Retinal Biologics Market Size Global Gathering and Future Outlook 2020 to 2027
The growth of the Global Retinal Biologics Market is driven
by various factors, such as the growing demand for effective biological drugs,
rising research, and development activities to develop new drugs for ophthalmic
conditions. Additionally, increasing strategic collaboration, expansion, and
product launches by the companies also contribute to market growth.
According to MRFR analysis, the Global Retinal
Biologics Market is expected to register a CAGR of 11.5% during the
forecast period of 2020 to 2027 and is anticipated to reach USD 34,891.44
Million by 2027.In August 2019, Regeneron Pharmaceuticals, Inc. received the US
FDA approval for the EYLEA (aflibercept) injection prefilled syringe used for
the treatment of retinal conditions. However, the ignorance of healthcare
issues, lack of awareness about the new drugs available in the market in the
developing countries hamper the market growth.
Key Players
Some of the Key Players in the Global Retinal Biologics
Market are Regeneron Pharmaceuticals Inc. (US), Ocular Therapeutixc (US), Spark
Therapeutics (US), F. Hoffmann-La Roche Ltd (Basel, Switzerland), AbbVie Inc.
(US), Johnson & Johnson Services, Inc. (US), Amgen Inc. (US), MeiraGTx
Limited (US) and many more.
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Segmentation
Global Retinal Biologics Market has been segmented based on
Drug Class, Indication, and Distribution Channel.
Global Retinal Biologics Market has been segmented, on the
basis on drug class, into TNF-α inhibitor and VEGF-A antagonist.
On the basis of
indication, the market is segmented into macular degeneration, diabetic,
retinopathy, uveitis, and others.
On the basis of distribution channel, the market is
segmented into hospitals and clinics, pharmacies, and others.
Regional Analysis
The market has been divided, by region, into the Americas,
Europe, Asia-Pacific, and the Middle East & Africa. The retinal biologics
market in the Americas has further been branched into North America and Latin
America, with the North American market divided into the US and Canada. The
Americas is expected to be the largest market owing to the presence of a large
number of, companies providing retinal biologics such as Regeneron
Pharmaceuticals Inc. (US), Ocular Therapeutixc. (US), Spark Therapeutics (US),
and many more. Additionally, the rising
prevalence of diabetic retinopathy and the aging population supports the
retinal biologics market in this region. For instance, currently, around 12
million people of 40 years and above has a vision problem in the US. A large
number of vision problem cases and the presence of a number of manufacturing
companies drive the market growth in this region.
The European Retinal biologics market is the second-largest
market, and it has been categorized as Western Europe and Eastern Europe. The
Western European market has further been divided as Germany, France, the UK,
Italy, Spain, and the rest of Western Europe. The increasing R&D to develop
novel retinal biologics, and growing product approval boosts the market growth.
Moreover, the increasing cases of macular degeneration, diabetic retinopathy,
and uveitis among the population support market growth.
The retinal biologics market in Asia-Pacific has been
segmented into Japan, China, India, South Korea, Australia, and the rest of
Asia-Pacific. According to the World Blind Union Asia Pacific Region 2018, it
was reported that in China, more than 35 million people have some disability
out of which 17.5 million are vision impairment which includes blind people
with various disabilities. The increasing geriatric population will lead to an
increase in age-related macular degeneration which will, in turn, increase the
patient population.
The retinal biologics market in the Middle East & Africa
has been divided into the Middle East and Africa. The growing number of
research laboratories in this region drives market growth. The increasing
adaption of innovative treatment methods drives the market growth.
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