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Macular Degeneration Treatment Market- Growth, Trends, and Forecast (2020 - 2025)

Macular Degeneration Treatment Market- Growth, Trends, and Forecast (2020 - 2025)

  • April 2020
  • 118 pages
  • ID: 5891627
  • Format: PDF
  • Mordor Intelligence LLP

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The macular degeneration treatment market was projected to grow with a CAGR of nearly 7.4% during the forecast period. The major factors attributing to the growth of the macular degeneration treatment market are, rise in the incidence of retinal disorders, increasing the geriatric population in the majority of the developing nations. According to the data published in the European Society of Retina Specialists (EURETINA) an estimated number of 33.6 million persons over the age of 60 years in Europe are currently affected by AMD. As per the statistics, the increasing number of individuals with retinal disorders is directly proportional to the market growth. Furthermore, the increasing research and development investments, rising approvals for the new drugs of the treatment are other major factors for the market growth. However, the increasing use of off-label drugs and lack of awareness regarding the disease are the major restraints to the growth of the market.

Key Market Trends
Wet AMD accounts for the Majority of Share in the Market

- Wet macular degeneration is an initiation of atypical growth of blood vessels beneath the retina, these overgrown blood vessels drip blood which impedes clarity of central vision heading to macular degeneration.
- The rising number of geriatric population all over the world is creating the high-level demand in wet macular degeneration market. According to World Health Organization (WHO) report, percentage of old people (above 60 years) is expected to become 21.1% by year 2050. The total number of old age people all over the world is probable to reach 2 billion in 2050. All these statistics represent the high demand for the products for the treatment of wet macular degeneration globally in coming future. The technological advancements in diagnosis of macular degeneration and appropriate reimbursement circumstances are driving the growth of the market.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall macular degeneration treatment market, throughout the forecast period. The market growth is because of more awareness and a greater proportion of total income spent on healthcare compared to other economies. According to BrightFocus Foundation, in 2016, 11 million people in the United States have certain forms of age-related macular degeneration. This number is estimated to reach nearly 22 million by 2050. The growing patient pool and the increasing geriatric population who are more prone to retinal diseases are the two major factors driving the market. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to increase market growth.

Competitive Landscape
The macular degeneration treatment market is moderately competitive and consists of several major players. Some of the companies which are currently dominating the market F. Hoffmann-La Roche Ltd., Novartis AG, Regeneron Pharmaceuticals Inc., Bausch & Lomb Incorporated, IVERIC Bio, Neurotech Pharmaceuticals Inc., Alimera Sciences Inc., StemCells Inc., and Pfizer Inc.

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