Age-related macular degeneration (AMD) is a health issue associated with the retina. According to the National Medical Research Council (Singapore), age-related macular degeneration accounts for 8%-7% of the total blindness cases worldwide. It is the most common cause of blindness in developed countries, particularly in people aged above 60 years. AMD occurs when a piece of the retina called the macula is harmed. The patient suffering from AMD can lose the focal vision. A patient cannot see fine points of interest, regardless of whether he/she is taking a gander at something close or far. In any case, the fringe (side) vision is normal. In a few patients, AMD progresses so gradually that vision loss does not occur for quite a while. In others, the sickness advances more rapidly and is likely to result in loss of vision in one or both eyes. Depending on the cause of macular degeneration, the treatment is started. The macular edema may take several months to recover. During this time, it is important to follow the treatment regimen more effectively. There exist three stage of AMD viz. early AMD, intermediate AMD, and late AMD.
Based on type, the age-related macular degeneration (AMD) treatment technology market has been divided into dry AMD and wet AMD. The wet AMD segment dominated the age-related macular degeneration treatment technology market. Wet AMD is a highly developed type of AMD and is likewise alluded to as sub-retinal neovascularization degeneration. In wet AMD, the layer beneath the retina thickens and afterward breaks to spill blood and liquid. This spillage causes brokenness and disturbance of the retina, framing blind sides in the focal vision. It can even cause visual deficiency. Based on test, the age-related macular degeneration (AMD) treatment technology market has been divided into visual acuity test, dilated eye test, amsler grid test, fluorescein angiogram, and optical coherence tomography test. The fluorescein angiogram segment is expanding at a more rapid pace than other test segments such as fluorescein angiography. In fluorescein angiography, a fluorescein color is infused into a vein in the arm, has prompted an expansion in the conclusion rate extensively. Developing upgrade in the analysis rate for this eye condition will convert into the interest for therapeutics for AMD in the next few years. The adjustment in way of life have the expanded rate of diabetic patients is significant driving variables of macular therapeutics advertise comprehensively. Smoking, race, family history, and genetics have immense effect on human wellbeing currently. Because of these factors, several eye sicknesses can occur. Growing elderly population has led to high increase in eye infections. Moreover, with improved diagnosis facilities and significant technological advancements in the health care sector such as laser surgery, photodynamic therapy, and adaptDx dark adaptometer; the market has witnessed surge in the rate of diagnosis of AMD. However, the market is likely to be hampered during the forecast period, owing to lack of trained ophthalmologists, high cost of wet AMD drugs, and associated high risk.
Geographically, North America led the global age-related macular degeneration treatment technology market. The rising elderly population is one of the key factors driving the market in the region. Besides, the availability of patient help programs conducted by legislative and non-administrative associations in North America is considered to have a positive impact on the market in the region. According to the Wet Age-related Macular Degeneration Coalition Expert Summit convened in Hong Kong in February 2013, the commonness of early and late AMDs among the people in Asia Pacific aged between 40 and 79 is estimated to be 6.8%. The number of people affected is expected to increase immensely in the next few decades. According to a projection by the United Nations, almost 24% of people in Asian would be aged 60 years and above by 2050. Middle East & Africa showcase for macular edema is driven by the developing predominance for vision impedance. Advancements in the field of medicine is a key factor driving the market. Expanding geriatric population around the district alongside an expansion in the discretionary cash flow of the general population are a portion of the other driving components.
Key players operating in the global age-related macular degeneration treatment technology market include Bayer HealthCare, F. Hoffmann-La Roche, Novartis, and Regeneron Pharmaceuticals. Other prominent vendors in the market are: Alcon, Allergan, Adverum Biotechnologies, Bausch + Lomb, Gilead Sciences, Iconic Therapeutics, Lpath, Neurotech Pharmaceuticals, Ohr Pharmaceutical, Opthea, Ophthotech, PanOptica, and Pfizer.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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