The Global Retinal Biologics Market Size Is Expected To Reach $20.7 Billion By 2030, Rising At A Market Growth Of 5.4% Cagr During The Forecast Period

(MENAFN- GlobeNewsWire - Nasdaq) New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- Reportlinkerannounces the release of the report "Global Retinal Biologics market Size, Share & industry Trends Analysis Report By Indication, By Drug Class, By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2030" -
For example, By 2050, there will be about 1.5 billion people on the planet, a rise of more than three times the current population. Additionally, it is anticipated that by this time, 16.0% of people will be over the age of 60 worldwide. One out of every six people will be 65 or older by the middle of the twenty-first century. The global increase in the number and prevalence of older people is known as the "population aging phenomenon." In 2019, there were 703 million people worldwide who were 65 or older. People 65 and over made up 9% more of the population in 2019 than they did in 2018. Some of the factors impacting the market Technological advances aiding in the development of retinal biologics, Rising prevalence of retinal and eye issues, and longer time periods for drug approval.
Retinal biologic products have undergone technological breakthroughs that have improved their safety and effectiveness profiles, which has led to a rise in patient uptake across the globe. Significant R&D expenditures and business partnerships among market players are advantagefor developing retinal biology. The technical advances place a strong foon research and development (R&D) pertaining to retinal gene treatments conducted by variinstitutes, biologics firms, and innovative product launches by key players in the form of implants and biologics. Additionally, Because of the increasing number of initiatives taken by varihealthcare organizations, governmental entities, and industry actors, there is a greater awareness among the general public about ocular problems, which is leading to a higher diagnostic and treatment rate in the population. Concern regarding diabetic retinopathy has grown as more adults with type I and type II diabetes are losing their vision as a result of the disease. Thus, technological improvements in retinal biologics products and increasing prevalence of ocular issues will augment the expansion of the market in the coming years.
However, a number of pricey regulatory approvals and research phases are necessary for drug approval. The process of approving a medicine involves several phases of regulatory agency screening, including about four clinical trial steps. The costs of failing studies are high because clinical trial phases need large investments. For instance, according to a Forbes article, a medication producer invests approximately $350 million in each therapy before it is put on the market. Long wait times also cost these producers money, which hinders the expansion of the market. Furthermore, workflows in the healthcare industry were affected globally by the COVID-19 pandemic. Several areas of the healthcare sector, as well as several other industries, temporarily closed their doors due to the sickness. The COVID-19-led worldwide economic slowdown caused a drop in the market in 2020. The pandemic also caused supply chains in several end-user industries to fall, including the pharmaceutical, healthcare, and industrial sectors. This limited the market and impacted the release of innovative medicines.
Indication Outlook
Based on indication, the market is categorized into macular degeneration, diabetic retinopathy, and others. The macular degeneration segment procured the highest revenue share in the market in 2022. Retinal biologics can help maintain eyesight and stop additional vision loss in people with macular degeneration by lowering inflammation in the retina and limiting the formation of aberrant blood vessels. Biologics used early and effectively can sometimes stabilize or even improve vision. The frequency of injections or treatments is decreased by some retinal biologics' extended-release formulations.
Drug Class Outlook
On the basis of drug class, the market is segmented into VEGF-A antagonist and others. The others segment recorded a significant revenue share in the market in 2022. The other segment mostly includes biologics developed from TNF-?. The pro-inflammatory cytokine tumor necrosis factor-alpha (TNF-?) is generated by macrophages and T-cells. It is significant in both inflammation and apoptosis. TNF-? is considered part of developing inflammatory, edematous, neovascular, and neurodegenerative illnesses in the eye.
Distribution Channel Outlook
Based on distribution channel, the market is divided into hospital pharmacy, online pharmacy, and retail pharmacy. The online pharmacy segment procured a considerable growth rate in the market in 2022. One of the key factors influencing the segment's growth is the increasing number of patients visiting ophthalmology clinics for the treatment of varieye conditions. In both established and developing nations, there are more and more people using the internet, and patients are increasingly choosing to buy their drugs online.
Regional Outlook
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region recorded the largest revenue share in the market in 2022. The existence of numersignificant players, including Bayer AG, and Novartis AG, as well as developments in the production of retinal biologics, are driving the market's expansion. Additionally, easier access to retinal biologics medications and greater public awareness of the importance of early detection and treatment are key factors driving market expansion in this region. In addition, a strong network of hospitals, clinics, and research institutions makes up the healthcare infrastructure. This infrastructure aids in the creation, use, and study of retinal biology.
Strategies deployed in Retinal Biologics Market
Jul-2023: Bausch + Lomb acquired the Blink over-the-counter (OTC) line of eye drops from Johnson & Johnson Vision. The acquisition expanded the former company's portfolio of OTC eye care products and the addition would enable the company to provide enhanced convenience to consumers.
May-2023: Bausch + Lomb, the eyecare division of Bausch Health, received approval from the U.S. Food and Drug Administration for Miebo drops for dry eye disease. The medication fills a sizable gap in patient care as it is the only FDA-approved treatment to specifically target tear evaporation.
Feb-2023: AbbVie extended its collaboration with Capsida Biotherapeutics, a fully integrated next-generation gene therapy platform company, for developing genetic medicines for eye problems. Capsida's cutting-edge adeno-associated vi(AAV) engineering platform and manufacturing expertise will be integrated with AbbVie's comprehensive capabilities to identify and advance three candidates.
Aug-2022: Bausch + Lomb partnered with Munich Surgical Planning (MSI), a subsidiary of Heidelberg Engineering. To meet the rising demand for digital microscopy, this partnership aimed to bring together Bausch + Lomb's surgical expertise in the cataract, refractive, and vitreoretinal space with MSI's visualization and image guidance expertise, including an integrated high-speed SSOCT powered by Heidelberg Engineering.
Jul-2022: Roche came into partnership with Avista Therapeutics, a company focused on developing innovative gene therapies for retinal diseases, for developing novel AAV gene therapy vectors for eyes. The partnership aimed to use Avista's single-cell adeno-associated viengineering (scAAVengr) platform technology to create intravitreal AAV capsids that fit a capsid profile specified by Roche. Moreover, Roche is in charge of conducting preclinical, clinical, and commercialization activities for gene therapy programs using these novel capsids, which is different from Avista's internal pipeline. Roche will also have the right to evaluate and license novel capsids from Avista.
Feb-2022: Roche received the U.S. Food and Drug Administration approval for Vabysmo (faricimab-svoa) for the treatment of neovascular Diabetic Macular Edema (DME) and Age-related Macular Degeneration (nAMD). Vabysmo neutralizes the disease-related proteins angiopoietin-2 (Ang-2) and vascular endothelial growth factor-A (VEGF-A), which are associated with a range of retinal disorders that can impair vision.
Jan-2022: AbbVie got the U.S. Food and Drug Administration (FDA) approval for RINVOQ® (upadacitinib). This medication is indicated for the treatment of moderate to severe atopic dermatitis in children 12 years of age and above and adults.
Dec-2021: Novartis signed an agreement to acquire Gyroscope Therapeutics, a clinical-stage gene therapy company. Through this acquisition, Novartis would achieve access to the prior guide experimental gene treatment, GT005.
Mar-2021: Roche signed a collaboration and licensing agreement with SemaThera, a company focused on creating novel therapies for retinopathies. The partnership was focused on creating SemaThera's exciting new class of biologicals for the management of ischemic retinal disorders, such as diabetic retinopathy.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Amgen, Inc., AbbVie, Inc., Bayer AG, Regeneron Pharmaceuticals, Inc., Santen Pharmaceutical Co., Ltd., Bausch Health Companies, Inc., F. Hoffmann-La Roche Ltd., MeiraGTx Holdings plc and Oxurion NV.
Scope of the Study
Market Segments covered in the Report:
By Indication
. Macular Degeneration
. Diabetic Retinopathy
. Others
By Drug Class
. VEGF-A Antagonist
. Others
By Distribution Channel
. Hospital Pharmacy
. Retail Pharmacy
. Online Pharmacy
By Geography
. North America
o US
o Canada
o Mexico
o Rest of North America
. Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
. Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
. LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
. Novartis AG
. Amgen, Inc.
. AbbVie, Inc.
. Bayer AG
. Regeneron Pharmaceuticals, Inc.
. Santen Pharmaceutical Co., Ltd.
. Bausch Health Companies, Inc.
. F. Hoffmann-La Roche Ltd.
. MeiraGTx Holdings plc
. Oxurion NV
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