Macular Degeneration is one of the causes of vision loss. Macular Degeneration is triggered by the deterioration of the central portion of the retina, the inside back layer of the eye that records the images one sees and sends them via the optic nerve from the eye to the brain. The other part of the eye includes, the retina’s central portion, called as the macula, which is responsible for focusing central vision in the eye, and it controls our ability to drive a car, read, recognize faces or colors, and see objects in fine detail. There are three stages of AMD, which are Early AMD, wherein yellow deposits beneath retina is observed and can only be diagnosed during regular eye check-up. The second stage includes partial loss of the vision but sometimes noticeable symptoms may not be present. The last stage includes complete vision loss.
COVID-19 scenario analysis:
Pharmaceutical and biotechnological companies have joined hands with governments around the globe to combat with the COVID-19 outbreak, for assisting in the development of various vaccines to ensure appropriate alternatives for medicines supply chain challenges. The estimates suggest that there are about 115 vaccine candidates and about 155 molecules, which are in the R&D pipeline. Due to the demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is hence anticipated to witness a significant growth for the newly developed drugs for the managements of the COVID-19 in the future. The current scenario has brought halt in the massive production of the medications used for macular degeneration treatment and also has broadly affected the supply of the medications, which is probing challenges for the major market players. However, the growing concern to lead healthy life has emerged due to the pandemic and hence, would propel the growth of this industry in the coming years.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factors that are anticipated to affect the Macular Degeneration treatment market include the hike in the prevalence of retinal disorders and rise in the incidence of AMD in geriatric population would help the market grow in the coming years. Furthermore, the increase in R&D of the products, which can be used as a medication for AMD and surge in the approvals given by the government authorities for AMD treatment would help the market grow at a positive pace in the near future. However, the lack of awareness about the disease may hamper the growth of the industry during the forecast period.
The global Macular Degeneration Treatment market trends are as follows:
New product launches to flourish the market
The launch of new products for the treatment of macular degeneration is expected to help the growth of the market in the near future. For instance, in December 2019, Novartis announced that it would launch its new age-related macular degeneration drug in Europe after getting approval from the EMA’s main advisory committee. The Committee for Medicinal Products for Human Use (CHMP) issued a positive view for the drug Beovu (brolucizumab) as a treatment for neovascular or ‘wet’ AMD, a sight-robbing disease that affects the central part of the retina at the back of the eye.
Additionally, in July 2018, Allergan Plc., which is among the leading global pharmaceutical companies and Molecular Partners, which is a clinical-stage biopharmaceutical company, announced that they are developing a new class of drugs known as DARPin therapies. The companies also announced the release of two positive clinical trials, SEQUOIA, and CEDAR for abicipar, demonstrating that both the 8-week and 12-week treatment regimens met the pre-specified primary endpoint of non-inferiority to ranibizumab. SEQUOIA and CEDAR are identical global phase-3 studies designed to assess the efficacy and safety of abicipar compared with ranibizumab in treatment-naive patients with neovascular age-related macular degeneration (AMD).
Surge in incidences of AMD to boost the market
The growth in the number of individuals who are susceptible to have Macular Degeneration is expected to help the market gain maximum shares in the coming years. According to the statistics given by the Bright Focus Foundation, about 11 million people in the U.S. have some form of age-related macular degeneration. Additionally, the number is expected to double to nearly 22 million by 2050 according to the growth rate.
Furthermore, the total number of people living with macular degeneration is anticipated to reach 196 million worldwide by 2020 and rise to about 288 million by 2040. The foundation also stated that age is a prominent risk factor for age-related macular degeneration. The risk of getting advanced age-related macular degeneration upsurges from 2% for those ages 50-59, to approximately 30% for those over the age of 75.
Key benefits of the report:
- This study presents the analytical depiction of the global macular degeneration treatment industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global macular degeneration treatment market share.
- The current market is quantitatively analyzed to highlight the global Macular Degeneration Treatment market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the macular degeneration treatment market.
- The report provides a detailed global macular degeneration treatment market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the macular degeneration treatment market research report:
- Which are the leading market players active in the macular degeneration treatment market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the macular degeneration treatment market?
- What are the projections for the future that would help in tasking further strategic steps?
Macular Degeneration Treatment Market Report Highlights
By Stage of Disease
By Route od Administration
By End User
Key Market Players
Bausch Health Companies Inc, , F. Hoffmann-La Roche AG, Aerie Pharmaceutical Inc, Thermo Fischer Scientific, Inc, Ellex, Panoptica, REGENXBIO Inc, Novartis AG, Pfizer Inc, Regeneron