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Retinal Biologics Market Expected to Grow With a CAGR of 7.3% During the Forecast Period 2021-2026

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Retinal Biologics Market Expected to Grow With a CAGR of 7.3% During the Forecast Period 2021-2026

July 26
20:03 2021
Retinal Biologics Market Expected to Grow With a CAGR of 7.3% During the Forecast Period 2021-2026

Retinal Biologics Market
Increasing Prevalence of Age-related Macular Degeneration (AMD) and Diabetes Coupled With Rising Ageing Population Are Major Factors Driving the Growth of Retinal Biologics Market

Retinal Biologics Market size was estimated at $14 billion in 2020 and is expected to grow with a CAGR of 7.3% during the forecast period 2021-2026. Retinal Biologics are bioengineered molecules which implement inside eyes to heal chronic retinal diseases. Retina is a sensitive part of human eyes that receive light and convert light into neural signals and send these signal to brain for visual recognition. There are several disorders related to retinal health including macular degeneration, diabetic retinopathy, infectious retinitis, macular edema, macular hole, retinoblastoma, retinal degeneration, retinoschisis and uveitis etc. Increasing prevalence of age-related macular degeneration (AMD) and diabetes coupled with rising ageing population are major factors driving the growth of the market. Moreover, growing demand for Retinal Biologics to provide treatment for chronic retinal diseases further enhance the overall market demand for Retinal Biologics during the aforesaid period.

Retinal Biologics Market Segment Analysis- By Drug Class

Based on the drug class, Retinal Biologics Market is segmented into VEGF-A Antagonist, TNF-a Inhibitor. The TNF-a Inhibitor segment is estimated to dominate the market during the period 2021-2026. This is attributed to its wide use in stopping inflammation and treating diseases such as Macular Degeneration, Uveitis, retinoblastoma. Furthermore, TNF-a inhibition repairs retinal damage and increases corneal wound healing. The VEGF-A Antagonist, segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 6.1% during the period 2021-2026. This is mainly owing to VEGF-A Antagonist are largely tolerated and gives instant result to eye disorders.

Retinal Biologics Market Segment Analysis- By Disease Indication

Based on the disease indication, Retinal Biologics Market is segmented into Macular Degeneration, Diabetic Retinopathy, Uveitis, and Others. In 2020, Diabetic Retinopathy is estimated to hold major share in the market. This is mainly since diabetic retinopathy is the leading cause of vision loss globally. Moreover, according to, the International Diabetes Federation, extremely consequences diabetes mellitus is increasing from 463 million in 2019 to 700 million in 2045 also contributing to the dominance of this segment. Also, Macular Degeneration is projected to grow with a CAGR of 6.5% over the period 2021-2026. This is owing to it being a leading cause of severe, or permanent vision loss among people over the age of 60.

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Retinal Biologics Market Segment Analysis- By Geography

North America dominated the Retinal Biologics market share accounting for 41% of the market in 2020. This is mainly owing to increasing prevalence of diabetes in this region. According to, Centers for Disease Control and Prevention (CDC), in U.S. more than 100 million adults are suffering from diabetes or prediabetes. However, the Asia-Pacific region is projected to be the fastest-growing over the period 2021-2026. This is owing to rising expenditure on healthcare coupled with rising ageing population.

Retinal Biologics Market Drivers

Increasing Prevalence of Diabetes and Macular Degeneration (AMD)

Increasing prevalence of diabetes and macular degeneration (AMD) across the globe is driving the growth of Retinal Biologics market. According to, World Health Organization (WHO), in worldwide around 422 million people living with diabetes and 1.6 million death cause by diabetes. Moreover, According to, American Academy of Ophthalmology, around 1.5 million North American people suffering from macular degeneration (AMD) is also set to increase the market growth.

Rising Research and Development

Increase in research and development of advanced technology for Retinal Biologics is also driving the market. New product development and innovation in formulations and drug designing in retinal biologics for instance, in 2019, Ocugen, Inc., partnered with CanSino Biologics for development of product based on gene therapy for treatment of inherited retinal diseases. Also, advanced drug formulations such as adoption of VEGF-A antagonist class of drugs is also set to the growth of Retinal Biologics Market.

Retinal Biologics Market Challenges

Side effect of Retinal Biologics cause retinal tear, illness, and eye pain is challenging the market. Along with this, high initial investment and stringent regulatory processes are also further challenging the growth of the market.

COVID-19 Impact

Moreover, the outbreak of COVID-19 around the world has impacted all industries including healthcare industry. Covid- 19 affects the Retinal Biologics market including drastic reduction in demand owing to lack of visits to healthcare facilities such as hospitals and clinics. Also the widespread of coronavirus has affected workforce and staffing, creating procedural prioritisation. These affect Retinal Biologics market by cancellation of scheduled visit for medical care at hospitals for patient concerns.

Retinal Biologics Market Industry Outlook

Product launches, Merger & Acquisitions, Joint Ventures and R&D activities are key strategies adopted by players in the Retinal Biologics Market. Retinal Biologics top 10 companies are Oxurion NV, MeiraGTx Limited, AbbVie Inc., Regeneron Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd., Novartis International AG, Amgen, Inc., Johnson & Johnson, Spark Therapeutics and Regeneron Pharmaceuticals, Inc.

Acquisitions/Product Launches:

In September 2020, Samsung Biologics partnered with Kanaph Therapeutics to develop KNP-301, a bi-specific Fc fusion protein intended to treat retinal diseases.

In September 2019, Ocugen Inc. partnered with CanSiono Biologics for development of Ocugens’s first gene therapy product, OCU400 for treatment of inherited retinal diseases.

Key Takeaways

In 2020, North America dominated the Retinal Biologics Market owing to rising incidence of diabetes.

Increasing innovation and development in Retinal Biologics across the globe is driving the market growth of Retinal Biologics.

Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Retinal Biologics Market report.

Initial high investment and stringent regulatory process are challenging the growth of the market.

Related Reports :

A. Spine Biologics Market

https://www.industryarc.com/Report/16837/spine-biologics-market.html

B. Opthalmic Drugs & Devices Market

https://www.industryarc.com/Research/Opthalmic-Drugs-Devices-Market-Research-505982

For more Lifesciences and Healthcare Market reports, Please click here

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