South Africa Age-Related Macular Degeneration Therapeutics Market Analysis

South Africa Age-Related Macular Degeneration Therapeutics Market Analysis: Executive Summary

The South Africa Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $70 Mn in 2022 and is projected to reach US $152 Mn in 2030, exhibiting a CAGR of 10.13% during the forecast period.

Age-related macular degeneration (AMD) is a gradual eye condition that predominantly affects older individuals, potentially resulting in significant vision loss. It impacts the macula, which is responsible for central vision, making activities like reading challenging. Non-modifiable factors include diabetes, smoking, lifestyle changes, and other factors. AMD typically manifests in two main forms, namely dry AMD and wet AMD. Common 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, though less prevalent, is more severe and characterized by abnormal blood vessel growth beneath the macula. Approved treatment options for AMD include 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 zeatin, vitamin C, and copper as preventive measures.

The overall prevalence of AMD in South Africa is estimated to be around 1% in the age group of 50–80 years. The aging population is expected to double in the forecast period. The market is primarily influenced by key factors such as the growth of the aging population and the consequent rise in prevalence, expanding healthcare infrastructure, and increased government initiatives in the therapeutics industry. However, high treatment costs, limited public awareness, and system disparities 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 1% in South Africa. It is reported to be the most common cause of blindness in people over the age of 50. South Africa's aging demographic, projected to see a substantial increase in individuals over 65 in the forecasted period, directly correlates with a rising prevalence of AMD. This shift is indicative of a growing market for AMD treatments.

Expanding healthcare infrastructure: Allocations in healthcare infrastructure, comprising advancements such as OCT for the timely identification of AMD, contribute to improved accessibility to advanced diagnostic instruments and treatment alternatives, such as anti-VEGF injections. This further enhances the market's potential.

Government initiatives: Programs like South Africa's National Health Insurance (NHI) focus on extending health insurance coverage, potentially including certain AMD treatments, even though constraints on costly therapies may persist. This initiative holds the potential to enhance patient access and contribute to market expansion.

Market Restraints

High costs of treatment: Even with prospective coverage under the National Health Insurance (NHI), the high costs of existing anti-VEGF therapies like Eylea and Beovu remain a significant barrier for many South Africans. This constraint limits the market's scope and the attainment of equitable access.

Limited public awareness: Despite advancements, there is a gap in public knowledge and awareness regarding AMD and its early detection. Enhancing awareness could encourage individuals to seek timely diagnosis and initiate prompt treatment.

Health system disparities: Inequalities in the availability of ophthalmologists, optometrists, and advanced healthcare facilities among diverse regions and socioeconomic segments pose considerable obstacles to prompt diagnosis and treatment, impeding market potential, particularly in underserved areas. A shortage of trained professionals results in the underprovision of services in rural areas, which limits accessibility and market penetration.

Healthcare Policies and Regulatory Landscape

South Africa's healthcare policies and regulations are managed by the Department of Health (DoH), primarily governed by the Medicines and Related Substances Act and the Pharmacy Act. The South African Health Products Regulatory Authority (SAHPRA) is responsible for overseeing the regulation of medicines, medical devices, and diagnostics within the country.

Compliance with regulations established by SAHPRA is necessary for obtaining a license for healthcare products in South Africa. Companies seeking to register pharmaceuticals and medical devices must obtain marketing authorization and registration from SAHPRA. This process involves the submission of technical and scientific data to validate the product's safety, quality, and efficacy. Additionally, having a local importer or distributor for product liability is required, with potential exemptions for some low-risk products from registration.

Both the public and private healthcare sectors in South Africa 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