- High Prevalence of Age-related Macular Degeneration in Developed Countries Bolsters Pace of Research, Hospitals Rapidly Expanding Avenue
- Broadening Understanding of Eitologies of Age-related Macular Degeneration (AMD) to Aid in Discovery of New, Effective Therapies
ALBANY, N.Y., May 27, 2021 /PRNewswire/ -- Various types of eye disorders pose a high health burden, with the progression leading to loss of vision. Since, the disease grows in burden, age-related macular degeneration (AMD) has been a major cause of loss of vision, notably in developed countries. The prevalence in such countries is so high that is found to be the major cause of blindness in people with more than 60 years age. Worldwide, AMD is found to be a significant cause of all types of blindness, spurring the target populations to seek diagnosis and treatment.
According to a finding published in a recent study on the systematic review in Lancet Global Health, AMD will affect as many as 288 million people world over. The prevalence is high in Asia and Europe. A growing number of patients, incentivized by reimbursement, are preferring hospitals for the treatment, making this as a lucrative segment. Coupled with this, imaging technologies have advanced substantially, expanding canvas for drug makers in the market.
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Drug developers assign high annual cost of therapy (ACOT) for pipeline drugs, pointing to the vast revenue prospects in the macular degeneration treatment market. In this regard, anti-VEGF drugs have shown high potential. The global market is projected to clock CAGR of 6.4% from 2018 to 2026.
Key Findings of Macular Degeneration Treatment Market Study
- Unmet Need for Non-invasive and Affordable Treatments Shapes Product Development Approaches: Macular degeneration affects people of all ages, including children and adolescents. There exists high potential revenues in anti-VEGF segment, which has spurred incredible opportunities in therapies for geographic atrophy, an advanced stage of dry AMD. This will pave way to novel drug candidates. However, the macular degeneration treatment market is moving relatively slow in its growth path due to lack of non-invasive treatments. Also, these usually prove to be costly to the patient population.
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- High Burden of Age-related Macular Degeneration (AMD) Spurs Research: With the rise in elderly people, the AMD is expected to pose huge burden on world's population. Advances in imaging of dry ARMD are boosting the market. Considered as the cause of irreversible blindness, AMD has attracted groundswell of attention among healthcare systems. Thus, there is a high scope for advanced treatments for ARMD especially in developed world. A bulk of investments have come from late stage of dry age-related macular degeneration treatment (dAMD), and wet AMD (wAMD). Thus, drug companies are sure about a good return on investments on the clinical trials they are conducting for novel therapies for these segments.
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Macular Degeneration Treatment Market: Key Driving Factors and Avenues
- Rise in incidence of retinal diseases and their impact as vision loss are driving awareness, boosting market growth
- Strides made in geriatrics care are bolstering therapies for AMD
- Growing awareness about early dry macular degeneration, along with advancements in medical devices used to treat macular degeneration, is a key trend
- Growing number of specialty clinics in the developing world boost market
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Competitive Dynamics in Macular Degeneration Treatment Market
Several players have leveraged licensing agreements and other strategic collaborations to consolidate their position and grow across geographies. A growing number of players are keen on unveiling drugs that might fill the gap after the patent expiry of blockbuster drugs.
Some of the key players in the macular degeneration treatment market are Sanofi, F. Hoffmann-La Roche Ltd., Bayer AG, Valeant Pharmaceuticals International, Inc., Santen Pharmaceuticals Co. Ltd., Pfizer Inc., Novartis AG, and Allergan plc.
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Targeted Therapeutics Market: https://www.transparencymarketresearch.com/targeted-therapeutics-market.html
Retinal Disorders Treatment Market: https://www.transparencymarketresearch.com/retinal-disorders-treatment-market.html
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