Macular Edema and Macular Degeneration Market Size, Share, Top Major Players, Business Strategies, Opportunities And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Macular Edema and Macular Degeneration Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, 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 Drivers and Trends:

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.

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.

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Major Key Players of the Market:

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

Macular Edema and Macular Degeneration Market 2024 Key Insights:

• The macular edema and macular degeneration market is expected to grow to $12.84 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• Elevated Diabetes Prevalence Fuels Growth In The Macular Edema And Macular Degeneration Market
• Innovative Medication Advancements In The Macular Edema And Macular Degeneration Market
• North America was the largest region in the macular edema and macular degeneration market market in 2023

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