Kenya Age-Related Macular Degeneration Therapeutics Market Analysis

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

The Kenya Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $8 Mn in 2022 and is projected to reach US $16 Mn in 2030, exhibiting a CAGR of 10% during the forecast period.

Age-related macular degeneration (AMD) is a progressive eye condition primarily impacting older individuals, potentially leading to significant vision loss. It affects the macula, responsible for central vision, making tasks like reading challenging. Risk factors encompass diabetes, smoking, lifestyle changes, and other elements. AMD presents in two primary forms: dry AMD and wet AMD. Symptoms involve distorted vision, difficulty seeing clearly, and a gradual decline in vision. Dry AMD is more prevalent but advances more slowly. On the other hand, wet AMD, though less common, is more severe and characterized by abnormal blood vessel growth beneath the macula. Treatment options include anti-VEGF therapy with medications such as Lucentis, Vabysmo, Avastin from Genentech, and Eylea from Regeneron Pharmaceuticals. Additionally, treatment may involve laser therapy and the incorporation of nutritional supplements such as Vitamin C and E as preventive measures.

The prevalence of early AMD in Kenya is estimated to be around 11%, and that of late AMD is about 1.2% in the age group 50–80 years. The prevalence is considered to be directly correlated with age. The market is therefore driven by major factors like the increase in the aging population and the subsequent increase in prevalence, as well as supportive government policies and programs in the therapeutics industry. However, high treatment costs, limited coverage, and a disparity in the health system 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 prevalence of early AMD is approximately 11%, whereas late AMD is about 1.2% in Kenya. It is reported that there are approximately 3,50,000 newly diagnosed cases of early AMD above the age of 50 every year in Kenya. The aging population in the country is consistently growing, translating to a 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, further propelling the therapeutics market in Kenya.

Government initiatives: Extending health insurance coverage to a broader population through the National Hospital Insurance Fund (NHIF) has the potential to improve access to AMD services, although constraints for costly treatments may persist. Enhancements in healthcare infrastructure and technology in Kenya are increasing accessibility to advanced diagnostic tools and treatment options for AMD, including anti-VEGF injections.

Market Restraints

High costs of treatment: The average income in Kenya is lower than that of many developed countries. Anti-VEGF therapies such as Eylea and Beovu considerably exceed the average income of Kenyans, costing more than thousands of Kenyan shillings per injection, which poses a significant financial strain for the patients. This leaves many individuals dependent on restricted health insurance coverage or unable to afford the treatment altogether.

Limited coverage: Although the National Health Insurance Fund (NHIF) in Kenya is broadening its coverage, access to costly AMD treatments such as anti-VEGF medications is still limited, frequently being excluded or involving high co-payments. This poses additional barriers for financially vulnerable patients, restricting market growth.

Health system disparities: The equitable distribution of access to advanced diagnostic tools and specialized ophthalmologists for AMD treatment is not uniform throughout Kenya, especially in rural areas, resulting in disparities in access and care. While there have been improvements, there is a considerable lack of public awareness regarding AMD and the importance of early detection to promote timely diagnosis and treatment initiation, which is distorting market growth.

Healthcare Policies and Regulatory Landscape

Kenya's healthcare policy and regulatory framework are intricate, involving multiple governing bodies and procedures for obtaining licenses. The Ministry of Health (MoH) serves as the primary authority responsible for establishing healthcare policies, regulations, and standards. The MoH oversees healthcare establishments, licenses healthcare practitioners, and regulates pharmaceuticals and medical equipment. The Kenya Medical Supplies Authority plays a crucial role in procuring and distributing essential medicines and medical supplies to public health facilities nationwide, ensuring the affordability and accessibility of fundamental healthcare services.

The Pharmacy and Poisons Board (PPB) regulates pharmaceuticals, medical equipment, and cosmetics, ensuring their efficacy and safety. The PPB grants licenses for the production, importation, sale, and distribution of various goods. Companies are required to register their products with the PPB before marketing or use in Kenya, involving a comprehensive process that includes documentation submission, clinical trial data review, and scrutiny by PPB specialists.

Both the public and private healthcare sectors in the country present 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