Verteporfin therapy involves the use of photosensitizing drug verteporfin for the treatment of wet age-related macular degeneration via photodynamic therapy. Wet AMD affects the central portion of the retina called macula, which is responsible for sharp, central vision needed for activities like reading. In wet AMD, abnormal blood vessels start growing under the macula which can leak fluid and blood, causing rapid vision loss. Verteporfin therapy helps in light-induced occlusion of these leaky blood vessels via generation of reactive oxygen species.

The global verteporfin market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The rising prevalence of age-related macular degeneration (AMD) is the major driver estimated to boost the growth of global verteporfin market over the forecast period. As per estimates, around 11 million Americans suffer from AMD currently and the number is projected to double by 2050. Also, increasing geriatric population who are more susceptible to AMD will further propel the market growth. Another driver augmenting the market is the approval and launch of newer formulations of verteporfin by manufacturers. For instance, in 2020, ChemPlasma Biotec GmbH received FDA approval for its verteporfin dispersion Visudyne which offers better stability. However, the high cost of verteporfin therapy and availability of alternative treatment options like anti-VEGF drugs can hinder the market growth.

SWOT Analysis

Strength: Verteporfin is an approved photosensitizing drug for the treatment of wet age-related macular degeneration. Its targeted delivery reduces potential phototoxic effects on non-diseased retinal areas. The drug can be activated using a non-thermal laser which precisely targets the blood vessels reducing potential side effects.

Weakness: Verteporfin therapy requires an injection followed by activating light treatment using a special laser machine, making it a more complex treatment regimen compared to drugs administered orally or via eye drops. The laser machines required are also quite expensive. Some rare side effects like vision problems or eye irritation have been reported.

Opportunity: The aging global population and rising life expectancy present an opportunity for growth in age-related eye diseases market. Advancements in laser technologies and targeted delivery mechanisms can help reduce side effects and complexity of verteporfin treatment further improving its adoption rates.

Threats: Competition from newer anti-VEGF drugs which are administered via eye injections offers a more convenient alternative. Biosimilars and cheaper generics once approved can capture significant market share. Regulations around usage of medical lasers also present compliance challenges.

Key Takeaways

The Global Verteporfin Market Demand is expected to witness high growth over the forecast period driven by rising incidence of wet age-related macular degeneration among the aging population globally. The global verteporfin market is estimated to be valued at US$ 140.71 million in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.

The North America region currently dominates the market due to high diagnosis and treatment rates for eye diseases. Europe and Asia Pacific regions also present lucrative growth opportunities owing to increasing healthcare spending and large patient pools. The Asia Pacific region is projected to experience the fastest growth during the forecast period. This can be attributed to the rising geriatric population, growing awareness about eye care, and increasing healthcare expenditures in major countries like China and India.

Key players operating in the verteporfin market are Bausch Health Companies Inc., Cheplapharm Arzneimittel, Novartis AG, Novelion Therapeutics Inc.

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