Macular Edema and Macular Degeneration Market Growth Outlook
The global market for macular edema and macular degeneration was valued at approximately $10.33 billion in 2023 and is projected to reach around $22.51 billion by 2034, growing at a compound annual growth rate (CAGR) of 7.34% from 2024 to 2034. This growth is driven by the increasing availability of various treatment options for these conditions, such as vascular endothelial growth factor (VEGF) therapy, corticosteroids, nonsteroidal anti-inflammatory drugs (NSAIDs), and surgical interventions.
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Market Trends
- Research Advancements: In November 2024, a neonatologist at the University of Oklahoma received a $2.3 million, five-year grant from the National Institutes of Health to research retinopathy of prematurity, an eye disease that affects premature babies and can lead to long-term vision problems, including blindness. This research is expected to play a key role in driving the growth of the macular edema and macular degeneration market.
- Gene Therapy Innovation: Gene therapy for neovascular age-related macular degeneration (nAMD), such as intravitreal anti-VEGF agents, is revolutionizing treatment options. These therapies offer the potential for long-lasting effects, with recent FDA and EMA approvals for gene therapies targeting RPE65-associated retinal dystrophy paving the way for more advanced retinal gene therapy treatments. This is expected to accelerate the development of the macular edema and macular degeneration market.
- Public Awareness Campaigns: The American Academy of Ophthalmology’s EyeSmart public education program continues to promote eye health awareness. By providing essential information about eye diseases, pain, and injuries, the program encourages early diagnosis and treatment, which, in turn, contributes to the growth of the macular edema and macular degeneration markets.
- Assistive Technology: In October 2023, the OrCam MyEye, a wearable device that helps blind individuals with daily tasks using artificial intelligence (AI) and computer vision, was introduced. The device attaches to regular glasses and offers increased independence to users, demonstrating how assistive technology is making a positive impact on those affected by visual impairments, further supporting market growth.
AI Integration
- Deep Learning for Diagnosis and Treatment: AI is becoming increasingly important in managing macular edema and macular degeneration. Deep learning (DL) models are now capable of diagnosing age-related macular degeneration (AMD), predicting short-term hospitalization risks, and forecasting the need for injections in the following two years. These AI models can also adjust anti-VEGF treatment plans with greater accuracy than human specialists, enhancing patient care.
- Predictive Tools for Treatment: Machine learning (ML) models are helping to predict how patients will respond to treatments, which can significantly improve patient compliance. These predictive tools are reducing the uncertainty around treatment outcomes, making it easier for doctors to customize care and for patients to stay on track with their treatment plans.
- Cost Reduction through AI: The integration of AI-driven tools is improving the management of diabetic macular edema (DME) and other retinal diseases. By providing more accurate treatment plans and increasing the efficiency of disease management, these AI tools are helping reduce costs for retinal doctors and patients alike. This cost-saving potential is a major driver of growth in the macular edema and macular degeneration market, making treatments more accessible and affordable for a larger patient population.
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