Cee, Russia & Cis Retinal Biologics Market Research Report Forecast to 2030
The growth of the CEE, Russia & CIS retinal biologics market is attributed to the rising R&D activities in retinal gene therapies, rising efforts for the development of retinal drugs, increasing adoption of retinal biologics for macular degeneration treatment, and increasing prevalence of chronic retinal diseases. However, regulatory obstructions, concerns pertaining to the adverse effects of biologic treatment, and initial high capital investment might hamper the market's growth in the forecast period.
Retinal biologics are drugs that are derived from living organisms or may contain derivatives from living organisms to treat a wide range of retinal disorders. Human eyes are highly delicate and can be affected by the minutest of things. Therefore, its security is of high importance. People across the globe are facing some serious retinal health disorders including diabetic retinopathy, infectious retinitis, age-related macular degeneration, macular edema, retinoblastoma, uveitis, retinal degeneration, retinoschisis, and macular hole.
However, the market is being held back by a lack of retinal biologics, dangerous biologic side effects, and limited access to retinal biologics and efficient treatments due to higher costs. Moreover, the market is being challenged by retinal biologics' side effects, which include retinal tears, sickness, and eye pain. The strict regulatory compliances associated with biologics approval imposed by governing authorities are impeding industry growth.
The growing geriatric population and associated diseases such as age-related macular degeneration (AMD) will be a driving factor in this market's growth. Furthermore, increased smoking and alcohol consumption creates several health issues, including diseases such as hypertension and hypercholesterolemia, which damages retinal vessels eventually will benefit the retinal biologics industry. For instance, according to Eurostat Statistics in 2019, Bulgaria recorded 28.7% consumes tobacco in the form of smoking on a daily basis. Moreover, according to the State Agency for the Prevention of Alcohol-Related Problems (PARPA), alcohol consumption increased by 0.23 liter per capita 2019 from 2018.
Market SegmentationCEE, Russia & CIS retinal biologics market is classified into drug type, distribution channel, indication, and region.
Major PlayersThe key market players are F. Hoffmann-La Roche Ltd., AbbVie Inc., Novartis AG, Bayer AG, and
Amgen Inc.
Companies MentionedF. Hoffmann-La Roche Ltd.
AbbVie Inc.
Novartis AG
Bayer AG
Amgen Inc.
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