Report Code : A00501
Increase in number of patients suffering from chronic diseases, further fuels growth of the global macular edema and macular degeneration market.
Hemalata Kundala
Lead Analyst, Healthcare at Allied Market Research
According to a new report published by Allied Market Research, titled, “macular edema and macular degeneration market by treatment, application and end user: global opportunity analysis and industry forecast, 2021–2030,” the global macular edema and macular degeneration market size was valued at $8,301 million in 2020, and is projected to reach $16,530 million by 2030, registering a CAGR of 7.3% from 2021 to 2030. Generally elderly population develop macular edema and macular degeneration, owing to natural aging process of the body. In addition, the disease poses greater risk among adults aged between 40 and 80, thus it can be associated with age related syndromes such as macular degeneration, vascular diseases, and obstructive sleep apnea. There are two types of macular degeneration, namely, dry age-related macular degeneration and wet age-related macular degeneration. Wet macular degeneration is the 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. 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.
Almost every nation is dealing with the outbreak. Most markets are experiencing a decline, owing to the outbreak. The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a negative impact on the macular edema and macular degeneration market. Macular edema and macular degeneration specialists prefer drug therapy, laser treatment for macular edema and macular degeneration treatment and surgery. The most commonly performed treatment was laser treatment procedure in macular edema and macular degeneration before the COVID-19 pandemic. Although laser treatment remains the most commonly performed established macular edema and macular degeneration treatment and surgery, which is being performed with reduced frequency during the COVID-19 pandemic due to decreasing number of postoperative visits and procedures required.
On the basis of treatment type, the market is segmented into drug therapy, and laser treatment. The drug therapy segment accounted for the majority of market share of the global market in 2020. The factors such as increase in prevalence of diabetes patients who have diabetes for many years can develop neuropathy, a reduced or complete lack of vision due to nerve damage and surge in cases of diabetic macular edema (DME) drives the growth of the market.
By application, the market is segmented into macular edema (diabetic macular edema (DME) and cystoid macular edema (CME)) and macular degeneration (dry age-related macular degeneration and wet age-related macular degeneration). The macular degeneration segment accounted for the majority of market share in 2020, and is expected to remain dominant during the forecast period, owing to rise in occurrence of diabetes due to unhealthy lifestyle of people and increasing cases of diabetes. These are the factors that propel the market growth.
By end user, the market is segmented into hospitals, clinics, and others. The hospital segment accounted for maximum market revenue in 2020, and is anticipated to maintain its dominant position during the forecast period. This is attributed to increase in cases of diabetes and treatment of macular edema and macular degeneration including drug therapy, and laser treatment in hospitals.
Region wise, the macular edema and macular degeneration market is analyzed across North America, Asia-Pacific, Europe, and LAMEA. North America dominated the market in 2020, accounting for the highest share and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increasing case of diabetic macular edema (DME), cystoid macular edema (CME), dry age-related macular degeneration, and wet age-related macular degeneration, thus rise in demand for macular edema and macular degeneration treatment to treat macular edema and macular degeneration is a major factor that contributes toward growth of the macular edema and macular degeneration market. However, as per macular edema and macular degeneration market forecast, Europe is projected to register highest growth rate from 2021 to 2030. The major factors attributing to the growth of the macular edema and macular degeneration market in Europe are the increasing burden of retinal disorders, upsurge in the geriatric population, and increase in R&D investments. In addition, increased prevalence of chronic diseases, particularly diabetes due to obesity and unhealthy lifestyle, is expected to drive the market growth during the forecast period. As a result, such an occurrence is expected to increase the demand for macular edema and macular degeneration treatment and boost the market growth. Moreover, improving and expanding healthcare infrastructure and economic development in Europe is expected to exhibit the fastest market growth during the forecast period.
Key Findings Of The Study
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Macular Edema and Macular Degeneration Market by Treatment Type (Drug Therapy and Laser Treatment) Application (Macular Edema and Macular Degeneration), and End User (Hospitals, Clinics and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
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