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Juvenile macular degeneration (JMD) market dynamics are significantly motivated by the superiority and incidence rates of the ailment. As the variety of identified cases rises, the demand for effective remedies and treatment plans increases, and the market increases. Ongoing studies and development activities play a pivotal position in shaping the JMD market. Breakthroughs in the know-how of the genetic and molecular basis of the sickness cause the improvement of revolutionary treatment plans, attracting investments and fostering market enlargement. The advent of advanced genetic testing technology has had a profound impact on the JMD market. As more individuals go through genetic testing for early detection and threat assessment, the market witnesses an upsurge in diagnostic tools and offerings.
Regulatory approvals from the fitness government drastically form the JMD market. The timely approval of recent drugs and therapies accelerates market access, supplying sufferers with greater alternatives and fueling competition amongst pharmaceutical businesses. Accessibility and affordability of JMD treatments are vital to market elements. Health rules, insurance insurance, and affordability of treatments without delay impact patient access, influencing the market's usual dynamics. Collaborations among pharmaceutical corporations, research establishments, and healthcare groups make contributions to the JMD market's growth. Joint efforts in studies, development, and distribution create synergies that boost advancements in treatment options. Demographic factors consisting of growing older populations and growing life expectancy contribute to the increase of the JMD market. As the elderly populace rises globally, the occurrence of age-related macular degeneration, together with juvenile instances, will become more regular.
Technological advancements in imaging and diagnostic equipment play a vital role in the early detection and monitoring of JMD. Improved diagnostic precision and performance contribute to higher affected person outcomes and stimulate a market boom. The aggressive panorama of the JMD market is dynamic, with new entrants and rising players continuously coming into the area. Competition fosters innovation, mainly in a wide range of treatment alternatives and the use of market enlargement. Reimbursement rules and techniques applied by healthcare systems affect the JMD market. Favorable repayment policies can beautify patient affordability and force the adoption of recent remedies, definitely impacting market dynamics. Patient advocacy corporations play a pivotal position in influencing the JMD market. Their efforts in elevating cognizance, supporting research, and advocating for affected person-centric policies contribute to a more supportive environment for individuals stricken by JMD.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â 7.36% |
Juvenile Macular Degeneration Market Highlights:
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
- North America
- Europe
- Western Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Western 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
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