New York, US, April 26, 2022 (GLOBE NEWSWIRE) -- Geographic Atrophy (GA) Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Geographic Atrophy Market information by Age Group, Diagnosis, Therapeutic Agents Clinical Phase End-User, and Region - Forecast till 2027”, the market is expanding at a 7.5% CAGR by 2027.
Market Scope:
Geographic atrophy (GA) is an advanced stage of age-related macular degeneration (AMD) that results in continuous progressive degeneration of macula. This condition is marked by widespread atrophy of the retinal pigment epithelium, choriocapillaris, and outer retinal tissue. It generally starts wtihin the perifoveal region and spreads to the fovea with time, causing permanent vision loss and central scotomas.
Market Competitive Analysis:
The prominent firms in the geographic atrophy market include:
- Apellis Pharmaceuticals, Inc. (US)
- Iveric Bio (US)
- Alkeus Pharmaceuticals, Inc. (US)
- Hemera Biosciences LLC (US)
- Allegro Ophthalmics, LLC (US)
- Stealth BioTherapeutics (Cayman Islands)
- Gyroscope Therapeutics Limited (UK)
- Regenerative Patch Technologies, LLC (US)
- Hoffmann-La Roche AG (Switzerland)
- Genentech, Inc. (US)
- Gensight Biologics SA (France)
- NGM Biopharmaceuticals Inc. (US)
- AstraZeneca plc (UK)
- Lineage Cell Therapeutics, Inc. (US)
- Allergan Plc (Ireland)
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Market USP Covered
Market Drivers
Geographic atrophy (GA) is a condition that largely affects the elderlies. Therefore, the rapidly expanding geriatric population, and their rising vulnerability to the condition should raise the demand for effective treatment. Latest reports confirm that nearly 150 million patients are suffering from GA worldwide as of now. In the United States, the significant burden of GA, which is almost 11 million, is fostering the urgent need for advanced medicines and drugs. This should eventually bolster the growth rate of the worldwide market in the ensuing years.
Majority of the eminent firms in the market put a lot of effort to develop high quality and performance solutions, with the aim to strengthen their product pipeline. The emergence of new diagnostic techniques as well as novel treatment processes should further uplift the market position in the next couple of years.
Market Restraints
The strict regulations implemented by the government authorities worldwide could challenge the players of the geographic atrophy market, since sudden changes in the guideline, as well as delays in drug approval processes, resulting in high financial loss.
Over the years, numerous drugs that help in the treatment of geographic atrophy treatment have been unable to be as accurate as expected by the FDA guidelines.
Browse In-depth Market Research Report (120 Pages) on Geographic Atrophy (GA): https://www.marketresearchfuture.com/reports/geographic-atrophy-ga-market-10781
COVID-19 Analysis
The year 2020 took an unexpected turn with the COVID-19 outbreak and the massive economic loss faced by several industries worldwide, which includes the healthcare industry. The COVID-19 pandemic exacerbated the circumstances by hitting the healthcare industry (among various other industries) while disrupting the supply chains. The pandemic has been detrimental to the geographic atrophy market, with the market vendors shutting down their production facilities or having to keep their facilities working much below the actual production capacities to prevent the spread of the novel coronavirus.
On the brighter side, with the lifting of the lockdown as well as trade restrictions, the geographic atrophy market can expect to gain major traction in the ensuing years.
Segment Overview
Age group, diagnosis, and Therapeutic Agents Clinical Phase are the top segments studied in the MRFR report.
Above 60 Years and Above 75 Years are the major segments depending on age group. Adults above the age of 60 years are at a much higher risk of getting numerous eye disorders including geographic atrophy, cataracts, age-related macular degeneration (AMD), dry eye, glaucoma, diabetic retinopathy, and more which could result in vision loss. This way, the segment will be capturing a bigger share in the worldwide market in the next few years.
Diagnosis-wise, the key segments can be Optical Coherence Tomography Angiography (OCT-A), Fundus Autofluorescence (FAF), and Multifocal Electroretinography (mfERG). Optical coherence tomography angiography or OCT-A is now a non-invasive technology that helps visualize the choroid's and retina's microvasculature. It helps in diagnosing and assessing various retinal conditions including diabetic retinopathy, vascular occlusions, geographic atrophy, wet age-related macular degeneration, dry age-related macular degeneration, and more.
Therapeutic Agents Clinical Phase-based segments are Phase II, Late-stage (Phase III), Pre-clinical stage & Discovery candidates and Phase I. Phase III clinical trials help establish and review the drug’s safety, use, and effectiveness for the indication with respect to preliminary evidence obtained in prior trials. Phase III clinical trials help understand if the new drug combination or medicine is equal or better than the current standard of care.
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Regional Analysis
North America has the biggest market for geographic atrophy, on account of the surging spending on the healthcare sector and the presence of highly reputed contenders in the region that include Alkeus Pharmaceuticals Inc. (US), Apellis Pharmaceuticals, Inc. (US), Iveric Bio (US), and others. On top of this, the escalating number of cases of geographic atrophy in the region paired with the rising number of government initiatives pertaining to geographic atrophy in the region can further propel the market position.
The European market for geographic atrophy has been expanding at a stunning pace, owing to the burgeoning older population, heightened demand for technically advanced treatment, and the rise in R&D investment in the biopharmaceutical industry. The market expansion rate in Europe is quite significant, on account of the soaring penetration of the top contenders in developed countries like France, Germany, and the UK. Constant product innovation via high-level and vigorous research & development activities in these countries has given rise to upgradation in the treatment of GA.
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Asia Pacific can anticipate growth at the fastest pace in the coming years, given the fast-paced improving healthcare infrastructure, and the strong establishment of a high number of research organizations. Surging prominence of AMD disorders, especially among the older population helps facilitate market growth.
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