Malaysia Age-Related Macular Degeneration Therapeutics Market Analysis

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

The Malaysia Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $17 Mn in 2022 and is projected to reach US $35 Mn in 2030, exhibiting a CAGR of 9.10% during the forecast period.

Age-related macular degeneration (AMD) is a gradual eye condition that predominantly affects older individuals, potentially leading to significant vision loss. It impacts the macula, responsible for central vision, making tasks like reading challenging. Risk factors include diabetes, smoking, lifestyle changes, and other factors. AMD manifests in two primary 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 encompass anti-VEGF therapy with medications like Lucentis, Vabysmo, Avastin from Genentech, and Eylea from Regeneron Pharmaceuticals. Additionally, treatment may involve laser therapy and the use of nutritional supplements such as zinc and copper.

It is estimated that the prevalence of early-stage AMD is around 3.5% in the age group between 40 and 80 years old in Malaysia. The market is therefore driven by major factors like an increase in the aging population and the subsequent increase in prevalence, increased awareness, and supportive initiatives in the therapeutics industry. However, limited treatment options 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

Surge in the prevalence of AMD: The age-standardised prevalence of early AMD in Malaysia is expected to be around 3.5% in the age group between 40 and 80 years, and that of late AMD is around 0.35%. This results in a higher prevalence of AMD, which is the primary contributor to vision impairment in the elderly.

Improved awareness and healthcare system: Increased awareness among the public and healthcare professionals regarding AMD and its early detection is encouraging more individuals to pursue diagnosis and treatment. Healthcare infrastructure and technological investments in Malaysia are enhancing accessibility to advanced diagnostics and treatments, including anti-VEGF drugs.

Government initiatives: The JKN program initiated by the Malaysian government offers basic healthcare coverage to a majority of citizens, potentially expanding access to essential AMD services like eye checkups. The increased government expenditure on healthcare contributes to a more conducive environment for the adoption of innovative and costly AMD treatments like gene therapy.

Market Restraints

High cost of treatments: While effective, the cost of anti-VEGF therapies for wet AMD is remarkably high, surpassing RM10,000 per injection. This poses considerable affordability challenges for the majority of Malaysians, even with insurance coverage. The frequent intravitreal injections necessary for anti-VEGF therapies may burden patients, affecting their adherence and potentially resulting in adverse effects that restrict market growth.

Limited treatment options: Compared to other nations, there is presently no authorized medication for dry AMD in Malaysia, which is the more prevalent type, resulting in considerable unmet demand and limiting the growth of the market.

Market accessibility: The Social Security Organization (SOCSO) in Malaysia includes coverage for certain chronic illnesses, but the extent of AMD treatment coverage, while improving, is not fully comprehensive. Consequently, many patients depend on private insurance, which often comes with restrictions on costly therapeutic interventions.

Healthcare Policies and Regulatory Landscape

Malaysia's healthcare policy and regulatory structure involve several crucial authorities and agencies. The primary entity responsible for healthcare regulations and licensing is the Ministry of Health (MOH). The MOH plays a central role in developing national health policies, coordinating medical and healthcare reform, and overseeing the administration of healthcare services throughout Malaysia.

Obtaining a license for healthcare products in Malaysia requires compliance with regulations established by the MOH and local governments. These entities supervise and monitor healthcare services, including the approval and oversight of medical and healthcare products. To secure registration and marketing authorization for pharmaceuticals and medical devices, companies must obtain approval from the MOH. This process entails submitting technical and scientific data to validate the product's safety, quality, and effectiveness.

Malaysia's healthcare policy and regulatory framework involve numerous authorities and agencies, with the MOH playing a pivotal role in regulating healthcare products. 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