The Macular Edema and Macular Degeneration Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Macular Edema and Macular Degeneration Global Market Report 2024, The macular edema and macular degeneration market size has grown strongly in recent years. It will grow from $8.84 billion in 2023 to $9.65 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to aging population, prevalence of diabetes, awareness and early diagnosis, global initiatives in eye health, pharmaceutical innovations, patient advocacy and support..
The macular edema and macular degeneration market size is expected to see strong growth in the next few years. It will grow to $12.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to personalized medicine approaches, rising awareness in emerging markets, focus on combination therapies, integration with teleophthalmology services, global aging demographics.. Major trends in the forecast period include advancements in sustained-release drug delivery, integration of gene therapies, development of novel imaging technologies, personalized treatment approaches based on biomarkers, teleophthalmology for remote monitoring, advancements in artificial intelligence for diagnostics..
The rising diabetes population is expected to propel the growth of the macular edema and macular degeneration market going forward. Diabetes is a chronic medical condition characterized by high glucose (sugar) levels in the blood. Diabetes damages the blood vessels in the eye, which can result in macular edema and macular degeneration. For instance, in April 2023, according to a report published by The British Diabetic Association, a UK-based diabetes charity, the number of people living with diabetes has reached an all-time high of over 5 million, with 4.3 million people diagnosed with diabetes and an estimated 850,000 people living with the condition but not yet diagnosed. Further, more than 2.4 million people in the UK are at high risk of developing type 2 diabetes, and registration numbers for 2021-22 are up by 148,951 from 2020-21. Therefore, the rising diabetes population is driving the growth of the macular edema and macular degeneration market.
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The macular edema and macular degeneration market covered in this report is segmented –
1) By Treatment Type: Drug Therapy, Laser Treatment
2) By Application: Macular Edema, Diabetic Macular Edema (DME), Cystoid Macular Edema (CME), Macular Degeneration, Dry age-related macular degeneration, Wet age-related macular degeneration
3) By End User: Hospitals, Clinics, Other End Users
Major companies operating in the macular edema and macular degeneration market are focusing on developing innovative products such as Vabysmo (faricimab-svoa) to increase their profitability in the market. Vabysmo (faricimab-svoa) is a medication used for the treatment of neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME). For instance, in January 2022, Genentech Inc., a US-based biotechnology corporation, got Vabysmo (faricimab-svoa) approval from the Food and Drug Administration. It is a bispecific antibody that targets vascular endothelial growth factor (VEGF) and angiopoietin 2 (Ang-2), making it the first bispecific monoclonal antibody for both disorders. Faricimab has the potential to become a blockbuster medication for the treatment of nAMD and DME, and the FDA and EU approval of it has been a significant milestone for Genentech and Roche.
The macular edema and macular degeneration market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Major Players:
- F. Hoffmann La Roche Ltd.
- AbbVie Inc.
- Bayer AG, Novartis AG
- GlaxoSmithKline PLC
- Amgen Inc.
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