Retinal Biologics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Retinal Biologics Market Analysis
The retinal biologics market studied is anticipated to record a CAGR of nearly 6.8% during the forecast period.
COVID-19 pandemic has had a substantial impact on the retinal biologics market initially. The global lockdown has affected the supply chain of pharmaceuticals, medical devices, and biotechnological products. As per the study "Retinal findings in patients with COVID-19: Results from the SERPICO-19 study," published in September 2020, COVID-19 could affect the retina. Retinal veins diameter seems directly correlated with the disease severity. Thus, during COVID-19, retinal diseases increased, impacting the demand for retinal biologics. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction due to the significant increase in the need for retinal globally.
Further, the rising burden of retinal diseases, the increasing diabetic patient population, increasing R&D activities, and the growing number of FDA approvals are among the major factors driving the growth of the studied market. Currently, there has been a tremendous increase in the diabetic population, across the globe, over the past decade. Several reports and surveys documented a drastic increase in the diabetic population based on the changing lifestyle and habits. For instance, according to the Asian Diabetics Prevention Initiatives, the higher contribution of diabetes burden are in China and India, and by 2030, both China and India combined may have almost half a billion diabetic patients.
As per the study "Global Prevalence of Diabetic Retinopathy and Projection of Burden through 2045: Systematic Review and Meta-analysis," published in November 2021, the number of adults globally with diabetic retinopathy was estimated to be 103.12 million in 2020, and by 2045, the numbers are projected to increase to 160.50 million. Thus, the growing burden of retinal diseases such as diabetic retinopathy may increase the demand for biologic treatment, which is expected to further drive the market growth.
Furthermore, in February 2022, Eyebiotech Limited secured USD 65 million in a series A financing round for developing a diverse pipeline of therapies for eye diseases such as wet age-related macular degeneration, diabetic retinopathy, etc. Therefore, rising investments may also boost innovation in the studied market, thereby driving the studied market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, stringent regulatory process and initial high capital investment is likely to impede the market growth.
Retinal Biologics Market Trends
Diabetic Retinopathy Segment Expected to Witness Growth over the Forecast Period
Diabetic retinopathy (DR) is a microvascular complication caused by high blood sugar due to diabetes. Too much sugar in the blood over time damages the retina. Factors such as growing diabetes, increasing research and development, and the launch of the product are driving the market segment's growth over time.
According to the article published by International Diabetes Federation in March 2020, the devastating consequences of diabetes mellitus are set to continue due to the predicted increase in prevalence from 463 million in 2019 to 700 million in 2045. Among this diabetic population, the global prevalence of diabetic retinopathy (DR) and diabetic macular edema (DME)inr 2019 was 27.0%. The lowest prevalence was in Europe at 20.6% and South East Asia at 12.5%, and the highest in Africa at 33.8%, theMiddle Eastt and North Africa at 33.8%, and the Western Pacific region at 36.2%.
The market segment growth is also contributed by the launch of products and approval from the global regulatory authorities. For Instance, in May 2019, Regeneron Pharmaceuticals, Inc. received United States Food and Drug Administration (FDA) approval for EYLEA (aflibercept) Injection to treat all stages of diabetic retinopathy. Such approvals are driving the growth of the market over the forecast period.
Therefore, the diabetic retinopathy segment is expected to witness significant growth over the forecast period due to the abovementioned factors
North America Expected to Dominate the Market
The primary driving factors for the growth of the North American retinal biologics market are the rising burden of retinal diseases, the growing burden of the diabetic population in the region, the rise in research and development activities, increasing product launches, and rising strategic initiatives by key market players.
The United States within North America is expected to hold a significant share of the studied market during the study period. For instance, as per the article published by International Diabetes Federation, in December 2021, 51 million adults aged between 20-79 years were living with diabetes in the North America and Caribbean Region in 2021. This number is estimated to increase to 57 million by 2030 and 63 million by 2045.
According to the data published by the Centers for Disease Control and Prevention (CDC), in 2020, around 4.1 million Americans were affected with diabetic retinopathy, and nearly 900,000 Americans were threatened with vision-damaging retinopathy. Diabetic retinopathy is one of the leading disorders of posterior segment eye disorders. Increasing prevalence may increase the demand for treatment in a huge population which may boost the market growth in the country.
Moreover, strategic initiatives taken by the key market players, such as product launches, partnerships, initiation of new programs, and mergers and acquisitions, may drive market growth. For instance, in October 2021, Novartis received the United States Food and Drug Administration (FDA) approval for the company's supplemental Biologics License Application (sBLA) for the type-II variation application for Beovu (brolucizumab) 6 mg for the treatment of diabetic macular edema (DME).
Additionally, In July 2021, Genentech, a member of the Roche Group, announced that the US Food and Drug Administration (FDA) accepted the company's Biologics License Application (BLA) for faricimab for the treatment of wet, or neovascular, age-related macular degeneration (AMD), diabetic macular edema (DME) and diabetic retinopathy. Thereby, such developments are elevating the growth of the market.
Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.
Retinal Biologics Industry Overview
The retinal biologics market is competitive and consists of a few major players. The strategies such as mergers and acquisitions adopted by the key market player may boost the market growth. Companies like F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., AbbVie Inc., MeiraGTx Limited, and Oxurion NV, among others, hold a substantial market share in the market.
Retinal Biologics Market Leaders
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F. Hoffmann-La Roche Ltd
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Regeneron Pharmaceuticals Inc.
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AbbVie Inc.
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MeiraGTx Limited
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Oxurion NV
*Disclaimer: Major Players sorted in no particular order
Retinal Biologics Market News
- In April 2022, Shilpa Biologicals (SBPL) received an NoC from RCGM, Dept of Biotechnology, to approach the Drugs Controller General of India (DCGI) to conduct clinical studies for its Biosimilar Aflibercept for the Wet Age-Related Macular Degeneration (wAMD), Diabetic Retinopathy, Diabetic Macular Edema (DME) and Macular Edema following Retinal Vein Occlusion markets in India and globally.
- In January 2022, the Food and Drug Administration approved Roche for an eye disorder that could cause blindness in older people, called Vabysmo, for wet age-related macular degeneration.
Retinal Biologics Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Retinal Diseases and Increasing Diabetic Patient Population
4.2.2 Increasing R&D Activities and Growing Number of FDA Approvals
4.3 Market Restraints
4.3.1 Stringent Regulatory Process and Initial High Capital Investment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - UDS Million)
5.1 By Drug Class
5.1.1 VEGF-A Antagonist
5.1.2 TNF-a Inhibitor
5.2 By Disease Indication
5.2.1 Macular Degeneration
5.2.2 Diabetic Retinopathy
5.2.3 Uveitis
5.2.4 Other Disease Indications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 F. Hoffmann-La Roche Ltd
6.1.2 Regeneron Pharmaceuticals Inc.
6.1.3 AbbVie Inc.
6.1.4 MeiraGTx Limited
6.1.5 Oxurion NV
6.1.6 Novartis
6.1.7 GenSight Biologics
6.1.8 Adverum Biotechnologies
6.1.9 SemaThera Inc.
6.1.10 Amgen
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Retinal Biologics Industry Segmentation
As per the report's scope, biologics are generally produced from living organisms such as microorganisms or animal or plant cells. Retinal biologics refer to bioengineered molecules implanted inside the eyes to heal chronic retinal diseases. The Retinal Biologics Market is Segmented by Drug Class (VEGF-A Antagonist, TNF-a Inhibitor), Disease Indication (Macular Degeneration, Diabetic Retinopathy, Uveitis, Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (in USD million) for the above segments. The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for the above segments.
| By Drug Class | |
| VEGF-A Antagonist | |
| TNF-a Inhibitor |
| By Disease Indication | |
| Macular Degeneration | |
| Diabetic Retinopathy | |
| Uveitis | |
| Other Disease Indications |
| Geography | ||||||||
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Retinal Biologics Market Research FAQs
What is the current Global Retinal Biologics Market size?
The Global Retinal Biologics Market is projected to register a CAGR of 6.80% during the forecast period (2024-2029)
Who are the key players in Global Retinal Biologics Market?
F. Hoffmann-La Roche Ltd , Regeneron Pharmaceuticals Inc. , AbbVie Inc. , MeiraGTx Limited and Oxurion NV are the major companies operating in the Global Retinal Biologics Market.
Which is the fastest growing region in Global Retinal Biologics Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Retinal Biologics Market?
In 2024, the North America accounts for the largest market share in Global Retinal Biologics Market.
What years does this Global Retinal Biologics Market cover?
The report covers the Global Retinal Biologics Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Retinal Biologics Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Retinal Biologics Industry Report
Statistics for the 2024 Retinal Biologics market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Retinal Biologics analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
