NORTH AMERICA AND EUROPE AGE-RELATED MACULAR DEGENERATION THERAPEUTICS MARKET ANALYSIS

Market Challenges And Opportunities

North America and Europe Age-Related Macular Degeneration Therapeutics Market- Drivers

• Increasing geriatric population: Increasing geriatric population is expected to drive the North America & Europe age-related macular degeneration therapeutics market growth over the forecast period. For instance, according to the data published by Statistics Canada on April 27, 2022, over 861,000 people aged 85 and older were counted in the 2021. The population aged 85 and older is one of the fastest-growing age groups, with a 12% increase from 2016. Currently, 2.3% of the population is aged 85 and older. Over the next 25 years (by 2046), the population aged 85 and older could triple to almost 2.5 million people. Such increasing geriatric population increases demand for the age-related macular degeneration therapeutics.
• Increasing research and development activities: Increasing research and development activities is expected to drive the North America & Europe age-related macular degeneration therapeutics market growth. For instance, on February 11, 2022, Regeneron Pharmaceuticals, Inc., a U.S.-based biotechnology company, announced results from its Phase 2 proof-of-concept trial evaluating an investigational 8 mg high dose of aflibercept compared to the currently-approved 2 mg dose of EYLEA (aflibercept) Injection in patients with wet age-related macular degeneration (wet AMD). The results were also to be presented at the Angiogenesis (Angiogenesis, Exudation, and Degeneration) 2022 annual meeting on Saturday, February 12, 2022. The Phase 2 data in wet AMD demonstrate the exciting potential for aflibercept 8 mg to maintain dryness and improve vision compared to the standard-of-care EYLEA.

North America & Europe Age-Related Macular Degeneration Therapeutics Market: Restraints

High cost of treatment

The high cost of treatment is expected to hamper the North America & Europe age-related macular degeneration therapeutics market growth. For instance, according to an article published by the Biomolecules on November 3, 2022, while Anti-VEGF agents have provided a favorable prognosis for nAMD, they are associated with a substantial financial burden for patients and the healthcare system, due to their high cost as well as the need for frequent repeat treatments and visits. Ranibizumab portal delivery system (RPDS) used in age-related macular degeneration with fixed 6-months refills over a one-year duration cost US$ 21,016. The monthly intravitreal injections of ranibizumab cost US$ 1943, aflibercept cost US$ 5702, and bevacizumab cost US$ 16,732. Such high cost of medication can restrain market growth.

To counterbalance this restraint, a reimbursement policies should be introduce to reduce overall cost of treatment.

Side effects of wet AMD treatment

Side effects of wet AMD treatment is expected to hamper the North America & Europe age-related macular degeneration therapeutics market growth. For instance, according to an article published in the Journal of Ophthalmic and Vision Research on October 25, 2021, there are various wet AMD medications that have a variety of side effects. Effects including retinal vasculitis, intraocular inflammation, concurrent vascular occlusion, nausea, vomiting, and permanent vision loss in individuals are anticipated. Few reported side effects like lenticular opacities, punctate keratitis, corneal abrasion, posterior capsule opacification, cataract, increased intraocular pressure, blepharitis, conjunctivitis, and iritis. This inhibits market expansion.

To counterbalance this restrain, more research should be carried out to reduce side effects associated with treatment.