Global Juvenile Macular Degeneration Treatment Industry Analysis Outlook, Trend, Growth and Share Estimation Analysis
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 eye’s macula; however, it is different from age-related macular degeneration (AMD). AMD occurs as part of the body’s 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.
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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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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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
Key Players of Juvenile Macular Degeneration Treatment Market Report:
Manufacturers in the global juvenile macular degeneration treatment market are increasingly investing in research & development of new and innovative drugs such as Alkeus Pharma's 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:
- Astellas Pharma Inc
- Alkeus Pharmaceuticals, Inc.
- Biophytis SA
- ProQR Therapeutics NV
- Copernicus Therapeutics Inc
- Generation Bio Corp
- Grupo Ferrer Internacional SA
- Katairo GmbH
- WAVE Life Sciences Ltd
- Lin Bioscience, Inc.
- Acucela Inc
- Nightstar Therapeutics PLC
- Ophthotech Corp
- Spark Therapeutics Inc
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