Press release
Macular Edema and Macular Degeneration Market to Witness Comprehensive Growth at a CAGR of 7.4% over the Forecast Period 2024-2033
Macular Edema and Macular Degeneration Market Report
The Business Research Company offers in-depth market insights through Macular Edema and Macular Degeneration Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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..
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Market Segmentation:
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 Driver - Elevated Diabetes Prevalence Fuels Growth In The Macular Edema And Macular Degeneration Market
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.
Competitive Landscape:
Major companies operating in the macular edema and macular degeneration market report are F. Hoffmann La Roche Ltd., Abbvie Inc., Bayer AG, Novartis AG, GlaxoSmithKline plc, Amgen Inc., Regeneron Pharmaceuticals Inc., Biogen Inc., Bausch Health Companies Inc., Clover Therapeutics Inc., Santen Pharmaceutical Co. Ltd., Samsung Bioepis Inc., PanOptica Inc., Regen X Bio Inc., Aerie Pharmaceutical Inc., Apellis Pharmaceuticals Inc., Kubota Pharmaceutical Holdings Co. Ltd., Alimera Sciences Inc., Kodiak Sciences Inc., Acucela Inc., Editas Medicine Inc., IVERIC bio Inc., Lineage Cell Therapeutics Inc., Allegro Ophthalmics Ltd., Ampio Pharmaceuticals Inc., Neurotech Pharmaceuticals Inc., Graybug Vision Inc., Clearside Biomedical Inc., Ocugen Inc., Opthea Limited
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