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14 Feb, 2022, 08:15 GMT
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Owing to the development of sophisticated therapeutics and the rise in the prevalence of ocular surface injuries, which can contribute to neurotrophic keratitis, are the two key factors affecting the Macular Degeneration Treatment Market growth.
JERSEY CITY, N.J., Feb. 14, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Macular Degeneration Treatment Market" By Type (Wet AMD, Dry AMD), By Stage of Disease (Early-stage AMD, Intermediate AMD, Late-stage AMD), By Route of Administration (Intravenous Route, Intravitreal Route), and By Geography. According to Verified Market Research, the Global Macular Degeneration Treatment Market size was valued at USD 7.45 Billion in 2020 and is projected to reach USD 11.98 Billion by 2028, growing at a CAGR of 6.01% from 2021 to 2028.
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Browse in-depth TOC on "Macular Degeneration Treatment Market"
202 – Pages
126 – Tables
37 – Figures
Global Macular Degeneration Treatment Market Overview
The increasing burden of retinal illnesses, the rise in the elderly population, and increased research and development spending are all contributing to the expansion of the macular degeneration treatment market. According to a study published in the British Journal of Ophthalmology in August 2020 by Jeany Q Li et al., age-related macular degeneration (AMD) is the leading cause of vision impairment and blindness in Europe. A total of 67 million people in Europe suffer from age-related macular degeneration (AMD), with the number anticipated to rise by 15% by 2050 due to population ageing. According to data, the growing number of people suffering from retinal illnesses is directly linked to market growth. Other important drivers driving market expansion include rising R&D investments and rising approvals for new medications.
For example, the United States Food and Drug Administration (FDA) gave GT005, an experimental, one-time AAV-based gene therapy for the treatment of geographic atrophy (GA) secondary to dry age-related macular degeneration, Fast-Track designation in September 2020. (AMD). Gyroscope Therapeutics Limited, a clinical-stage retinal gene therapy firm, developed GT005.Restraints- The market’s growth is hampered by the increased use of off-label medications and a lack of awareness about the disease. Opportunity- Wet macular degeneration is the result of abnormal blood vessel development beneath the retina. These engorged blood vessels leak blood, obstructing central vision and leading to macular degeneration, according to BrightFocus Foundation 2020.
Patients with wet AMD, on the other hand, were given intraocular anti-VEGF injections to safeguard their eyesight. This was administered at the ophthalmologist’s suggested frequency, which varies from patient to patient depending on how active the aberrant blood vessels in the retina are leaking. The growing senior population around the world is driving up demand for wet macular degeneration treatments. According to the United Nations World Ageing 2019 report, East and Southeast Asia comprise the largest percentage of the older population, followed by Europe and North America.
Key Developments in Macular Degeneration Treatment Market
The major players in the market are F Hoffmann-La Roche Ltd, Novartis AG, Pfizer, Kanghong Pharma, Bausch Health Companies Inc., Bayer AG, REGENXBIO Inc., Aerie Pharmaceutical Inc, Regeneron Pharmaceuticals Inc.
Verified Market Research has segmented the Global Macular Degeneration Treatment Market On the basis of Type, Stage of Disease, Route of Administration, and Geography.
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