
· Alimera Sciences Inc.
· Bausch Health Co Inc.
· Bristol Myers Squibb Co.
· F. Hoffmann La Roche Ltd.
· Kubota Corp.
· MeiraGTx Holdings Plc
· Novartis AG
· Ocular Therapeutix Inc.
· Oxurion NV
· Pfizer Inc.
· Regeneron Pharmaceuticals Inc.
· REGENXBIO Inc
· Sanofi SA
March 2021: SemaThera Inc. secured a licensing agreement and a research cooperation with Roche in order to develop a new class of biologicals for the treatment of diabetic retinopathy and ischemic retinal diseases.
December 2022: Olix Pharmaceuticals has registered the OLX301A phase 1 clinical trials for the treatment of wet and dry muscle atrophy in the US.
· Hospital Pharmacy
· Retail Pharmacy
· Online Pharmacy
· Macular Degeneration
· Diabetic Eye Disease
· 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 5.7 Billion |
|
Market Size 2023 |
USD 5.9 Billion |
|
Market Size 2032 |
USD 9.7 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.70% (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 |
Distribution Channel, Indication, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Bayer AG, Alcon Inc., Alimera Sciences Inc., Bausch Health Co Inc., Bristol Myers Squibb Co., F. Hoffmann La Roche Ltd., Kubota Corp., MeiraGTx Holdings Plc, Novartis AG, Ocular Therapeutix Inc., Oxurion NV, Pfizer Inc., Regeneron Pharmaceuticals Inc., REGENXBIO Inc, and Sanofi SA |
|
Key Market Opportunities |
Launch of new drugs |
|
Key Market Dynamics |
The rise in the prevalence of retinal diseases, rapid growth in geriatric population, and increasing worldwide incidence of diabetes |
The global Retinal Drugs Market was valued at USD 5.7 billion in 2022, and it is estimated to reach USD 9.7 billion by 2032.
The global market is projected to grow at a CAGR of 6.70% during the forecast period, 2023-2032
North America had the largest share in the global market
The key players in the market are Bayer AG, Alcon Inc., Alimera Sciences Inc., Bausch Health Co Inc., Bristol Myers Squibb Co., F. Hoffmann La Roche Ltd., Kubota Corp., MeiraGTx Holdings Plc, Novartis AG, Ocular Therapeutix Inc., Oxurion NV, Pfizer Inc., Regeneron Pharmaceuticals Inc., REGENXBIO Inc, and Sanofi SA
The Hospital Pharmacy Distribution Channel dominated the market in 2022.
The Macular Degeneration Indication had the largest share in the global market.
Report Code :
RL6580
Published on :
Aug 2023
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