The Asia Pacific Retinal Biologics Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
Eye problems like retinal vein blockage also requires the use of retinal biologics. The National Library of Medicine reported in May 2023 that central retinal vein blockage is one of the leading causes of unexpected, painless vision loss in individuals. The prevalence of central retinal vein occlusion is 0.8 per 1000, and the prevalence of retinal vein occlusions is 5.20 per 1000 in the industrialized world. The prevalence and incidence of retinal fuels consumer desire for efficient treatment choices and boosts market expansion.
Due to increased healthcare infrastructure, an increase in unmet healthcare requirements, and a rise in the prevalence of noncommunicable or chronic diseases like diabetes, the retinal biologics demand is predicted to grow rapidly in unexplored, emerging regions. Aside from that, the demand for better healthcare services is growing, and the government is making considerable expenditures to upgrade the healthcare infrastructure. As a result, the healthcare sector in emerging economies is growing at a significant rate.
For many patients experiencing diabetic retinopathy, wet AMD, and macular edema from RVO or retina vein occlusion, anti-VEGF medication, the mainstay for many retinal illnesses frequently seen in a retina practice, can prevent further vision loss and restore visual function. Agents now on the market that have received approval include aflibercept (Eylea, Regeneron), ranibizumab (Lucentis, Genentech/Roche), and brolucizumab (Beovu, Novartis). Hence, the market will expand gradually throughout the forecast period, owing to the increasing prevalence of eye problems, their rising awareness, and the increasing R&D and approvals of retinal biologics.
According to the Organisation for Economic Co-operation and Development (OECD), about 227 million individuals in the Asia Pacific region have type 2 diabetes, and about half of them are untreated and uninformed that they will experience long-term consequences. The prevalence of diabetes among adults in the Asia Pacific nations ranged from 5.5% in Australia to 18.9% in Fiji for women and from 5.5% in Vietnam to 15.9% in Fiji for men. In this region, hyperglycemia, high pressure, dyslipidemia, and obesity were the most prevalent modifiable risk factors for DR. In the past few years, the implementation of systematic screening programs for DR and improvement in telemedicine screening methods have boosted patient coverage and cost-effectiveness. Thus, with the rise of awareness and prevalence of disease, the regional market will grow rapidly throughout the forecast period.
The China market dominated the Asia Pacific Retinal Biologics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,010.8 million by 2030. The Japan market is registering a CAGR of 5.5% during (2023 - 2030). Additionally, The India market would showcase a CAGR of 6.7% during (2023 - 2030).
Based on Indication, the market is segmented into Macular Degeneration, Diabetic Retinopathy and Others. Based on Drug Class, the market is segmented into VEGF-A Antagonist and Others. Based on Distribution Channel, the market is segmented into Hospital Pharmacy, Retail Pharmacy and Online Pharmacy. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Retinal Biologics Market is Projected to reach USD 20.7 Billion by 2030, at a CAGR of 5.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Novartis AG, Amgen, Inc., AbbVie, Inc., Bayer AG, Regeneron Pharmaceuticals, Inc., Santen Pharmaceutical Co., Ltd., Bausch Health Companies, Inc., F. Hoffmann-La Roche Ltd., MeiraGTx Holdings plc and Oxurion NV.
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