Wet Macular Degeneration Market: Overview

Macular degeneration is a weakening or collapsed working of the eyes’ macula. Macula is the small area on the retinal surface covered by the light-sensitive tissue lining which is blackish area of the eye. This part of the retina is responsible for individual’s central vision, allows viewing fine objects clearly. Generally old aged people develop macular degeneration because of natural aging process of the body. There are two types of macular degeneration namely dry (atrophic or non-neovascular) and wet (exudative or neovascular). Wet macular degeneration is a beginning of abnormal growth of blood vessels underneath the retina, these overgrown blood vessels leak blood which hamper clarity of central vision leading to macular degeneration. The prevalence of people living with wet macular degeneration is less as compared to dry form, but it causes more damage to central or detail vision. 

Wet Macular Degeneration Market: Drivers and Restraints

Macular degeneration occurs in people above 60 years of age whereas younger people are also at risk. According to study conducted by AMD (Age related Macular Degeneration) Alliance International, approximately 30 million people live with AMD worldwide out of which 10-15% have wet type of macular degeneration. The increasing number of old age population all over the world is creating the high rise demand in wet macular degeneration market.  According to World Health Organization (WHO) report, percentage of old people (above age of 60 years) has increased from 9.2% in 1990 to 11.7% in 2013 and expected to become 21.1% by year 2050. The total number of old age people all over the world was 841 million in 2013 and number is probable to touch 2 billion in 2050. All these facts represent high demand for the products for the treatment of wet macular degeneration globally in coming future. The technological advancements in diagnosis of macular degeneration and suitable reimbursement circumstances are driving the growth of the market. On the other hand high cost involved and limited awareness in developing world may hinder the growth of the global wet macular degeneration market. In last couple of years, many companies have invested heavily in research and development of drugs on wet macular degeneration such as Allergan completed Stage 3, Phase 2 study of abicipar pegol. In a 2010, VisionCare Ophthalmic Technologies, developed and got approval from FDA for implantable device that magnifies images on the retina to improve central vision compromised by macular degeneration.

Wet Macular Degeneration Market: Segmentation

Wet macular degeneration market can be segmented according to different categories such as geography, types of products. Geographically, this market can be segmented in four regions namely North American, Europe, Asia-Pacific and Rest of the World, out of all these segments North America region have highest contribution in terms of value because of more awareness and higher percentage of total income spent on healthcare compared to other economies. Followed by this, Europe, Asia-Pacific and Rest of the World respectively are major segments of the market. However the growth of the market may be significant in emerging economies in Asia and Africa looking at increasing number of old age population. The market can also be segmented according to products such as devices and drugs. In current scenario, clinicians are relied on drugs rather than devices (implantable telescopes) as it cost very high and yet to get popularity among medical fraternity.

Wet Macular Degeneration Market: Company Profiles

Currently various established companies in pharmaceuticals, especially in ophthalmology market which are catering varied range of products for wet macular degeneration, out of which companies such as Alcon Nordic, Genzyme Corporation, Boehringer Ingelheim GmbH, EyeGate Pharmaceuticals, Inc., EyeCyte, Inc., PanOptica, Inc. and Ophthotech Corp. are leading contributors this market.

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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wet Macular Degeneration Market

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