With the emergence and long-term Impact of COVID-19, Global Retinal Biologics Market to reach USD XX Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Retinal Biologics Market is poised to raise up to USD XX Billion by 2030 Retinal biologics are specialized treatments for retinal diseases that employ biological substances such as proteins, antibodies, gene therapy, or cell-based therapies. These innovative therapies target specific pathways involved in conditions such as age-related macular degeneration, diabetic retinopathy, and retinal vein occlusion Derived from living organisms such as proteins or antibodies, these biologics are meticulously designed to target precise molecules or processes implicated in retinal diseases. By homing in on the underlying mechanisms, they offer targeted therapies that surpass conventional approaches in efficacy.
Administered primarily through intravitreal injections, the delivery method ensures direct application of the medication into the eye, optimizing treatment precision and efficacy. The Retinal Biologics Market is expanding because of factors such as the rising number of FDA approvals, increasing healthcare expenditure, coupled with the growing aging population. The Retinal Biologics Market is poised for growth due to the introduction of diverse drug products aimed at treating retinal diseases, which is fostering increased competition in the market.
Geographically, the global Retinal Biologics market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the increasing R&D activities and the growing number of FDA approvals. The market in this region is expected to witness further growth, supported by the presence of major players. Moreover, key stakeholders in the region are implementing various strategies such as acquisitions, product launches, and partnerships to fortify their positions. For instance, in June 2020, Novartis announced the U.S. FDA’s approval for a label update for Beovu, which includes the addition of a subsection dedicated to retinal vasculitis or retinal vascular occlusion under ‘Warnings and Precautions’.
Similarly in September 2021, the U.S. FDA approved the first biosimilar, Byooviz, for the treatment of macular degeneration disease. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The increasing prevalence of retinal diseases, the growing burden of the diabetic population, as well as advancements in biotechnology and drug development, are significantly propelling the market demand across the region.
The global Retinal Biologics market is highly competitive owing to the presence of several key market players such as F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc., AbbVie Inc., MeiraGTx Limited, Oxurion NV, Novartis AG, GenSight Biologics S.A., and others.
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Key findings of the study suggest:
- Global Retinal Biologics Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Drug Class segment, VEGF-A Antagonist emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the increasing R&D activities and the growing number of FDA approvals. The market in this region is expected to witness further growth, supported by the presence of major players.
- Asia-Pacific is expected to grow at higher rate followed by North America during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
Drug Class:
- VEGF-A Antagonist
- TNF-a Inhibitor
Disease Indication:
- Macular Degeneration
- Diabetic Retinopathy
- Uveitis
- Other Disease Indications
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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