Age-related Macular Degeneration Market Size Report, 2023-2028
According to Renub Research latest report, “Age-Related Macular Degeneration (AMD) Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” Age-Related Macular Degeneration (AMD) Market is estimated to grow at a CAGR of 8.5% by 2028. Age-related Macular Degeneration is a disorder that causes a steady disintegration of cells in the center of the retina (AMD). It is widespread, and it causes a person to lose central vision. It is the major cause of vision loss in adults aged 50 and over. The wearing down of the macula and the development of the disease are classified as dry and moist. Both kinds are hazardous and need medical attention. Furthermore, the growing needs for therapy among the elderly increases the pote ntial market for age-related macular degeneration. Age-related Macular Degeneration Industry was US$ 8.62 Billion in 2022.
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According to the WHO, in 2020, around 196 million people were suffering from age-related macular degeneration globally, including over 10.4 million moderate-to-severe vision impairment cases. The growth of the AMD market is primarily due to the increasing cases of age-related eye diseases, the rising elderly population, and the surge in investments in R&D activities. Moreover, the market grew due to the rise in the prevalence of this condition, the introduction of innovative treatments, a robust product pipeline, and advancements in gene therapies.
An Increase in Pipeline Drugs for Dry AMD shall aid its Market Growth
Dry AMD accounts for 85-90% of all instances of macular degeneration. Vitamin formulations are now the sole therapeutic therapy for dry macular degeneration. Furthermore, numerous novel therapeutic options for its treatment, including Zimura, Luminate, and intravitrealpegcetacoplan, are now being evaluated in the medical community.
The surge in the Dry Age-related Macular Degeneration (AMD) market is due to the growing older population and increasing prevalence of age-related macular degeneration, and the introduction of novel treatment methods for dry AMD combined with the increasing number of clinical trials focused on dry AMD. In addition, other factors, like increasing healthcare expenditure, will likely help the market grow.
Beovu will grow at the Fastest Rate over the Forecast period due to Patent Protection
The patent for EYLEA expires in 2023 in the United States and in 2025 in Europe, depending on the patent category. As a result, this aspect will contribute to the increase in demand for Beovu. Furthermore, factors such as improved drying effectiveness and success in treating severe cases of wet AMD will contribute to the market’s expansioBecause of its enormous market penetration, the Eylea category dominates. The FDA approved the intravitreal injection of aflibercept for Eylea in 2011. It prevents VEGF from functioning in wet AMD. As a result, it is used to treat diabetic macular edoema, wet AMD, and macular edoema.
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Hospitals are the main and Dominating Channel for Distribution
As per the Royal National Institute of Blind People (RNIB), around 26.5 Million people in 2021 were at high risk of developing this condition. Most patients’ treatment is through drugs, such as Eylea, Lucentis, and Beovu, administered intravenously in hospitals under the supervision of competent specialists. Thus, the rising demand for AMD treatment raises the number of hospital visits, fuelling the market of the hospital category.
North America is the Industry leader due to the constant rise in the Geriatric Population
North America has supremacy over the market share and will sustain its dominance in the next few years. Some significant components driving the regional market include the increasing burden of the older population, the upsurge in the prevalence of this disease, the presence of influential market players, and the growing research and development activities in the region. Moreover, advantageous government initiatives, increased research partnerships, recent product launches, and a rise in cases of AMD will boost the regional market’s growth. For instance, according to the American Academy of Ophthalmology, around 15 million North Americans live with AMD.
Prominent companies competing currently in the Age-related Macular Degeneration Market Are F. Hoffman – La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences Inc.
- Type – The Report covers Age-related Macular Degeneration (AMD) Market, by type in 2 viewpoints (Wet AMD, and Dry AMD).
- Product – By Product, the Age-related Macular Degeneration (AMD) Market, breakup in 4 viewpoints (Eylea, Lucentis, Beovu, and Others).
- Distribution Channel – Renub Research report covers by distribution channel in 3 viewpoints (Hospital Pharmacy, Specialty Pharmacy, and Online Pharmacy).
- Region – The Age-related Macular Degeneration (AMD) Market by region breakup in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).
- Key Players- All the major players have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) F. Hoffman – La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences Inc.
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