Retinal Biologics Market: 8.41% CAGR Expected
Evolve Business Intelligence has published a research report on the Global Retinal Biologics Market, 2023–2033. The global Retinal Biologics market is projected to exhibit a CAGR of around 8.41%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Retinal Biologics Market: Novartis AG, Hoffmann La Roche Ltd, ABBVIE INC., MeiraGTx Limited, OncoGene, Johnson & Johnson, Allergan, Bristol-Myers Squibb Company, Regeneron, Oxurion NV
More Information: https://evolvebi.com/report/retinal-biologics-market-analysis/
Market Highlights
The Global Retinal Biologics market is projected to be valued at USD 49.87 Billion by 2033, recording a CAGR of around 8.41% during the forecast period. The retinal biologics market focuses on treatments derived from biological sources to address retinal diseases, including age-related macular degeneration (AMD), diabetic retinopathy, and retinal vein occlusion. These biologics, such as anti-VEGF (vascular endothelial growth factor) agents, are designed to inhibit abnormal blood vessel growth and leakage in the retina. The market is driven by the increasing prevalence of retinal disorders, advancements in biologic therapies, and growing investment in ophthalmic research. Key players include pharmaceutical and biotechnology companies developing innovative biologic treatments to improve patient outcomes and preserve vision.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Retinal Biologics market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
Segmental Analysis
The global Retinal Biologics market has been segmented based on Drug Class, Retinal Disorder Type, Distribution Channel
Based on the Drug Class, the market is segmented based on TNF-α Inhibitor, VEGF-A Antagonist. VEGF-A Antagonists dominate due to their proven effectiveness in treating a range of retinal disorders, including Age-related Macular Degeneration (AMD) and Diabetic Retinopathy (DR).
Based on the Retinal Disorder Type, the market has been divided into Age-related Macular Degeneration (AMD), Diabetic Retinopathy (DR), Diabetic Macular Edema (DME), Macular Hole, Uveitis, Others. Age-related Macular Degeneration (AMD) dominates due to its high prevalence among the aging population and the significant impact of biologic therapies in managing this condition.
Based on Distribution Channel, the market has been divided into Hospitals, Retail Pharmacies, Specialty Ophthalmology Clinics. hospitals typically dominate as the primary distribution channel due to their comprehensive facilities for administering complex biologic treatments and the high volume of patients requiring advanced retinal care.
More Information: https://evolvebi.com/report/retinal-biologics-market-analysis/
Regional Analysis
The Retinal Biologics market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America dominates the Retinal Biologics market due to several factors. In 2022, the Retinal Biologics Market in North America held a 45.80% market share. One of the continuing problems for the US and other countries is thought to be eye ailments. America accounted for the largest market because to the rising rates of uveitis, diabetic retinopathy, macular degeneration, and other eye illnesses. Approximately 196 million people worldwide currently suffer from macular degeneration; by 2040, that figure is expected to increase to 288 million. Due to the increasing number of new cases of eye diseases in this area, there is a growing need for retinal biologics products. The Asia-Pacific region has been witnessing remarkable growth in recent years. From 2023 to 2032, the Asia Pacific retinal biologics market is anticipated to grow at a substantial rate. This region has seen a rise in market growth as a result of increased research into the development of retinal biologics and the rising incidence of eye disorders. Furthermore, the aging population is driving the demand for retinal biologics.
