Macular Edema and Macular Degeneration Market

Macular Edema and Macular Degeneration Market Overview: 

The global macular edema and macular degeneration market size was valued at $8,301 million in 2020, and is projected to reach $16,530 million by 2030, registering a CAGR of 7.3% from 2021 to 2030. Macular edema occurs when there is an abnormal leakage and accumulation of fluid in the macula from damaged blood vessels in the nearby retina, which leads to vision impairment and might lead to vision loss. Macular edema can be of two types, namely, cystoid macular edema and diabetic macular edema. In addition, macular degeneration is a painless disease condition that leads to loss of central vision, a condition due to the retinal damage, and majorly affects adults more than 50 years or geriatric population. Macular degeneration is of two types, namely, wet macular degeneration and dry macular degeneration. Rise in aging population has increasingly become an issue that leads to growing number of macular edema and degeneration case, which contributes the growth of the market. Therapies such as anti-vascular endothelial growth factor drugs for treatment of diabetic macular edema and Lucentis (ranibizymab) & Avastin drugs for macular degeneration play a significant role in growth of the global macular edema and macular degeneration market.        

COVID-19 Impact

Coronavirus (COVID-19) was discovered in December 2019 in Hubei province of Wuhan city in China. The disease is caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. 

After its discovery in Wuhan, the disease rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in patients, which range from common symptoms to serious symptoms. For instance, common symptoms include fever, dry cough, and fatigue. However, serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement.

Furthermore, the virus has high potential of lethality in geriatric population. On 11th March 2020, the World Health Organization made an assessment that COVID-19 can be characterized as pandemic. In addition, there are only a few vaccines that received emergency approvals for COVID-19 treatment or prevention. Thus, social distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns. 

Almost every nation is dealing with the outbreak. Most markets are experiencing a decline, owing to the outbreak. The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a negative impact on the macular edema and macular degeneration market. Macular edema and macular degeneration specialists prefer drug therapy and laser treatment for macular edema and macular degeneration treatment and surgery. The most commonly performed treatment was laser treatment procedure in macular edema and macular degeneration before the COVID-19 pandemic. Although laser treatment remains the most commonly performed established macular edema and macular degeneration treatment and surgery, which is being performed with reduced frequency during the COVID-19 pandemic due to decreasing number of postoperative visits and procedures required.   

Treatment Type Segment Review

On the basis of treatment type, the market is segmented into drug therapy and laser treatment. The drug therapy segment accounted for the majority of market share of the global market in 2020. The factors such as increase in prevalence of diabetes patients who have diabetes for many years can develop neuropathy, a reduced or complete lack of vision due to nerve damage and surge in cases of diabetic macular edema (DME) drives the growth of the market.

Application Segment Review

By application, the market is segmented into macular edema (diabetic macular edema (DME) and cystoid macular edema (CME)) and macular degeneration (dry age-related macular degeneration and wet age-related macular degeneration). The macular degeneration segment accounted for the majority of market share in 2020, and is expected to remain dominant during the forecast period, owing to rise in occurrence of diabetes due to unhealthy lifestyle of people and increasing cases of diabetes. These are the factors that propel the market growth.

End User Segment Review

By end user, the market is segmented into hospitals, clinics, and others. The hospital segment accounted for maximum market revenue in 2020, and is anticipated to maintain its dominant position during the forecast period. This is attributed to increase in cases of diabetes and treatment of macular edema and macular degeneration including drug therapy and laser treatment in hospitals. 

Region segment review

Region wise, the macular edema and macular degeneration market is analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America dominated the market in 2020, accounting for the highest share and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increasing case of diabetic macular edema (DME), cystoid macular edema (CME), dry age-related macular degeneration, and wet age-related macular degeneration, thus rise in demand for macular edema and macular degeneration treatment to treat macular edema and macular degeneration is a major factor that contributes toward growth of the macular edema and macular degeneration market. However, as per macular edema and macular degeneration market forecast, Europe is projected to register highest growth rate from 2021 to 2030.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current macular edema and macular degeneration market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing market opportunities. 
• An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030, in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the macular edema and macular degeneration market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the macular edema and macular degeneration market.

 Macular Edema and Macular Degeneration Market Report Highlights