Macular degeneration is a group of eye disease commonly found among children and adults. There are various types of macular degeneration affecting the teens such as Cone-Rod Dystrophy, Best disease, Stargardt disease, Corneal Dystrophy, and Fuch’s Dystrophy. Best disease and Stargardt disease are the most common types of macular degeneration, from which Stargardt disease is an inherited juvenile degeneration characterized by reduced central vision. Stargardt causes vision impairment in about 1 million people worldwide. The disease has a prevalence of 1/8,000 to 1/10,000 worldwide.
According to the World Health Organization (WHO), 285 million people are estimated to be visually impaired worldwide. Rising prevalence of macular degeneration diseases among children, increasing demand for new treatment options, and extensive research and development activities are driving the growth of the market. Furthermore, rising awareness about healthcare and growing emphasis on child health is also fuelling the growth of the market in developing regions. The need for early diagnosis and treatment is further boosting the growth of the market.
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The major driving factors for the global juvenile macular degeneration (Stargardt disease) market are increasing the prevalence of eye disorders, development of new drugs, and therapies, and emerging government policies. However, lack of awareness and no treatment option for Stargardt disease may hamper the market growth.
Global Juvenile Macular Degeneration (Stargardt Disease) Market is expected to grow at a CAGR of 6.7 % during the forecast period, 2017-2023.
- Pharmaceutical Companies
- Government and private research companies
- Research and Development (R&D) Companies
- Drug Manufacturers and Suppliers
- Medical Research Laboratories
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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.
The global juvenile macular degeneration (Stargardt disease) market is segmented on the basis of regions: America, Europe, Asia Pacific, and the Middle East & Africa.
In America, the market is driven by rising prevalence of macular degeneration among children, and availability of various treatment options for the treatment of the diseases. Furthermore, the concentration of key market players is also fuelling the growth of the market. Furthermore, rapid developments in technology have fuelled the growth of the market. As per the World Health Organization (WHO), nearly 11 million people in the U.S. have some form of age-related macular degeneration and the number is expected to reach nearly 22 million by 2050.
Europe holds the largest Juvenile Macular Degeneration (Stargardt Disease) market whose market is driven by the increasing number of clinical trials, and availability of funds for research. There is an increasing demand for new eye care device and supplements across European countries such Germany, France, and the U.K.
Asia Pacific is expected to be the fastest growing market owing to the availability of skilled professional such as ophthalmologist, and eye surgeons. Additionally, improving healthcare infrastructure in developing countries like India is further fuelling the growth of juvenile macular degeneration market. China and India contribute to the growth of the market.
On the other hand, the Middle East & Africa hold the least share of the market due to the low prevalence of macular degeneration in the region and limited availability of funds and availability of medical facilities. The Middle East has a huge share for the juvenile macular degeneration market due to the presence of well-developed countries like Kuwait, Qatar, Oman and Saudi Arabia. However, due to the presence of a huge opportunity for the development of the market, Africa region is expecting a healthy growth in near future.
- The fluroscein angiography (FA) is expected to grow at a CAGR of 6.9%
- According to the management, magnifying spectacles is the largest segment valued at USD 283.023 million in 2016
- According to the end user, the hospitals & eye clinics is the fastest growing segment at a CAGR of 6.9%.
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Key Players in Global Juvenile Macular Degeneration Market
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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