New York , Nov. 03, 2022 (GLOBE NEWSWIRE) -- The global macular degeneration treatment market recorded a CAGR of 6.2% in the last 9 years from 2012 to 2021 and reached a market value of around US$ 8.6 Bn in 2021. The market is estimated to surge ahead at a CAGR of 7.4% to reach US$ 18.8 Bn by the end of 2032.
As assessed by Persistence Market Research, anti-vascular endothelial growth factors accounted for a market share of 60.8% in 2021.
Overall, macular degeneration treatment accounts for approximately 18.7% revenue share of the global neurodegenerative disorders treatment market, which was valued at around US$ 45.9 Bn at the end of 2021.
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“Rising Prevalence of Retinal Disorders and Development of Long-acting Anti-VEGF Drugs”
The prevalence of retinal disorders, the rise in the elderly population, and increased spending on research & development are the main drivers for the macular degeneration treatment market. The burden of retinal diseases is rising, which is fuelling market expansion.
Key Takeaways from Market Study
- The U.S. accounted for 91.8% share of the North American macular degeneration treatment market in 2021, and a similar trend is expected over the forecast period.
- The U.K. held 23.2% share of the European macular degeneration treatment market in 2021. The U.K. has over 1.5 million individuals suffering from macular disease.
- China held the largest market share of 42.7% of the East Asian macular degeneration treatment market in 2021.
- The anti-vascular endothelial growth factor (anti-VEGF) segment held 60.8% share of the macular degeneration treatment market in 2021.
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Market Landscape
Major macular degeneration drug manufacturers are adopting strategies such as research collaborations for the development of novel products. Moreover, several market players have a strong pipeline for therapeutics, intended to be launched through patient protection and licensing.
- Mosaic Biosciences and Ocular Therapeutix announced a research agreement in June 2021 to develop a medication to treat individuals with dry age-related macular degeneration. This collaboration strengthens the company's R&D portfolio and offers the business a substantial growth opportunity.
- Novartis AG received European Commission authorization to market Beovu in February 2020. It is an anti-VEGF medication used to treat patients with wet AMD.
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