Major players in the macular degeneration treatment market are Novartis AG, Bausch Health Companies Inc., Regenxbio Inc., F Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals Inc., GlaxoSmithKline plc, Bayer AG, Neurotech Pharmaceuticals Inc.
New York, March 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Macular Degeneration Treatment Global Market Report 2023" - https://www.reportlinker.com/p06433223/?utm_source=GNW
, Ophthotech Corporation, StemCells Inc., Pfizer Inc., Santen Pharmaceuticals, Alimera Sciences Inc., Aerie Pharmaceutical Inc., Panoptica, Allergan Inc., Valeant Pharmaceuticals, and Rxi Pharmaceuticals Inc.
The global macular degeneration treatment market grew from $8.44 billion in 2022 to $9.43 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The macular degeneration treatment market is expected to grow to $14.3 billion in 2027 at a CAGR of 11.0%.
The macular degeneration treatment market includes revenues earned by entities by anti-angiogenic drugs, photodynamic therapy, laser therapy and low vision aids.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Macula refers to the central portion of the retina, a light-sensitive layer of tissue at the back of the eye.The macula is responsible for central vision.
Degeneration of the macula, which affects the central part of the retina (the macula) and results in distortion or loss of central vision, occurs most commonly after the age of 60 and is referred to as age-related macular generation (AMD). The macular degeneration treatment is used to treat macular degeneration eye disease and slow the disease and prevent severe loss of vision.
In 2022, North America will be the largest region in the macular degeneration treatment market.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the macular degeneration treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The main disease stages in the macular degeneration treatment market are early-stage AMD, intermediate AMD, and late-stage AMD.In early-stage AMD, the macula changes, with medium-sized drusen deposits and no pigment changes, but this does not impact vision.
Intermediate AMD is when vision may get blurry or wavy with large drusen or pigment changes.In late-stage AMD, the central vision fails completely, causing vision loss.
The different types of macular degeneration treatments include wet macular degeneration and dry macular degeneration. The different routes of administration of macular degeneration treatment include oral, injectable, and others used by different end-users such as ambulatory surgical centers, ophthalmic clinics, and hospitals.
The increasing burden of retinal disorders is expected to propel the growth of the macular degeneration treatment market.Retinal disorders affect the vital tissue and affect the way individuals process visual information, leading to distorted or absent vision.
According to a study done in Tanzania in 2020 about the prevalence of retinal diseases and associated risk factors, out of 1,007 people, the prevalence of vitreoretinal disorders was 22.8% (230/1,007). The study was conducted by OSLI Retina, which focuses solely on retinal diseases, surgery, and pharmacotherapy. The leading retinal diseases were age-related hypertensive macular scars (2.7%), retinopathy (4.5%), and degeneration (7.0%). According to the American Academy of Opthalmology, in 2050, an estimated 7.32 million people in the United States will have primary open-angle glaucoma, with the highest numbers among populations aged 70 to 79 years (32%), women (50%), and Hispanics (50%). The largest demographic group is Hispanic men. Therefore, the increasing burden of retinal disorders is driving the growth of the macular degeneration treatment market.
The development of advanced therapies is a key trend gaining popularity in the macular degeneration treatment market.Advanced therapy, including gene therapy, for the treatment of disease has seen development in recent years, particularly in the world of inherited retinal disease.
For instance, in October 2021, Genentech, a US-based biotechnology company, announced that FDA has approved Susvimo, a new treatment for wet age-related macular degeneration.Susvimo is the first wet AMD treatment to offer an alternative to the standard-of-care eye injections required as frequently as once per month in the last 15 years.
Susvimo will help people with wet AMD retain their vision with as few as two treatments per year by continually injecting medication into the eye via a refillable implant.
In September 2021, Novartis, a Swiss-based pharmaceutical company, acquired Arctos Medical for an undisclosed amount.The acquisition is expected to allow Novartis to find treatments for patients with vision loss and leverage the potential of optogenetics as the basis of successful therapeutics.
Arctos Medical is a Switzerland-based developer of smart medical devices and gene therapy approaches for ophthalmological diseases for treating blindness.
The countries covered in the Macular Degeneration Treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The macular degeneration treatment research report is one of a series of new reports that provides macular degeneration treatment statistics, including macular degeneration treatment industry global market size, regional shares, competitors with macular degeneration treatment shares, detailed macular degeneration treatment segments, market trends and opportunities, and any further data you may need to thrive in the macular degeneration treatment industry. This macular degeneration treatment research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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