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Global Retinal Biologics Market In-Depth Qualitative Insights And Future Growth Analysis
Global Retinal Biologics Market
The Business Research Company offers in-depth market insights through Retinal Biologics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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 growth in the historic period can be attributed to increased incidence of retinal disorders, aging population, rising awareness and early diagnosis, evolving healthcare infrastructure, increasing 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 growth in the forecast period can be attributed to expanding therapeutic applications, personalized medicine, emerging markets growth, strong pipeline of biologics, collaborations and partnerships, government initiatives and support.. Major trends in the forecast period include non-invasive delivery methods, real-world evidence utilization, expanded indications, regulatory pathway streamlining, patient-centric outcomes..
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Market Segmentation:
The retinal biologics market covered in this report is segmented -
1) By Drug Class: Vascular Endothelial Growth Factor (VEGF)-A Antagonist, Tumor Necrosis Factor (TNF)-A Inhibitor
2) By Indication: Macular Degeneration, Diabetic Retinopathy, Uveitis, Diabetic Macular Edema, Other Indications
3) By Distribution Channel: Hospitals, Pharmacies, Specialty Clinics, Online Pharmacies, Other Distribution Channels
Major Driver - Retinal Biologics Market Surges Amid Rising Cases Of Diabetic Eye Disease
The increasing prevalence of diabetic eye disease is expected to propel the growth of the retinal biologics market going forward. Diabetic eye disease is a complication of diabetes that affects the eyes by causing vision loss and blindness in people with diabetes. Retinal biologics hold the potential for more precise and effective treatment options, allowing for earlier intervention and improved outcomes in preventing vision loss associated with diabetic eye disease For instance, in June 2023, according to a research study conducted by the American Medical Association, a US-based professional association and lobbying group of physicians and medical students, diabetic retinopathy affected 9.60 million individuals in the United States, constituting 26.43% of the diabetic population, while vision-threatening diabetic retinopathy was observed in 1.84 million people, accounting for 5.06% of those with diabetes. Therefore, the increasing prevalence of diabetic eye disease is driving the growth of the retinal biologics market.
Competitive Landscape:
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
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Top Trend - Retinal Biologics Market Expands With Roche's Breakthrough Vabysmo
Product innovation is a key trend gaining popularity in the retinal biologics market. Major companies operating in the retinal biologics market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in May 2023, F. Hoffmann-La Roche Ltd., a Switzerland-based healthcare company, announced that the U.S. Food and Drug Administration had accepted the company's supplemental biologics license application (sBLA) for Vabysmo (faricimab) for the treatment of macular edema following retinal vein occlusion (RVO). Acceptance was based on two Phase III trials that showed early and persistent visual improvement with Vabysmo, achieving the primary endpoint of non-inferiority to aflibercept. This product is the first bispecific antibody approved for the eye to treat neovascular or 'wet' age-related macular degeneration and diabetic macular edema. Further studies showed an absence of blood vessel leakage in the retina in Vabysmo patients compared to aflibercept patients.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Retinal Biologics Market Characteristics
3. Retinal Biologics Market Trends And Strategies
4. Retinal Biologics Market - Macro Economic Scenario
5. Retinal Biologics Market Size And Growth
…..
27. Retinal Biologics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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