Retinal Biologics Market Expected to Reach $24.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Retinal Biologics Market," The retinal biologics market size valued at $14.9 billion in 2022, and is estimated to reach $24.7 billion by 2032, growing at a CAGR of 5.1% from 2023 to 2032. Retinal biologics refers to a class of therapeutic agents that are used in the treatment of various retinal diseases. These biologics are typically derived from living organisms, such as proteins or antibodies, and are designed to target specific molecules or processes involved in retinal diseases.Increase in the geriatric population suffering from retinal diseases, surge in demand for effective treatment options, and technological advancement in gene therapy are the major factors responsible for the growth of retinal biologics industry. In addition, the rise in geriatric population suffering from retinal diseases and rise in number of pipeline products propels the retinal biologics industry growth.   

In the elderly population the macula, which is responsible for central vision, may degenerate, leading to blurred or distorted vision. The risk of macular degeneration increases with age, making the elderly population more susceptible to this condition. Thus, the rise in geriatric population contributes toward the retinal biologics market trends. For instance, according to the 2022 factsheet of World Health Organization (WHO), by 2030, 1 in 6 people in the world is projected to be aged 60 years or over. The world population of people aged 60 years and older is projected to be 2.1 billion by 2050. The number of people aged 80 years or older is expected to reach 426 million by 2050.   

Moreover, growth in awareness among patients and healthcare professionals about retinal diseases has led to early diagnosis and intervention. Early detection allows for timely treatment with retinal biologics, which may help slow down or halt disease progression and preserve vision. The emphasis on regular eye examinations and screening programs contributes to the demand for retinal biologics and boosts the retinal biologics market share growth.  

Furthermore, significant advancements in biotechnology and drug development resulted in the discovery and development of innovative retinal biologics which supports the retinal biologics market forecast. These biologics, including monoclonal antibodies, fusion proteins, and gene therapies, target specific molecules and pathways involved in retinal diseases, offering improved treatment outcomes and better patient care. Thus, advancements in retinal biologics drive the retinal biologics market size.   

On the basis of drug class, the retinal biologics market analysis is bifurcated into VEGF-A antagonist and others. The VEGF-A antagonist segment is further categorized into Aflibercept, Ranibizumab, and others. The VEGF-A antagonist segment dominated retinal biologics market share in 2022 and is expected to register the highest CAGR during the forecast period, owing to high adoption of VEGF-A antagonist as they are highly effective in treating various retinal diseases, particularly age-related macular degeneration (AMD), diabetic retinopathy, and retinal vein occlusion, extensive clinical evidence, and the increase in prevalence of retinal diseases.  

On the basis of indication, the retinal biologics market analysis is categorized into macular degeneration, diabetic retinopathy, and others. The macular degeneration segment accounted for the largest share in 2022 and is also expected to remain dominant during the forecast period, owing to high prevalence of age-related macular degeneration, growing awareness about early diagnosis, advancements in treatment options, and continuous research and development efforts has increased the demand for biologics drugs for the treatment of the macular degeneration.   

However, diabetic retinopathy segment is anticipated to witness highest growth, owing to surge in cases of the diabetic retinopathy due to sedentary lifestyles, unhealthy diets, and the aging population, increase in demand for effective treatments for diabetic retinopathy and the need to address the vision-threatening complications of diabetes.  

On the basis of distribution channel, the market is categorized into hospital pharmacies, drug stores and retail pharmacies and online providers. Hospital pharmacies segment occupied the largest share in 2022 owing to increase in sales of prescription age-related macular degeneration (AMD) drugs from hospital pharmacy, collaborative efforts with healthcare providers, and convenient medication delivery services, thereby driving market growth in this segment.   

On the basis of region, North America is expected to witness largest growth, in terms of revenue, owing to increase in cases of age-related macular degeneration market (AMD), presence of major key players, and rise in healthcare expenditure. In addition, a rise in regulatory product approvals is expected to drive market growth in the region during the forecast period. For instance, in June 2022, Biogen and Samsung Bioepis Co., Ltd. announced that Byooviz (ranibizumab-nuna), a biosimilar referencing Lucentis (ranibizumab) has been launched in the U.S. for the treatment of retinal diseases.  

However, Asia-Pacific is anticipated to witness notable growth, owing to increase in investments for development of treatment options for retinal diseases such as AMD, large patient population, rise in healthcare expenditure drive the growth of the market during the forecast period. In addition, surge in awareness leading to early detection and diagnosis of retinal conditions thereby drive the demand for retinal biologics as a treatment option and propels the market in this region.  

Key findings of the study  

• On the basis of drug class, the VEGF-A antagonist segment was largest contributor to the market in 2022.  
• On the basis of indication, the macular degeneration segment was largest contributor to the market in 2022. However, the diabetic retinopathy segment is anticipated to grow at the highest CAGR during the forecast period.  
• On the basis of distribution channel, the hospital pharmacies segment dominated the market in terms of revenue in 2022 and is also anticipated to grow at the highest CAGR during the forecast period.  
• On the basis of region, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.