UAE Age-Related Macular Degeneration Therapeutics Market Analysis

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

The UAE Age-Related Macular Degeneration (AMD) Therapeutics Market is at around US $54 Mn in 2022 and is projected to reach US $115 Mn in 2030, exhibiting a CAGR of 9.9 % during the forecast period.

Age-related macular degeneration (AMD) is a progressive eye condition that predominantly affects the elderly, potentially leading to significant vision impairment. It primarily affects the macula, responsible for central vision, making activities like reading challenging. AMD presents itself in two primary forms: dry AMD and wet AMD. Symptoms include distorted vision, difficulty with clear vision, and a gradual decline in sight. Dry AMD is more common, but it progresses more slowly. On the other hand, wet AMD, which is less prevalent but more severe, is characterized by abnormal blood vessel growth beneath the macula. Treatment options include anti-VEGF therapy with medications like Lucentis, Vabysmo, Avastin (manufactured by Genentech), and Eylea (by Regeneron Pharmaceuticals), as well as laser therapy and nutritional supplements such as zinc and copper.

It is estimated that the prevalence of early AMD is around 12.7% and that of late AMD is approximately 1.7% in the UAE. It is projected that the aging population of UAE will double by the year 2050. Thus, the prevalence is directly proportional to age. The market is therefore driven by major factors like an increase in the aging population and subsequent increase in prevalence, technological advancements in developing new therapies, and the steadily growing economy of the country propelling the therapeutics industry. However, stringent regulatory requirements and the high expense of therapies like gene therapy and laser surgery, which are adopted in response to demand, limit the market's potential.

The market leader in the UAE is Regeneron Pharmaceuticals with Eylea, which is an anti-VEGF treatment for wet AMD. Regeneron is closely followed by its close competitor, Novartis.

Market Dynamics

Market Growth Drivers

Rising aging population: The UAE has a steadily growing elderly population, and it is projected that the percentage of people aged 65 and above will double by 2050. The age-standardized prevalence of early AMD is estimated to be around 12.7%, whereas late AMD is about 1.7%. This increase in the number of older individuals correlates directly with a greater potential patient base at risk of AMD.

Economic growth: The economy of the UAE is rapidly growing, with a per capita GDP spending on healthcare of around US $2000. This, coupled with increasing disposable incomes, means healthcare affordability is improving. Moreover, the extension of insurance coverage for chronic conditions such as AMD is enhancing the accessibility of therapies, thereby fostering market growth.

Technological advancements: The market for AMD therapeutics is experiencing a surge of innovation, marked by significant progress in gene therapy, stem cell research, and the development of anti-VEGF drugs, which present encouraging treatment possibilities. As these breakthroughs make their way into the United Arab Emirates, they are expected to generate considerable interest in the market.

Market Restraints

Limited awareness: Awareness of AMD is progressing in the UAE; however, there remains a notable gap, particularly in underdeveloped areas. This gap results in delayed diagnosis and treatment, thereby impeding the growth of the market. Access to specialized ophthalmologists and treatment facilities may be constrained in specific regions, especially outside major urban centres.

High cost of treatments: The current standard treatment for wet AMD, anti-VEGF injections, is considerably costly. The cost of a vial of Lucentis solution is around 5000 AED for cash-paying patients. This places a significant financial burden on the healthcare system and patients. Moreover, insurance does not pay for these expenses, creating a financial and accessibility barrier for patients

Regulatory challenges: Rigorous regulatory procedures for approving novel treatments may cause the UAE market to digress as compared to other developed ones in terms of availability. New treatment modalities are continually being investigated due to the dynamic nature of AMD research, which requires a flexible and effective regulatory framework for quick market access.

Healthcare Policies and Regulatory Landscape

The healthcare regulatory framework in the UAE is governed by federal laws and regulations designed to ensure compliance with international best practices. Oversight of healthcare professionals and facilities in Dubai falls under the Department of Health Authority (DHA), while local health authorities in the Northern Emirates have similar responsibilities. International medical graduates can pursue a pathway to practice in the UAE by fulfilling specific requirements. The healthcare landscape is undergoing changes, with the UAE exploring the regulation of telemedicine and other digital health services.

Obtaining a healthcare license in the UAE involves determining the appropriate regulator, fulfilling necessary requirements, applying, paying required fees, completing the accreditation process, and securing the license. Staying informed about the latest trends and developments in healthcare licensing in the UAE is crucial to navigating the process smoothly and contributing to the flourishing healthcare sector of the nation.

Competitive Landscape

Key Players

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