The global retinal biologics market size was valued at USD 23.18 billion in 2023 and is expected to grow from USD 25.02 billion in 2024 to around USD 49.67 billion by 2033, at a CAGR of 7.92% during the forecast period 2023-2033.
The retinal biologics market is anticipated to expand in the coming years due to the increasing prevalence of retinal disease and advancements in biotechnology.
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Report Highlights:
· North America dominated the retinal biologics market in 2023.
· Asia Pacific is anticipated to grow at the fastest CAGR during the forecast period.
· The VEGF-A antagonist segment led the market in 2023 by drug class.
· The macular degeneration segment held the largest market share by indication in 2023.
· The hospital pharmacies segment was the largest distribution channel in 2023.
Retinal biologics market at glance
The retinal biologics market is a specialized segment of the healthcare industry focused on developing and providing biologics therapies for the treatment of retinal diseases. The diseases, which affect the retina- the light-sensitive layer at the back of the eye- can lead to vision impairment and even blindness if not properly treated. Retinal biologics are designed to address the underlying biological mechanisms of these conditions, offering advanced therapeutic options beyond traditional treatments.
Retinal diseases, such as age-related macular degeneration (AMD), diabetic retinopathy, and retinal vein occlusion, are prevalent conditions that can severely impact a person’s quality of life. The need for effective treatments has driven significant research and development in the field of retinal biologics. These therapies are typically derived from living organisms and are designed to mimic or influence biological processes to treat retinal diseases at a molecular level.
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Growing Awareness About Retinal Diseases Drives the Market Growth
Increasing awareness of retinal diseases is a significant factor driving the growth of the retinal biologics market. Public health campaigns and educational initiatives have played a crucial role in informing people about the risks and symptoms associated with retinal conditions. As a result, more individuals are now recognizing the importance of early diagnosis and treatment.
For instance, organization like the American Academy of Ophthalmology and the National eye institute have launched various awareness programs. These initiatives aim to educate the public about common retinal diseases such as age- related macular degeneration (AMD) and diabetic retinopathy.
- A recent example highlighting the impact of awareness campaigns is the “Eye Health Awareness Month” observed in September 2023. During this month, numerous activities were organized to spread knowledge about eye health, emphasizing the significance of regular eye check- ups.
The Promise of Gene Therapy and Gene Editing in Retinal Biologics
Gene therapy and gene editing are groundbreaking technologies that offer immense potential for treating retinal diseases at their root cause. These innovative approaches have the ability to reverse vision loss or prevent its onset, making them a significant driver for the growth of the retinal biologics market.
Gene therapy involves introducing or altering genetic material within a patient’s cells to treat or prevent disease. In the context of retinal diseases, this can mean correcting genetic defects that lead to conditions like retinitis pigmentosa or Leber congenital amaurosis. For example, Luxturna, a gene therapy approved by the FDA in 2017, targets a specific mutation in the RPE65 gene and has shown remarkable success in improving vision for patients with this mutation.
A recent example of progress in this field is a study published in 2023, where researchers successfully used CRISPR to correct a genetic mutation causing retinitis pigmentosa in a mouse model. This breakthrough brings hope that similar treatments could be developed for humans, offering a potential cure for this debilitating condition.
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Limited Awareness, Key Restraint for the Market
One significant barrier to the growth of the retinal biologics market is the limited awareness of retinal diseases and their appropriate treatment options. Despite advances in medical science and technology, many healthcare professionals, especially those not specializing in ophthalmology, lack adequate knowledge about these conditions. This lack of awareness can result in underdiagnosis or misdiagnosis of retinal diseases, ultimately leading to missed opportunities for the effective use of retinal biologics.
For example, diabetic retinopathy and age-related macular degeneration (AMD) are two common retinal conditions that can benefit significantly from timely intervention with biologics.
A recent study highlighted that many general healthcare providers are not fully informed about the latest retinal biologics and their benefits. This gap in knowledge means that even when patients are diagnosed with retinal diseases, they might not receive the most effective, cutting-edge treatments available.
Product Pipeline Expansion, an Upcoming Opportunity for the Market
One of the most promising opportunities for the retinal biologics market is the ongoing expansion of product pipelines by pharmaceutical companies. These companies are diligently working on developing novel retinal biologics that promise improved efficacy and reduced side effects. This concerted effort is set to significantly expand treatment options and open new market opportunities.
The development of new biologics is a complex and rigorous process that involves extensive research and multiple phases of clinical trials. Despite the challenges, the potential benefits are immense. For instance, several innovative drugs are currently in various stages of clinical trials, aiming to provide more effective treatments for conditions like age-related macular degeneration (AMD) and diabetic retinopathy.
- One notable example is the development of faricimab, a novel bispecific antibody designed to inhibit both angiopoietin-2 (Ang-2) and vascular endothelial growth factor-A (VEGF-A). This dual inhibition is expected to offer superior outcomes for patients with retinal diseases.
North America to Sustain as a Leader in the Retinal Biologics Market
North America continues to dominate the retinal biologics market, driven by its advanced healthcare infrastructure and significant investment in research and development. The United States, in particular, leads the region with substantial funding allocated to healthcare and technological innovations. The aging population and high prevalence of retinal diseases like age-related macular degeneration (AMD) and diabetic retinopathy further bolster market demand. For instance, the U.S. Census Bureau projects a substantial increase in the elderly population, which is likely to amplify the demand for effective retinal treatments.
Europe is another major player in the retinal biologics market. Countries like Germany, the United Kingdom, and France are at the forefront due to their strong healthcare systems and robust pharmaceutical industries. Germany, for example, is home to several leading pharmaceutical companies like Bayer AG, which are actively involved in developing and marketing retinal biologics.
Asia Pacific on to Grow at a Rapid Rate
The Asia Pacific region is expected to grow at the fastest rate during the forecast period. This rapid growth is attributed to the region’s large and aging population, increasing healthcare expenditure, and improving healthcare infrastructure. China and India are key markets due to their significant population sizes and rising prevalence of retinal diseases.
In India, the healthcare sector is evolving rapidly, with increasing investments from both the government and private sectors. The recent launch of biosimilars and novel biologics is making advanced treatments more accessible to a broader population. For instance, Pune-based Enzene Biosciences introduced Ranibizumab, a biosimilar for the treatment of neovascular AMD, enhancing treatment options for patients.
By Drug Class, the VEGF-A Antagonist Segment Dominated the Market in 2023
The VEGF-A antagonist segment dominates the retinal biologics market. These drugs are highly effective in treating retinal diseases by inhibiting vascular endothelial growth factor, which helps reduce abnormal blood vessel growth and leakage in the retina. Medications like Aflibercept and Ranibizumab have significantly improved outcomes for patients with conditions such as age-related macular degeneration (AMD) and diabetic retinopathy.
By Indication, the Macular Degeneration Segment Accounted for the Largest Share
Macular degeneration is the leading indication in the retinal biologics market. This condition primarily affects older adults and leads to loss of central vision. The increasing aging population globally has driven the demand for effective treatments. Retinal biologics, particularly VEGF-A antagonists, have been pivotal in managing this disease, significantly improving patients’ quality of life by slowing the progression of vision loss.
By Distribution Channel, the Hospital Pharmacies Segment Held the Largest Share
Hospital pharmacies hold the largest share in the distribution channel for retinal biologics. These pharmacies are crucial as they handle the storage and distribution of biologics, ensuring that patients receive the correct medications. Given the complexity and cost of retinal biologics, hospital pharmacies are better equipped with the necessary infrastructure to manage these treatments safely and effectively.
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Major Breakthroughs in the Retinal Biologics Market:
· In March 2024, Roche launched Vabysmo (faricimab) in India for treating wet age-related macular degeneration (nAMD) and diabetic macular edema (DME). This launch strengthens Roche’s.
· In August 2023, Regeneron Pharmaceuticals received FDA approval for EYLEA HD (aflibercept) injection 8 mg for treating wet age-related macular degeneration (wAMD), diabetic macular edema (DME), and diabetic retinopathy (DR). This approval expands treatment options for patients with these conditions.
· In September 2023, Positive results were reported for OCU400, a gene therapy candidate, in treating Leber congenital amaurosis (LCA) caused by CEP290 gene mutations, as well as Retinitis Pigmentosa (RP) associated with NR2E3 and Rhodopsin (RHO) mutations. This advancement holds promise for future gene therapy applications in retinal diseases.
· In March 2024, Biocon Biologics, a subsidiary of Biocon, announced a formal settlement with Biocon Bayer and Regeneron Pharmaceuticals. This agreement permits the sale of Yesafili, a biosimilar of EYLEA (aflibercept) Injection, in Canada. According to the terms, Biocon Biologics must launch Yesafili by July 1, 2025.
· In January 2024, Sandoz and Coherus BioSciences finalized a deal involving an upfront cash payment of $170 million for the biosimilar ranibizumab Cimerli (ranibizumab-earn). The agreement encompasses proprietary commercial tools, product inventory, ophthalmology sales and reimbursement personnel, and a biologics license application.
Top Companies in the Retinal Biologics Market:
· Novartis AG
· Roche
· AbbVie Inc.
· Amgen Inc.
· Regeneron Pharmaceuticals Inc.
· Santen Pharmaceutical Co., Ltd
· Pfizer Inc.
· Merck & Co Inc.
· Bayer AG
· Teva Pharmaceutical Industries Ltd.
· Kodiak Sciences Inc.
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