Macular Degeneration Treatment Market: Brands with drug patents accused of extortionately pricing high demand products
Macular Degeneration Treatment Market - Snapshot
The global macular degeneration treatment market was valued at US$ 6.1 Bn in 2017. It is anticipated to reach US$ 11.1 Bn by 2026, expanding at a CAGR of 6.4% from 2018 to 2026. Increase in R&D investments by key players has resulted in innovative products. Increase in prevalence and incidence of retinal disorders, rise in the geriatric population, high annual cost of therapy (ACOT) for pipeline drugs, improved health care as well as health care infrastructure, introduction of novel therapies, and surge in the number of awareness programs are likely to drive the global macular degeneration treatment market during the forecast period. Continued pressure from players mandating the use of Avastin for wAMD and invasive administration methods are anticipated to restrain the global market in the near future. However, developed countries, such as Japan, Germany, the U.S, Canada, France, and Australia offer immense opportunities to the macular degeneration treatment market. This is attributed to the large number of patients, rise in proportion of urban population, and high reimbursement.
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The global macular degeneration treatment market has been segmented based on disease indication, drug class, distribution channel, and region. Based on disease indication, the wAMD segment is projected to lead the market, in terms of revenue, and dominate the market during the forecast period, followed by the dAMD segment. Introduction of new anti-VEGF drugs, such as brolucizumab, and less frequent administration regimen in the existing anti-VEGF (Eylea) for treatment of wAMD are estimated to propel the segment.
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In terms of end-user, the global macular degeneration treatment market has been categorized into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment accounted for a major share of the global macular degeneration treatment market in 2017. The segment is likely to maintain its leading position during the forecast period. A large population prefers to visit a hospital first rather than an ophthalmic clinic for treatment, as the cost of therapy at a hospital is lower. An ambulatory surgical center is a relatively less preferred option for the treatment of AMD.
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In terms of drugs, the global macular degeneration treatment market has been classified into anti-VEGF and others. The anti-VEGF segment accounted for a major share of the global macular degeneration treatment market in 2017. In 2007, Lucentis became the first anti-VEGF launched for wet AMD as well as other important retinal diseases. It was quickly recognized as the new gold standard for treatment. In 2013, Eylea was also approved for AMD and launched at a marginally lower price; other indications were later added. However, the launch of Novartis’ longer-acting anti-VEGF, brolucizumab is projected to boost the wAMD segment during the forecast period by replacing some use of inexpensive Avastin.
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In terms of region, the global macular degeneration treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global macular degeneration treatment market, in terms of revenue, in 2017. It is projected to maintain its dominance during the forecast period. High rate of adoption of prescription AMD disease drugs in the U.S. and increase in the number of approvals for new drugs from the U.S. FDA are major factors responsible for the high share held by North America in 2017. Asia Pacific is anticipated to gain market share during the forecast period owing to a large patient pool, increasing per capita health care expenditure, and increasing investment by key players in this market.
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Major players operating in the global macular degeneration treatment market are Allergan, Inc., Pfizer, Inc., Novartis AG., REGENERON PHARMACEUTICALS, INC., Ophthotech, Santen Pharmaceuticals, Valeant Pharmaceuticals, F. Hoffmann-La Roche Ltd., Sanofi, Ohr Pharmaceutical, Apellis, and Bayer AG. The market is characterized by a large number of acquisitions, which has led to market consolidation and increasing dominance of the top players.
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