Juvenile Macular Degeneration Market: Key Growth Factors and Opportunity Analysis by 2027

 


Market Highlights

Eye care has become one of the important aspects of medicine due to the continuous development of new therapies and availability of technologically advanced devices for eye care. Furthermore, the prevalence of eye disease is found to be increasing for all ages. Macular degeneration diseases such as Best disease and Stargardt disease are found to be highly prevalent among the children. Market players are now focusing on the development of novel therapies such as stem cell therapy to reduce the supply-demand gap in the market. Eye care supplement act as a protective measure whose demand is found to be increasing in the developing countries across the globe. Additionally, increasing demand for early diagnosis and treatment is boosting the market growth.

Global Juvenile Macular Degeneration (Stargardt Disease) market is expected to grow at a CAGR of 7.2% during the forecast period 2017-2023.

Segmentation

The global juvenile macular degeneration (Stargardt Disease) market is segmented on the basis of diagnosis, devices and end users.

On the basis of diagnosis, the market is segmented into Fluroscein Angiography (FA), Fundus Autofluorescence (FAF), Optical Coherence Tomography (OCT), and Electroretinography (ERG).

On the basis of devices, the market is segmented into magnifying spectacles, magnifiers, reading telescope.

On the basis of end users, the market is segmented into hospitals & eye clinics, and research & academic institutes.

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Regional Analysis

The global juvenile macular degeneration market consists of four major regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.

America holds the largest market share in the juvenile macular degeneration market owing to increasing prevalence of eye diseases in the U.S. and Canada. Demand for eye care supplements, availability of specialty services further fuels the growth of the market. According to World Health Organization (WHO), in 2014, worldwide 285 million people were visually impaired in which 246 have low vision and 39 million are completely blind. Moreover, the North America region accounted for USD 163.23 Million in 2016.

The European juvenile macular degeneration market accounted for 32.7% market share in 2016. In Europe, Germany, the U.K, and France are the largest contributors to the market owing to the availability of funds for research, and extensive research and development activities in ophthalmology. The development of novel therapies and other treatment options for juvenile macular degeneration also fuel the growth of the market.

In Asia Pacific, India, and China are the fastest developing regions in the market owing to an overall demand for early diagnostic and treatment services, and increasing expenditure on primary care services across Asia Pacific.  Rising awareness about degeneration among the children and available treatment options also influence the growth of the market. The growth of the market is also influenced by improvement in the delivery of care in the number of healthcare institutes such as hospitals, specialty clinics, diagnostic center, and others.

The Middle East & Africa exhibit steady but positive growth owing to low technology penetration in developing regions of Africa, and increasing demand for diagnostics services in developing regions. In the Middle East, the United Arab Emirates accounts for the largest market share for macular degeneration.

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Key Players

Some of key the players in the market are  Acucela Inc. (U.S.), Alkeus Pharmaceuticals Inc. (U.S.), Astellas Pharma Inc. (Japan), ProQR Therapeutics NV (Netherland), Sanofi (France), Bayer HealthCare (Germany), F. Hoffmann-La Roche   (Switzerland), Copernicus Therapeutics Inc. (U.S.), Grupo Ferrer Internacional SA (U.S.), Iris Pharma (U.S.), Nemus Bioscience Inc (U.S.), Ophthotech Corp (U.S.), Iconic Therapeutics (U.S.), Adverum Biotechnologies (U.S.), PanOptica (U.S.), RXi Pharmaceuticals (U.S.), Neurotech Pharmaceuticals (U.S.)

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