Retinal Biologics Market Size (USD 49.67 Bn) Report by 2033

Retinal Biologics Market Size, Share and Competitive Analysis Report

The global retinal biologics market size was valued at US$ 23.18 billion in 2023 is expected to reach US$ 49.67 billion by 2033, at a compound annual growth rate (CAGR) of 7.92% from 2024 to 2033. The growing geriatric population drives the market’s growth.

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Key Takeaways

• North America dominated the retinal biologics market in 2023.
• Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
• By drug class, the VEGF-A antagonist segment dominated the market in 2023.
• By indication, the macular degeneration segment accounted for the largest retinal biologics market share in 2023.
• By distribution channel, the hospital pharmacies segment held the largest share of the market in 2023.

Industry at a Glance

The retinal biologics market is dominated by therapeutic drugs for the retina, which are used to treat conditions including diabetic retinopathy and age-related macular degeneration. Growth factors, vaccinations, immunological modulators, human blood and plasma products, and monoclonal antibodies are examples of biologics. A large class of medications produced by biotechnology from people, animals, or microbes are known as biologic drugs. Vaccines, blood, blood components, cells, allergies, genes, tissues, and recombinant proteins are only a few of the numerous varieties of biological medications. Retinal problems have been among the many therapeutic fields in which biological therapies have changed disease treatment. In addition, the results of treating neovascular retinal illnesses have improved dramatically with the use of biological treatments, which promotes the market’s growth.

Top Companies in the Retinal Biologics Market

• Santen Pharmaceutical Co., Ltd (Japan)
• AbbVie Inc. (U.S.)
• Aurobindo Pharma (India)
• Bayer AG (Germany)
• Fresenius Kabi AG (Germany)
• AstraZeneca (U.K.)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• Sun Pharmaceutical Industries Ltd. (India)
• Merck & Co Inc. (U.S.)
• Boehringer Ingelheim International GmbH. (Germany)
• Amgen Inc. (U.S.)
• Novartis AG (Switzerland)
• Pfizer Inc. (U.S.)
• Kodiak Sciences Inc. (U.S.)

Recent Launch by Santen Pharmaceutical in the Retinal Biologics Market

Recent Launch by Santen Pharmaceutical in the Retinal Biologics Market

Diabetes is Driving the Retinal Biologics Market

Diabetes-related retinopathy (DR) is a secondary condition that affects the eyes of diabetics due to high blood sugar levels. One of the most prevalent vision-related conditions, diabetic retinopathy, is becoming more and more prevalent as the number of people with diabetes rises daily. Globally, diabetes is becoming more common owing to a combination of factors, including heredity, eating disorders, physical inactivity, and bad eating habits. DR is a significant microvascular end-organ consequence of diabetes that affects 30% to 40% of all diabetics. There is a definite correlation between the growth in diabetes prevalence and the occurrence of DR.

For instance,

• According to a recent meta-analysis, there are currently 103 million cases of DR worldwide, and by 2045, that number is expected to increase to 161 million cases.

High Cost of Biologics Restraint the Retinal Biologics Market Growth

Because biologics are extremely sophisticated drugs, their cost is significant. This indicates that compared to other treatments, the processes involved in research, development, manufacture, testing, and approval are more challenging and time-consuming. They have around 25,000 atoms in them. In contrast, aspirin is a medicine that has 21 atoms in it. Furthermore, in order to generate the finished pharmaceutical product, scientists must cultivate, replicate, extract, and purify the chemicals in a lab because they are derived from living things. This implies that biological batches are not all the same. Manufacturers have to make sure that every batch operates uniformly and has a consistent impact on every patient, which increases complexity and expenses. The cost of creating and producing novel therapeutic and biological medications can approach $1.1 billion.

Personalized Medicines/Treatment Hold Great Potential for the Retinal Biologics Market

The phrase "personalized medicine" refers to a broad range of techniques that are used to customize healthcare to meet the requirements of specific individuals. It may result in less need for trial-and-error methods and may prevent the need for needless therapies, which might lead to more successful treatments for ophthalmology patients. Additionally, healthcare systems may save money as a result of this. It's crucial to use diagnostic methods that enable thorough individual evaluation. Among the methods employed are translational research and next-generation sequencing. Trials for gene therapy-based treatments for ocular conditions such as age-related macular degeneration and retinitis pigmentosa have been presented. The field of ophthalmic research has recently seen a rise in the discussion of wearable technologies and machine learning due to the rapid growth of artificial intelligence and multidisciplinary collaboration. It is possible that novel approaches to customized ophthalmology may emerge.

Report Highlights

Drug Class Insights

By drug class, the VEGF-A antagonist segment dominated the retinal biologics market in 2023. For the past ten years, VEGF-A monotherapy has been the cornerstone of treatment for retinal neovascular disorders. For retinal illnesses, bevacizumab (IVB), ranibizumab (IVR), aflibercept (IVA), brolucizumab (IVBr), and faricimab are among the available intravitreal anti-VEGF medicines. The most recently licensed bispecific antibody, faricimab, targets VEGF-A and angiopoietin-2 (Ang-2) exclusively among these treatments. It has been demonstrated that these medications can lessen vascular leakage and proliferation and enhance eyesight in anywhere between 50 and 95 percent of cases.

Indication Insights

By indication, the macular degeneration segment accounted for the largest retinal biologics market share in 2023. An increase in cataract cases has been predicted as a result of an aging population, particularly in individuals over 70. In addition, alterations in their way of life and exposure to outside elements (such as winds, low humidity, and air pollution) could raise the proportion of individuals experiencing symptoms of dry eyes or ocular irritation. Reducing the worldwide burden of eye disorders requires a high level of public awareness of prevalent eye diseases. A major advancement in the creation of biologics for the treatment of ocular neovascular disorders is anti-VEGF therapy.

For instance,

• In November 2023, Ranibizumab was introduced by Enzene Biosciences as a therapy for neovascular AMD. Ranibizumab, a biosimilar of the famed drug Lucentis, which is sold under the Indian brand Accentrix, has been introduced by Pune-based Enzene Biosciences, the same company that initially developed bevacizumab to treat metastatic colorectal cancer.

Distribution Channel Insights

By distribution channel, the hospital pharmacies segment held the largest share of the retinal biologics market in 2023. One of the most important hospital departments that handles the manufacture, testing, packing, distribution, compounding, storage, and dispensing of medications is the pharmacy. Hospital pharmacy significantly affects how much healthcare expenditures cost. In today's hospital pharmacy, drug information and monitoring services are combined. Medication purchases, storage, handling, pricing, and dispensing are all within the competency of the hospital pharmacist. In addition, pharmacists serve as liaisons between the patient and the doctor by giving medication information to the general public and other healthcare professionals. Specifications for buying pharmaceuticals, chemical, and biological medicines, etc., are provided by hospital pharmacists. Hospital pharmacists also assist with hospital research programs and provide drug monitoring services for inpatients.

Regional Insights

North America dominated the retinal biologics market in 2023. The region is known for its technological advancements and healthcare infrastructure, which are supported by governments and public and private investments. The major countries that contribute to the market’s growth in North America are the U.S. and Canada.

The healthcare infrastructure and continuous research and development are the pillars of the retinal biologics market growth in the U.S. The average growth rate of the NHE (National Health Expenditure) in the U.S. (5.6%) is expected to exceed the average growth rate of the GDP (4.3%) between 2023 and 2032. This will lead to a rise in the percentage of GDP devoted to health spending from 17.3 percent in 2022 to 19.7 percent in 2032. In 2023, NHE expenditure is predicted to have increased by 7.5%, outpacing the 6.1% GDP growth rate. Aside from this, the nation deals with chronic condition-related health challenges. The U.S. has the highest rate of persons with multiple chronic diseases, according to the Commonwealth Fund. A further aspect influencing the usage of retinal biologics is the aging population, which is more prone to macular degeneration and diabetic retinopathy.

For instance,

• Forecasts from the U.S. Census Bureau indicate that the population of Americans aged 100 and older would more than triple over the next three decades, from an anticipated 101,000 in 2024 to nearly 422,000 in 2054. In the United States, the percentage of centenarians is now at 0.03%, but by 2054, that percentage is predicted to be 0.1%.
• Over 54% of Americans who are legally blind have AMD (Age-related Macular Degeneration), which is the primary cause of visual loss. The macula deteriorates with age, which is the cause of AMD, which is common in persons 50 years of age and older. According to estimates, AMD costs the US economy $30 billion a year.
• By 2050, there will likely be 16.0 million diabetic retinopathy patients in America, of which 3.4 million will have vision-threatening problems.

Asia Pacific is expected to grow at the fastest CAGR during the forecast period. The countries in the Asia Pacific region are showcasing advancements in healthcare infrastructure and medical science. Governments in these countries are contributing financially to the development of the healthcare industry.

For instance,

• According to the National Bureau of Statistics of China, China has 39 thousand hospitals among its 1.071 million medical and health facilities by the end of 2023. A total of 1.016 million medical and health facilities were found at the local level, comprising 34,000 town and township health centers, 37,000 community health service centers, 362,000 clinics, and 583,00 village clinics. Out of the twelve thousand professional public health establishments, 2,791 were health monitoring establishments, and 3,426 were centers for disease control and prevention. China had 12.47 million medical technical workers by the end of 2023, comprising 5.63 million registered nurses, 4.78 million licensed physicians, and licensed assistant physicians. 9.56 billion medical visits and 0.3 billion hospital discharges were recorded in 2023, respectively.

The two major disorders associated with the retina are age-related, and Asia Pacific has two of the most populated countries, China and India. Among the top five countries with the oldest population are China, India, Japan, and Thailand, which all belong to the Asia Pacific region. The growing old age population demands biologics as an ultimate solution, which promotes the growth of the retinal biologics market.

For instance,

• There were 254 million older adults 60 years of age and older and 176 million older adults 65 years of age and older as of 2019. 402 million individuals, or 28% of the population, are predicted to be over 60 by 2040 in China.

Recent Developments in the Retinal Biologics Market

• In March 2024, a settlement between Biocon Bayer and Regeneron Pharmaceuticals was formally announced by Biocon's subsidiary Biocon Biologics. The planned biosimilar of the EYLEA (aflibercept) Injection, Yesafili, may now be sold in Canada thanks to this agreement between Biocon Biologics and the government. As per the agreement, Biocon Biologics is required to introduce Yesafili by July 1, 2025, at the latest.
• In January 2024, Sandoz and Coherus BioSciences agreed to an upfront cash purchase price of $170 million for the biosimilar ranibizumab Cimerli (ranibizumab-earn). This includes access to proprietary commercial tools, a product inventory, sales and reimbursement personnel for ophthalmology, and an application for a biologics license.
• In September 2023, OCU400's safety and efficacy in treating Leber congenital amaurosis (LCA) caused by mutations in the CEP290 gene, as well as Retinitis Pigmentosa (RP) associated with NR2E3 and Rhodopsin (RHO) mutations, have been assessed. An update on these clinical trials for RP patients enrolled in the Phase 1/2 study has been made public by Ocugen, Inc. This clinical study update, which is an extension of the data Ocugen provided on April 14, 2023, includes more patients from the high-dose group. According to the business, OCU400—Ocugen's therapeutic approach—may be a gene-agnostic treatment for RP and LCA patients with hereditary retinal degeneration thanks to its novel modifier gene therapy platform.
• In June 2022, Biogen Inc. and Samsung Bioepis Co., Ltd. announced the U.S. launch of BYOOVIZTM (ranibizumab-nuna), a biosimilar that is modeled after LUCENTIS® (ranibizumab). On July 1, 2022, BYOOVIZ became commercially accessible through major U.S. distributors. The intravitreal injection of 0.5 mg cost $1,130 per single-use vial on the list price, which is 40% less than the list price of LUCENTIS at the moment. BYOOVIZ was licensed by the FDA to treat myopic choroidal neovascularization, macular edema following retinal vein occlusion, and neovascular (wet) age-related macular degeneration (AMD).

Segments Covered in Retinal Biologics Market Report

By Drug Class

• VEGF-A Antagonist
• TNF-A Inhibitor

By Indication

• Macular Degeneration
• Diabetic Retinopathy
• Uveitis
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa