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Macular degeneration and other retinal diseases drugs market worth US$ 40.16 billion by 2031. Visiongain Research Inc.
Visiongain has published a global macular degeneration (AMD) and other retinal diseases drugs market report 2021-2031.Forecasts By Indication (diabetic macular edema, diabetic retinopathy, retinal vein occlusion, others). By Type (Wet AMD, Dry AMD, Geographic Atrophy) By Product (Lucentis, Eylea, Avastin, Visudyne, Others) By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Others) PLUS, Profiles of Leading global macular degeneration (AMD) and other retinal diseases drugs companies and regional and leading national market Analysis. PLUS COVID-19 Recovery Scenarios
Visiongain lead analyst says: ‘Global macular degeneration drugs market was valued at US$ 19.18billion in 2020 and is projected to reach at a market value of US$ 40.16billion by 2031. Rising investment in drug R&D by pharmaceutical and biopharmaceutical companies, increasing prevalence of retinal diseases, mounting demand for biologics & biosimilars, and developing healthcare infrastructure in emerging economies are some of the major factors that drive the market growth’.
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COVID-19 Impact on Cell based assay market.
Since the COVID-19 virus outbreak in December 2019, the World Health Organization declared it a public health emergency. The disease has spread to over 100 countries and caused huge losses of lives around the globe. The descending burden on the world economy that once showed signs of recovery in the previous period has increased again. The outbreak of the epidemic has added risk factors to the already weak growth of the world economy. Many international organizations have pointed out that the world economy is in the most severe period since the financial crisis. The negative global impacts of the coronavirus are already there, significantly affecting the Macular Degeneration (AMD) and Other Retinal Diseases market in 2020. However, it is anticipated to create lucrative opportunities in near future in the macular degeneration (AMD) and other retinal diseases market.
People with a history of coagulation plus macular degeneration disorders were at increased risk of dying from COVID 19 infection. Thus, ophthalmologic specialists, necessarily focused their efforts on the ophthalmologic care of patients and are concerned about resultant potential vision loss from missing treatment. Several ways are considered to improve delivery of retinal care such as, providing home injections with appropriate protection, accelerate the development of long-acting anti–VEGF therapeutics which would reduce the frequency of clinic visits. Thus, this will help give boost to the Global Macular Degeneration (AMD) and Other Retinal Diseases market post 2020.
This report studies and analyses the in-depth impact of Coronavirus COVID-19 on the Macular Degeneration (AMD) and Other Retinal Diseases industry.
How this report will benefit you
The report provides a thoughtful understanding into the global age-related macular degeneration market covering all its essential aspects. This ranges from macro-overview of the market to micro level details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, PEST analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the macular degeneration industry in any manner.
As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Drivers
There is an alarming rise in the incidence of eye-related diseases, especially in developed countries, which in turn is anticipated to drive the growth of the global retinal drugs market during the forecast period. The rising number of geriatric populations all over the world is creating the high-level demand in wet macular degeneration market. According to the World Health Organization (WHO) report, the percentage of old people (above 60 years) is expected to become 21.1% by the year 2050. The total number of old age people all over the world is probable to reach 2 billion in 2050. All these statistics represent the high demand for the products for the treatment of wet macular degeneration globally in coming future. The technological advancements in the diagnosis of macular degeneration and appropriate reimbursement circumstances are driving the growth of the market.
Market Opportunities
Several initiatives have been undertaken across the globe to spread awareness about diagnosis and treatment methods of ophthalmic diseases. The International Centre for Eye Health focuses on increasing awareness about eye health problems and treatment, the World Glaucoma Association has been arranging World Glaucoma Congress for the past six years to increase awareness and discussion about glaucoma treatment advancements. Macular Degeneration Association, Inc. arranges seminars every month across various places to increase treatment penetration for age-related macular degeneration (AMD). These initiatives are expected to increase the adoption of various treatment methods which in turn is projected to fuel the growth of the market.
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Competitive Landscape
Macular Degeneration (AMD) and Other Retinal Diseases market is a highly competitive market with several global and local players. Some of the leading players in this market include, Novartis AG, F. Hoffmann-La Roche, Ltd., GlaxoSmithKline Pharmaceuticals Ltd., Bayer AG, Pfizer Inc., Regeneron Pharmaceuticals, Bausch & Lomb Incorporated, Apellis Pharmaceuticals, Santen Pharmaceuticals, Alimera Sciences, AbbVie Inc., IVERIC bio, Inc. (Formerly Ophthotech), Graybug Vision, Inc., Kubota Vision Inc.
The current competitive landscape of the Global Macular Degeneration and Other Retinal Diseases market is highly consolidated with limited number of players operating in the market. Eylea from Regeneron Pharmaceuticals, Inc is an approved prominent therapy for major retinal diseases such as, AMD, DME, RVO. The product has strengthened its position in the market. Other products dominate the market are anti-VEGF agents such as, Lucentis by Roche. Other major strategies acquired by the leading players are collaborations, M&A,high investment in R&D, new product launches, and geographical expansion. These strategies help the companies to reinforce their existing product portfolio and regional reach. For instance, in September 2020,Bausch Health and Allegro Ophthalmics, LLC, a biopharmaceutical company announced that Bausch Health has entered into a strategic agreement to acquire all ophthalmology assets of Allegro
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About Visiongain
Visiongain is one of the fastest growing and most innovative, independent, market intelligence 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 cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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