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Juvenile Macular Degeneration Market Share

ID: MRFR//3504-CR | 119 Pages | Author: Rahul Gotadki| July 2019

The Juvenile Macular Degeneration (JMD) market is characterized by the prevalence of diverse subtypes and a diverse affected person populace. Stakeholders must first recognize the particular challenges and opportunities within this area of interest in the healthcare segment. Effectively positioning merchandise inside the JMD market requires a nuanced understanding of its segmentation. Identifying awesome subtypes, age companies, and genetic elements permits pharmaceutical companies to tailor their strategies for precise affected person needs. Given the hereditary nature of many JMD cases, emphasizing genetic healing procedures becomes an important market share positioning approach. Companies investing in studies and the development of gene-based total treatments can position themselves as leaders in addressing the foundational reasons for juvenile macular degeneration.
To give a boost to market positioning, businesses need not forget collaborations and partnerships with research establishments, healthcare companies, and patient advocacy organizations. Such alliances now not only decorate credibility but also facilitate entry to vital information and assets for ongoing advancements. Ensuring accessibility and affordability of JMD remedies is paramount. Companies adopting pricing strategies that balance profitability with affordability can widen their market reach and make contributions to positive brand perception. Streamlining regulatory tactics and securing speedy-tune approvals for JMD remedies can considerably affect market proportion. Proactively engaging with regulatory bodies and retaining compliance fosters a competitive side in the swiftly evolving landscape of rare disease treatments. Educating each healthcare specialist and the general public about juvenile macular degeneration is a pivotal aspect of market positioning. Increased recognition not only aids in early diagnosis but also guarantees that the market acknowledges and values progressive answers.
Given the global nature of healthcare markets, businesses need to remember to expand their presence past regional limitations. Identifying key markets with a high occurrence of JMD and tailoring marketing strategies to numerous cultural contexts can decorate the average market percentage. Staying at the leading edge of JMD research and development is essential for sustained market management. Companies should put money into a strong pipeline of modern treatments, ensuring a non-stop drift of novel therapeutic options to fulfill evolving patient wishes. Leveraging records analytics for market insights can manual strategic decision-making. Recognizing the economic diversity in the JMD-affected person populace, agencies can adopt flexible pricing models. This method accommodates various monetary capacities and reinforces the commitment to creating remedies available to a broader spectrum of sufferers.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2023
Forecast Period	2024-2032
Growth Rate	7.36%

Juvenile Macular Degeneration Market Highlights:

Juvenile Macular Degeneration Market Trends

Juvenile Macular Degeneration Market Analysis

Juvenile Macular Degeneration Market Share

Juvenile Macular Degeneration Companies

Juvenile Macular Degeneration Market Overview :

Juvenile Macular Degeneration (Stargardt Disease) Market Size was valued at USD 1.44 Billion in 2023. The Global Juvenile Macular Degeneration (Stargardt Disease) industry is projected to grow from USD 1.52 Billion in 2024 to USD 1.85 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.36% during the forecast period (2024 - 2032).

Juvenile macular degeneration is a genetic eye disorder that causes progressive vision loss. This disorder affects the retina, the specialized light-sensitive tissue that lines the back of the eye. Specifically, juvenile macular degeneration affects a small area near the center of the retina called the macula. The macula is responsible for sharp central vision, which is needed for detailed tasks such as reading, driving, and recognizing faces. The market is mainly driven by factors such as the increasing prevalence of eye disorders, development of new drugs and therapies, and emerging government policies. However, the high cost of treatment and lack of reimbursement is expected to restrain the growth of this market.

Market Dynamics

The rising prevalence of eye disorder and technological advancements in juvenile macular degeneration are some of the factors that drive the growth of the market. Juvenile macular degeneration is a rare inherited eye condition which affects the central area of the retina called the macula, also known as fundus flavimaculatus. It affects about 1 in 10,000 people and is sometimes called juvenile macular dystrophy since it tends to first appear between the ages of 10 to 20 although visual impairment may not be apparent until as late as ages 30 to 40. Juvenile macular degeneration disease causes parts of the macula to stop working, leading to problems with central vision, detailed vision, and sometimes with color perception. The major driving factors for the global juvenile macular degeneration market are increasing the prevalence of eye disorders, development of new drugs, and therapies, and emerging government policies. However, lack of awareness and no treatment option for juvenile macular dystrophy may hamper the market growth.

Global Juvenile Macular Degeneration (Stargardt Disease) Market Size, by Diagnosis, 2016 and 2027 (USD Million)

Source: MRFR Analysis

Segmentation

The global juvenile macular degeneration (Stargardt disease) market has been segmented into diagnosis, management, and end user. Based on the diagnosis, the market has been segregated into fluorescein angiography (FA), fundus autofluorescence (FAF), optical coherence tomography (OCT), and electroretinography (ERG). The FA segment accounted for a market value of USD 270.110 million in 2016. Based on management, the market has been segregated into magnifying spectacles, magnifiers, and reading telescopes. The global juvenile macular degeneration (Stargardt disease) market on the basis of end-user is divided into hospital & eye clinics, and research & academic institutes.

Key Players

The prominent players in the global juvenile macular degeneration (Stargardt disease) market are Astellas Pharma Inc (Japan), Sanofi (France), Acucela Inc (Japan), Alkeus Pharma (US), Copernicus Therapeutics (US), Ophthotech Corporation (US), Bayer AG (Germany), Oxford BioMedica PLC (UK), and Grupo Ferrer (Spain).

Some of the key strategies followed by the players operating in the global juvenile macular degeneration (Stargardt disease) market were innovation, product development, acquisition, mergers, and expansion.

Global Juvenile Macular Degeneration (Stargardt Disease) Market Share, by Region, 2016 (%)

Source: MRFR Analysis

Regional Analysis

The global juvenile macular degeneration (Stargardt disease) market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

Europe accounted for the significant share in the market for juvenile macular degeneration. Rising investment in research & development, well-developed healthcare infrastructure, and increasing healthcare funds are some of the factors responsible for boosting the growth of the market in this region. Europe held the most significant market share of 32.7 % in 2016.

Americas is estimated to be the second-largest market. This is attributed due to the well-developed technology, rising healthcare expenditure, and the presence of the leading players in the market.

Asia-Pacific is projected to be the fastest-growing market due to the rising aging population, increasing healthcare expenditure, and rapidly changing healthcare sector. In addition to this, improving healthcare facilities and rising economic growth is positively impacting the market growth in this region.

The market in the Middle East & Africa is expected to witness steady growth due to increasing investments in research & development, well-developed infrastructure, and advancement in technology.

Key Updates

In November 2017, Astellas Pharma Inc launched “Repatha” a human monoclonal antibody for the treatment of hypercholesterolemia.

In December 2017, Sanofi acquired Protein Science company in order to expand its product portfolio.

In January 2017, Acucela Inc received orphan drug approval for treatment of Stargardt disease. Hence this product approval will help the company to increase its revenue in the future as very few drugs are available for the treatment of Stargardt disease.

Market Segmentation

Global Juvenile Macular Degeneration (Stargardt Disease) Market, by Diagnosis

Fluorescein Angiography (FA)

Fundus Autofluorescence (FAF)

Optical Coherence Tomography (OCT)

Electroretinography (ERG)

Global Juvenile Macular Degeneration (Stargardt Disease) Market, by Management

Magnifying Spectacles

Magnifiers

Reading telescopes

Global Juvenile Macular Degeneration (Stargardt Disease) Market, by End-User

Hospital & Eye Clinics

Research & Academic Institutes

Global Juvenile Macular Degeneration (Stargardt Disease) Market, by Region

Americas
- North America
  - US
  - Canada
- Latin America

Europe
- Western Europe
  - Germany
  - UK
  - France
  - Italy
  - Spain
  - Rest of Western Europe
- Eastern Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific

Middle East & Africa
- Middle East
- Africa

Available Additional Customizations

Intended Audience

Medical device manufacturers and distributors

Government research organizations

Hospitals and clinics

Regulatory agencies

Contract research organizations

Pharmaceutical companies

Medical research laboratories

Juvenile Macular Degeneration Companies

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