Egypt Age-Related Macular Degeneration Therapeutics Market Analysis

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

The Egypt Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $30 Mn in 2022 and is projected to reach US $67 Mn in 2030, exhibiting a CAGR of 10.40% during the forecast period.

Age-related macular degeneration (AMD) is a degenerative eye disease that primarily affects older people and can result in considerable vision loss. It has an effect on the macula, which is in control of central vision. Diabetes, smoking, lifestyle changes, and other variables are non-modifiable risk factors for AMD. AMD is classified into two types: dry AMD and wet AMD. Distorted vision, difficulties seeing clearly, and a gradual loss in eyesight are common symptoms. Dry AMD is more frequent but progresses more slowly, whereas wet AMD is less common but more severe, with aberrant blood vessel formation beneath the macula. Anti-VEGF therapy, such as Lucentis, Vabysmo, Avastin from Genentech, and Eylea from Regeneron Pharmaceuticals, are some of the approved treatment options. Other treatments include laser therapy and the use of nutritional supplements like zinc and copper as preventive measures.

The overall prevalence of AMD in Egypt is estimated to be around 6.5% in the age group of 50–80 years. The estimated prevalence of early and late AMD is about 5.3% and 2.4%, respectively. The prevalence is considered to be directly correlated with age. The market is influenced by driving factors such as an increasing older population and the resulting increase in prevalence, the emergence of new products in the pipeline, and increased government spending in the therapeutics industry. However, high treatment costs, limited healthcare infrastructure, and a competitive market are a few factors that limit the market's potential.

Market Dynamics

Market Growth Drivers

Surge in the prevalence of AMD: It is estimated that the overall prevalence of AMD is about 6.5% in Egypt. The prevalence of early AMD is approximately 5.3%, whereas that of late AMD is about 2.4%. The aging population in the country is consistently growing, leading to a larger group of patients requiring regular treatments and facilitating market expansion. Moreover, the escalating prevalence of diabetes and obesity, recognized as notable risk factors for AMD, adds to these estimates. The rising incidence of these health conditions in Egypt heightens their potential influence on the market.

Strong product pipeline: The introduction of novel products for AMD treatment is expected to significantly propel the market forward. Pharmaceutical firms are dedicating resources to research and development to introduce enhanced and innovative drugs, foreseeing substantial market growth. The robust product pipeline for AMD treatments, encompassing emerging therapeutic approaches, gene therapy, and sustained-release drug delivery systems, is anticipated to be a driving force for market growth in Egypt.

Increased government spending: There is a steep increase in investments by the Egyptian government and external agencies towards managing chronic conditions, including AMD. Government funding is used to increase health insurance coverage to include AMD treatments, such as anti-VEGF medications, which are inaccessible to many Egyptians due to their expensive cost.

Market Restraints

High costs of treatment: Anti-VEGF therapies such as Eylea and Beovu come at a considerable expense, frequently reaching tens of thousands of Egyptian pounds per injection, which poses a significant financial strain for the majority. This leaves many individuals dependent on restricted health insurance coverage or unable to afford the treatment altogether.

Limited healthcare infrastructure: The presence and accessibility of advanced healthcare facilities and specialized treatment centres for AMD in Egypt is restricted, potentially influencing the acceptance of new therapeutic approaches. The availability of advanced diagnostic instruments and specialized professionals such as ophthalmologists is constrained in specific areas, affecting the possibilities for diagnosis and treatment and restricting market growth.

Competitive market: The existence of a competitive market with established players and current treatment alternatives presents obstacles for the introduction and acceptance of new therapies for AMD.

Healthcare Policies and Regulatory Landscape

Egypt's healthcare policies and regulatory framework are overseen by the Ministry of Health and Population (MoHP) and primarily governed through the Egyptian Medical Facilities Law, the Egyptian Drug Authority (EDA), and the Egyptian Diagnostics Clinical Laboratories Law. The healthcare system in Egypt traditionally integrates both the public and private sectors, with ongoing initiatives focused on improving medical facilities, enhancing service provision, and extending healthcare access to underserved regions. The country has implemented health policies and collaborated with the private sector to diversify its service offerings.

Significant transformations are underway in the Egyptian Health System, prompting stakeholders to gain a deeper understanding of the current framework and anticipate future developments. The recent approval of the Social Health Insurance Law serves as a driving force aiming to reduce out-of-pocket expenses and broaden coverage. Although Egypt's healthcare market heavily relies on out-of-pocket payments, there is an anticipated shift towards increased public expenditure.

Egypt's healthcare system faces numerous challenges in improving and safeguarding the health and well-being of its citizens. The government has placed emphasis on expanding social health insurance coverage and delivering an economical and efficient set of essential health services aligned with the population's most critical health needs.

Competitive Landscape

Key Players

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