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Macular Degeneration (AMD) and Other Retinal Diseases Drugs market is projected to grow at a CAGR of 10.74% by 2032: Visiongain Reports Ltd

Visiongain Reports Ltd
Visiongain Reports Ltd

Visiongain has published a new report entitled Macular Degeneration (AMD) and Other Retinal Diseases Drugs 2022-2032. It includes profiles of Macular Degeneration (AMD) and Other Retinal Diseases Drugs and Forecasts Market Segment by Indication (AMD, Diabetic Macular Edema, Diabetic Retinopathy, Retinal Vein Occlusion, Others) Market Segment by Type (Wet AMD, Dry AMD and Geographic Atrophy), Market Segment by Product (Lucentis, Eylea, Avastin, Visudyne and Others), Market Segment by Distribution Channel (Hospital Pharmacy, Retail; Pharmacy, Ophthalmic Clinics, E-commerce Pharmacy), plus COVID-19 Impact Analysis and Recovery Pattern Analysis (“V”-shaped, “W”-shaped, “U”-shaped, “L”-shaped), Profiles of Leading Companies, Region and Country. 

The Macular Degeneration (AMD) and Other Retinal Diseases Drugs market was valued at US$25.29 billion in 2021 and is projected to grow at a CAGR of 7.87% during the forecast period 2022-2032.

Rise in Incidence of Retinal Disorders

The pattern of ocular blindness in developed countries has shifted over time. A decade ago, inherited retinal disorders were the leading cause of loss of vision due to retinal diseases. With increased access to medical care and science, retinopathy, AMD, and retinopathy have emerged as the leading and quickest increasing causes of retinal vision loss. As a result, the global increase in the prevalence of ocular diseases is expected to drive the market for retinal disease drugs.

In developing nations, the pattern of retinal blindness has evolved through time. Prior to ten years ago, hereditary retinal problems were the primary factor in visual impairment brought on by retinal diseases. Retinal blindness has several important and growing causes, including diabetic retinopathy, age-related macular degeneration (AMD), and retinopathy of prematurity (ROP). By 2025, there are projected to be 57 million diabetics and 137 million persons over the age of 65 living in India. There will be more than 42 million diabetics in developed countries and more than 82 million in developing countries by the year 2030, according to estimates. In developing nations, the prevalence of AMD ranges from 0.6% to 1.1%, with the exception of Pakistan and Bangladesh. According to WHO standards, there are 1.5 million blind children globally, with 1 million of them living in Asia, 0.3 million in Africa, 0.1 million in Latin America, and 0.1 million elsewhere. ROP can occur anywhere between 21 and 40% of the time in the newborn intensive care unit (NICU) or after a referral to a tertiary care institution. To combat this preventable and treatable retinal cause of blindness, the adoption of measures such as health education and promotion, easily accessible eye care services, infrastructure strengthening, and affordable technologies may be helpful.

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How has COVID-19 had a Significant Negative Impact on the Macular Degeneration (AMD) and Other Retinal Diseases Drugs Market?

The market for age-related macular degeneration suffered during the early stages of the COVID-19 pandemic as a result of missing or delayed follow-up for AMD treatment, which led to non-adherence to medication. For instance, Roche said in July 2020 that sales of its AMD medication Lucentis rose only modestly to US$401 million in the second quarter from the same time the year before. The introduction of biosimilars and the widespread use of off-label medications like Avastin, however, may limit market expansion. The patent for Lucentis expired in June 2020 in the United States and will do so in Europe in 2022. Additionally, it is anticipated that Eylea will lose its patent in the U.S. by 2023, followed by Europe. As a result, there will be a market opportunity prospects for biosimilars. For the treatment of wet AMD, myopic choroidal neovascularization, and retinal vein occlusion, Biogen Inc. and Samsung Bioepis Co., Ltd. received U.S. FDA approval for their biosimilar version of Lucentis in September 2021 under the brand name BYOOVIZ.

How will this Report Benefit you?

Visiongain’s 279-page report provides 123 tables and 150 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Macular Degeneration (AMD) and Other Retinal Diseases Drugs market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional market for Macular Degeneration (AMD) and Other Retinal Diseases Drugs. Get financial analysis of the overall market and different segments including type, process, upstream, downstream, and company size and capture higher market share. We believe that there are strong opportunities in this fast-growing Macular Degeneration (AMD) and Other Retinal Diseases Drugs market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.

What are the Current Market Drivers?

Upsurge in Geriatric Population

One of the key drivers fueling market expansion internationally is the rise in the number of elderly people. By 2030, one in six individuals worldwide will be 60 years of age or older, according to the World Health Organization (WHO). There will be 1.4 billion persons over the age of 60 by 2030. By 2050, there will be roughly 2.1 billion people who are 60 years of age or older in the world. The number of people in the age bracket of 80 and above is anticipated to triple between 2020 & 2050, reaching 426 million by 2050.

These numbers are expected to grow exponentially in the future due to an ageing population. The visual effects of AMD can have a major influence on quality of life and exacerbate the elderly's already difficult health-related issues and comorbidities. Knowing the early warning signs and symptoms of AMD can help doctors advise patients when to seek ophthalmologic therapy to stop additional vision loss.

Rising Healthcare Expenditures by Various Governments

Government of countries in Europe and North America are primarily focussed on improving their health infrastructure after the COVID-19 pandemic. Countries like US and Canada have increased their health investments by around 5-6% in 2021. The same trend is expected to continue in near future.

The government spending on healthcare and policies related to healthcare facilities, distribution of essential medicines, and disposable income availability help increase the number of patients adhering to the available treatments. Apart from public expenditure on healthcare, a number of investments by manufacturers, venture capitalists and new products in the global intracranial hemorrhage diagnosis & treatment market is expected to drive the market growth. For instance, the GDP share of healthcare stood at 2.1% of GDP in 2021-22 against 1.8% in 2020-21 and 1.3% in 2019-20. The increasing healthcare expenditure is expected to affect the growth of the market positively. According to a report published by BrightFocus organization, US, in January 2021, people are increasingly getting aware of AMD related disorders and the countries have started investing exponentially in this sector.

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https://www.visiongain.com/report/amd-market-2022/#download_sampe_div

Where are the Market Opportunities?

Growing Demand for Cutting-edge Therapeutic Treatments for Retinal Diseases to Aid Market The discovery and development of new ophthalmic drugs has received a valuable boost in recent years. Drug manufacturers are moving away from out-dated pharmaceuticals to determine innovative and improved drugs to treat various retinal diseases in the retinal care industry. This feature, together with important advances in gene sequencing and molecular biology, has paved the way for improved treatment of retinal diseases. Government bodies and other non-profit organizations are quickly investing in the inventing of new treatments for retinal diseases. The retinal disease treatment industry, particularly in developing regions such as North America, is seeing augmented collaboration between non-profit organizations and governments. For example, the non-profit organization Foundation Fighting Blindness funds research connected to the production of eye care products by supportive more than 90 researchers from around the world. Research efforts are primarily focused on the development of novel therapeutics for the treatment of retinal diseases such as retinal degenerative disease and AMD.

Competitive Landscape

The major players operating in the Macular Degeneration (AMD) and Other Retinal Diseases Drugs market are Novartis AG, F Hoffmann-La Roche, GlaxoSmithKline Pharmaceuticals Ltd., Bayer AG, Pfizer Inc., Regeneron Pharmaceuticals, Bausch & Lomb, Apellis Pharmaceuticals, Santen Pharmaceuticals, Alimera Sciences Inc., AbbVie, Graybug Vision Inc., and Kubota Vision Inc. These major players operating in this market have adopted various strategies comprising M&A, investment in R&D, collaborations, partnerships, regional business expansion, and new product launch.

Recent Developments

  • In June 2022, Sandoz received approval from United States Food and Drug Administration (USFDA) for its biologics license application (BLA) for a proposed first-of-a-kind biosimilar natalizumab, developed by Polpharma Biologics.

  • In  October 2021, Roche announced USFDA approval of Susvimo 100 mg/mL for the treatment of people with wet age-related macular degeneration (nAMD).

To access the data contained in this document please email oliver.davison@visiongain.com

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About Visiongain

Visiongain is one of the fastest-growing and most innovative independent market intelligence providers around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports, which cover 10-year forecasts, are hundreds of pages long, with in-depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets with a lot of synergies. These markets include automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customised and syndicated market research reports offer a bespoke piece of market intelligence customised to your very own business needs.

Contact:

Oliver Davison
PR at Visiongain Reports Limited
Tel: + 44 0207 336 6100
Email: oliver.davison@visiongain.com
Web: www.visiongain.com