Central vision loss is brought on by the eye condition macular degeneration, which affects the macula (the centre of the light-sensitive retina at the rear of the eye). AMD is an eye condition that can cause central vision to become blurry. It takes place when ageing damages the macula, a portion of the retina (the light-sensitive tissue at the back of the eye). Age-related macular degeneration comes in two different forms, dry and moist. Dry AMD is the most common kind of AMD. At this point in life, the macula begins to thin. Among adults over 50, dry macular degeneration is a prevalent eye condition. Wet AMD results in leaky blood vessels in the eyes, which rapidly and gradually reduce central vision. Although there is no known therapy for macular degeneration (AMD), it can be slowed down and prevent catastrophic visual loss. A doctor can advise you on the most effective treatment for the disease.
Click Here to Get a Sample Copy @ https://www.coherentmarketinsights.com/insight/request-sample/5149
Market Statistics
Treatments for macular degeneration are expected to generate a market worth US$ 8,208.7 million in 2021 and US$ 13,195.7 million in 2028, growing at a 7.0% CAGR.
In terms of volume, North America accounted for 38.5% of the global market for macular degeneration treatments in 2020, followed by Europe and Asia Pacific, in that order.
Recent Developments
The phase III tests of Roche’s experimental bispecific antibody, faricimab, for the treatment of diabetic macular edoema and neovascular or wet age-related macular degeneration, yielded comprehensive data in February 2021. (nAMD).
Novartis gained authorization from the European Commission to sell Beovu in February 2020. It is an anti-VEGF medication used to treat individuals with wet AMD.
Market Drivers
Over the projected period, it is anticipated that the prevalence of retinal illnesses would rise, driving the growth of the global macular degeneration treatment market. For instance, both industrialised and developing nations are beginning to see retinal problems as possible risks. As retinal problems become more common, vision loss is turning into a significant public health issue. Around 11 million Americans already suffer from some kind of age-related macular degeneration, and by 2050, this figure is projected to rise to around 22 million, according to the BrightFocus Foundation (brightfocus.org).
During the projected period, an increasing elderly population is anticipated to support the growth of the worldwide macular degeneration treatment market. Age-related increases in retinal diseases. In industrialised nations, AMD is the most frequent cause of blindness, especially in persons over 60. The World Health Organization (WHO) estimates that 1 billion individuals were 60 years of age or older in 2019. By 2030, this number should be about 1.4 billion, and by 2050, it should be 2.1 billion.
Market Restraints
The expansion of the global market for macular degeneration treatments is anticipated to be constrained by a lack of knowledge about macular degeneration. A major contributor to permanent blindness, AMD must be understood in order to avoid blindness. However, there is a very low level of public knowledge about AMD, particularly in underdeveloped nations. To increase public knowledge about AMD, massive public campaigns and educational initiatives are necessary.
The global market for treating macular degeneration is anticipated to see growing challenges due to the rising use of off-label drugs. The practise of prescribing a medicine for a use other than what the FDA has permitted is known as using a drug “off-label.” The MHRA (Medicines and Healthcare Products Regulatory Agency) revised its stance on the off-label use of Roche’s Avastin in September 2019. The High Court determined in 2018 that CCGs may recommend Bevacizumab (Avastin) for wet AMD outside of the approved label.
Market Opportunities
Players in the worldwide macular degeneration treatment market should have tremendous development potential due to the rising demand for safe and effective treatments. For instance, the rising need for therapy makes age-related macular degeneration a common and crippling condition. Although there is no therapy for the condition, it may be slowed down and prevent eyesight loss. Chugai Pharmaceutical Co., Ltd. introduced Vabysmo Intravitreal Injection 120 mg/mL in May 2022 to treat AMD brought on by diabetic macular edoema and subfoveal choroidal neovascularization (DME).
Macular degeneration therapy market participants should benefit from attractive development prospects as public knowledge of the condition increases. For instance, AMD is a significant contributor to permanent blindness, hence raising awareness of AMD is crucial to preventing blindness. To increase public awareness about AMD, massive efforts and activities are necessary. The National Eye Health Education Program (NEHEP) is committed to spreading knowledge about vision and ageing, particularly in the month of February.
Market Trends/Key Takeaways
The worldwide market for macular degeneration treatments is anticipated to expand as a result of frequent approvals and launches of innovative medications. For example, Roche said that the FDA has authorized Susvimo for the cure of moist, or focuses on internal, age-related macular degeneration (AMD), a disease that can cause a sudden and severe loss of vision.
The launch of innovative products by market participants is anticipated to accelerate the growth of the global market for macular degeneration treatments. For example, Inflammasome Therapeutics Inc. and Boehringer Ingelheim inked a contract in September 2019 to research three medicines for patients with retinal illnesses such as age-related macular degeneration (AMD), diabetic macular edema (DME), and diabetic retinopathy (DR).
Competitive Landscape
Includes Bayer AG, Hoffmann-La Roche Ltd, REGENXBIO Inc., Novartis AG, Aerie Pharmaceutical Inc., Pfizer Inc., Regeneron Pharmaceutical Inc., Panoptica, and Bausch Health Companies Inc.
Ask For Discount Before Purchasing This Business Report : https://www.coherentmarketinsights.com/insight/request-discount/5149
Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Macular Degeneration Treatment Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Macular Degeneration Treatment Industry Impact
Chapter 2 Global Macular Degeneration Treatment Competition by Types, Applications, and Top Regions and Countries
2.1 Global Macular Degeneration Treatment (Volume and Value) by Type
2.3 Global Macular Degeneration Treatment (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Macular Degeneration Treatment Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Macular Degeneration Treatment Market Analysis
Chapter 6 East Asia Macular Degeneration Treatment Market Analysis
Chapter 7 Europe Macular Degeneration Treatment Market Analysis
Chapter 8 South Asia Macular Degeneration Treatment Market Analysis
Chapter 9 Southeast Asia Macular Degeneration Treatment Market Analysis
Chapter 10 Middle East Macular Degeneration Treatment Market Analysis
Chapter 11 Africa Macular Degeneration Treatment Market Analysis
Chapter 12 Oceania Macular Degeneration Treatment Market Analysis
Chapter 13 South America Macular Degeneration Treatment Market Analysis
Chapter 14 Company Profiles and Key Figures in Macular Degeneration Treatment Business
Chapter 15 Global Macular Degeneration Treatment Market Forecast (2022-2028)
Chapter 16 Conclusions
Research Methodology
Buy This Complete Business Report @ https://www.coherentmarketinsights.com/insight/buy-now/5149
About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Contact:
Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837