Home > Healthcare & Medical Devices > Retinal Biologics Market
Retinal Biologics Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032
- Report ID: GMI4429
Retinal Biologics Market size is predicted to showcase tremendous expansion during the forecast period of 2023-2032 due to the rising occurrence of eye-related disorders. Cases of eye diseases, such as age-related macular degeneration (AMD) are growing at a considerable rate across the world. Almost 20 million U.S. citizens suffer from some type of AMD. This has increased the risk of vision impairment, thereby elevating the demand for reliable treatment options, such as retinal biologics. Retinal biologics is an emerging medication method that targets specific markers in the patient’s body to decrease their chances of contracting various retinal disorders.
The growing focus of companies toward intensifying their R&D efforts in retinal therapeutics is one of the major factors influencing the retinal biologics market trends during the forecast timeline. These organizations are taking important steps to secure the approval of prominent regulatory bodies, such as the U.S. Food and Drug Administration (FDA) for new retinal biologic products.
Based on indication, global retinal biologics industry is segmented into macular degeneration, uveitis, diabetic retinopathy, and others. The industry value from the diabetic retinopathy (DR) segment is poised to record an appreciable increase by 2032. The rapid expansion of the diabetic population is one of the key factors driving the prevalence of DR across the globe. The International Diabetes Federation (IDF) estimates that the number of adults living with diabetes will reach 783 million by 2045. Consequently, it may increase the risk of DR, which is one of the most common causes of vision loss among individuals suffering from diabetes. These factors are predicted to expedite retinal biologics market progress.
Based on distribution channel, the retinal biologics industry is bifurcated into hospitals, pharmacies, specialty clinics, and others. The market revenue from the hospital segment is anticipated to register a notable CAGR through 2032. Hospitals have a wide range of advanced therapeutics available at their disposal, which can play a key role in enhancing a patient’s surgical outcome. Many leading hospital chains have introduced retinal biologic solutions to effectively treat a variety of eye diseases. For example, Max Hospital launched its Max Institute Eye Care (MIEC), an advanced eye care center in South Delhi, India to offer futuristic technologies and treatments for different eye diseases. Such developments are encouraging more patients to visit hospitals for regular eye checkups, thereby bolstering the market outlook.
Europe retinal biologics market is projected to display robust gains during the analysis period as the cases of diabetes are increasing in countries, such as the U.K.
This growing incidence rate of diabetes is triggering a rise in the prevalence of retinal disorders, further improving the adoption of retinal biologics.
Some of the major organizations operating in the retinal biologics market include Janssen Pharmaceuticals (Johnson & Johnson), Novartis AG, Regeneron, and OncoGene Pharmaceuticals, among others. These companies are implementing different strategies, such as partnerships and new product progression to expand their market presence.
What Information does this report contain?
