Retinal Drugs and Biologics Market Forecasted Double-Digit Growth Rate Through 2024
Sarasota, FL -- (SBWIRE) -- 08/01/2017 -- Global Retinal Drugs and Biologics Market: Overview
The retina is a delicate and sensitive part of the human eye. It is helpful in processing and receiving the light and converts them into neural signals and passes them to the brain for the activities that are done visually. The retinal health disorders include age-related macular degeneration, infectious retinitis, diabetic retinopathy, macular edema, retinoblastoma, macular hole, retinoschisis, retinal degeneration, and uveitis.
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Global Retinal Drugs and Biologics Market: Segmentation
The global retinal drugs and biologics market is segmented into types of therapies, types of conditions, and distribution channels. On the basis of types of therapies, the global market is segregated into surgery, medicines, and retinal laser. The medicines segment is sub-divided into intravitreal injections, anti-VEGF drugs, and intravitreal implant releasing steroids. The anti-VEGF drugs are further sub-segmented into ranibizumab, aflibercept, and bevacizumab. The intravitreal implant releasing steroids are sub-categorized into fluocinolone and dexamethasone. Depending on the types of conditions, the global market is categorized into diabetic retinopathy, macular hole, age-related macular degeneration, and ocular inflammatory disease (uveitis). The different distribution channels of the retinal drugs and biologics market include hospital pharmacies, retail pharmacies, and specialty ophthalmology clinics.
Global Retinal Drugs and Biologics Market: Growth Factors
The increasing number of cases of ophthalmic disorders due to age-related problems is the prime factor that contributes to the growth of the retinal drugs and biologics market. The development of several new products in forms of drug-releasing implants and biologics owing to the continuous efforts that are taken for the development and research of new treatment options are contributing to the market growth. The developments in the biologics—Lucentis—in the field of ophthalmology have completely shifted the treatment of the patients. However, the limited availability of the biologics, harmful side effects of the biologics, stringent regulatory rules that are associated with biologics approval, and lack of accessibility for biologics and effective drugs owing to the increased price may hamper the growth of the market.
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Global Retinal Drugs and Biologics Market: Regional Analysis
The geographical segmentation of the global retinal drugs and biologics market is diversified into North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific, and the Middle East and Africa. There are increased rates of incidences of people having retinal disorders in the European countries, thus it has growing demand for retinal drugs and biologics. Europe is followed by the North America. The cases of retinal diseases among the people in Asia Pacific region was less as compared to other regions. But this figure will increase in the coming years, thus the market will grow gradually in Asia Pacific region. A significant role is also played by diabetes in retinal disease treatment market. The rising rates of people suffering from diabetes in the developing nations due to unhealthy habits and inactive life style and are other factors that are anticipated to fuel the growth of the market for retinal diseases drugs and biologics.
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Global Retinal Drugs and Biologics Market: Competitive Players
The key market players that are involved in the retinal drugs and biologics market include Alimera Sciences, Janssen Biotech, Inc., F. Hoffmann-La Roche Ltd., Genzyme Corporation, Ocular Therapeutix, Inc., UCBCares, Allergan, AbbVie Inc., Swedish Orphan Biovitrum, Bristol-Myers Squibb Company, Genentech USA, Inc., and Bausch & Lomb Incorporated.
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