Brazil Age-Related Macular Degeneration Therapeutics Market Analysis

Brazil Age-Related Macular Degeneration Therapeutics Market Analysis: Executive Summary

The Brazil Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $270 Mn in 2022 and is projected to reach US $575 Mn in 2030, exhibiting a CAGR of 9.9 % during the forecast period.

Age-Related Macular Degeneration (AMD) is a gradual eye condition primarily affecting older individuals, potentially resulting in significant vision impairment. It impacts the macula, responsible for central vision, making tasks like reading challenging. AMD manifests in two main types, which are dry AMD and wet AMD. Symptoms include distorted vision, difficulty seeing clearly, and a gradual decline in eyesight. Dry AMD is more common, but it progresses more slowly. Conversely, wet AMD, though less prevalent, is more severe and is characterized by abnormal blood vessel growth beneath the macula. Treatment options encompass anti-VEGF therapy, including medications like Lucentis, Vabysmo, Avastin (manufactured by Genentech), and Eylea (by Regeneron Pharmaceuticals), along with laser therapy and nutritional supplements like zinc and copper, which are more preventive in nature.

It is estimated that the prevalence of AMD is around 11.5% among individuals aged 50 and older, approximately 15% in those aged 60, and about 31% in the demographic aged 80 and above in Brazil. Thus, the prevalence is directly proportional to age. The market is therefore driven by major factors like the increase in the aging population and subsequent increase in prevalence, technological advancements in developing new therapies, and the evolving healthcare landscape of the country propelling the therapeutics industry. However, disparities in the healthcare system and the high expense of therapies like gene therapy and laser surgery, which are adopted in response to demand, limit the market's potential.

The market leader in Brazil is Roche, with Lucentis earning a market share of around 40%, closely followed by Novartis for both Lucentis and a low-cost alternative, Avastin, with a share of about 25% in the market.

Market Dynamics

Market Growth Drivers

Rising prevalence of AMD: Brazil possesses a substantial population aged 65 and above, the primary demographic vulnerable to AMD, and projections indicate continuous growth in the years ahead. This increasing elderly population results in a larger potential patient pool, driving demand in the market. The age-standardized prevalence of AMD is estimated to be around 11.5% in people greater than 50 years, around 15% in people aged 60 years, and approximately 31% in the age group above 80 years.

Evolving healthcare landscape: Initiatives by the government, such as the National Eye Health Program and the broadening of health insurance coverage for specific AMD treatments, play a role in enhancing the accessibility and affordability of therapies, and fostering growth in the market. The growing collaborations between pharmaceutical firms, research institutions, and healthcare providers through increased public-private partnerships provide a collaborative approach to advancing AMD care and expanding the market's reach.

Technological advancements: Innovation in the field of AMD therapies is on the rise, with notable advancements in stem cell and gene therapy as well as the emergence of anti-VEGF medications offering promising new avenues for treatment. Additionally, investment in clinical trials and local research and development fosters the market for growth.

Market Restraints

Health system disparities: There exist inequities in the level and type of care available between different regions of Brazil. Major cities are focal points for specialized ophthalmologists and treatment facilities, creating a disparity in healthcare services with rural areas being underserved. This geographical divide results in delayed diagnosis, restricted treatment choices, and poorer outcomes for patients in rural areas.

High cost of treatments: The conventional treatment for wet AMD, which involves anti-VEGF injections, is expensive. The expense for a vial of Lucentis solution is approximately $1200 for patients who pay in cash. This imposes a considerable financial strain on both the healthcare system and individual patients. Additionally, SUS insurance does not cover these costs, establishing a financial and accessibility obstacle for patients.

Healthcare Policies and Regulatory Landscape

Brazil's healthcare regulatory framework is overseen by various entities. The National Supplementary Health Agency (ANS) regulates the private healthcare system, establishing primary rules for healthcare plan operations and monitoring their functions. The Ministry of Health regulates the public healthcare system, playing a significant role in overseeing and promoting the expansion of healthcare services at the municipal level. Additionally, the medical device market in Brazil is governed by the Agência Nacional de Vigilância Sanitária (ANVISA), which has made significant strides in aligning medical device registration requirements with international standards.

To obtain healthcare licensure in Brazil, navigating the regulations set by ANVISA for medical devices and the ANS for healthcare plans is essential. For medical devices, companies must comply with requirements outlined in relevant resolutions. Regarding healthcare plans, entities must adhere to rules established by the ANS for the ongoing provision of healthcare services. Additionally, foreign companies need to have a local importer or distributor and ensure that their products meet the quality and regulatory standards in Brazil.

Competitive Landscape

Key Players

• F. Hoffman-La-Roche Ltd
• Regeneron Pharmaceuticals
• Novartis AG
• Apellis Pharmaceuticals
• Neurotech Pharmaceuticals
• Bayer
• Pfizer Inc
• Genetech
• Kanghong Pharma
• Bausch Health Companies, Inc