Transparency Market Research (TMR) has published a new report titled “Macular degeneration treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.” According to the report, the global macular degeneration treatment market was valued at US$ 6.1 Bn in 2017. It is projected to expand at a CAGR of 6.4% from 2018 to 2026. Age-related macular degeneration treatment (AMD) is the leading cause of irreversible blindness. According to the National Institutes of Health, in the U.S. from 2000 to 2010, the number of people with AMD increased by 18%, from 1.75 million to 2.07 million. Moreover, nearly 5.44 million individuals are expected to develop AMD in the near future in the U.S. AMD is classified into three stages: early AMD, intermediate AMD, and late AMD. Late AMD is the advanced stage of AMD, which is characterized by the presence of late dry AMD (geographic atrophy) or late wet AMD (neovascular or exudative).
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The report offers detailed segmentation of the global macular degeneration treatment market based on disease indication, drug class, and distribution channel. The market has also been segregated based on region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The Anti-VEGF therapies segment is likely to drive the global market. Key players are tapping opportunities to introduce therapies for geographic atrophy, which are expected to boost the number of treated geographic atrophy cases, thereby drive the macular degeneration treatment market. Research and development of groundbreaking drugs could increase, as several patents stand on the brink of expiry. Consequently, enrolment in clinical trials is expected to rise in the near future. Companies are likely to ink licensing agreements and forge tactical collaborations to strengthen their position in the market. They are anticipated to back their blockbuster drugs in order to win over their rivalry with other players. Bayer, Regeneron, Roche/Genentech, and Novartis AG are some companies that could make their presence known in the market.
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Technical advancements and promising pipeline products assure improved growth
Growing prevalence of AMD is expected to boost the global market, while this could be an obvious growth factor of the market, there are other factors that are expected to propel the market in the near future. For instance, increase in healthcare expenditure and patient awareness are expected to boost the market. Moreover, introduction of advanced medications in AMD is also projected to propel the market.
Launch of novel products for the treatment of geographic atrophy, late stage of dry age-related macular degeneration treatment (dAMD), and wet AMD (wAMD) are key drivers of the AMD market. Drugs such as Apellis’ APL-2, Ophthotech’s Zimura and Novartis’ longer-acting anti-VEGF, brolucizumab are estimated to fuel the global macular degeneration treatment market. In particular, the launch of drugs into the AMD market to treat dAMD is anticipated to be a major factor, as currently, no prescription medications are available for these patients.
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Brands with drug patents accused of extortionately pricing high demand products
Patent expiry is likely to pose a threat to the expansion of market players. On the other hand, exorbitant pricing may not be a good strategy to adopt for players who possess patents for their drugs. For instance, patent expire of Lucentis during the forecast period. Several companies are in the race to introduce Lucentis biosimilar for monthly treatment of neovascular age-related macular degeneration treatment (nAMD), with plans to bring introduce it into the market during the forecast period, such as Samsung Bioepis, SB11 and bioeq, FYB201. Moreover, a lack of prescription drugs in the international AMD market is expected to hamper demand in the near future.
Specialty clinics segment to expand at rapid pace
The hospitals segment accounted for a significant share of the global market, followed by the ophthalmic clinics segment, in 2017. The ophthalmic clinics segment is anticipated to expand at a high CAGR during the forecast period. Affordable health care facilities provided in specialty clinics is a major factor fueling the segment. Ophthalmic clinics is the second-leading segment, as the primary detection and treatment of AMD are carried out at hospitals. The ambulatory surgical centers segment accounted for a relatively minor share of the market. It is expected to expand at a steady pace during the forecast period.
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Market in North America to register exponential growth
In terms of revenue, the macular degeneration treatment market in North America is projected to expand at a CAGR of 6.9% during the forecast period. North America dominated the global macular degeneration treatment market, in terms of revenue, in 2017. It is projected to maintain its dominant position during the forecast period. High rate of adoption of prescription AMD drugs in the U.S. and increasing number of approvals for new drugs from the U.S. FDA are major factors responsible for the high share held by North America in 2017.
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