PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437507
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1437507
Retinal Biologics Market size was valued at USD 22,345 Million in 2023, expanding at a CAGR of 7.5% from 2024 to 2032.
Specialized therapeutic compounds called retinal biologics are used to treat a variety of retinal conditions, including diabetic retinopathy and macular degeneration. These biologics, which include proteins and antibodies produced from living things, are made to specifically target molecules or processes associated with retinal disorders. They provide more effective treatment alternatives than traditional techniques by offering tailored medicines that address the underlying processes of retinal diseases. Usually, intravitreal injections are used to give retinal biologics, which entail injecting the drug right into the eye.
Retinal Biologics Market- Market Dynamics
Increasing prevalence of diabetes and macular degeneration to propel market demand
The increasing prevalence of diabetes and macular degeneration across the globe is expected to drive the retinal biologics market over the forecast period. For instance, according to the data published by the Diabetes Research Institute Foundation, 11.3% of Americans, or 37.3 million individuals, suffer from diabetes. 28.7 million persons were projected to have been diagnosed with diabetes. 8.6 million people worldwide suffer from diabetes but are not yet aware of their condition. Similarly, as per the data provided by the CDC, 19.8 million Americans (or 12.6% of the population) over 40 had age-related macular degeneration (AMD) in 2019. Thus, the aforementioned statistics are expected to propel the revenue growth of the market.
Retinal Biologics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.5% over the forecast period (2024-2032)
Based on drug class segmentation, the VEGF-A Antagonist sector dominates the market
Based on indication segmentation, the macular degeneration held the largest market share in 2023
Based on distribution channel segmentation, the hospital pharmacies dominate the market
Based on region, North America was the leading revenue generator in 2023
The Global Retinal Biologics Market is segmented based on Drug Class, Indication, Distribution Channel, and Region.
The market is divided into two categories based on drug class: TNF-a Inhibitor and VEGF-A Antagonist. The VEGF-A Antagonist sector dominates the market. The segment expansion is attributed to the growing product approvals. For instance, Novartis disclosed that Beovu® (brolucizumab) injection is now authorized by the European Commission (EC) to treat wet age-related macular degeneration (AMD). Beovu is the first anti-VEGF medication licensed by the European Commission that has shown better resolution of retinal fluid (IRF/SRF), a crucial indicator of disease activity, in comparison to aflibercept (secondary endpoints).
The market is divided into four categories based on indication: diabetic retinopathy, macular degeneration, uveitis and others. Macular degeneration held the largest market share in 2023 and is expected to continue the same pattern during the forecast period due to the growing number of drugs being developed for macular degeneration and the condition's increasing global incidence. For instance, in September 2022 research released by the National Library of Medicine predicted that over 300 million people worldwide will have age-related macular degeneration (AMD) by the year 2040.
The market is divided into three categories based on distribution channel: hospital pharmacies, retail pharmacies and online pharmacies. Hospital pharmacies dominate the market and are likely to maintain their dominance during the forecast period due to the availability of various types of medication.
Retinal Biologics Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to lead the retinal biologics market during the forecast period. The regional expansion is attributed to the presence of major market players and the approvals of their products. For instance, in August 2023, Veopoz (pozelimab-bbfg), a monoclonal antibody, was authorized by the FDA by Regeneron Pharmaceuticals to treat CHAPLE disease, also known as CD55-deficient protein-losing enteropathy, in adults and pediatric patients one year of age and older. Additionally, the firm reported that the FDA has authorized Eylea HD (aflibercept) Injection 8 mg, a high-dose form of Eylea, for the treatment of diabetic retinopathy, diabetic macular edema, and wet age-related macular degeneration (wAMD). Furthermore, the increasing prevalence of diabetes and the prevalence of macular degeneration is expected to propel the market growth in the region.
The key players operating in the market are F. Hoffmann-La Roche Ltd, Pfizer Inc., Merck & Co Inc, Bayer AG, AbbVie Inc., Janssen Biotech, Boehringer Ingelheim International GmbH, AstraZeneca plc, Fresenius SE, Teva Pharmaceuticals Industries Ltd., Novartis AG, Amgen Inc, Regeneron Pharmaceuticals Inc, Sun Pharmaceutical Industries Ltd. and Bristol-Myers Squibb. To obtain access to new markets, market players are continuously pursuing a variety of strategic initiatives, including the creation of new products, funding and investments, mergers and acquisitions, and other strategic partnerships.
In June 2023, Wacker Biotech, a contract development and manufacturing organization (CDMO), and Caeregen Therapeutics, a regenerative medicine therapeutics company, will work together to develop and produce CTR-107 (NoregenTM), a novel regenerative therapeutic for the treatment of retinal-related vision loss. To facilitate the start of Phase I/II clinical studies in 2024, Wacker Biotech, as Caeregen's CDMO partner for CTR-107, will create drug substance at its location in Halle, Germany, and complete clinical trial drug product manufacturing at its location in Amsterdam, the Netherlands. The first program to treat familial exudative vitreoretinopathy (FEVR) to get a Rare Pediatric Disease Designation from the US FDA is CTR-107.
GLOBAL RETINAL BIOLOGICS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
F. Hoffmann-La Roche Ltd
Pfizer Inc.
Merck & Co. Inc
Bayer AG
AbbVie Inc.
Janssen Biotech
Boehringer Ingelheim International GmbH
AstraZeneca plc
Fresenius SE
Teva Pharmaceuticals Industries Ltd.
Novartis AG
Amgen Inc
Regeneron Pharmaceuticals Inc
Sun Pharmaceutical Industries Ltd.
Bristol-Myers Squibb