The macular degeneration treatment market is experiencing rapid growth, expanding from $9.74 billion in 2023 to $10.99 billion in 2024, with a CAGR of 12.8%. This growth is driven by an aging population, lifestyle changes, limited treatment options, rising awareness, and healthcare infrastructure development. The market is projected to reach $16.99 billion by 2028, growing at an 11.5% CAGR. Key growth drivers include advancements in research, increased healthcare expenditure, rising incidence rates, personalized medicine, and global vision health efforts. Major trends include neuroprotection and regeneration therapies, telemedicine expansion, personalized medicine, stem cell therapy investigations, and patient-focused awareness initiatives.
Major Driver In The Macular Degeneration Treatment Market
The escalating prevalence of retinal disorders is poised to drive growth within the macular degeneration treatment market. Retinal disorders, which compromise the integrity of vital ocular tissues, profoundly impact individuals' visual processing capabilities, often resulting in distorted or impaired vision. Alarmingly, projections by the American Academy of Ophthalmology forecast a significant rise in the prevalence of primary open-angle glaucoma in the United States, with estimates suggesting that by 2050, approximately 7.32 million individuals will be affected. Notably, certain demographic groups, including individuals aged 70 to 79 years, women, and Hispanics, are disproportionately affected, underscoring the pressing need for effective treatment modalities. Given these demographic trends, the escalating burden of retinal disorders emerges as a key driver behind the burgeoning demand for macular degeneration treatments, underscoring the market's growth trajectory across the 2023, 2024, and 2028 timeframes.
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Macular Degeneration Treatment Market Competitive Landscape
Pfizer Inc., F. Hoffmann-La Roche Ltd., Allergan Inc., Bayer AG, Novartis AG, GlaxoSmithKline plc, Panoptica, Nidec Pharma Inc., Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., Valeant Pharmaceuticals, Arrys Therapeutics Inc., Santen Pharmaceuticals, StemCells Inc., Aerie Pharmaceuticals Inc., BioXcel Therapeutics Inc., Regenxbio Inc., Spark Therapeutics Inc., Alimera Sciences Inc., Rxi Pharmaceuticals, Avita Therapeutics Ltd., Applied Genetic Technologies Corp (AGTC), Cell Medica Ltd., Ophthotech Corporation, Adverum Biotechnologies Inc., Neurotech Pharmaceuticals Inc., 4D Molecular Therapeutics Inc., GenSight Biologics Inc., NanOcular Ltd., Codiak BioSciences Inc., Nightstar Therapeutics plc
Key Macular Degeneration Treatment Market Trend
The development of advanced therapies is a key trend gaining popularity in the macular degeneration treatment market. Advanced therapy, including gene therapy, for the treatment of disease has seen development in recent years, particularly in the world of inherited retinal disease. For instance, in October 2021, Genentech, a US-based biotechnology company, announced that FDA has approved Susvimo, a new treatment for wet age-related macular degeneration. Susvimo is the first wet AMD treatment to offer an alternative to the standard-of-care eye injections required as frequently as once per month in the last 15 years. Susvimo will help people with wet AMD retain their vision with as few as two treatments per year by continually injecting medication into the eye via a refillable implant.
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Macular Degeneration Treatment Market Segmentation
The macular degeneration treatment market covered in this report is segmented –
1) By Stage of Disease: Early-Stage AMD, Intermediate AMD, Late-Stage AMD
2) By End User: Ambulatory Surgical Centers, Ophthalmic Clinics, Hospitals
3) By Route of Administration: Oral, Injectable, Other Route of Administration
4) By Types: Wet Macular Degeneration, Dry Macular Degeneration
By Geography:The regions covered in the macular degeneration treatment market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the macular degeneration treatment market in 2023.
The Macular Degeneration Treatment Global Market Report 2024 furnishes information about the global macular degeneration treatment market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
