ID: MRFR/Pharma/8693-HCR | January 2023 | Region: Global | 140 Pages
Retinal Biologics Market is expected to hold a value of about USD 34,891.44 Million and is projected to register a CAGR of 11.5% from 2020 to 2027.
$34,891.44 Million
11.5%
North America
2020 to 2027
Retinal Biologics Market is expected to hold a value of about USD 34,891.44 Million by 2027 and is projected to register a CAGR of 11.5% from 2020 to 2027.
Market Synopsis
Retinal biologics are bioengineered molecules that are implanted inside the eyes to heal chronic retinal diseases. There are a large number of different market player for retinal biologics that dominates the market, which includes F. Hoffmann-La Roche Ltd, AbbVie Inc., Johnson & Johnson Services, Inc., Amgen Inc. and many more. The companies are involved in launching new products, technologies, and are undergo strategic collaboration to develop healthcare produces. For instance, in October 2016, F. Hoffmann-La Roche Ltd announced that the US Food and Drug Administration (FDA) has accepted a supplemental Biologics License Application (sBLA) and granted Priority Review for Lucentis (ranibizumab injection) for the treatment of myopic choroidal neovascularization (mCNV).
Retinal Biologics Market Influencer
The increasing innovation and research activity to develop innovative biologics for eye disease treatment boosts the retinal biologics market growth.
Retinal Biologics Market Drivers
- A growing number of cases with ophthalmic disorders causing chronic retinal diseases across the globe is the primary factor driving the market growth. According to the World Health Organization, globally around 2.2 billion people are having a vision problem. The huge patient population suffering from eye problem supports the market growth.
- Increasing prevalence of retinal vein occlusion (RVO) and age-related macular degeneration. RVO is the second most common retinal vascular disorder and is a significant cause of visual impairment. Around 11 million people in the US have some form of age-related macular degeneration. This number is expected to increase to nearly 22 million by 2050.
- The growing R&D activities and product launch support retinal biologics market growth during the forecast period.
Retinal Biologics Market Restraints
Retinal Biologics Market Segmentation
By Drug Class
By Indication
By Distribution Channel
Retinal Biologics Market By Region
Key Players
Report Attribute/Metric | Details |
---|---|
Market Size | 2027: USD 34,891.44 Million |
CAGR | 11.5%(2020-2027) |
Base Year | 2019 |
Forecast Period | 2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Drug Class, Indication, Distribution Channel and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Regeneron Pharmaceuticals Inc. (US), Ocular Therapeutixc.(US), Spark Therapeutics (US), Hoffmann-La Roche Ltd (Basel, Switzerland), AbbVie Inc. (US), Johnson & Johnson Services, Inc. (US), Amgen Inc. (US), MeiraGTx Limited (US) |
Key Market Opportunities | The increasing innovation and research activity to develop innovative biologics for eye disease treatment boosts the market growth. |
Key Market Drivers | A growing number of cases with ophthalmic disorders causing chronic retinal diseases across the globe is the primary factor driving the market growth |
Global retinal biologics market is touted to record a substantial market valuation of USD 34.89 billion by 2027.
Global retinal biologics market is projected to register a moderate 11.5% CAGR in the forecast period.
The TNF-α Inhibitor segment is expected to observe substantial demand over the review period.
The hospital and clinic segment is slated to expand as the fastest-growing segment.
A few eminent market players operating in the global retinal biologics market are Johnson & Johnson Services, Inc. (US), Amgen Inc. (US), MeiraGTx Limited (US), among others.