New York, June 06, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Macular Degeneration Treatment Market Global Market Report 2022" - https://www.reportlinker.com/p06284111/?utm_source=GNW
The global macular degeneration treatment market is expected to grow from $7.55 billion in 2021 to $8.08 billion in 2022 at a compound annual growth rate (CAGR) of 7.04%. The growth is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.65 billion in 2026 at a CAGR of 7.15%.
The macular degeneration treatment market consists of sales of macular degeneration treatment by entities (organizations, sole traders, and partnerships) that are used to treat macular degeneration eye disease.Macula refers to the central portion of the retina, a light-sensitive layer of tissue at the backside of the eye.
The macula is responsible for central vision. Degeneration of the macula, which affects the central part of the retina (the macula) and results in distortion or loss of central vision, occurs most commonly after the age of 60 and is referred to as age-related macular generation (AMD).Macular degeneration treatment helps to slow the disease and prevent severe loss of vision.
The main disease stages of the macular degeneration treatment market are early-stage AMD, intermediate AMD, and late-stage AMD.In early-stage AMD, the macula changes, with medium-sized drusen deposits and no pigment changes, but does not impact vision.
Intermediate AMD is when vision may get blurry or wavy with large drusen or pigment changes.In late-stage AMD, the central vision fails completely, causing vision loss.
The different types of macular degeneration treatment include wet macular degeneration and dry macular degeneration. The different routes of administration of macular degeneration treatment include oral, injectable, and others used by different end-users such as ambulatory surgical centers, ophthalmic clinics, and hospitals.
In 2021, North America will be the largest region in the macular degeneration treatment market.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing burden of retinal disorders is expected to propel the growth of the macular degeneration treatment market.Retinal disorders affect the vital tissue and affect the way individuals process visual information, leading to distorted or absent vision.
According to a study done in Tanzania in 2020 about the prevalence of retinal diseases and associated risk factors, out of 1,007 people, the prevalence of vitreoretinal disorders was 22.8% (230/1,007). The study was conducted by OSLI Retina, which focuses solely on retinal diseases, surgery, and pharmacotherapy. The leading retinal diseases were age-related hypertensive macular scars (2.7%), retinopathy (4.5%), and degeneration (7.0%). According to the American Academy of Opthalmology, in 2050, an estimated 7.32 million people in the United States will have primary open-angle glaucoma, with the highest numbers among populations aged 70 to 79 years (32%), women (50%), and Hispanics (50%). The largest demographic group is Hispanic men. Therefore, the increasing burden of retinal disorders is driving the growth of the macular degeneration treatment market.
The development of advanced therapies is a key trend gaining popularity in the macular degeneration treatment market.Advanced therapy, including gene therapy, for the treatment of disease has seen development in recent years, particularly within the world of inherited retinal disease.
For instance, in the year 2019, Spark Therapeutics, a USA-based gene therapy treatment company, developed Luxturna, which is a therapy designed to treat patients with mutations on a gene called RPE65, which encodes a retinal protein necessary for the eye in order to respond to light.
In September 2021, Novartis, a Swiss-based pharmaceutical company, acquired Arctos Medical for an undisclosed amount.The acquisition is expected to allow Novartis to find treatments for patients with vision loss and leverage the potential of optogenetics as the basis of successful therapeutics.
Arctos Medical is a Switzerland-based developer of smart medical devices and gene therapy approaches for ophthalmological diseases for treating blindness.
The countries covered in the Macular Degeneration Treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284111/?utm_source=GNW
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