Geographic Atrophy Treatment Market By Diagnosis, Optical Coherence Tomography Angiography, and Multifocal Electroretinography ), By Clinical trials, By End User, and Geography
Geographic atrophy treatment market size was valued at US$ 32.6 Billion in 2022 and is anticipated to reach US$ 68.5 Billion by 2029, growing at a CAGR of 11.2% from 2023 to 2029. Geographic atrophy (GA) is a chronic progressive degeneration of the macula, as part of late-stage age-related macular degeneration (AMD). The disease is characterized by localized sharply demarcated atrophy of outer retinal tissue, retinal pigment epithelium, and choriocapillaris. the rapidly growing geriatric population and high demand for effective treatment options influence the market growth.
According to the American Academy of Ophthalmology, over 8 million people are affected worldwide with GA, approximately 20% of all individuals with AMD. The incidence of GA is expected to rise as the age burden of developed countries is increasing. The several risk factors associated with geographic atrophy, it is shown in the geriatric population the high rate of prevalence, and emerging novel treatment options drive the market growth. Advances in healthcare technology and focus on research and development activities accelerate the market growth, and the numerous incidences result in high demand for novel drugs creating lucrative opportunities in the market.
Furthermore, the lack of focus on visual restoration and the failure of investigational drugs limits the market growth. In addition, limited knowledge about geographic atrophy hinders industry growth. it is predicted that in the following years, increasing health awareness and growing healthcare infrastructure boost the market growth. By regional analysis, North America held the major market share in 2022 and is expected to dominate the global Geographic Atrophy Treatment market due to the rise in the incidence of retinal diseases and surging spending on healthcare development contribute to the market growth in the forecast years.
Study Period
2024-2030Base Year
2023CAGR
11.2%Largest Market
North AmericaFastest Growing Market
Asia Pacific
The increasing prevalence of dry muscular degeneration across the world is the major market driver in the geographic atrophy treatment Market during the forecast period. Dry muscular degeneration is a common eye disorder among people over 50 years, it causes blurred eye vision due to the breaking down of the inner layer of the macula, the rapidly increasing geriatric population demands effective treatment options, FDA and Other Drugs regulatory authorities are continuous focusing on clinical trials of the geography atrophy treatment drugs to develop patient-friendly dosage, overall contributing to treatment drive the market growth with significant growth.
Geographic atrophy treatment market share is segmented into North America, Asia-pacific, Europe, the Middle East, and the African region. The market in the Asia Pacific hold a significant revenue share in 2022, and, in the following years, it is predicted to increase rapidly. It is attributed to the increasing number of eye disorders and dry muscular degeneration demands for operative treatment options. According to the National Institutes of Health, Geographic atrophy was more prevalent in South Asia (based on studies from India and Nepal, 3.82 per 1000 persons) compared with East Asia (based on studies from China, Korea, Hong Kong, Taiwan, and Japan, and the Singapore Chinese Eye Study, 0.76 per 1000 persons). the high rate of prevalence and increasing well-developed infrastructure it is expected to grow at a significant rate in the forecast years.
North America is holding the major market share in the global market and is expected to dominate the market in the upcoming years due to the increasing geriatric population and changes in lifestyle becoming major factors. In the United States, researchers estimate GA's prevalence is approximately 0.81% having the atrophic form in at least one eye but increases to 3.5% in patients older than 75. With the continues focus on the development of novel drugs by the researchers and presence of global key players in the region it is expected to continue its dominance in the forecast years.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market CAGR |
11.2% |
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By Diagnosis |
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By Clinical Trials |
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By End User |
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By Region |
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The Geographic Atrophy Treatment Market size was valued at US$ 32.6 Billion in 2022 and is anticipated to reach US$ 68.5 Billion by 2029
The Geographic Atrophy Treatment Market is poised to grow at a significant CAGR of 11.2% from 2023 to 2029.
The leading players in the Geographic Atrophy Treatment Market are Allergan, Hemera Biosciences, Roche, Iveric Bio, NGM Biopharmaceuticals, Allegro Ophthalmics, Alkeus Pharmaceuticals, Gensight Biologics, AstraZeneca, Stealth BioTherapeutics, Gyroscope Therapeutics, Apellis Pharmaceuticals, Lineage Cell Therapeutics, and Regenerative Patch Technologies
Historic years considered for the market study are 2018 through 2022, 2022 is considered as the base year for market estimation and Seven years forecast is presented from 2023 – 2029.
Key Market Players
Author
Muni Kumar Meravath is a seasoned Healthcare Market Research Analyst with over 6 years of experience in the healthcare domain, encompassing pharmaceuticals, medical devices, and diagnostics. A graduate in Pharmacy, he possesses a strong foundation in the intricacies of the healthcare sector. He further enhanced his expertise by pursuing an MBA in Pharmaceuticals, equipping him with valuable business acumen. His analytical skills and market insights have contributed to strategic decision-making and enhanced market positioning for various healthcare organizations. Committed to driving innovation and excellence, Muni continues to seek opportunities to improve healthcare delivery through data-driven insights.
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