Juvenile Macular Degeneration Treatment Market Trends [2031]

Report Description

Juvenile Macular Degeneration Treatment Market Outlook 2031

The global juvenile macular degeneration treatment market size was USD 14.36 billion in 2022 and is likely to reach USD 21.56 billion by 2031, expanding at a CAGR of 8.6% during 2023–2031. The growth of the market is attributed to the rising burden of retinal disorders, the upsurge in the geriatric population, and the increase in research and development investments. 

Juvenile macular degeneration treatment addresses the unique challenges posed by macular degeneration in the young population. This treatment includes innovative solutions to manage and reduce the impact of this degenerative eye condition in juveniles. The rising prevalence of eye disorders and the development of new drugs and therapies are all supporting factors for the market growth. Key players in the market increase their market presence with product innovations by introducing new products. For instance,

• In November 2022, IVERIC bio, Inc. announced the submission of the first part of the NDA to the US FDA for a rolling review of Avacincaptad Pegol. It is a new investigational complement C5 inhibitor that has the potential to reduce the causes of degeneration of retinal cells and slow down the progression of geographic atrophy.    

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The research report finds that the COVID-19 pandemic hampered the juvenile macular degeneration treatment market. Many healthcare facilities have shifted their focus toward treating COVID-19 patients to reduce the burden of the pandemic. This resulted in a decline in the number of hospital visits for the treatment of macular degeneration. For instance,

• According to the research report published in the SN Comprehensive Clinical Medicine Journal in October 2020, the clinical visits in the Retina Clinic, Israel, for the treatment of macular degeneration decreased from March 15 to April 14 of 2020 as compared to a similar time period from the previous year.

The market is expected to recover and return to its normal operation, as the COVID-19 pandemic outbreak has increasingly subsided across the globe.  

Impact of Artificial Intelligence (AI) on Juvenile Macular Degeneration Treatment Market

AI is anticipated to transform the juvenile macular degeneration treatment market, as it enhances diagnostic and personalized care. Intelligent algorithms analyze complex genetic data and aid in early detection and tailored interventions. The combined effect of AI and treatment strategies propels advancements, promising improved outcomes, and improved therapy for macular degeneration patients.  

Juvenile Macular Degeneration Treatment Market Dynamics

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Major Drivers

Increasing prevalence of macular degeneration in the young population, growing awareness about age-related diseases, and ongoing research & developments in the treatment are anticipated to boost the market during the forecast period. Continuous investments in therapeutic research further fuel the market. New drugs and therapies offer transformative and effective solutions for those affected by juvenile macular degeneration.

Existing Restraints

Lack of understanding of the disease’s complex genetics is likely to hinder the market. Furthermore, regulatory hurdles, the need for extensive clinical trials, and high research costs impede the pace of innovation and hamper the market. However, overcoming these restraining factors is essential to unlock the full potential of treatment solutions.

Emerging Opportunities

Precision medicine and gene therapy are expected to create lucrative opportunities for market players competing in the market. Additionally, rising collaborations between pharmaceutical companies and research institutions to develop effective drugs and treatments create potential opportunities amid growing technological breakthroughs. 

Scope of The Juvenile Macular Degeneration Treatment Market Report

The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Juvenile Macular Degeneration Treatment Market Segment Insights

Type Segment Analysis

On the basis of type, the juvenile macular degeneration treatment market is bifurcated into wet age-related macular degeneration and dry age-related macular degeneration. The wet age-related macular degeneration segment is projected to expand at a significant CAGR during the forecast period, due to the rising geriatric population across the globe. Age-related macular degeneration is a noticeable cause of severe loss of eyesight among people aged 50 years and above.  

The dry age-related macular degeneration segment is anticipated to account for a considerable market share during the projection period, owing to the growing disease burden of dry age-related macular degeneration (AMD) and the expected launch of promising treatment products by 2023. Several novel therapeutic solutions for AMD treatment, including Zimura, Luminate, and Intravitreal pegcetacoplan, are in the clinical pipeline. Thus, approval of these solutions is anticipated to boost the segment in the coming years.

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Treatment Type Segment Analysis

Based on treatment type, the juvenile macular degeneration treatment market is divided into devices, drugs, and surgery. The devices segment is further segregated into contact lenses, glasses, and other devices. The drugs segment is further fragmented into dietary supplements, anti-vascular endothelial growth factor, and other drugs. The surgery segment is categorized as laser surgery and other surgeries.

The drugs segment is anticipated to expand at a substantial CAGR in the coming years, owing to the rising research and development activities at a rapid pace across the globe. Only a few drugs are approved for the treatment of age-related macular degeneration. Thus, several companies are focusing on developing novel drug delivery systems, in order to overcome this challenge.

The surgery segment is expected to hold a significant share of the market during the assessment period. Laser photocoagulation is a type of laser surgery used to treat age-related macular degeneration. Prompt treatment reduces the odds of serious vision loss. This surgery does not bring back patients’ vision, however, helps to keep the central vision for a long period of time. 

Sales Channel Segment Analysis

On the basis of sales channel, the market is segmented into hospitals, ambulatory surgical centers, and other sales channels. The hospitals segment is projected to hold a large market share during the forecast period, due to the increasing number of hospitalized patients for the treatment of macular degeneration, with the rising prevalence of age-related macular degeneration.

Various medications including Beovu, Eylea, and Lucentis are administrated intravenously under the supervision of experienced physicians in hospitals. Thus, the increasing demand for AMD treatment is further expected to increase hospital visits, thereby boosting the segment.

The other sales channels segment is anticipated to account for a considerable market share during the projected period, due to the wide drug availability and reimbursement coverage provided by specialty pharmacies. CVS Caremark provides prescription coverage for Eylea, Lucentis, Avastin, and Beovu to eligible employees and retirees enrolled in the Public Employees Insurance Program (PEIP), thereby fueling the segment.

Regional Analysis

In terms of region, the global juvenile macular degeneration treatment market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market in the coming years, owing to the increasing prevalence of AMD coupled with the rising burden of the geriatric population in the region. As per the American Academy of Ophthalmology, one in ten Americans experienced late AMD by the age of 80, which is more common in women than in men.

The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due to the high disease burden. Favorable government initiatives that support the affordability of costly anti-VEGF products are anticipated to fuel the market in the region. In China, Lucentis and Eylea were added to the National Reimbursement Drug List (NRDL) in 2017 and 2019, respectively.

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