PUBLISHER: The Business Research Company | PRODUCT CODE: 1427998
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427998
Retinal biologics refer to bioengineered macromolecules that are implanted inside the eyes to treat chronic retinal diseases. These highly precise compounds target inflammatory mediators and are used in the treatment of various inflammatory, corneal, and retinal medical conditions.
The main types of retinal biologics include vascular endothelial growth factor (VEGF)-A antagonists and tumor necrosis factor (TNF)-A inhibitors. A VEGF-A antagonist is a substance that inhibits the activity of vascular endothelial growth factor, a potent angiogenic factor and an essential growth factor for vascular endothelial cells. These biologics are administered for various indications, including macular degeneration, diabetic retinopathy, uveitis, diabetic macular edema, and others. They are typically available in hospitals, pharmacies, specialty clinics, online pharmacies, and other healthcare facilities.
The retinal biologics market research report is one of a series of new reports from The Business Research Company that provides retinal biologics market statistics, including retinal biologics industry global market size, regional shares, competitors with a retinal biologics market share, detailed retinal biologics market segments, market trends, and opportunities, and any further data you may need to thrive in the retinal biologics industry. This retinal biologics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The retinal biologics market size has grown rapidly in recent years. It will grow from $22.48 billion in 2023 to $25.45 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The increase observed in the historical period can be attributed to factors such as the increased incidence of retinal disorders, an aging population, growing awareness and early diagnosis of retinal conditions, the evolution of healthcare infrastructure, and a rise in healthcare expenditure.
The retinal biologics market size is expected to see rapid growth in the next few years. It will grow to $39.69 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The anticipated growth in the forecast period can be attributed to factors such as expanding therapeutic applications, the trend towards personalized medicine, growth in emerging markets, a strong pipeline of biologics, collaborations and partnerships within the industry, and government initiatives and support. Noteworthy trends expected during the forecast period include the adoption of non-invasive delivery methods, increased utilization of real-world evidence, expansion of indications for retinal biologics, streamlining of regulatory pathways, and a growing focus on patient-centric outcomes.
The anticipated rise in the prevalence of diabetic eye disease is poised to drive the growth of the retinal biologics market. Diabetic eye disease, a complication associated with diabetes, leads to vision impairment and blindness in affected individuals. The use of retinal biologics presents a promising avenue for more precise and effective treatment options, allowing for early intervention and improved outcomes in preventing vision loss linked to diabetic eye disease. A recent research study conducted by the American Medical Association in June 2023 revealed that diabetic retinopathy impacted 9.60 million individuals in the United States, constituting 26.43% of the diabetic population, with 1.84 million people experiencing vision-threatening diabetic retinopathy, accounting for 5.06% of those with diabetes.
The growing demand for personalized medicine is anticipated to fuel the expansion of the retinal biologics market. Personalized medicine, tailored to an individual's unique genetic makeup, offers more effective and precise healthcare interventions. In the realm of retinal biologics, personalized medicine strategies are employed to customize treatment approaches based on individual genetic and molecular profiles, optimizing efficacy while minimizing adverse effects. Data from the Personalized Medicine Coalition in January 2023 revealed that out of the 37 new molecular entities (NMEs) approved by the Food and Drug Administration's Center for Drug Evaluation and Research (CDER) in 2022, approximately 34% (12 NMEs) are classified as personalized medicines by the Personalized Medicine Coalition.
A prominent trend gaining traction in the retinal biologics market is product innovation. Leading companies in this market are actively engaged in the development of innovative products to enhance their market position and gain a competitive edge. Notably, F. Hoffmann-La Roche Ltd., a Switzerland-based healthcare company, announced in May 2023 that the U.S. Food and Drug Administration had accepted the company's supplemental biologics license application (sBLA) for Vabysmo (faricimab), designed for the treatment of macular edema following retinal vein occlusion (RVO). Vabysmo is a bispecific antibody that has demonstrated early and persistent visual improvement, achieving the primary endpoint of non-inferiority to aflibercept. This product marks a significant advancement as the first bispecific antibody approved for the eye to treat 'wet' age-related macular degeneration and diabetic macular edema.
Strategic partnerships are a prominent approach adopted by major companies in the retinal biologics market to fortify their market presence and offer innovative solutions. Biogen Inc., a U.S.-based biotechnology company, entered into a strategic partnership with Samsung Bioepis Co., Ltd., a South Korean biotechnology company, in June 2022. This collaboration led to the launch of BYOOVIZ, a biosimilar for retinal vascular disorders. BYOOVIZ holds potential for substantial cost savings within the U.S. healthcare system while expanding access for patients with retinal disorders.
In January 2023, Coherus BioSciences Inc., a U.S.-based biosimilar therapeutics company, secured exclusive commercialization rights to FYB203, a biosimilar candidate of Eylea (aflibercept), from Klinge Biopharma GmbH in the United States. This strategic acquisition expands Coherus' market opportunity in the anti-VEGF medications segment, supporting mid-to-long-term growth and revenue potential. Klinge Biopharma GmbH is a Germany-based firm specializing in anti-VEGF medications.
Major companies operating in the retinal biologics market report are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co Inc., AbbVie Inc., Bayer AG, Janssen Biotech, Novartis AG, Fresenius SE, AstraZeneca PLC, Boehringer Ingelheim International GmbH., Amgen Inc., Teva Pharmaceuticals Industries Ltd., Bristol-Myers Squibb, Regeneron Pharmaceuticals Inc., Sun Pharmaceutical Industries Ltd., Sanofi Genzyme, Bausch & Lomb, Santen Pharmaceutical Co. Ltd., Swedish Orphan Biovitrum, Ocular Therapeutix, Alimera Sciences, Adverum Biotechnologies Inc., MeiraGTx Limited, Oxurion NV, Graybug Vision Inc., Kodiak Sciences Inc., Clearside Biomedical Inc., UCBCares, Allergan PLC, Genentech Inc., Iveric bio Inc., Neurotech Pharmaceuticals Inc., Opthea Limited
North America was the largest region in the retinal biologics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retinal biologics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the retinal biologics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The retinal biologics market consists of sales of ranibizumab, aflibercept, and brolucizumab. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Retinal Biologics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on retinal biologics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for retinal biologics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The retinal biologics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.