Retinal Biologics Market to Grow with a CAGR of 4.25% through 2028
Rising incidence of retinal diseases and
increasing investment in research and development are factors driving the
global Retinal Biologics market in the forecast period 2024-2028.
According to TechSci Research report, “Retinal
Biologics Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Retinal Biologics Market
stood at USD 14.78 Billion in 2022 and
is anticipated to grow with a CAGR of 4.25% in the forecast period, 2024-2028. The global
retinal biologics market is witnessing rapid growth, driven by several key
market drivers. These drivers are shaping the landscape of retinal biologics,
leading to innovative therapies and a promising future for patients suffering
from retinal diseases. One of the primary drivers of the global retinal
biologics market is the increasing prevalence of retinal diseases. Conditions
such as age-related macular degeneration (AMD), diabetic retinopathy, and
retinal vein occlusion are on the rise due to factors like an aging population
and the global diabetes epidemic. As a result, there is a growing demand for
effective treatments, leading to a surge in the development and adoption of
retinal biologics.
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Biologics Market.”
Advancements in biotechnology have paved
the way for the development of highly targeted and efficacious retinal
biologics. These therapies are designed to specifically address the underlying
molecular mechanisms of retinal diseases, providing improved outcomes compared
to traditional treatments. The use of monoclonal antibodies, gene therapies,
and cell-based therapies has expanded the treatment options available to
patients, driving the market forward. Pharmaceutical companies and
biotechnology firms are investing heavily in research and development (R&D)
activities focused on retinal biologics. The potential for substantial returns
on investment, coupled with the unmet medical needs in this space, has spurred
funding for innovative therapies. As a result, there is a steady stream of new
and promising retinal biologics entering clinical trials and subsequently, the
market.
Regulatory agencies such as the U.S.
Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have
recognized the urgency of addressing retinal diseases and have implemented
expedited approval pathways for promising therapies. This regulatory support
has reduced the time it takes for retinal biologics to reach the market,
accelerating patient access to these innovative treatments. Improved diagnostic
tools and techniques for retinal diseases have enabled earlier and more
accurate detection of these conditions. This early diagnosis creates a greater
window of opportunity for treatment, making retinal biologics an attractive
option for both patients and healthcare providers.
The Global Retinal Biologics Market is segmented into drug
class, indication, distribution channel and company.
Based on distribution channel, the Hospital Pharmacies segment has
emerged as the predominant market leader.
The
dominance of hospital pharmacies in the global retinal biologics market is a
testament to their expertise, infrastructure, and commitment to patient care.
As the demand for retinal biologics continues to rise, hospital pharmacies play
a pivotal role in ensuring that patients receive the most effective and timely
treatment for their retinal diseases. This partnership between pharmaceutical
companies, retinal specialists, and hospital pharmacies is crucial in advancing
the field of retinal biologics and improving the lives of countless individuals
suffering from retinal diseases.
Based on region, North America segment is expected to
grow during the forecast period. North America has a
well-established and stringent regulatory environment that ensures the safety
and efficacy of pharmaceuticals, including retinal biologics. Regulatory bodies
such as the U.S. Food and Drug Administration (FDA) and Health Canada have rigorous
approval processes that help maintain high standards in the industry. This
level of regulation fosters confidence among investors, researchers, and
patients, encouraging further development and innovation in the field. Collaboration between pharmaceutical companies,
research institutions, and academia is thriving in North America. This synergy
accelerates the development of retinal biologics by bringing together the
expertise of scientists, clinicians, and industry professionals. This
collaborative approach enhances the quality and quantity of research conducted
in the region, ultimately leading to the development of more effective
treatments.
The Asia Pacific region is experiencing rapid market
growth. The region’s pharmaceutical companies that specialize in retinal
biologics often extend their global reach. Their products are not only widely
used within the region but also exported to markets worldwide. This global
leadership position not only solidifies Asia Pacific's dominance but also
creates economic opportunities and strengthens the pharmaceutical industry's
international standing.
Major companies operating in Global Retinal
Biologics Market are:
- AbbVie Inc.
- Amgen Inc.
- Bayer AG
- Biocon Limited
- Biogen Inc.
- Coherus BioSciences, Inc.
- F. Hoffmann-La Roche Ltd.
- Novartis AG
- Outlook Therapeutics, Inc.
- Regeneron Pharmaceuticals, Inc.
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“The global retinal biologics market is poised for
significant growth, thanks to various market drivers such as the rising
incidence of retinal diseases, advancements in biotechnology, increased R&D
investments, regulatory support, growing awareness, improved diagnostic tools,
and an aging population. These factors collectively contribute to a thriving
landscape for retinal biologics, offering hope to countless patients seeking
effective treatments for debilitating retinal conditions.,” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Retinal Biologics Market By Drug
Class (VEGF-A Antagonist, Others), By Indication (Macular Degeneration,
Diabetic Retinopathy, Others), By Distribution Channel (Hospital Pharmacies,
Online Providers, Drug Stores and Retail Pharmacies), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Retinal Biologics Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Retinal
Biologics Market.
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