Retinal Drugs Market Analysis

Global Retinal Drugs Market Overview

The Retinal Drugs Market Size was valued at USD 5.5 Billion in 2022 and is projected to grow from USD 5.8 Billion in 2023 to USD 9.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.30% during the forecast period (2023 - 2032). The prevalence of retinal illnesses is increasing, the geriatric population is growing quickly, and the incidence of diabetes is rising globally, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Retinal Drugs Market Trends

• Rise in the prevalence of retinal diseases is driving the market growth

The increase in retinal illnesses is a significant factor in the market's expansion. In both industrialized and emerging nations, the prevalence of retinal illnesses as wet AMD, diabetic retinopathy, DME, RVO, and mCNV is considerably rising. In developed nations and the third-leading cause of visual impairment globally, AMD is the main contributor to visual impairment. AMD is predicted to affect 202,200 million people worldwide. Wet AMD is the cause of about nine out of every 10 cases of significant visual loss associated with AMD. Globally, roughly 500,000 people receive a brand-new wet AMD diagnosis each year.

The growth in risk factors is connected to the rising prevalence of retinal disorders. RVO typically affects adults over 50, and the risk rises with advancing age. From 2% for individuals in the age range of 50 to 59 to over 30% for those over 75, the risk of developing advanced AMD rises. Because the average life expectancy has increased globally, the senior population is likewise expanding quickly. In the world, there will be 810 million persons 65 and older by 2025, according to predictions. The prevalence of diabetic retinopathy, DME, and associated sequelae is rising as the prevalence of diabetes rises globally. Therefore, during the projection period, these factors will boost demand for retinal medications, boosting market expansion.

A new trend on the market is the surge in demand for sustained-release ocular formulations. The route of administration and length of treatment are still barriers to therapy, despite the fact that anti-VEGF medications are beneficial in many individuals. By lowering the frequency of dosing, doing away with the requirement for medications to be supplied by patients, and getting around the physical barriers of the ocular tissues, sustained-release ocular formulations can overcome the shortcomings of many of the present delivery methods. The ozurdex implant is a recognized biological intravitreal sustained DDS that can deliver dexamethasone over a period of months, improving visual acuity noticeably.

Due to the rising incidence of serious eye diseases, the increased R&D to discover new methods to deliver therapeutics, including small and large molecules, and the growing desire to lessen the frequency burden of repeated intravitreal injections, there is a steadily growing demand for new sustained-release ocular DDS. The development of sustained-release formulations for the management of various retinal diseases is another area of interest for a number of vendors. Therefore, it is anticipated that throughout the forecast period, increased demand for sustained-release ocular formulations will propel market expansion globally. Thus, driving the Retinal Drugs market revenue.

Retinal Drugs Market Segment Insights

Retinal Drugs Distribution Channel Insights

The Market segments of Retinal Drugs, based on Distribution Channel, includes hospital pharmacy, retail pharmacy, and online pharmacy. In 2022, the hospital pharmacies category dominated the global market for retinal drugs. Hospital pharmacies are locations where hospitals offer medications and other pharmaceutical-related products from various pharmaceutical companies. These products are utilized for the treatment of both inpatients and outpatients. Therapeutic and critical care medications can be available in hospital pharmacies. These medicines can be used to treat illnesses of the retina. Hospital pharmacists' main goal is to buy, store, and provide patients with pharmaceuticals. During the hospital-facilitated therapy period, patients get hospital medications.

Retinal Drugs Indication Insights

The Retinal Drugs Market segmentation, based on Indication, includes macular degeneration, diabetic eye disease, and others. In 2022, the macular degeneration category held the greatest market share. This is because macular degeneration is becoming more common, there is more regulatory support, and major participants in the market are becoming more interested. For instance, the U.S. FDA authorized Byooviz, a biosimilar to Lucentis that was developed by Biogen Inc. and Samsung Bioepis Co., Ltd., in September 2021 for the treatment of neovascular age-related macular degeneration (AMD). For the treatment of age-related macular degeneration, two Korean companies, Chong Kun Dang and Samsung Bioepis, plan to introduce a biosimilar version of Lucentis in December 2022.

Figure 1: Retinal Drugs Market, by Indication, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Retinal Drugs Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Retinal Drugs Market dominated the global market in 2022 with 45.80% share. This can be linked to the rising elderly population, the proliferation of new products, and increased public awareness of eye diseases. According to the BrightFocus Foundation, 11 million Americans had AMD in 2019 and that figure is expected to increase by 2050. The ailment is becoming more prevalent, which increases the need for the development of efficient therapies that will allow major companies to provide innovative medications. Further, the U.S. market of retinal drugs held the largest market share, and the Canada market of retinal drugs was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Retinal Drugs Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Retinal Drugs market accounts for the second-largest market share. As hospitals buy or acquire controlling interests in physician practices, their influence and influence will grow. Greater healthcare systems, which may include payors, specialty services, outpatient clinics, long-term care facilities, and physician practices, are combining more hospitals. The category is therefore anticipated to develop throughout the forecast period as a result of these factors. Further, the German market of retinal drugs held the largest market share, and the U.K market of retinal drugs was the fastest growing market in the European region

The Asia Pacific Retinal Drugs market is expected to register fastest CAGR from 2023 to 2032, due to the availability of effective and efficient treatment options, greater disposable income, and increased public awareness of early diagnosis and treatment. For instance, 12.5 million of the 74 million diabetics in India as of 2021 had some kind of diabetic retinopathy. Therefore, the region is experiencing opportunities due to the existence of a large number of target patients. Moreover, China’s market of retinal drugs held the largest market share, and the Indian market of retinal drugs was the fastest growing market in the Asia-Pacific region.

Retinal Drugs Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the market of retinal drugs, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Retinal Drugs industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Retinal Drugs industry to benefit clients and increase the market sector. In recent years, the Retinal Drugs industry has offered some of the most significant advantages to medicine. Major players in the Retinal Drugs market, including Bayer AG, Alcon Inc., Alimera Sciences Inc., Bausch Health Co Inc., Bristol Myers Squibb Co., F. Hoffmann La Roche Ltd., Kubota Corp., MeiraGTx Holdings Plc, Novartis AG, Ocular Therapeutix Inc., Oxurion NV, Pfizer Inc., Regeneron Pharmaceuticals Inc., REGENXBIO Inc, and Sanofi SA, are attempting to increase market demand by investing in research and development operations.

• Hoffmann-La Roche Ltd. (Roche), a biotechnology company, develops drugs and diagnostic equipment to treat severe illnesses. It provides drugs for the treatment of cancer, different auto-immune diseases, neurological disorders, ophthalmological disorders, and issues with the central nervous system. Additionally, the company offers in vitro diagnostics, tissue-based cancer diagnostics, and diabetes management solutions. Roche conducts research to identify cutting-edge approaches to sickness prevention, diagnosis, and treatment. Hospitals, medical professionals, business laboratories, researchers, and pharmacists are just a few of the organizations that the company offers its products and services to. Together with its partners and affiliates, the company conducts business internationally. Basel, Switzerland serves as Roche's corporate headquarters. In January 2022, the Food and Drug Administration approved Vabysmo from Roche as a treatment for wet age-related macular degeneration, an eye disorder that increases the risk of blindness in older people.

A clinical-stage ophthalmic biopharmaceutical firm called Ocuphire Pharma Inc. is dedicated to creating and marketing treatments for the management of refractive and retinal eye problems. Two small molecule product candidates for front and back of the eye indications are in Ocuphire's pipeline. The Nyxol candidate is being developed to treat presbyopia, mydriasis caused by medication, and problems seeing in low light or at night. For diabetic retinopathy and diabetic macular edema, the second product candidate, APX3330, is being developed. A U.S. patent was granted to Ocuphire Pharma, Inc. in June 2022 for APX3330, a late-stage oral medication candidate for the treatment of diabetic retinopathy patients.

Key Companies in the market of retinal drugs include

• Bayer AG


• Alcon Inc.


• Alimera Sciences Inc.


• Bausch Health Co Inc.


• Bristol Myers Squibb Co.


• Hoffmann La Roche Ltd.


• Kubota Corp.


• MeiraGTx Holdings Plc


• Novartis AG


• Ocular Therapeutix Inc.


• Oxurion NV


• Pfizer Inc.


• Regeneron Pharmaceuticals Inc.


• REGENXBIO Inc


• Sanofi SA

Retinal Drugs Industry Developments

March 2021 In order to create a new class of biologicals for the treatment of diabetic retinopathy and ischemic retinal disorders, SemaThera Inc. established a licensing arrangement and a research partnership with Roche.

December 2022 The phase 1 clinical trials of OLX301A for the treatment of wet and dry muscle degeneration have been registered by Olix Pharmaceuticals in the United States.

Retinal Drugs Market Segmentation

Retinal Drugs Distribution Channel Outlook

• Hospital Pharmacy


• Retail Pharmacy


• Online Pharmacy

Retinal Drugs Indication Outlook

• Macular Degeneration


• Diabetic Eye Disease


• Others

Retinal Drugs Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America