High Demand for Retinal Biologics Anticipated as Incidences of Diabetic Retinopathy Increase: FMI Survey
Retinal diseases are a significant concern among millions of people worldwide. According to the Centers for Disease Control and Prevention (CDC), around 1.8 Million people are affected with age-related macular degeneration (AMD) and 7.3 Million are at a high risk of loss of vision. Diabetic retinopathy, a disease that leads to blindness, is another prime concern among the aging and diabetic population. Thus, increasing aging and diabetic populations have been prominently contributing to the growth of the retinal biologics market. Apart from this, increase in healthcare expenditure and adoption to new technologies are also expected to drive the global retinal biologics market during the forecast period. According to the latest report published by the company, the global retinal biologics market is projected to account for over US$ 41,919 Mn, in terms of value, by 2028 end. The report further projects that the retinal biologics market is expected to grow at an average CAGR of 11.1% through 2028.
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Diabetic Retinopathy (DR) is the leading cause of vision loss among adults of 20-74 years of age. It a common cause of bilateral vision loss. Changes in diet and lifestyle have led to an increase in the prevalence of DR. According to a report by the American Academy of Ophthalmology published in 2016, 93 Million people are affected by DR worldwide. Anti-VEGF and TNFα inhibitor are commonly used to treat diabetic retinopathy. Vascular endothelial growth factor (VEGF) has the potential to accelerate the process of vascular proliferation and regress DR with anti-VEGF treatment. Growing prescription of anti-VEGF has been driving the growth of the retinal biologics market. A number of manufacturers are focusing on developing drugs with anti-VEGF inhibitor, which in turn has been translating to an increase in the demand for retinal biologics.
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North America to Hold Substantial Revenue Share in the Global Retinal Biologics Market
North America is a prominent region the global retinal biologics market. Visual impairment and blindness are key concerns in North America and the North America retinal biologics market is estimated to create an incremental $ opportunity worth US$ 12,702 Mn between 2018 and 2028. Eylea and Lucentis, marketed by Regeneron and Roche in the United States, are the commonly prescribed biologics. The North America region holds a significant share among all other regions, due to the increase in the number of healthcare facilities, growth in the adoption of new and expensive drugs and easy availability of biologics.
Retinal Biologics Market: Segmental Analysis
The global retinal biologics market has been segmented on the basis of drug class, indication and distributional channel. On the basis of drug class, the retinal biologics market has been segmented into VEGF-A antagonist and TNF-α inhibitor. Based on indication, the retinal biologics market has been segmented into macular degeneration, diabetic macular edema, diabetic retinopathy, uveitis and others. In terms of revenue, the VEGF-A antagonist retinal biologics segment is expected to hold a major share during the forecast period as VEGF-A antagonist prevents angiogenesis. On the basis of distributional channel, the retinal biologics market has been segmented into institutional sales and retail sales. The institutional sales segment in retinal biologics is expected to register high revenue growth, owing to the increasing usage of biologics in hospitals and clinics for the treatment of retinal diseases.
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Retinal Biologics Market: Companies
The report tracks some of the key companies operating in the retinal biologics market, such as Spark Therapeutics, Inc., F. Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals, Inc., AbbVie Inc., Johnson & Johnson Services, Inc., and Amgen Inc.