Increase in the aging population has become an issue that leads to a growing number of macular edema and degeneration case. This contributes to market growth. During the COVID-19 pandemic, the focus was on finding effective vaccinations and treating infected patients. Hence, less attention was given to macular edema and macular degeneration treatment and surgery.
Portland, OR, Oct. 26, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Global Macular Edema And Macular Degeneration Market generated $8.30 billion in 2020, and is expected to reach $16.53 billion by 2030, exhibiting a CAGR of 7.3% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
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Rise in the aging population and developments in treatment methods propel the market growth. On the other hand, dearth of skilled professionals hinders the market progress. On the contrary, increase in R&D investment by pharmaceuticals offers several opportunities.
Therapies such as Lucentis (ranibizymab) & Avastin drugs for macular degeneration and anti-vascular endothelial growth factor drugs to treat diabetic macular edema play a significant role during the Covid-19 pandemic. However, very few surgeries could be performed due to social distancing norms and lockdowns.
Most of the resources and efforts were inclined toward treating COVID-19 infected patients. Prolonged lockdown disrupted the supply chain and affected the availability of surgical instruments.
The report segments the global macular edema and macular degeneration market on the basis of treatment type, application, end-user, and region.
Based on the treatment type, the drug therapy segment accounted for the largest market share in 2020, contributing to more than 90% of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the laser treatment segment is estimated to witness the fastest CAGR of 10.3% from 2021 to 2030.
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Based on application, the macular degeneration segment contributed to the highest market share in 2020, contributing to more than half of the total market share, and is anticipated to dominate the market during the forecast period. On the other hand, the macular edema segment is expected to manifest the fastest CAGR of 7.5% from 2021-2030.
Based on region, North America contributed to the highest share in 2020, holding around two-fifths of the total share, and is expected to maintain dominance throughout the forecast period. On the other hand, Europe is expected to portray the fastest CAGR of 8.6% during the forecast period.
Key players of the global macular edema and macular degeneration market analyzed in the research include Novartis AG , F. Hoffmann-La Roche Ltd, Kubota Pharmaceutical Holdings Co., Allergan, Regeneron Pharmaceuticals Inc, Bausch Health Companies Inc., GlaxoSmithKline plc, Bayer AG, Alimera Sciences, and RegenX bio.
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