Pune, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Geographic Atrophy (GA) Market Size & Growth Analysis:
According to SNS Insider, The Geographic Atrophy Market was valued at USD 23.7 billion in 2023 and is expected to reach USD 50.0 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.6% over the forecast period from 2024 to 2032. The increase in incidence of AMD is expected to be a key growth contributor with technological improvements in diagnostic tools.
Geographic Atrophy (GA) Market Overview
The Geographic Atrophy (GA) market has vast growth potential for expansion, with continual growth in the demand for new age macular degeneration (AMD) treatment solutions. GA, a typical, bilateral and relentlessly progressive retinal degenerative disease, is seen frequently in the elderly population, and incidence rates are increasing worldwide. The market demand is attributed by a rising elderly populace, increased awareness about the disease, and development of new diagnostic equipment such as Optical Coherence Tomography Angiography (OCT-A).
Further, the pipeline for GA therapeutics supply chain is gradually enlarging due to the current ongoing clinical trials and FDA approval of new drugs with target to GA. At present, many market players such as Iveric Bio, Apellis Pharmaceuticals, and Galderma Laboratories are involved in this market with new drug development and advance treatment. According to the report, in terms of volumes, North America held the largest share in the year 2023 and the Asia-Pacific is expected to grow at a higher CAGR during the given time span.
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Key Geographic Atrophy Players:
- Iveric Bio
- Alkeus Pharmaceuticals Inc.
- Apellis Pharmaceuticals Inc.
- Hemera Biosciences LLC
- Genentech Inc.
- F. Hoffmann-La Roche AG
- Stealth BioTherapeutics
- Allegro Ophthalmics LLC
- Gensight Biologics SA
- Gyroscope Therapeutics Limited
- Regenerative Patch Technologies LLC
- NGM Biopharmaceuticals Inc.
- Novartis
- Perceive Biotherapeutics Inc.
- Annexon Inc.
- Aviceda Therapeutics
- Astellas Pharma Inc
Geographic Atrophy Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 23.7 Billion |
| Market Size by 2032 | US$ 50.0 Billion |
| CAGR | CAGR of 8.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Geographic Atrophy Market Key Segmentation:
By Age Group
- Above 60 Years
- Above 75 Years
By Diagnosis
- Fundus Autofluorescence (FAF)
- Optical Coherence Tomography Angiography (OCT-A)
- Multifocal Electroretinography (mfERG)
By Therapeutic Agents
- Late-stage (Phase III)
- Phase II
- Phase I
- Pre-clinical stage & Discovery candidates
Segmentation Analysis
By Age Group:
As mentioned earlier, the population primarily using GA is the one which is more than 75 years of age and it comprises 54.7% of the market share by 2023. This demographic is more vulnerable to geographic atrophy because of age factors; thus, the primary patients to be treated for GA are the above 60 years old. GA’s high rate of HIV prevalence among elderly people particularly those aged 90 and above re-affirms this market need. In addition, this segment is expected to have the faster growth rate influenced by the rise in life span and the number of geriatric individuals.
By Diagnosis:
OCT-A segment was the largest and fastest-growing segment from the diagnostic method in 2023, occupying 38.6% market share. The OCT-A technology is immensely popular because of the non-invasive imaging properties and ‘’live’’ visualization of the retina’s microvasculature, which is a vital factor in diagnosing GA and other related retinal issues. In particular, the increasing usage of OCT-A systems such as AngioVue by Optovue, Inc. underpins this segment’s current growth, making it critical to GA diagnosis.
By Therapeutic Agents:
In the case of the clinical trials segments, Phase III clinical trials dominated the market in 2023 held a 34.5% market share, and this sector is expected to record the most significant growth in the next two decades up to 2032. It can be seen that phase III trials are significant when assessing the efficacy of new GA treatments, and more trials are being conducted in this segment. Some players in the segment are Apellis Pharmaceuticals and Galderma Laboratories with promising drug Phase III trials, which have been adding up to the segment’s growth.
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Regional Analysis
Dominating Region: North America
The GA market was dominated by North America in 2023, due to better health care facilities, increasing incidence of AMD in the region, and presence of a large number of players. The United States is the dominant market in North America, chief pharmaceutical firms such as Apellis Pharmaceuticals and Iveric Bio deploy substantial amounts of capital to research. Also, increasing number of clinical research institutions and higher expenditure on healthcare have further have established North America as market leader in GA.
Recent Developments in the Geographic Atrophy (GA) Market
- June 2023 – Apellis Pharmaceuticals announced the FDA approval of SYFOVRE (pegcetacoplan injection), a novel therapy for GA, marking the first approved treatment for this condition.
- April 2023 – Iveric Bio completed a successful Phase III clinical trial of avacincaptad pegol (ACP), a treatment targeting GA secondary to AMD.
Key Takeaways
- The GA market is expected to reach USD 50.0 billion by 2032, growing at a CAGR of 8.6% over the forecast period.
- The segment of individuals aged 75 years and older holds the largest market share and is also the fastest-growing demographic.
- Optical coherence tomography angiography (OCT-A) is the dominant diagnostic method, with growing adoption due to its advanced imaging capabilities.
- North America leads the market in terms of revenue, while the Asia-Pacific region is projected to witness the fastest growth.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Drug Volume: Production and usage volumes of pharmaceuticals
- Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients
6. Competitive Landscape
7. Geographic Atrophy Market Segmentation, by Age Group
8. Geographic Atrophy Market Segmentation, by Diagnosis
9. Geographic Atrophy Market Segmentation, by Therapeutic Agents
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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