LOS ANGELES, March 16, 2019 (GLOBE NEWSWIRE) -- The global macular degeneration treatment market size is anticipated to value USD 11.4 billion by 2026, this market is anticipated to grow with 6.6% CAGR during the forecast time period. Increase in age-related macular degeneration treatment (AMD) is expected to drive the growth of the global macular degeneration treatment market.

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Rise in R&D investments by manufacturers leads to innovation of products that used for treatment of macular degeneration diseases. Upsurge in incidence of retinal disorders, and rise in elderly population across developed economies are the factors that are expected to boost the growth of global macular degeneration treatment market during the forecast period. The continuous pressure from other key players in mandating the usage of different drugs for wet AMD and intrusive administration methods are expected to hamper the global macular degeneration treatment market in the upcoming years. However, the countries in developing economies such as U.S, Australia, Japan, Canada, France and others Australia are offering huge opportunities to the manufacturers in the global macular degeneration treatment market. This is driven by huge number of patient population, improved healthcare infrastructure, rising demand of anti-VEGF drugs.

Proliferation of drugs used for the treatment of AMD is projected to drive the growth of the age-related macular degeneration market, also for the treatment of wet AMD, there is no FDA approved treatment. Surge in demand of drugs for AMD treatment is another major driver of the age-related macular degeneration market. The cost of healthcare is increasing in hospitals and a clinic which is expected to create concern amongst patients. The treatment cost is high due to the usage of advanced technologies and innovative drugs, rising cost of medicines, high administrative cost, and doctor fees. Additionally, the rise in treatment cost leads to the increase in healthcare spending.

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The increase in off-label use and lack of awareness regarding AMD are the restraining factors that are expected to hinder the growth of age-related macular degeneration market. Off-label is the process of utilizing medicines for different medical condition, and different dosing that is not printed on the packing label of the medicines. The vision doctor or ophthalmologists are using doses of Avastin that is used for AMD treatment is highly expensive and unsafe as compared to anti-VEGF drug.

The global macular degeneration treatment market is segmented into disease indication, drug class, distribution channel, and region. On the basis of disease indication, the global macular degeneration treatment market is segmented into dry age-related macular degeneration treatment, wet age-related macular degeneration treatment, and others. On the basis of drug class, the global macular degeneration treatment market is segmented into anti-vascular endothelial growth factor (anti-VEGF) and others. On the basis of distribution channel, the global macular degeneration treatment market is segmented into ambulatory surgical centres’, ophthalmic clinics, and hospitals.  On the basis of region the global macular degeneration treatment market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

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North America region is anticipated to dominate the global macular degeneration treatment market followed by Europe and Asia Pacific region. The market in emerging economies is expected to lose share to high growth economies of Asia Pacific. Extensive adoption of drugs for dry age-related macular degeneration treatments may be attributed to high penetration in the North America region. The hospital segment is expected to grow remarkably due to the increasing preference of patient to visit hospitals as compared to ophthalmic clinics. These factors can boost the growth of macular degeneration treatment in end user segment over the coming years.

Some of the prominent vendors operating in the global macular degeneration treatment market are GlaxoSmithKline plc, Novartis AG, Bayer AG, Neurotech Pharmaceuticals, Inc., Ophthotech Corporation, F. Hoffmann-La Roche Ltd., StemCells Inc., Pfizer, Inc., Sanofi, Santen Pharmaceuticals, Allergan, Inc., and Valeant Pharmaceuticals etc.The macular degeneration treatment market is characterized by a large number of partnership and acquisitions, rise in number of product launch and growing dominance of the prominent players. Increase in investments by vendors on research and development activities coupled with technological advancements to offer advanced solutions are predicted to create incremental growth opportunities for industry players in the global macular degeneration treatment market.

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