Retinal Biologics Market Size, Share, Industry Trends and Forecast to 2030

Market Size & CAGR of Retinal Biologics Market in 2021

The global retinal biologics market is projected to have a Compound Annual Growth Rate (CAGR) of 5.2% in 2021. The market size is estimated to reach USD 8.6 billion by the end of the year. This growth can be attributed to the increasing prevalence of retinal diseases and the growing demand for advanced biologic treatments.

COVID-19 Impact on the Retinal Biologics Market

The COVID-19 pandemic has had a significant impact on the retinal biologics market. The lockdowns and restrictions imposed to curb the spread of the virus disrupted the supply chain of biologic drugs, leading to a temporary decrease in market growth. However, as healthcare systems adapted to the new normal and the vaccination drives picked up pace, the market witnessed a gradual recovery.

Retinal Biologics Dynamics

The dynamics of the retinal biologics market are influenced by factors such as technological advancements in drug development, increasing research and development activities, rising healthcare expenditure, and growing awareness about retinal diseases. The market is characterized by intense competition among key players striving to introduce innovative biologic therapies for various retinal disorders.

Segments and Related Analysis

The retinal biologics market can be segmented based on product type, application, and end-user. Product types may include anti-VEGF drugs, corticosteroids, and others. Applications could range from age-related macular degeneration to diabetic retinopathy. End-users may include hospitals, clinics, and research institutes.

By Region Analysis

When analyzing the retinal biologics market by region, North America leads the way with the largest market share, driven by advanced healthcare infrastructure, high healthcare expenditure, and the presence of key market players. Europe and Asia Pacific follow suit, witnessing significant growth owing to the rising prevalence of retinal disorders and increasing investments in healthcare.

Key Market Players and Competitive Landscape

Key players in the retinal biologics market include Genentech, Novartis, Regeneron Pharmaceuticals, Bayer AG, and Allergan. These companies focus on research and development to introduce novel biologic therapies, engage in strategic collaborations, and undertake mergers and acquisitions to strengthen their market position.

Recent Happenings in the Retinal Biologics Market

In recent times, the retinal biologics market has witnessed several significant developments. For instance, Genentech received FDA approval for a new anti-VEGF drug for the treatment of retinal diseases. Novartis announced a partnership with a leading research institute to conduct clinical trials for a novel corticosteroid therapy. These advancements underscore the dynamic nature of the retinal biologics market.