PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1404001
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1404001
The global macular degeneration treatment market, valued at approximately US$ 9.9 billion in 2024, is poised for substantial growth, with an estimated valuation of US$ 18 billion by 2031. Age-related macular degeneration (AMD), a leading cause of vision loss and blindness worldwide, is driving the demand for innovative treatment solutions.
AMD represents a significant global healthcare challenge, with estimates suggesting that the number of AMD sufferers could surge from 9.1 million in 2010 to 17.8 million by 2050. To address this growing concern, the development of effective and accessible treatments is essential, particularly in regions with limited access to costly anti-vascular endothelial growth factor (anti-VEGF) injection therapies.
Rising Prevalence of Retinal Disorders: The increasing burden of retinal diseases, coupled with the growing elderly population, is a primary driver of the macular degeneration treatment market. For example, in Europe, AMD affects over 67 million people, and this number is expected to rise by 15% by 2050 due to population aging, fueling the demand for macular degeneration therapies.
Development of Long-Acting Anti-VEGF Drugs: Long-acting anti-VEGF drugs are creating lucrative opportunities for manufacturers. These drugs offer sustained drug delivery, overcoming the need for frequent and uncomfortable intraocular injections. Innovations like Beovu and Vabysmo are expected to drive market expansion in the coming years.
High Cost of Patented Drugs: Patent expirations pose a challenge to market participants. The cost-effectiveness of prescription medications will be a critical factor in maintaining market growth.
U.S. Market: The U.S. accounted for 91.8% of the North American macular degeneration treatment market in 2021. Favorable government initiatives, increased R&D partnerships, the presence of key industry players, and product launches are expected to drive significant market growth in the U.S.
U.K. Market: With over 1.5 million individuals suffering from macular disease, the U.K. presents a lucrative market due to the high prevalence of AMD, especially among people over the age of 55. AMD is the leading cause of blindness in the country, further highlighting the need for effective treatments.
China Market: China's vast population base, increasing treatment adoption rates, and rising disposable income have led to higher diagnosis and treatment rates. The prevalence of AMD-related blindness and vision loss has nearly doubled in the country in the last 30 years, making China a prominent market in East Asia.
Major players in the macular degeneration treatment market are actively pursuing research collaborations to develop novel products. Additionally, several companies have robust therapeutic pipelines with plans for patient protection and licensing.