Market Size of Retinal Biologics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Retinal Biologics Market Analysis
The retinal biologics market studied is anticipated to record a CAGR of nearly 6.8% during the forecast period.
COVID-19 pandemic has had a substantial impact on the retinal biologics market initially. The global lockdown has affected the supply chain of pharmaceuticals, medical devices, and biotechnological products. As per the study "Retinal findings in patients with COVID-19: Results from the SERPICO-19 study," published in September 2020, COVID-19 could affect the retina. Retinal veins diameter seems directly correlated with the disease severity. Thus, during COVID-19, retinal diseases increased, impacting the demand for retinal biologics. Thus, the COVID-19 outbreak affected the market's growth adversely in its preliminary phase; however, the market is expected to gain traction due to the significant increase in the need for retinal globally.
Further, the rising burden of retinal diseases, the increasing diabetic patient population, increasing R&D activities, and the growing number of FDA approvals are among the major factors driving the growth of the studied market. Currently, 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 Asian Diabetics Prevention Initiatives, the higher contribution of diabetes burden are in China and India, and by 2030, both China and India combined may have almost half a billion diabetic patients.
As per the study "Global Prevalence of Diabetic Retinopathy and Projection of Burden through 2045: Systematic Review and Meta-analysis," published in November 2021, the number of adults globally with diabetic retinopathy was estimated to be 103.12 million in 2020, and by 2045, the numbers are projected to increase to 160.50 million. Thus, the growing burden of retinal diseases such as diabetic retinopathy may increase the demand for biologic treatment, which is expected to further drive the market growth.
Furthermore, in February 2022, Eyebiotech Limited secured USD 65 million in a series A financing round for developing a diverse pipeline of therapies for eye diseases such as wet age-related macular degeneration, diabetic retinopathy, etc. Therefore, rising investments may also boost innovation in the studied market, thereby driving the studied market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, stringent regulatory process and initial high capital investment is likely to impede the market growth.
