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Macular Degeneration Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Macular Degeneration Treatment Market is Segmented by Type (Dry Age-related Macular Degeneration and Wet Age-related Macular Degeneration), Stage of Disease (Early-stage AMD, Intermediate AMD, and Late-stage AMD), Route of Administration (Intravenous Route and Intravitreal Route), Sales Channel (Ambulatory Surgical Centers, Hospitals, and Other Sales Channels), and Geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Macular Degeneration Treatment Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.9 %

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Market Overview

The global macular degeneration treatment market was valued at USD 7,755 million in 2020, and it is expected to reach USD 11,492 million by 2026, registering a CAGR of 6.9% during the period of 2021-2026.

The COVID-19 pandemic had a potential economic impact and implications on most sectors, including the pharmaceutical and biotech industries. One of the major driving factors for the macular degeneration treatment market is the aging population. However, due to the COVID–19 pandemic, it is becoming more apparent that older adults and people with underlying health conditions are most susceptible to the illness.

Furthermore, the impact of COVID-19 on the macular degeneration treatment market was negative because the COVID-19 outbreak in 2020 has resulted in the reduction of attendance at scheduled clinic visits and intravitreal injections (IVI). For instance, according to a research study by Lauren M. Wasser et al., published in SN Comprehensive Clinical Medicine Journal October 2020, the number of clinic visits for intravitreal injections (IVI) in the treatment of macular degeneration treatment during one month from March 15 to April 14 of 2020 was compared to a similar time period in each of the last four years. The study demonstrates a decrease in clinic visits for intravitreal injections (IVI) compared with the same 4-week interval in the four previous years. Moreover, a total of 636 eyes received injections during a 4-week period of the COVID-19 outbreak in the Retina Clinic, Israel in 2020, as compared to 995 injections in 2019, 732 injections in 2018, and 733 injections in 2017, respectively.

The major factors attributing to the growth of the macular degeneration treatment market are the increasing burden of retinal disorders, upsurge in the geriatric population, and increase in R&D investments.

According to a research article by Jeany Q Li et al., published in the British Journal of Ophthalmology August 2020, in Europe, age-related macular degeneration (AMD) is the main cause of visual impairment and blindness. About 67 million people in Europe are affected by any age-related macular degeneration (AMD) and, due to population aging, this number is expected to increase by 15% until 2050. As per the statistics, the increasing number of individuals with retinal disorders is directly proportional to the market growth.

Furthermore, the increasing R&D investments and rising approvals for the new drugs are other major factors for the market growth. For instance, in September 2020, the United Food and Drug Administration (FDA) granted the Fast-Track designation to GT005, an investigational, one-time, AAV-based gene therapy for the treatment of geographic atrophy (GA), secondary to dry age-related macular degeneration (AMD). GT005 was developed by Gyroscope Therapeutics Limited, a clinical-stage retinal gene therapy company.

However, the increasing use of off-label drugs and lack of awareness regarding the disease are the major restraints to the growth of the market.

Scope of the Report

As per the scope of the report, macular degeneration is a retinal disorder affecting older people. The early stages of the disease (early and intermediate AMD) are generally asymptomatic, which gradually make progress to late stages of the disease, which may cause severe visual loss. The macular degeneration treatment market is segmented by type (dry age-related macular degeneration and wet age-related macular degeneration), stage of disease (early-stage AMD, intermediate AMD, and late-stage AMD), route of administration (intravenous route and intravitreal route), sales channel (ambulatory surgical centers, hospitals, and other sales channels), and geography (North America, Europe, Asia Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Type
Dry Age-related Macular Degeneration
Wet Age-related Macular Degeneration
By Stage of Disease
Early-stage AMD
Intermediate AMD
Late-stage AMD
By Route of Administration
Intravenous Route
Intravitreal Route
By Sales Channel
Ambulatory Surgical Centers
Hospitals
Other Sales Channels
By Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Rest of Asia Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Wet Age-related Macular Degeneration is Expected to Hold Significant Market Share Over the Forecast Period.

Wet macular degeneration is an initiation of atypical growth of blood vessels beneath the retina. These overgrown blood vessels drip blood which impedes clarity of central vision leading to macular degeneration.

As per BrightFocus Foundation 2020, during the COVID-19 pandemic 2020, non-urgent medical visits were postponed. However, the hospitals provided services to patients with wet AMD to have intraocular anti-VEGF injections to protect vision. This was given at the frequency recommended by an ophthalmologist, which can vary from patient to patient depending on how actively the abnormal blood vessels in the retina are leaking. Moreover, research studies have found that missing injections will generally lead to worse vision.

The rising geriatric population all over the world is creating a high-level demand in the wet macular degeneration market. For instance, as per United Nations World Ageing 2019 report, the majority share of the older population is contributed by East and Southeast Asia, followed by Europe and North America. East and Southeast Asia are also expected to observe the largest increase by about 312 million in the coming years compared to any other region. Furthermore, in 2019, around 200 million people were 65 years and above in North America and Europe regions. The above statistics represent the high demand for the products for the treatment of wet macular degeneration globally in the future.

According to the study published in the Journal of Ophthalmology, 2019, almost 92% of retina specialists preferred proactive treatment patterns as anti-VEGF agents for the wet form of age-related macular degeneration, and around 81% of the patients are treated with aflibercept and ranibizumab.

Increasing R&D activities in the development of new products are also boosting the market growth. For instance, in August 2020, Sam Chun Dang Pharm Co. Ltd started a phase III clinical trial to assess the safety, tolerance, effectiveness, immune response of SCD411 in patients with wet age-related macular degeneration. The trial is expected to complete in April 2022.

The market players adopted various strategies, such as product launches, collaborations, developments, acquisitions, mergers, and expansions, to increase market share. For instance, in February 2020, Novartis AG received a European Commission approval for the marketing of Beovu. It is an anti-VEGF agent used for treating wet-AMD patients. Hence, owing to the factors mentioned above, it is expected to drive the segment growth over the forecast period.

Global

North America Dominates the Market and Expected to do Same in the Forecast Period

Some of the factors driving the market growth in the North American region include the increasing burden of the geriatric population and age-related macular degeneration, the presence of key market players, and increasing R&D activities.

According to a research study published in Nature Medicine August 2020, patients with age-related macular degeneration (AMD) who become infected with SARS-CoV-2 are at higher risk of developing severe complications, including requiring supplemental oxygen and death. Moreover, the United States American Macular Degeneration Foundation (AMDF) passed this information to alert age-related macular degeneration (AMD) patients and eye care practitioners of the potential risk.

Advanced age-related macular degeneration is considered a leading cause of irreversible blindness and visual impairment across the world. According to the World Health Organization (WHO), in 2018, in the United States, about 200,000 new cases of advanced, age-related macular degeneration (AMD) were identified, and the elderly American population was suffering from severe or wet forms of AMD and endured inevitable, gradual loss of central vision. The growing patient pool and the increasing geriatric population who are more prone to retinal diseases drive the market.

According to the Canadian Ophthalmological Society, wet age-related macular degeneration is one of the major causes of vision loss in people aged over 65 years. One of its studies, published in 2019, projected that at least one out of four Canadian may be diagnosed with macular degeneration, by 2032.

Furthermore, beneficial government initiatives, an increase in the number of research partnerships, and the presence of the key market players, coupled with recent product launches, are anticipated to boost the growth of the market in the North American region.

For instance, in 2019, Novartis AG received the US FDA (Food & Drug Administration) approval for “Beovu”. It has been developed for the treatment of patients with wet age-related macular degeneration. It works based on reducing the fluid generation, thereby, improving the vision.

Furthermore, the companies are heavily funding various research institutes to develop a treatment for macular degeneration. Recently, Roche funded and collaborated with the Association for Research in Vision and Ophthalmology that focuses on strengthening ophthalmic research capacities by funding a year’s project of the researchers from various countries, including Mexico. Hence, from the factors mentioned above, the market is estimated to witness significant growth over the forecast period.

Macular Degeneration Treatment Market Growth

Competitive Landscape

The Macular Degeneration Treatment market is moderately competitive. However, mid-size to small companies are increasing their market presence with product innovations by introducing new products. Some companies include F Hoffmann-La Roche Ltd, Novartis AG, Regeneron Pharmaceuticals Inc., Bausch Health Companies Inc., and Pfizer Inc., among others.

Recent Developments

In January 2021, Novartis AG started a phase III clinical trial to evaluate the efficacy and safety of brolucizumab in patients with neovascular age-related macular degeneration.

In February 2020, Bausch Health Companies collaborated with Prevent Blindness, a non-profit organization, to create awareness among people about macular degeneration through social media campaigns.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Burden of Retinal Disorders

      2. 4.2.2 Upsurge in Geriatric Population

      3. 4.2.3 Increase in Research and Development Investments

    3. 4.3 Market Restraints

      1. 4.3.1 Increasing Use of Off-label Drugs

      2. 4.3.2 Lack of Awareness Regarding AMD

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Buyers/Consumers

      2. 4.4.2 Bargaining Power of Suppliers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Dry Age-related Macular Degeneration

      2. 5.1.2 Wet Age-related Macular Degeneration

    2. 5.2 By Stage of Disease

      1. 5.2.1 Early-stage AMD

      2. 5.2.2 Intermediate AMD

      3. 5.2.3 Late-stage AMD

    3. 5.3 By Route of Administration

      1. 5.3.1 Intravenous Route

      2. 5.3.2 Intravitreal Route

    4. 5.4 By Sales Channel

      1. 5.4.1 Ambulatory Surgical Centers

      2. 5.4.2 Hospitals

      3. 5.4.3 Other Sales Channels

    5. 5.5 By Geography

      1. 5.5.1 North America

        1. 5.5.1.1 United States

        2. 5.5.1.2 Canada

        3. 5.5.1.3 Mexico

      2. 5.5.2 Europe

        1. 5.5.2.1 Germany

        2. 5.5.2.2 United Kingdom

        3. 5.5.2.3 France

        4. 5.5.2.4 Italy

        5. 5.5.2.5 Spain

        6. 5.5.2.6 Rest of Europe

      3. 5.5.3 Asia Pacific

        1. 5.5.3.1 China

        2. 5.5.3.2 Japan

        3. 5.5.3.3 India

        4. 5.5.3.4 Australia

        5. 5.5.3.5 South Korea

        6. 5.5.3.6 Rest of Asia Pacific

      4. 5.5.4 Middle-East and Africa

        1. 5.5.4.1 GCC

        2. 5.5.4.2 South Africa

        3. 5.5.4.3 Rest of Middle-East and Africa

      5. 5.5.5 South America

        1. 5.5.5.1 Brazil

        2. 5.5.5.2 Argentina

        3. 5.5.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 F Hoffmann-La Roche Ltd

      2. 6.1.2 Novartis AG

      3. 6.1.3 Pfizer Inc.

      4. 6.1.4 Panoptica

      5. 6.1.5 Bausch Health Companies Inc.

      6. 6.1.6 Regeneron Pharmaceuticals Inc.

      7. 6.1.7 Aerie Pharmaceutical Inc.

      8. 6.1.8 REGENXBIO Inc.

      9. 6.1.9 Bayer AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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Frequently Asked Questions

The Global Macular Degeneration Treatment Market market is studied from 2018 - 2026.

The Global Macular Degeneration Treatment Market is growing at a CAGR of 6.9% over the next 5 years.

The Global Macular Degeneration Treatment Market is valued at 7755 Million USD in 2018.

The Global Macular Degeneration Treatment Market is valued at 11492 Million USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Novartis AG, Bausch Health Companies Inc., REGENXBIO Inc., F Hoffmann-La Roche Ltd, Regeneron Pharmaceuticals Inc. are the major companies operating in Global Macular Degeneration Treatment Market.

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