Macular Degeneration Treatment Market Size was valued at USD 9.3 Billion in 2022. The Macular Degeneration Treatment market industry is projected to grow from USD 10.2 Billion in 2023 to USD 20.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.20% during the forecast period (2024 - 2032). Growing use of treatment drugs, increasing cost of healthcare, and support from the government are the key market drivers boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for macular degeneration treatment is being driven by the rising expanding use of therapeutic substances. Central vision loss is the result of the eye condition known as macular degeneration, which affects the macula, the center of the light-sensitive retina in the rear of the eye. The eye condition known as age-related macular degeneration (AMD) can cause central vision impairment. It occurs when the macula, a portion of the retina (the light-sensitive tissue in the rear of the eye), sustains damage from aging. Age-related macular degeneration comes in two flavors: moist and dry. The majority of AMD patients have dry AMD.
Additionally, over the projected period, an increase in the prevalence of retinal illnesses ly is anticipated to fuel the expansion of the market for treatments for macular degeneration. Retinal problems, for example, are becoming more and more of a threat in both developed and developing nations. As retinal problems become more common, vision loss is growing in importance as a public health concern. It is anticipated that companies in the worldwide macular degeneration treatment market would have substantial potential prospects due to the rising need for safe and effective treatment. For example, age-related macular degeneration is a common and crippling condition for which treatment is in greater demand. While there isn't a cure, medication can delay the illness' progression and prevent blindness.
The market for treatments for macular degeneration is predicted to grow more slowly due to an increase in the use of off-label drugs. The practice of prescribing a medication for a purpose other than the one for which the FDA has approved it is known as off-label drug use. Growing public awareness of macular degeneration is anticipated to present profitable expansion prospects for companies in the macular degeneration treatment industry. For example, AMD is a primary cause of irreversible blindness, and blindness can be prevented by raising awareness about AMD. To increase public awareness about AMD, extensive efforts and activities are necessary. The goal of the National Eye Health Education Program (NEHEP) is to increase public awareness of aging and vision, particularly in February.
For instance, according to World Population Prospects 2022, the proportion of people 65 and older in the world's population is expected to increase from 10% in 2022 to 16% in 2050. ly, the number of people 65 and older is expected to surpass the number of children under five by 2050 and almost equal the number of children under twelve. The aforementioned data indicates that there will be a significant need for treatments for wet macular degeneration in the future; demand for Macular Degeneration Treatment supplements will increase due to Expanding Use of Therapeutic Substances. Thus, result in driving the Macular Degeneration Treatment market revenue.
The Macular Degeneration Treatment market segmentation, based on Disease Indication includes Wet Age-related Macular Degeneration, Dry Age-related Macular Degeneration, Others. The Wet Age-related Macular Degeneration segment dominated the market. The maculation degeneration market has been divided into two segments based on the disease indication: wet age-related macular degeneration and dry age-related macular degeneration. A significant portion of the market was held by the wet age-related macular degeneration sector. The dominating market share of this segment was attributed to branded drugs, rising awareness, and an increase in wet AMD therapies.
The Macular Degeneration Treatment market segmentation, based on Drug Class, includes Anti-vascular Endothelial, Others. The Anti-vascular Endothelial generated the most income. Because the market for treatments for macular degeneration has split into two segments: anti-vascular endothelial growth factors and others. Vascular endothelial growth factor path physiology is primarily responsible for blinding retinal illnesses such as diabetic macular edema (DME), age-related macular degeneration (AMD), and retinal diseases (VEGF). It has been shown that AMD patients' visual function can be improved and restored by blocking VEGF activity within the eye.
The Macular Degeneration Treatment market segmentation, based on distribution channel, includes Hospitals, Ophthalmology Clinics, and Ambulatory Surgical Centers. The Hospitals generated the most income. These are the main medical facilities where patients are diagnosed, treated, and looked after. Treatments for macular degeneration are purchased by hospitals from manufacturers or distributors. Patients can receive prescriptions for macular degeneration from many hospitals' own pharmacies, either on-site or inside the hospital system.
Figure1: Macular Degeneration Treatment Market, by Distribution channel,2023&2032(USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Macular Degeneration Treatment market area will dominate this market, due to the region's favorable reimbursement policies and well-established healthcare infrastructure will boost market growth in this region.
Further, the major countries studied in the market report are The US, German, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure2: MACULAR DEGENERATION TREATMENT MARKET SHARE BY REGION 2023 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Macular Degeneration Treatment market has the second-largest portion of the market because of the world's aging population growing. Further, the German Macular Degeneration Treatment market had the biggest market share, and the UK Macular Degeneration Treatment market was the fastest growing market in the European region
The Asia-Pacific Macular Degeneration Treatment Market is anticipated to expand between 2023 and 2032 at the quickest CAGR. Because of the countries with dense populations' quick development in the amount of hospital and diagnostic labs, as well as the increase in access to health care. Moreover, China’s Macular Degeneration Treatment market had the biggest market share, and the Indian Macular Degeneration Treatment market was the fastest growing market in the Asia-Pacific region.
Macular Degeneration Treatment Key Market Players& Competitive Insights
Leading market players are putting a lot of money on R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. to grow and endure in an increasingly cutthroat and dynamic market, Macular Degeneration Treatment industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Macular Degeneration Treatment industry to help customers and expand the market segment. In recent years, the Macular Degeneration Treatment industry has provided some of the biggest benefits to medicine. Major players in the Macular Degeneration Treatment market, including Pfizer, Inc., AbbVie, Inc., F. Hoffmann-La Roche, Ltd., Regeneron Pharmaceuticals, Inc., Bayer AG, Novartis AG, Santen and others, are attempting to increase market demand by investing in research and development operations.
With its headquarters located in Basel, Switzerland, Novartis AG is a worldwide pharmaceutical company. Novartis, a multinational pharmaceutical company that consistently ranks in the top five, is among the largest in the world. As of 2022, its sales ranked it fourth. The combination of Ciba-Geigy and Sandoz became Novartis in 1996.Around that time, it was thought to be the biggest corporate merger in history .In April 2019, Novartis said that Alcon's spin-off into a distinct business company was complete. Alcon was traded on both the U.S. NYSE and the Swiss SIX exchange. An artificial intelligence "alliance" spanning five years was established by Novartis and Microsoft in late 2019. The companies want to use "Microsoft's AI capabilities" to develop applications.
One of the biggest pharmaceutical and biomedical corporations in the world, Bayer AG (pronounced "German") is a multinational pharmaceutical and biotechnology firm based in Germany. Bayer, who has its headquarters in Leverkusen, is a company that deals in pharmaceuticals, consumer healthcare goods, seeds, agricultural chemicals, and biotechnology products. The company is included in the stock market index known as EURO STOXX 50. In August 2020, for $425 million, Bayer announced the acquisition of KaNDy Therapeutics Ltd., which would assist grow its business in the female healthcare market. Asklepios Biopharmaceuticals was to be acquired by Bayer for an upfront payment of $2 billion.
Key Companies in the Macular Degeneration Treatment market include
Macular Degeneration Treatment Industry Developments
January 2021: Under the brand name BYOOVIZ, Biogen Inc. and Samsung Bioepis Co., Ltd. acquired FDA approval for their biosimilar version of Lucentis, which is intended for the treatment of wet AMD, myopic choroidal neovascularization, and retinal vein occlusion.
November 2022: The latest ranibizumab biosimilar to receive approval in the EU, Ximluci, now has marketing authorization from the European Commission. Launched in early 2023, the product was developed in collaboration between Xbrane Biopharma and STADA Arzneimittel.
February 2021: Roche has released comprehensive findings from phase III trials using faricimab, an experimental bispecific antibody, to treat wet or neovascular age-related macular degeneration (nAMD) and diabetic macular edema.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 9.3 Billion |
| Market Size 2023 | USD 10.2 Billion |
| Market Size2032 | USD 20.5 Billion |
| Compound Annual Growth Rate (CAGR) | 9.20% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Disease indication, drugs class, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, German, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Pfizer, Inc., AbbVie, Inc., F. Hoffmann-La Roche, Ltd., Regeneron Pharmaceuticals, Inc., Bayer AG, Novartis AG, Santen Pharmaceutical Co., Ltd |
| Key Market Opportunities | Growing Government Support and Healthcare Spending, |
| Key Market Dynamics | Increase in Treatment Drug Adoption |
Frequently Asked Questions (FAQ) :
The Macular Degeneration Treatment market size was valued at USD 9.3 Billion in 2022.
The market is projected to grow at a CAGR of 9.20% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Pfizer, Inc., AbbVie, Inc., F. Hoffmann-La Roche, Ltd., Regeneron Pharmaceuticals, Inc., Bayer AG, Novartis AG, and Santen Pharmaceutical Co., Ltd.
The Anti-vascular Endothelial dominated the market in 2022.
The hospitals had the largest share in the market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
