Geographic Atrophy Treatment Market By Diagnosis (Fundus Autofluorescence (FAF), Optical Coherence Tomography Angiography (OCT-A), and Multifocal Electroretinography (mfERG)), By Clinical trials (Phase III, Phase II, Phase I and Preclinical), By End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others), and Geography

Geographic Atrophy Treatment Market size was valued at USD 32.6 Billion in 2022 and is anticipated to reach USD 68.5 Billion by 2029, growing at a CAGR of 11.2%  from 2023 to 2029. Geographic atrophy (GA) is a chronic progressive degeneration of the macula, as part of late-stage age-related macular degeneration (AMD). The disease is characterized by localized sharply demarcated atrophy of outer retinal tissue, retinal pigment epithelium, and choriocapillaris. the rapidly growing geriatric population and high demand for effective treatment options influence the market growth. According to the American Academy of Ophthalmology, over 8 million people are affected worldwide with GA, approximately 20% of all individuals with AMD. The incidence of GA is expected to rise as the age burden of developed countries is increasing. The several risk factors associated with geographic atrophy, it is shown in the geriatric population the high rate of prevalence, and emerging novel treatment options drive the market growth. Advances in healthcare technology and focus on research and development activities accelerate the market growth, and the numerous incidences result in high demand for novel drugs creating lucrative opportunities in the market. Furthermore, the lack of focus on visual restoration and the failure of investigational drugs limits the market growth. In addition, limited knowledge about geographic atrophy hinders market growth. it is predicted that in the following years, increasing health awareness and growing healthcare infrastructure boost the market growth. By regional analysis, North America held the major market share in 2022 and is expected to dominate the global Geographic Atrophy Treatment market due to the rise in the incidence of retinal diseases and surging spending on healthcare development contribute to the market growth in the forecast years.