MACULAR DEGENERATION TREATMENT MARKET ANALYSIS

Macular Degeneration is an eye disease affecting the macula (the centre of the light-sensitive retina at the back of the eye), causing loss of central vision. Age-related macular degeneration (AMD) is an eye disease that can blur central vision. It happens when aging causes damage to the macula, part of the retina (the light-sensitive tissue at the back of the eye). There are 2 types of age-related macular degeneration, such as dry and wet. Most people with AMD have dry AMD. This is when the macula gets thinner with age. Dry macular degeneration is a common eye disorder among people over 50. Wet AMD causes rapid and progressive central vision loss due to leaking blood vessels in the eyes. However, there is no cure, but treatment for macular degeneration (AMD) may slow the disease and keep people from having a severe loss of vision. Consult a doctor about the best way to manage the condition.

Market Statistics:

The global macular degeneration treatment market was valued at US$ 8,208.7 Mn in 2021 and is forecast to reach a value of US$ 13,195.7 Mn by 2028 at a CAGR of 7.0% between 2022 and 2028.

North America held dominant position in the global macular degeneration treatment market in 2020, accounting for 38.5% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Macular Degeneration Treatment Market Share (%), by Region, 2021

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Recent Developments:

In February 2021, Roche announced detailed results from phase III studies of its investigational bispecific antibody, faricimab, for the treatment of diabetic macular edema and neovascular or wet age-related macular degeneration (nAMD).

In February 2020, Novartis received a European Commission approval for marketing of Beovu. It is an anti-VEGF agent used for treating wet-AMD patients.

Market Drivers:

1. Increasing burden of retinal disorders worldwide is expected to propel growth of the global macular degeneration treatment market over the forecast period. For instance, retinal disorders have emerged as potential threats in both developed and developing countries. The prevalence retinal disorders is increasing, and as a result, vision loss is becoming a major public health concern. According to the BrightFocus Foundation (brightfocus.org), around 11 million people in the United States have some form of age-related macular degeneration, and this number is expected to reach around 22 million by 2050.
2. Growing geriatric population across the globe is expected to boost the growth of the global macular degeneration treatment market during the forecast period. Retinal disorders increased with ageing. AMD is the most common cause of blindness prevalent in developed countries, particularly in people older than 60 years. According to the World Health Organization (WHO), in 2019, the number of people aged 60 years and older was 1 billion. This number is expected to reach around 1.4 billion by 2030 and 2.1 billion by 2050.

Figure 2. . Global Macular Degeneration Treatment Market Share (%) in Terms of Value, by Type, 2021

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Market Restraints:

1. Lack of awareness regarding macular degeneration is expected to hamper the growth of the global macular degeneration treatment market. AMD is a major cause of irreversible blindness, and awareness regarding AMD is important to prevent a blindness. However, lack of awareness among people about AMD is significantly low, especially in developing countries. Large-scale public campaigns and educational programs are essential to raise awareness regarding AMD.
2. Increasing usage of off-label medications is expected to hinder growth of the global macular degeneration treatment market. Off-label drug use refers to the practice of prescribing a drug for a different purpose than what the FDA approved. In September 2019, MHRA (Medicines and Healthcare products Regulatory Agency) has clarified its position on the use of Roche's Avastin off-label as the treatment for wet AMD. In 2018, the High Court ruled that CCGs can prescribe Bevacizumab (Avastin) off-label for wet AMD.

Market Opportunities:

1. Increasing demand for safe and effective treatment is expected to provide significant growth opportunities for players in the global macular degeneration treatment market. For instance, Age-related macular degeneration is prevalent and debilitating disease with the rise in demand for treatment. There is no cure, but treatment may slow the disease and keep people from vision loss. In May 2022, Chugai Pharmaceutical Co., Ltd. launched Vabysmo Intravitreal Injection 120 mg/mL for the treatment of AMD associated with subfoveal choroidal neovascularization and diabetic macular edema (DME).
2. Rise in awareness among people about macular degeneration is expected to offer lucrative growth opportunities for players in the macular degeneration treatment market. For instance, AMD is a major cause of irreversible blindness, and awareness regarding AMD is important to prevent a blindness. Large-scale campaigns & programs are essential to raise awareness among people regarding AMD. The National Eye Health Education Program (NEHEP) is dedicated to raising awareness, especially in February, about vision and aging.

Market Trends/Key Takeaways:

1. Frequent approvals and launches of novel products is expected to drive growth of the global macular degeneration treatment market. For instance, in October 2021, Roche announced that the Food and Drug Administration (FDA) has approved Susvimo (100 mg/mL ranibizumab injection) for the treatment of wet, or neovascular, age-related macular degeneration (AMD), a condition that can lead to rapid and severe loss of vision.
2. Introduction of novel products by market players is expected to augment the growth of the global macular degeneration treatment market. For instance, in September 2019, Boehringer Ingelheim and Inflammasome Therapeutics Inc. signed an agreement to develop three therapies for patients suffering with retinal diseases such as age-related macular degeneration (AMD), diabetic macular edema (DME), and diabetic retinopathy (DR).

Competitive Landscape:

1. Hoffmann-La Roche Ltd
2. Novartis AG
3. Pfizer Inc.
4. Panoptica
5. Bausch Health Companies Inc.
6. Regeneron Pharmaceutical Inc.
7. Aerie Pharmaceutical Inc.
8. REGENXBIO Inc.
9. Bayer AG