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Global $20B+ Macular Degeneration Treatment Market Outlook, 2024-2029: AI Integration Paves the Way for Personalized Care
Global Macular Degeneration Treatment Market
Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Macular Degeneration Treatment Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
In an insightful revelation, the Global Macular Degeneration Treatment Market has been projected to garner significant momentum, with its valuation estimated to ascend from USD 13.10 billion in 2023 to USD 20.94 billion by the year 2029. The market is expecting a robust compound annual growth rate (CAGR) of 8.3% during this forecast period.
The aging population demographic stands as a substantial contributor to this expansion. The increase in age-related macular degeneration (AMD) has led to heightened demand for innovative and effective treatments. Coupled with the growing awareness and the inception of proactive screening programs, the market is projected to maintain a healthy growth trajectory. Moreover, strategic government initiatives and the support in research funding are pivotal elements that are empowering the growth of the treatment market.
Trends and Developments
Advancements in gene therapies are steering a course towards personalized treatment options and have the potential to usher in a new era of care for those affected by macular degeneration. Additionally, the advent of Artificial Intelligence (AI) in diagnostics and treatment customization is expected to refine patient care further and accelerate the development of new therapies.
Challenges and Strategic Responses
Despite promising growth dynamics, challenges such as limited awareness in underserved regions and resistance to adopting new therapies could potentially impede market expansion. Efforts to mitigate these challenges include educating healthcare professionals and the public, improving access to healthcare services, and aligning economic incentives to embrace innovative treatment approaches.
Segmental Insights and Regional Dominance
The Wet Age-related Macular Degeneration segment and the Biopharmaceutical Companies segment are anticipated to play dominant roles in the market growth, backed by constant innovation in treatment strategies. North America is forecasted to lead the charge regionally, attributed to its advanced healthcare infrastructure, extensive research capabilities, and positive regulatory environment.
Key Attributes
Report Attribute | Details |
No. of Pages | 183 |
Forecast Period | 2024-2029 |
Estimated Market Value (USD) in 2024 | $13.1 Billion |
Forecasted Market Value (USD) by 2029 | $20.94 Billion |
Compound Annual Growth Rate | 8.3% |
Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
F. Hoffmann-La Roche Ltd.
Novartis AG
Pfizer Inc.
PanOptica Inc.
Bausch Health Companies Inc.
Regeneron Pharmaceuticals Inc.
Aerie Pharmaceutical Inc.
REGENXBIO Inc.
Bayer AG
Lineage Cell Therapeutics Inc.
For more information about this report visit https://www.researchandmarkets.com/r/x5cmyg
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