The retinal biosimilars market has witnessed a remarkable boost with the approval of several retinal biosimilars in 2017. Amgen’s Amgevita in March, f Biogen/Samsung Bioepis’s Imraldi in August, and Boehringer Ingelheim Internationl’s Cyltezo in November were approved in their respective regions. The slow adoption of retinal biosimilars is anticipated due to the initial reluctance of physicians to prescribe retinal biosimilars for individuals who have been using branded products over a long period of time. It is anticipated that retinal biosimilars, over the forecast period, could exploit their commercial potential due to the patent expiration of existing therapies such as Lucentis, Eyela, and others.
Retinal Biosimilars Market: Drivers and Restraints
The growing prevalence and recurrence of retinal diseases is expected to be the major factor driving the growth of the retinal biosimilars market over the coming years. Various initiatives conducted by different organizations across the globe spread awareness related to the treatment and diagnosis of ophthalmic diseases. The International Centre for Eye Health (ICEH) focuses on spreading awareness regarding eye health anomalies and treatment. The World Glaucoma Congress, organized by the World Glaucoma Association, is conducted every year in order to spread awareness and discuss about the various glaucoma treatments and advancements regarding eye related disorders. Seminars organized by MDA (Macular Degeneration Association, Inc) across various regions promote treatment penetration for age-related macular degeneration (AMD). These initiatives are expected to fuel the growth and increase the adoption of retinal biosimilars. The launch and addition of new retinal biosimilars is another factor contributing to the growth of the global retinal biosimilars market.
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Retinal Biosimilars Market: Segmentation
Tentatively, the global retinal biosimilars market can be segmented on the basis of indication, distribution channel, and geography.
Based on indication, the global biosimilars market is segmented as:
- Macular Degeneration
- Diabetic Eye Disease
- Retinal Detachment
- Macular Pucker
Based on distribution channel, the global retinal biosimilars market is segmented as:
- Hospital Pharmacies
- Drug Stores
- Retail Pharmacies
Retinal Biosimilars Market: Overview
Although the retinal biosimilars market is in its infancy stage, it is expected to witness robust growth over the coming years, globally. There is high competition in the retinal biosimilars market amongst local and regional players. Among the indication segments, the retinoblastoma and macular degeneration segments are expected to lead in the global retinal biosimilars market. The hospital pharmacies segment by distribution channel is expected to contribute a high market revenue share in the retinal biosimilars market, as it is the most accessible channel with a majority of patients and treatment seekers. The pharmaceutical industry is witnessing various technological advancements, and these advancements offer robust features and facilities to patients, which is further expected to drive the growth of the retinal biosimilars market.
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Retinal Biosimilars Market: Regional Outlook
On the basis of geography, the global retinal biosimilars market is segmented into six key regions, viz. North America, Latin America, Europe, Asia Pacific excluding China, China, and the Middle East & Africa. North America is expected to hold maximum market share in the global retinal biosimilars market, majorly due to the country’s strong economy, increasing patient awareness, technological innovation, and high investments in research and development. Europe is expected to hold the second-highest market share in the global retinal biosimilars market, owing to the increasing prevalence of eye diseases. The Asia Pacific retinal biosimilars market is anticipated to hold a significant share in the global retinal biosimilars market, due to the developing economy and the presence of key manufacturers. The Latin American retinal biosimilars market is expected to show potential growth opportunities in the near future, due to extensive developments in the healthcare infrastructure. However, the Middle East & Africa is expected to register the least market share in the global retinal biosimilars market.
Retinal Biosimilars Market: Key Players
The global market for retinal biosimilars is highly competitive. Examples of some of the key players operating in the global retinal biosimilars market are Reliance Life Sciences, Hetero Drugs Limited, PFENEX INC, Intas Pharmaceuticals, Santo Holding, Sandoz Inc, Genentech USA Inc, Regeneron, Shire Plc, Bayer AG, and others.
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