- Massive need for effective treatments for wet age-related macular degeneration presents vast value-grab opportunity for firms in macular degeneration treatment market; growing adoption of anti-VEGF medications for age-related macular degeneration (AMD) propelling revenue generation
- Europe market to expand at promising pace, spurred by new product launches; enormous demand for treatments at hospitals, especially in elderly
WILMINGTON, Del., Sept. 21, 2022 /PRNewswire/ — Rise in demand for treatments for wet age-related macular degeneration has propelled substantial revenue streams in the market over the years. The segment was the largest revenue generator in macular degeneration treatment market in 2021, and is projected to expand rapidly during the forecast period. The growing burden of retinal disorders has spurred the demand for products in the macular degeneration treatment market. The size of the overall market is estimated to exceed US$ 21.1 Bn by 2031.
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Recent developments in macular degeneration treatment market underscores that key players are leaning on developing longer-acting anti-VEGF to capture significant revenue shares. High burden of age-related macular degeneration (AMD), pivoting on rapidly aging populations in industrialized nations, underpins enormous revenue potential.
Growing awareness about effectiveness of intravitreal injections (IVT) for wet AMD has steered revenue generation in macular degeneration treatment market. Many leading players in the macular degeneration treatment market are actively involved in increasing the safety and efficacy of therapies based on anti-vascular endothelial growth factors. R&D on vascular endothelial growth factor (VEGF) will thus create lucrative future market demand for macular degeneration treatment.
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Key Findings of Macular Degeneration Treatment Market Study
- Abundant Demand for Therapies for Managing Wet Age-Related Macular Degeneration: Massive demand for therapies for wet (exudative or neovascular) age-related macular degeneration is boosting the market growth. Wet AMD is a major cause of visual impairments in elderly, and thus presents a vast avenue. Increase in number of FDA approval of injections has reinforced the growth prospects of macular degeneration treatment market. Wet AMD presents fastest growing market for macular degeneration treatment. Meanwhile, the study authors found that the adoption of treatments for age-related macular degeneration (AMD) underpins enormous revenue streams. Players are launching novel drugs to gain competitive edge over others.
- Massive Demand for Treatment in Hospital Settings: Developed countries are witnessing high prevalence of AMD. Of note, the diagnosis of new cases of AMD in hospitals has fueled the need for macular degeneration treatments. The hospital segment is expected to account for the majority of share by the end of 2031.
Macular Degeneration Treatment Market: Key Drivers
- Growing awareness of the prevalence and burden of age-related macular degeneration especially in developed countries is a key driver of macular degeneration treatment market. In patients with age more than 60 years, AMD is one of the most common causes of vision loss and vision impairments.
- Growing R&D on vascular endothelial growth factor (VEGF) has helped in the development of more effective therapies, thereby expanding avenues in the macular degeneration treatment market. Increase of prevalence of retinal disorders with age is a key trend that presents untapped revenue potential for market players.
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Macular Degeneration Treatment Market: Regional Growth Dynamics
- North America held a major share of the global macular degeneration treatment market in 2021. Substantial adoption rate of products in the U.S. has generated sizable lucrative opportunities. Additionally, rise in product launches in the U.S. has also reinforced the revenue streams.
- Europe holds a key market share in 2021, and is projected to expand at a rapid pace during the forecast period of 2022–2031. Widespread demand for branded drugs and the introduction of new drugs for macular degeneration are invigorating the growth prospects of the Europe macular degeneration treatment market.
- Asia Pacific is a lucrative region in macular degeneration treatment market. Growing diagnosis of AMD has catalyzed the need for the treatment.
Macular Degeneration Treatment Market: Competition Landscape
The presence of several large players vying for significant share of the global market makes the competition landscape highly fragmented. Some of the key players are Santen Pharmaceutical Co., Ltd., Novartis AG, Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Bayer AG, Pfizer, Inc., and AbbVie, Inc.
Macular Degeneration Treatment Market Segmentation
- Disease Indication
- Wet Age-related Macular Degeneration
- Dry Age-related Macular Degeneration
- Others
- Drug Class
- Anti-vascular Endothelial Growth Factor
- Others
- Distribution Channel
- Hospitals
- Ophthalmology Clinics
- Ambulatory Surgical Centers
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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