Retinal Drugs and Biologics Market Rugged Expansion Foreseen by 2027
The key contributor to the growth of global retinal drugs and biologics market is globally rising incidences of ophthalmic disorders related to age.
Valley Cottage, NY -- (SBWire) -- 08/22/2018 --Retina is a very sensitive and delicate part of human eye which is responsible for receiving and processing light to convert into neural signals and send to the brain for visual activity. The disorders related to retinal health include age-related macular degeneration, diabetic retinopathy, infectious retinitis, macular edema, macular hole, retinoblastoma, retinal degeneration, retinoschisis and uveitis etc. There are various types of retinal disorders but most of them cause visual symptoms. For instance, age-related macular degeneration (AMD), the most common retinal disease is associated with aging. It is a leading cause of blindness among people over the age of 50. Diabetic retinopathy is another major retinal disease which is a result of complications of diabetes. Diabetes damage the tiny blood vessels of retina and blood or fluids start to leak out from the vessels. The treatment of retinal disorders include surgery and medicines.
Retinal Drugs and Biologics Market: Drivers and Restraints
The key contributor to the growth of global retinal drugs and biologics market is globally rising incidences of ophthalmic disorders related to age. Emergence of various innovative products in forms of biologics and drug releasing implants as a result of research and development and continuous efforts to invent treatment alternatives are contributing to the market growth. Introduction of biologics such as Lucentis to the ophthalmology field has represented a true paradigm shift in the treatment of patients. Lucentis has been successful in preserving vision in 90% of wet age related macular degeneration. However, the availability of limited number of biologics, severe side effects of biologics, strict regulatory norms associated with the approval of biologics, inaccessibility to the effective drugs and biologics due to high costs may limit the market growth.
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Retinal Drugs and Biologics Market: Segmentation
Global retinal drugs and biologics market has been segmented on the basis of types of conditions, types of therapies, distribution channels and region.
Based on types of conditions, the global retinal drugs and biologics market is segmented into:
Age related macular degeneration
Ocular Inflammatory Disease (Uveitis)
Based on the types of therapies, the global retinal drugs and biologics market is segmented into:
Intravitreal Implant Releasing Steroids
Based on the distribution channels, the global Retinal Drugs and Biologics Market is segmented into:
Specialty Ophthalmology Clinics
Retinal Drugs and Biologics Market: Overview
Global Retinal Drugs and Biologics market is highly fragmented with the presence of multiple players.Overall market is expected to report a sound growth as the epidemiologic studies have revealed that over 296 million people suffer from some type of retinal disease or condition globally, around 142 million people across the globe are impacted by age-related macular degeneration and approximately 105 million are affected by diabetic eye disease, these two diseases in combination are leading causes of vision loss globally.
Retinal Drugs and Biologics Market: Region-wise Outlook
Geographically, Retinal Drugs and Biologics Market is segmented into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan, Middle East and Africa. European countries have been witnessed highest incidence rates in case of retinal disorders followed by North America. The incidence rates of retinal diseases in Asia Pacific countries is comparatively less but it is increasing gradually, hence the market will show a gradual increase in this region. Diabetes also plays a significant role in retinal disease treatment market. The growing incidence rate of diabetes in developed countries due to sedentary life style and unhealthy habits is expected to fuel the market growth for retinal diseases drugs and biologics.
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Retinal Drugs and Biologics Market: Key Players
Some of the players active in the global Retinal Drugs and Biologics Market include ALLERGAN, Alimera Sciences, AbbVie Inc., Janssen Biotech, Inc., Swedish Orphan Biovitrum, F. Hoffmann-La Roche Ltd, Bristol-Myers Squibb Company, Genzyme Corporation, Genentech USA, Inc., OCULAR THERAPEUTIX, INC. and Bausch & Lomb Incorporated and UCBCares.
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