A recent report published by Infinium Global Research on the retinal biologics market provides in-depth analysis of segments and sub-segments in the global as well as regional retinal biologics market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional retinal biologics market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global retinal biologics market. According to the report, the global retinal biologics market is projected to grow at a CAGR of 11.21% over the forecast period of 2021-2027.
The Retinal Biologics market was valued at USD 18 billion in 2021 and is expected to reach USD 34 billion in 2027, with a CAGR of 11.21% during the forecast period. The retina is a part of the human eye system which is highly sensitive and functions as a receiver and processor of light. The retina converts the light into neural signals and transports it to the brain for human operation. Furthermore, due to disorders like diabetic retinopathy, age-related macular degeneration, infectious retinitis, macular edema, retinoblastoma, retinoschisis, retinal degeneration, and other diseases, the function and structure of the retina gets affected. Hence to overcome this problem, biologics are used, which are biotech products used for therapeutics and are produced from microorganisms, or components of animal or plant cells. Moreover, retinal biologics are implemented in the treatment of various retinal disorders. Additionally, these are bioengineered molecules and are usually implemented in the eyes to treat chronic retinal ailments. For people above 50 years, age-related macular degeneration (AMD) is one of the leading causes of blindness. There are many approaches for the therapeutics of retinal disorders, out of which surgery and medications are the often-used approaches.
The prime factors propelling the growth of the retinal biologics market are the growing geriatric population and associated diseases such as age-related macular degeneration (AMD). For instance, The American Academy of Ophthalmology studies has stated that approximately 15 million patients in the United States suffer from AMD. The AMD disease can cause central visual acuity loss in either one or both eyes of a patient, especially in elderly patients. Furthermore, there is a heavy investment in R&D activities related to retinal biologics, which is anticipated to boost the growth of the retinal biologics market. Also, there are many strategic partnerships between retinal biologics market players, which can drive the development of the market during the forecast period. Moreover, several health issues such as hypertension and hypercholesterolemia are caused by a higher frequency of smoking and alcohol consumption. Such health issues are also creating a positive impact on the retinal biologics market. Additionally, diabetes leads to one of the most common retinal disorders like diabetic retinopathy and diabetic macula edema; hence rising prevalence of diabetes is also boosting the market’s growth during the forecast period. On the other hand, the factors which are hindering the growth of the retinal biologics market are the dearth of accessibility for retinal biologics, insufficient availability of retinal biologics, harmful side effects of biologics, strict regulatory compliances imposed by government authorities associated with biologics approval, inefficient therapeutics due to the higher costs, and others. Nevertheless, the rising geriatric population and disposable income will create exponential opportunities for the retinal biologics market.
North America holds the largest market share in the global retinal biologics market and is expected to dominate the market during the forecast period. North America has become the dominating region for the retinal biologics market due to rising cases of macular degeneration, diabetic retinopathy, uveitis, and others. Hence, the increasing new cases of eye problems in the North American region raises the demand for retinal biologics products. Furthermore, after North America, Europe is the second-largest market for retinal biologics due to growing innovation in the healthcare industry, increasing focus on developing new retinal biologics, and a large number of healthcare companies in the region. However, Asia Pacific is expected to be the fastest-growing region in the retinal biologics market during the forecast period. In the Asia Pacific, there is a growing prevalence of eye diseases, a rising geriatric population, and an increase in research for the development of retinal biologics. All these factors support the growth of the retinal biologics market in the Asia Pacific region.
The report on the global retinal biologics market covers segments such as drug class, indication, and distribution channel. On the basis of drug class, the sub-markets include TNF-alpha inhibitor, and VEGF-A antagonist. On the basis of indication, the sub-markets include macular degeneration, diabetic retinopathy, and uveitis. On the basis of distribution channel, the sub-markets include hospitals, clinics, and pharmacies.
The report provides profiles of the companies in the market such as Regeneron Pharmaceuticals Inc. (US), Ocular Therapeutixc.(US), Spark Therapeutics (US), Hoffmann-La Roche Ltd (Basel, Switzerland), AbbVie Inc. (US), Johnson & Johnson Services, Inc. (US), Amgen Inc. (US), and MeiraGTx Limited (US).
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the retinal biologics market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.