The North America Retinal Biologics Market would witness market growth of 4.9% CAGR during the forecast period (2023-2030).
Increases in the prevalence of retinal illnesses such as diabetic retinopathy, age-related macular degeneration (AMD), and retinal vein occlusion have been major drivers of the market growth. Moreover, the Centers for Disease Control and Prevention (CDC) of the US states that the prevalence of AMD generally rises with age, rising from 2% in those aged 40 to 44 to 46.6% in people aged 85 and older.
The American Academy of Ophthalmology (AAO) states that the largest cause of avoidable blindness in the adult working population is diabetic retinopathy, which is still a frequent consequence of diabetes mellitus. 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 demand for retinal biologics is increasing in this region because of the rising rates of macular degeneration, diabetic retinopathy, uveitis, and other eye conditions. According to the Centers for Disease Control and Prevention (CDC), an estimated that 19.8 million people (above 40) had age-related macular degeneration in 2019. Similarly, Health Canada states that every year, about 200,000 new instances of AMD are identified in the nation. The growing prevalence of retinal diseases, the rise in research and development activities, and the expansion of strategic initiatives by major market players are the primary factors driving the growth of the North American market.
Strategic actions performed by the major market participants may further stimulate market expansion. In October 2021, for instance, Novartis gained approval from the U.S. Food and Drug Administration (FDA) for the company's supplemental Biologics License Application (sBLA) for the type-II variant application for Beovu (brolucizumab) 6 mg for the treatment of diabetic macular edema (DME). Hene, the region preset lucrative growth prospects for the market throughout the forecast period.
The US market dominated the North America Retinal Biologics Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $7,816.4 million by 2030. The Canada market is experiencing witness a CAGR of 7.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 6.4% 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 U.S., Mexico, Canada, and Rest of North America.
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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