The Latin America, Middle East and Africa Retinal Biologics Market would witness market growth of 6.3% CAGR during the forecast period (2023-2030).
Growing consumer awareness of retinal illnesses, how to diagnose them, and the therapies that are available has been a major factor in the market expansion. In order to raise awareness, fund research, and offer assistance to sufferers and their families, organizations like the American Macular Degeneration Foundation (AMDF) and the Foundation Fighting Blindness are vital. The activities of these organizations help raise public awareness, which in turn helps the market expand. The market is also expanding due to factors like the increased use of VEGF-A antagonists and greater awareness of early diagnosis and treatment.
Moreover, developments in molecular biology, genetic engineering, and biotechnology have created new opportunities for creating retinal biologic medicines. In preclinical and clinical investigations, methods like gene therapy, cell-based therapeutics, and RNA interference have demonstrated promise, igniting research and development efforts in retinal biologics and fostering the market's expansion.
Throughout the projection period, the market in Latin America is anticipated to expand. Some of the primary drivers behind the expansion of the market in the region include the rising prevalence of various eye-related problems, the general public's increased awareness of diseases, and the leading players' increasing efforts to introduce new drugs there. The demand for therapies for ocular diseases is developing in Latin America and the Middle East & Africa due to a number of factors, including bettering healthcare infrastructure and expanding collaboration and partnerships among the major players to enhance access to diverse ophthalmic medications.
Similarly, in the Middle East, Bahrain, Kuwait, Lebanon, Oman, Saudi Arabia, and the United Arab Emirates are six of the ten nations in the world with the highest prevalence of diabetes. From 19% in the UAE to 64% in Jordan, diabetic retinopathy is common. Consequently, this has presented numerous growth opportunities for key market players and thus propel the development of the regional market.
The Brazil market dominated the LAMEA Retinal Biologics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $236.4 million by 2030. The Argentina market is showcasing a CAGR of 6.9% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 6% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
By Indication
By Drug Class
By Distribution Channel
By Country
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