Juvenile Macular Degeneration Treatment Market Set to Grow According to Forecasts 2020 2030 Industrial IT – Industrial IT

Juvenile Macular Degeneration Treatment: Introduction

Juvenile macular dystrophy, also known as juvenile macular degeneration, refers collectively to a group of rare and genetic inherited eye disorders that can affect children and young adults. Juvenile macular dystrophy involves the deterioration of the eyes macula; however, it is different from age-related macular degeneration (AMD).

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AMD occurs as part of the bodys natural aging process and affects older adults; however, juvenile macular dystrophy is an inherited condition, which primarily targets the vision of children, teens, and young adults.

Key Drivers and Restraints of Global Juvenile Macular Degeneration Treatment Market

Increase in R&D activities, rise in number of patients suffering from diseases, and rapid expansion of health care and biopharmaceutical industries in developed and developing countries are anticipated to propel the global advancements in therapies in the juvenile macular degeneration treatment market during the forecast period. In June 2018, Lin BioScience granted orphan drug designation to LBS-008, a first-in-class oral therapy, for the treatment of Stargardt Disease by the European Medicines Agency.

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Juvenile macular degeneration is currently an untreatable inherited condition that causes permanent vision loss in children during childhood and adolescence. Stargardt disease is the most common form of juvenile macular degeneration that affects approximately 37,000 individuals in the U.S. and 66,000 in the EU. Currently, there is no approved treatment for Stargardt patients. The disease is caused due accelerated formation and accumulation of toxic vitamin A dimers in the retina caused due mutation in the ABCA4 gene, which cause progressive retinal cell death. Consequently, this process eventually leads to legal blindness with only peripheral vision remaining.

Increase in the number of eye care centers has been recorded, since primary eye care is presently taken care of in optical shops. New optical shops have the latest technological devices that improve user friendliness. Rise in the number of optical shops, eye care centers, and hospitals has increased the availability of treatment.

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In terms of end-user, the global juvenile macular degeneration treatment market can be categorized into hospitals, ophthalmic clinics, and ambulatory surgical centers. The hospitals segment accounted for a major share of the global macular degeneration treatment market. The segment is likely to maintain its leading position during the forecast period. A large population prefers to visit a hospital first rather than an ophthalmic clinic for treatment, as the cost of therapy at a hospital is lower. An ambulatory surgical center is a relatively less preferred option for the treatment of AMD.

Asia Pacific to Lead Global Juvenile Macular Degeneration Treatment Market

In terms of geography, the global juvenile macular degeneration treatment market can be segmented into five key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to hold major share of the global juvenile macular degeneration treatment market during the forecast period, owing to developed health care infrastructure and large patient population along with increasing technological development in these regions.

Increase in government intervention in emerging markets has led to a rise in awareness about diseases and improvement in health care infrastructure. Additionally, socioeconomic development has been observed in emerging economies such as Asia, Africa, and Latin America. These factors contribute to the overall increase in spending capacity of the population. Moreover, an increase in the foreign direct investment has been observed in these countries. This has led to various international players who are presently entering into these markets.

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Key Players Operating in Global Juvenile Macular Degeneration Treatment Market

Manufacturers in the global juvenile macular degeneration treatment market are increasingly investing in research & development of new and innovative drugs such as Alkeus Pharmas lead compound, ALK-001; Katairo GmbH lead product, Remofuscin; Gene Therapy to Activate ABCA4 for Stargardt Disease and Recombinant Enzyme for Age Related Macular Degeneration and Stargardt Disease. These players are also focused on offering highly efficient and patient compliant products.

Leading companies operating in the global juvenile macular degeneration treatment market are:

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Juvenile Macular Degeneration Treatment Market Set to Grow According to Forecasts 2020 2030 Industrial IT - Industrial IT