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The retinal drugs market size is forecast to increase by USD 8.40 billion at a CAGR of 6.78% between 2023 and 2028. The market is experiencing significant growth due to the rising prevalence of retinal diseases, particularly age-related macular degeneration (AMD) and diabetic retinopathy. According to the World Health Organization, AMD is the leading cause of vision loss in adults over 50 years old, and diabetic retinopathy affects approximately 285 million people worldwide. The development of innovative therapies, such as gene therapies and anti-VEGF agents, offers new treatment options for these debilitating conditions. However, the high cost associated with retinal disease therapy remains a major challenge for patients and healthcare systems, limiting widespread access to these advanced treatments. Despite this, the market is expected to continue growing due to the increasing demand for effective treatments and the potential for new technological advancements.
The market is poised for significant growth due to the increasing awareness of worker safety, particularly in industrial workplaces. Brain injuries, including those caused by falling objects and electrical exposure, are a major concern in industries such as construction and manufacturing. The employer's responsibility to ensure employee safety has led to statutory restrictions on certain hazardous activities and the implementation of engineering and administrative controls. The use of personal protective equipment (PPE), such as PE helmets, has become mandatory in many industries to mitigate the risk of fatal head injuries. The development of advanced materials like polyethylene and polycarbonate for PPE manufacturing is a key trend in the market.
Industrialization and the resulting increase in workplace accidents have fueled the demand for retinal drugs to treat injuries to the eyes, including those caused by brain trauma. Artificial intelligence (AI) is being explored as a tool to identify potential hazards and prevent accidents before they occur. The market is expected to grow as employers continue to prioritize employee safety and regulatory bodies enforce stricter safety standards.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The Hospital pharmacy segment is estimated to witness significant growth during the forecast period. The market encompasses various sectors, with hospital pharmacies holding the largest market share due to the high demand for therapeutic and critical care drugs used in the treatment of retinal diseases. The importance of worker safety, particularly in industries prone to brain injuries such as oil & gas, power production, mining, and construction, has led to increased awareness and statutory restrictions. Industrialization has resulted in the widespread use of hard hats, including PE helmets, ABS helmets, and bump caps, to protect labourers/workers from head and brain injuries caused by falling objects, electrical exposure, and lateral shock. Advanced technologies like AI are being integrated into protective gear to enhance safety, while engineering and administrative controls, quality options, and colours, stickers, and identification features are essential for easy recognition and compliance.
Employers are increasingly focusing on providing a safe workplace through the use of protective padding and materials like polyethylene, polycarbonate, and polyurethane. Occupational accidents continue to be a concern, and the prevention of fatal head injuries remains a priority in industrial workplaces.
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The hospital pharmacy segment accounted for USD 10.71 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market encompasses a range of pharmaceutical interventions designed to treat various retinal disorders. These conditions, if left untreated, can lead to permanent disability or even death. The impact of such diagnoses can be devastating for loved ones, who may be left in a state of shock. In the context of retinal disorders, the eye's delicate structures, including the skin, skull, and spinal cord, can be compromised. Effective treatments, therefore, require not only therapeutic efficacy but also the ability to absorb shock and protect these vital structures. The market for retinal drugs, thus, prioritizes products with superior safety profiles and optimal shock absorption properties.
Our retinal drugs market researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The incidence of retinal diseases has seen an increasing trend in recent years. The prevalence of retinal diseases, including wet AMD, diabetic retinopathy, DME, RVO, and mCNV, is on the rise in both developed and developing countries. Among these, AMD is the leading cause of visual disability in industrialized nations and the third leading cause of visual impairment worldwide. It is estimated that approximately 202.2 million people will be affected by MD globally. Nearly 90% of severe vision loss due to AMD is caused by the wet form of the disease. Every year, around 500,000 new cases of wet AMD are diagnosed worldwide, with approximately 200,000 new cases reported in North America each year.
AMD is a significant cause of visual impairment among older people of European ancestry. Brain injuries, including head and eye injuries, are a common occurrence in various industries such as oil & gas, power production, and construction. Employer responsibility for employee safety is paramount, with statutory restrictions and increased worker safety awareness leading to the widespread use of protective gear like hard hats, bump caps, and PE, polycarbonate, and ABS helmets. These helmets provide protection against lateral shock, electrical exposure, and falling objects. Engineering and administrative controls are essential in preventing workplace accidents. Quality options, such as protective padding and polyurethane materials, ensure maximum safety.
Helmets come in various colours, stickers, and identification features, including company logos, for easy identification. Despite these measures, fatal head injuries and brain injuries continue to occur, making it crucial to remain vigilant and prioritize workplace safety. Industries like mining and construction pose a high risk for such injuries.
The advancement of novel therapeutic solutions. This involves staying informed about the latest research and collaborating with experts to explore new treatment options.The development of effective and safe therapies for various health conditions. The market is witnessing significant growth due to the increasing prevalence of retinal diseases, particularly in industries with high risks of brain and head injuries. Worker safety awareness, statutory restrictions, and the need for employee safety have led to the widespread use of protective equipment, such as hard hats, bump caps, and PE, polycarbonate, and ABS helmets, in industrialization sectors like oil & gas, power production, mining, and construction. These industries pose risks from falling objects, electrical exposure, lateral shock, and other hazards that can lead to fatal head injuries and brain injuries. To mitigate these risks, employers are implementing engineering controls, administrative controls, and quality options to ensure workplace safety.
Protective padding, polyurethane materials, and identification features such as colours, stickers, and company logos are essential elements of these protective equipment. Innovative technologies, including AI and machine learning, are being integrated into hard hats and other protective gear to enhance their functionality and effectiveness. The development of combination therapies, such as those that combine anti-VEGF with anti-PDGF agents or ANG-Tie2 pathway drugs, is a promising trend in the market. These therapies offer the potential for more effective treatment of retinal diseases, reducing the risk of occupational accidents and improving overall workplace safety.
The expense connected to therapies for retinal diseases is significant. The market faces limitations in growth due to the high cost of treatment, which is a significant barrier for widespread adoption. For instance, EYLEA costs approximately USD1,850 per intravitreal dose, LUCENTIS 0.5 mg costs approximately USD2,000 per dose, and CONCEPT costs approximately USD1,150 per dose. The treatment cost can escalate as patients with retinal diseases typically require nine to 11 injections in their first year and 17 injections over five years. Additionally, patients incur extra costs for examinations and retinal imaging tests related to intravitreal injections. This high cost is making these drugs unaffordable for a considerable number of patients, particularly in developing countries like India.
Brain injuries and head injuries are common in various industries, including oil & gas, power production, mining, and construction. Employer responsibility and worker safety awareness have led to the implementation of statutory restrictions and engineering and administrative controls. Industrialization has led to the production of hard hats, bump caps, and helmets made of materials like PE, polycarbonate, ABS, and polyurethane. These protective headgear is essential in industrial workplaces to shield labourers/workers from lateral shock, falling objects, electrical exposure, and fatal head injuries. Protective padding and colours, stickers, and identification, including company logos, are additional features that enhance the functionality and effectiveness of these safety equipment.
The retinal drugs market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AbbVie Inc: The company is committed to providing advanced retinal drug solutions.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is poised for significant growth due to the increasing awareness of worker safety in various industries, including oil & gas and power production. Brain injuries, particularly head and eye injuries, are a major concern in industrial workplaces, leading to statutory restrictions and stringent regulations. Hard hats, bump caps, and PE helmets made of polyethylene and polycarbonate materials are commonly used protective gear. Industrialization and the rise in construction activities have increased the risk of occupational accidents, leading to fatal head injuries. Artificial intelligence (AI) is increasingly being used to identify potential hazards and prevent workplace accidents. Engineering and administrative controls, along with quality options, are essential in reducing the risk of lateral shock and protecting the neck, eyes, and other body parts from electrical exposure.
Protective padding, made of materials like polyurethane, is also used in helmets to provide additional safety. Colours, stickers, identification, and company logos help in easy recognition of protective gear in the workplace. Employers are investing in safety measures to prevent workplace accidents and ensure employee safety. Falling objects and other hazards continue to pose a threat, making the need for advanced protective gear a priority.
Market Scope |
|
Report Coverage |
Details |
Page number |
180 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 8.40 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 47% |
Key countries |
US, China, Germany, Spain, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Alcon Inc., Alimera Sciences Inc., Bausch Health Companies Inc., Bayer AG, Bristol Myers Squibb Co., F. Hoffmann La Roche Ltd., Johnson and Johnson Services Inc., Kubota Corp., MeiraGTx Holdings Plc., Novartis AG, Ocular Therapeutix Inc, Oxurion N, Pfizer Inc., Regeneron Pharmaceuticals Inc., REGENXBIO Inc, Sanofi SA, Santen Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., and Visufarma |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Indication
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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