Macular Degeneration Treatment Market Outlook 2031
- The global macular degeneration treatment market was valued at US$ 9.0 Bn in 2021
- The global market is projected to grow at a CAGR of 8.8% from 2022 to 2031
- The global macular degeneration treatment market is anticipated to reach more than US$ 21.1 Bn by the end of 2031
Macular Degeneration Treatment Market Introduction
Treatment innovations for macular degeneration are providing hope that the disease could be cured one day. Promising treatments are dependent on the stage of disease progression. Nutritional therapy can help in dry macular degeneration treatment during the early stage of the disease. It includes a healthy diet that is high in antioxidants to support the cells of the macula. If macular degeneration is advanced but still dry, supplements to increase the number of certain vitamins and minerals that could increase healthy pigments and support cell structure are prescribed. Each affected eye is assigned to either laser treatment or observation at random. Laser treatment reduces the risk of severe visual loss in eligible eyes with CNV in extrafoveal, juxtafoveal, and subfoveal locations.
Read Report Overview: https://www.transparencymarketresearch.com/macular-degeneration-treatment-market.html
Technological Advancements and Promising Pipeline Products to Drive Global Market
Rise in prevalence of age-related macular degeneration (AMD) is primarily expected to propel the global macular degeneration treatment market in the next few years. Increase in healthcare spending and rise in patient awareness are also likely to fuel the global market during the forecast period. Launch of novel products for the treatment of geographic atrophy, late stage of dry age-related macular degeneration treatment (dAMD), and wet AMD (wAMD) are projected to augment the age-related macular degeneration market. Drugs such as Apellis’ APL-2, Ophthotech’s Zimura, and Novartis’ brolucizumab, a longer-acting anti-VEGF, are anticipated to drive the global macular degeneration treatment market size in the near future. In particular, the launch of drugs in the AMD market to treat dAMD is anticipated to be a major driver, as currently, no prescription medications are available for this condition.
High Cost of Patented Drugs Restraining Global Market
Patent expiry is likely to pose a threat to the market players' expansion strategies. On the other hand, exorbitant pricing may not be a good strategy to adopt for players who hold patents for their drugs. For instance, the patent for Lucentis expired in the U.S. in 2020, while its European patent expired in July 2022. Several companies are in the race to introduce Lucentis biosimilar for the monthly treatment of neovascular age-related macular degeneration treatment (nAMD). Lack of prescription drugs in the international AMD market is expected to hamper demand in the near future.
Request a PDF Sample @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=60645
Increase in Number of Treatments Fueling Wet AMD Segment
In terms of disease indication, the global maculation degeneration market has been bifurcated into wet age-related macular degeneration and dry age-related macular degeneration. The wet age-related macular degeneration segment accounted for major share of the global market in 2021. Wet AMD is treated with intravitreal injections (IVT), with an estimated 22.3 million procedures performed globally in 2017. Around 75% of anti-VEGF injections were given to treat wet AMD. High prevalence of the condition, branded medications, growth in awareness, and increase in the number of treatments for wet AMD contributed to the segment's dominant market share.
Large Patient Population Driving Anti-vascular Endothelial Growth Factors Segment
Based on drug class, the global macular degeneration treatment market has been bifurcated into anti-vascular endothelial growth factors and others. Blinding retinal conditions, such as diabetic macular edoema (DME), age-related macular degeneration (AMD), and retinal diseases, are largely attributed to the pathogenesis of vascular endothelial growth factor (VEGF). It has been demonstrated that inhibiting VEGF activity within the eye can improve and restore visual function in AMD patients. Direct macular degeneration injections of anti-VEGF medications are made into the eye's vitreous cavity. Large patient pool across the globe is another factor likely to propel the anti-vascular endothelial growth factors segment in the near future.
Request Report Methodology@ https://www.transparencymarketresearch.com/sample/sample.php?flag=RRM&rep_id=60645
Majority of New AMD Cases in Developed Countries Treated in Hospitals
In terms of distribution channel, the global macular degeneration treatment market has been divided into hospitals, ophthalmology clinics, and ambulatory surgical centers. The hospitals segment is expected to account for more than 51.6% share of the global market by 2031. The segment is likely to grow at a CAGR of 6.6% during the forecast period. Hospitals treat the majority of new AMD cases in developed countries.
Regional Outlook of Global Macular Degeneration Treatment Market
North America accounted for the largest global macular degeneration treatment market share in 2021. The trend is projected to continue during the forecast period. Adoption rate of prescription AMD drugs is high in the U.S., and the number of new drug approvals in the country is increasing.
Europe accounted for more than 32.1% share of the global macular degeneration treatment market in 2021. The macular degeneration treatment market in the region is expected to grow at a rapid pace during the forecast period due to large unmet needs and increase in purchasing power to obtain branded drugs. Improvement in lifestyle, particularly among the urban population, and the introduction of new drugs for macular degeneration are expected to boost the demand for macular degeneration treatment drugs in Europe.
Make an Enquiry Before Buying @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=60645
Asia Pacific accounted for more than 13% share of the global market in 2021 due to large population base and increase in treatment adoption rate in the region. Rise in disposable income and health awareness have increased the diagnosis and treatment rates. This has resulted in a rise in number of macular degeneration drugs in the market. Key players are investing significantly to establish themselves in Asia Pacific. This is expected to augment the market in the region.
Analysis of Key Players in Global Macular Degeneration Treatment Market
The global macular degeneration treatment market is fragmented, with the presence of a vast number of large-scale players. Key players operating in the global macular degeneration treatment market include AbbVie, Inc., Pfizer, Inc., Bayer AG, F. Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Novartis AG, and Santen Pharmaceutical Co., Ltd. These players are adopting growth strategies such as new product development, product launches, agreements, partnerships, and mergers.
More Trending Healthcare Industry Reports by Transparency Market Research:
Chronic Pelvic Pain Treatment Market: https://www.transparencymarketresearch.com/chronic-pelvic-pain-treatment-market.html
Nonalcoholic Steatohepatitis Therapeutics Market: https://www.transparencymarketresearch.com/nonalcoholic-steatohepatitis-market.html
Psoriasis Treatment Market: https://www.transparencymarketresearch.com/psoriasis-treatment-market.html
Antihypertensive Drugs Market: https://www.transparencymarketresearch.com/antihypertensive-drugs-market.html
Controlled Substance Market: https://www.transparencymarketresearch.com/us-controlled-substance-market.html
Surgical Site Infections Market: https://www.transparencymarketresearch.com/surgical-site-infections-market.html
Tablet Coatings Market: https://www.transparencymarketresearch.com/tablet-coatings-market.html
Cannabinoids Market: https://www.transparencymarketresearch.com/cannabinoids-market.html
About Us
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
For More Research Insights on Leading Industries, Visit Our YouTube Channel and hit subscribe for Future Update - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ
Contact
Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: [email protected]
Macular Degeneration Treatment Market is also known as age-related macular degeneration (AMD) is a neurodegenerative ocular disorder that destroy the part of the eye called the macula which provides sharp, central vision needed for seeing objects clearly.
When macula degenerates, it causes loss of central vision.
It occurs when the capillaries around the fovea widen (become dilated) and leak, results in fluid build-up which impairing reflection of light and causing progressive vision loss.
The first symptom usually is a night blindness as disease progress person develops tunnel vision and eventually leads to loss of central vision.According to the statistics published in the press release by Neurotech, an estimated population of Macular telangiectasia type 2 is nearly around 1 per 22,000 worldwide.
High demand of novel treatment and huge investment on research and development are drivers for market growth.macular degeneration treatment market is expected to grow at a steady CAGR in the forecast period of 2019-2026.
The report also recognizes and analyses the rising trends along with major drivers, challenges and opportunities in the market.
