USD 14.20 billion
Macular Degeneration Treatment Market Size, Share, Growth Analysis, By Treatment Type(Pharmacological interventions and surgical interventions), By Drug Class(Anti-VEGF agents, corticosteroids, and immunosuppressive drugs), By Distribution Channel(Hospital pharmacies, retail pharmacies, and online pharmacies), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35D2192 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
88
|Figures:
76
Macular Degeneration Treatment Market Insights
Macular Degeneration Treatment Market size was valued at USD 15.41 billion in 2022 and is poised to grow from USD 16.71 billion in 2023 to USD 32.11 billion by 2031, growing at a CAGR of 8.5% during the forecast period (2024-2031).
The global macular degeneration treatment market is a rapidly growing and dynamic sector that focuses on providing effective therapeutic solutions for individuals suffering from macular degeneration, a leading cause of vision loss worldwide. With a soaring prevalence of age-related macular degeneration (AMD) and a growing elderly population, the market serves the purpose of addressing the unmet medical needs of patients and improving their quality of life. Several factors act as drivers propelling the growth of the macular degeneration treatment market. Firstly, the aging population, particularly in developed regions, continues to increase, leading to a higher incidence of macular degeneration cases. Additionally, advancements in medical research and treatment have resulted in the development of innovative treatment options, including anti-vascular endothelial growth factor (anti-VEGF) therapies and sustained-release drug delivery systems, which have significantly improved patient outcomes. Furthermore, the rising awareness about early detection and diagnosis of macular degeneration has contributed to an increased demand for effective treatments. However, the market also faces certain restraints that need to be overcome. High treatment costs and limited reimbursement coverage for certain therapies pose challenges to patients seeking treatment. Moreover, the complex regulatory landscape and stringent approval processes for new drugs can impede the market's growth.
Key trends in the market include the adoption of combination therapies and the emergence of gene therapy as a potential treatment option. Combination therapies that target multiple pathways involved in macular degeneration are gaining traction due to their enhanced efficacy and reduced treatment burden. Furthermore, gene therapy approaches, such as gene editing and gene replacement, hold great promise for addressing the underlying genetic factors contributing to macular degeneration. Amidst these challenges and trends, there are several opportunities that present themselves in the macular degeneration treatment market. The untapped potential of emerging markets, such as Asia-Pacific and Latin America, offers significant growth prospects for market players. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) technologies in diagnostics and treatment planning presents new avenues for personalized medicine and improved patient outcomes.
US Macular Degeneration Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Pharmacological Interventions
Fastest Growth
Pharmacological Interventions
Growth Rate
8.5% CAGR
Global Macular Degeneration Treatment Market ($ Bn)
Country Share for North America Region (%)
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Macular Degeneration Treatment Market Segmental Analysis
Global Macular Degeneration Treatment Market is segmented on the basis of Treatment Type, Drug Class, distribution channel, and region. By treatment type, the market is segmented into pharmacological interventions and surgical interventions. By Drug Class, the market is segmented into Anti-VEGF agents, corticosteroids, and immunosuppressive drugs. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Macular Degeneration Treatment Market Analysis By Treatment Type
Among these segments, pharmacological interventions emerge as the largest segment in terms of market share and are expected to maintain their dominance during the forecast period. Pharmacological interventions encompass a wide range of treatment options, including anti-VEGF (vascular endothelial growth factor) drugs, steroids, and other innovative therapies. These interventions are administered through intravitreal injections or oral medications, targeting the underlying causes of macular degeneration and effectively managing the disease progression. The largest segment status of pharmacological interventions can be attributed to several factors. Firstly, anti-VEGF drugs have emerged as the gold standard treatment for wet macular degeneration, the more aggressive form of the disease. These drugs, such as Lucentis, Eylea, and Avastin, work by inhibiting the growth of abnormal blood vessels in the retina, thereby preserving and improving vision in patients.
On the other hand, the fastest-growing segment in the macular degeneration treatment market is surgical interventions. Surgical interventions are gaining momentum due to technological advancements and evolving surgical techniques. These procedures include vitrectomy, retinal transplantation, and implantable devices. Surgical interventions are generally recommended for advanced cases of macular degeneration, where conventional treatments may not yield satisfactory results. The fast growth of the surgical interventions segment can be attributed to several factors. Firstly, advancements in surgical techniques and equipment have improved the success rates and outcomes of these procedures. Minimally invasive techniques, such as micro-incision vitrectomy surgery (MIVS), have reduced post-operative complications and enhanced patient recovery.
Macular Degeneration Treatment Market Analysis By Distribution Channel
Among these segments, retail pharmacies emerge as the largest segment, accounting for a significant share of the market. Retail pharmacies play a crucial role in providing accessible and convenient healthcare services to patients, making them a preferred choice for individuals seeking macular degeneration treatment. These pharmacies are typically located within communities, making it easier for patients to access medications and receive guidance from trained pharmacists. Furthermore, retail pharmacies offer a wide range of products and services related to macular degeneration treatment, including prescription drugs, over-the-counter medications, and specialized eye care products. The availability of a diverse product portfolio allows patients to find suitable treatment options and receive personalized recommendations from healthcare professionals. This factor contributes to the growth of the retail pharmacy segment within the macular degeneration treatment market.
In terms of the fastest-growing segment, online pharmacies are witnessing rapid expansion and are projected to experience substantial growth in the coming years. The increasing adoption of e-commerce platforms and digitalization in the healthcare industry have transformed the way patients access medications. Online pharmacies provide the convenience of ordering medications from the comfort of one's home, eliminating the need for physical visits to traditional brick-and-mortar pharmacies. Additionally, online pharmacies often offer competitive pricing, discounts, and doorstep delivery services, which further attract patients seeking macular degeneration treatment. The rapid growth of the online pharmacy segment is driven by factors such as increasing internet penetration, rising consumer preference for online shopping, and the convenience of home delivery. Moreover, the COVID-19 pandemic has accelerated the adoption of online healthcare services, including online pharmacies, as patients prioritize safety and social distancing. These factors contribute to the significant growth and attractiveness of the online pharmacy segment within the global macular degeneration treatment market.
Global Macular Degeneration Treatment Market By Treatment Type
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Macular Degeneration Treatment Market Regional Insights
North America dominated the macular degeneration treatment market, owing to its robust healthcare infrastructure, increasing prevalence of age-related macular degeneration (AMD), and the presence of key market players. This region has emerged as a frontrunner in developing cutting-edge treatment options for macular degeneration, driving significant market growth. In the United States, pharmaceutical companies are revolutionizing the treatment landscape with the advent of anti-VEGF (vascular endothelial growth factor) therapies. These groundbreaking drugs, such as Lucentis and Eylea, have transformed the treatment paradigm by providing highly effective and minimally invasive solutions. Their widespread adoption has led to substantial market share gains for pharmaceutical giants operating in this region. Canada, another prominent player in North America, has witnessed significant advancements in macular degeneration treatment. The country boasts leading research institutions and ophthalmology centers that are at the forefront of developing innovative therapeutic approaches. Moreover, the Canadian government's focus on improving healthcare access and affordability has further bolstered the market. With the introduction of novel treatments, such as gene therapies and implantable devices, Canada has secured a substantial share in the global macular degeneration treatment market.
The Asia-Pacific region is witnessing remarkable growth in the macular degeneration treatment market, driven by factors such as a rising geriatric population, increasing awareness about eye health, and the adoption of advanced healthcare technologies. Countries like China, India, and Japan are experiencing a surge in demand for effective treatment options, propelling the market forward. China, with its large population and growing elderly demographic, presents a vast opportunity for macular degeneration treatment. The Chinese government's efforts to enhance healthcare infrastructure and promote early diagnosis and treatment have created a favorable environment for market growth. Notably, the country has witnessed the introduction of innovative therapies, including stem cell-based treatments and gene editing techniques, which have garnered substantial attention and market share. India, known for its expertise in the pharmaceutical industry, is emerging as a key player in the macular degeneration treatment market. The country is witnessing the development of cost-effective therapies and diagnostics, making treatment more accessible to a larger population. Additionally, India's growing medical tourism industry attracts patients from around the world, further driving market growth and expanding its market share.
Global Macular Degeneration Treatment Market By Geography
- Largest
- Fastest
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Macular Degeneration Treatment Market Dynamics
Macular Degeneration Treatment Market Drivers
Increasing Aging Population
- The aging population is a significant driver of the macular degeneration treatment market. Macular degeneration primarily affects individuals over the age of 50, and as the global population continues to age, the prevalence of this condition is expected to rise. According to the World Health Organization, the number of people aged 60 years and older is projected to double by 2050. This demographic shift is likely to increase the demand for effective treatments for macular degeneration.
Macular Degeneration Treatment Market Restraints
Stringent Regulatory Requirements
- Regulatory requirements and the lengthy approval process for new treatment options can act as a restraint in the macular degeneration treatment market. Developing new therapies involves rigorous clinical trials, safety evaluations, and regulatory submissions, which can be time-consuming and costly. The complex regulatory environment may deter some pharmaceutical companies from investing in the research and development of new macular degeneration treatments, limiting the availability of innovative options.
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Macular Degeneration Treatment Market Competitive Landscape
The global macular degeneration treatment market is highly competitive and characterized by the presence of several major players. These companies focus on developing innovative therapies and drugs to address the growing demand for effective treatments. Some of the key players in the market often engage in strategic collaborations, partnerships, and mergers and acquisitions to strengthen their market position and expand their product portfolios. Additionally, advancements in treatment and increasing research and development activities further intensify the competition in the market. The competitive landscape is driven by a constant drive for innovation, regulatory approvals, and the ability to provide cost-effective and efficient treatment options to patients with macular degeneration.
Macular Degeneration Treatment Market Top Player’s Company Profiles
- Novartis AG (Switzerland)
- Roche Holding AG (Switzerland)
- Regeneron Pharmaceuticals, Inc. (US)
- Bayer AG (Germany)
- Allergan plc (Ireland)
- Genentech, Inc. (US)
- Santen Pharmaceutical Co., Ltd. (Japan)
- Johnson & Johnson (US)
- Alcon, Inc. (Switzerland)
- Boehringer Ingelheim International GmbH (Germany)
- Ophthotech Corporation (US)
- Bausch Health Companies Inc. (Canada)
- Acucela Inc. (US)
- Graybug Vision, Inc. (US)
- Ohr Pharmaceutical Inc. (US)
- Oxurion NV (Belgium)
- IVERIC bio, Inc. (US)
- Cell Cure Neurosciences Ltd. (Israel)
- BioTime, Inc. (US)
- Neurotech Pharmaceuticals, Inc. (US)
Macular Degeneration Treatment Market Recent Developments
- In November 2022, IVERIC bio, Inc. initiated the submission process for the first part of its New Drug Drug Class (NDA) to the US Food and Drug Administration (FDA) for avacincaptad pegol. This novel investigational drug is a complement C5 inhibitor being developed for the treatment of geographic atrophy (GA) secondary to Age-Related Macular Degeneration (AMD). The submission follows a rolling review process.
- In November 2022, the European Commission granted marketing authorization for Ximluci, which is the third biosimilar of ranibizumab to receive approval in the European Union. The collaboration between STADA Arzneimittel and Xbrane Biopharma resulted in the development of Ximluci, and it is anticipated to be launched in the early months of 2023.
Macular Degeneration Treatment Key Market Trends
- Telemedicine and Remote Monitoring: The adoption of telemedicine and remote monitoring technologies has witnessed a significant surge in the macular degeneration treatment landscape. These technologies allow healthcare providers to remotely assess patients' vision and disease progression, reducing the need for frequent in-person visits. Remote monitoring enables timely intervention and better disease management while improving patient convenience and reducing healthcare costs. For instance, home-based visual acuity testing and smartphone-based imaging devices can aid in monitoring disease progression and treatment response remotely.
Macular Degeneration Treatment Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our Global Macular Degeneration Treatment Market analysis, the global market is witnessing significant growth and is expected to continue expanding in the forecast period. Macular degeneration is a leading cause of vision loss, particularly among the elderly population. The market analysis reveals that the rising prevalence of age-related macular degeneration (AMD) coupled with an increasing geriatric population worldwide is driving the demand for effective treatment options. Additionally, advancements in medical treatment, such as the development of innovative drugs and therapies, are further contributing to the market growth. Moreover, favorable reimbursement policies and government initiatives aimed at promoting awareness and early detection of macular degeneration are boosting market prospects. However, the high cost of treatment and the complex regulatory landscape could pose challenges to market growth. Nevertheless, with ongoing research and development activities, coupled with strategic collaborations between pharmaceutical companies and healthcare providers, the global market is anticipated to witness significant expansion in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.41 billion |
| Market size value in 2031 | USD 32.11 billion |
| Growth Rate | 8.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Macular Degeneration Treatment Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Macular Degeneration Treatment Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Macular Degeneration Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Macular Degeneration Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Macular Degeneration Treatment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Macular Degeneration Treatment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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