Indonesia Age-Related Macular Degeneration Therapeutics Market Analysis

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

The Indonesia Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $65 Mn in 2022 and is projected to reach US $128 Mn in 2030, exhibiting a CAGR of 8.90% during the forecast period.

Age-related macular degeneration (AMD) is a gradual eye condition that mainly affects older individuals, potentially leading to significant vision loss. It primarily affects the macula, responsible for central vision, making tasks like reading challenging. Risk factors include diabetes, smoking, lifestyle changes, and others. AMD manifests in two main forms: dry AMD and wet AMD. Symptoms include distorted vision, difficulty seeing clearly, and a gradual decline in vision. Dry AMD is more common, but it progresses more slowly. In contrast, wet AMD, although less prevalent, is more severe and characterized by abnormal blood vessel growth beneath the macula. Treatment options include anti-VEGF therapy with medications like Lucentis, Vabysmo, Avastin from Genentech, and Eylea from Regeneron Pharmaceuticals, as well as laser therapy and nutritional supplements like zinc and copper.

It is estimated that the population aged 60 years and older will double by the year 2050 in Indonesia, resulting in a demographic shift. As a result, the market is propelled by driving factors like the expansion of the elderly population and the subsequent increase in prevalence, evolving healthcare infrastructure, increased government initiatives, and consumer knowledge of the therapeutics industry. However, limited resources and market accessibility are a few factors that limit the market's potential.

The market is currently being dominated by Regeneron Pharmaceuticals with Eylea, which is an approved anti-VEGF drug for wet AMD. It is closely followed by Novartis, which captures a significant market share with Beovu, which is another drug in the same category.

Market Dynamics

Market Growth Drivers

Demographic shift: Indonesia is experiencing a demographic shift, marked by a significant increase in the aging population. Projections suggest that the number of people aged 60 and above will double by 2050. Consequently, there is a direct correlation to an increased incidence of AMD, which stands as the primary contributor to vision impairment among older individuals. Adding to this is the escalating prevalence of diabetes and obesity, both recognized as significant risk factors for AMD. This upward trend in these health conditions in Indonesia amplifies the potential impact on the market.

Enhanced healthcare infrastructure: Awareness among the public and healthcare professionals regarding AMD and its early identification is on the rise, leading to a greater number of individuals actively pursuing diagnosis and treatment. Additionally, advancements in healthcare infrastructure and technology in Indonesia are enhancing accessibility to advanced diagnostic and treatment alternatives for AMD, such as anti-VEGF injections.

Government initiatives: The JKN program initiated by the Indonesian government offers fundamental healthcare coverage to a majority of the population, potentially expanding the reach of crucial AMD services such as eye examinations. The increasing investment in AMD therapeutics is evolving, resulting in more drugs in pipeline development entering the Indonesian market.

Market Restraints

Limited resources: The rising need for AMD treatments because of the aging demographic potentially strains healthcare resources, resulting in limited access. 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.

Market accessibility: Even though JKN offers basic healthcare access, the support for costly AMD treatments such as anti-VEGF injections is frequently inadequate or absent. This limitation hampers accessibility for numerous patients who depend on the program, resulting in unequal access for patients based on their insurance status.

Treatment limitations: At present, there are no authorized drugs for dry AMD, which is the more prevalent type, resulting in a substantial gap in demand. This limitation significantly hinders the growth of the market. While anti-VEGF therapies prove effective for wet AMD, they come with a high price, frequently costing millions of Indonesian Rupiah per injection. This poses considerable affordability challenges for both patients and the system.

Healthcare Policies and Regulatory Landscape

The healthcare policy and regulatory structure in Indonesia encompass several essential authorities and agencies. The primary entities overseeing healthcare regulations and licensing are the Ministry of Health (MOH), the National Agency for Food and Drug Control (BPOM), and others. The MOH takes charge of developing national health policies, coordinating medical and healthcare reform, and supervising healthcare services nationwide.

Obtaining a license for healthcare products in Indonesia necessitates compliance with the regulations set forth by these authorities. To secure registration and marketing authorization for pharmaceuticals and medical devices, companies must receive approval from both the MOH and BPOM. This process involves the submission of technical and scientific data to validate the safety, quality, and effectiveness of the product.

Indonesia's healthcare policy and regulatory framework involve various authorities and agencies, with the MOH playing a crucial role in the regulation of healthcare products. Both the public and private healthcare sectors in the country provide diverse opportunities for companies operating within the healthcare industry.

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