Retinal Biologics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Retinal Biologics market studied is anticipated to grow with a CAGR of nearly 6.8%, during the forecast period.

Certain factors that are driving the market growth include rising burden of retinal diseases and increasing diabetic patient population, increasing R&D activities and the growing number of FDA approvals.

There has been a tremendous increase in the diabetic population, across the globe, over the past decade. Several reports and surveys documented a drastic increase in the diabetic population, based on the changing lifestyle and habits. For instance, according to the British Diabetic Association, it is estimated that almost 3.7 million people are living with diabetes in the United Kingdom and the number has doubled in the past two decades. Moreover, around 12.3 million people are at an increased risk of Type 2 diabetes in the United Kingdom, and obesity is the leading cause in the majority of preventable cases.

However, the stringent regulatory process and initial high capital investment are considered as the major restraining factors for the Retinal Biologics market.

Scope of the Report

Biologics are generally produced from living organisms such as microorganisms, or animal or plant cells. Retinal biologics refer to bioengineered molecules which are implanted inside the eyes in order to heal chronic retinal diseases.

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Key Market Trends

Diabetic Retinopathy Shows Lucrative Opportunity in the Global Retinal Biologics Market

Diabetic retinopathy (DR) is a leading cause of vision-loss globally. According to the International Diabetes Federation, the devastating consequences of diabetes mellitus is set to continue as a result of the predicted increase in prevalence from 463 million in 2019 to 700 million in 2045. Among this diabetic population, the global prevalence of diabetic retinopathy (DR) and diabetic macular edema (DME), for 2019, were 27.0%. The lowest prevalence was in Europe at 20.6% and South East Asia at 12.5% and highest in Africa at 33.8%, Middle East and North Africa 33.8%, and the Western Pacific region at 36.2%.

The most clinically important risk factors for progression to vision loss include duration of diabetes, hyperglycemia, and hypertension. Control of serum glucose and blood pressure have been shown to be effective in preventing vision loss due to DR. Hence, the rising prevalence of DR, along with the growing awareness and concern over it, are expected to drive the segment growth over the forecast period.

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