Age-Related Macular Degeneration Market to Hit Sales of US$ 18.40 Billion By 2031
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/age-related-macular-degeneration-market
Macular degeneration is a disorder of the eyes that could get worse over time. It is the main cause of severe, permanent vision loss in persons over age 60. The global age-related macular degeneration market is anticipated to experience strong growth over the forecast period due to factors such as rising prevalence and incidence of retinal disorders, growing geriatric population, high annual cost of therapy (ACOT) for pipeline drugs, improved health care infrastructure, introduction of novel therapies, and surge in programs and initiatives to raise awareness.
The aging global population's growth with the rise in AMD prevalence drives the market growth. The World Health Organization estimates that as of 2023, AMD affects about 200 million individuals worldwide, with an expected increase to 288 million by 2040. The need for effective AMD treatments is growing, as evidenced by this high trend. For instance, age-related macular degeneration is the primary cause of vision impairment and blindness in Europe, according to an article published in the British Journal of Ophthalmology in August 2020. Age-related macular degeneration (AMD) affects around 67 million people in Europe, and as the population ages, this figure is likely to rise by 15% by 2050. According to statistics, market expansion is strongly correlated with the rising number of people suffering from retinal problems.
A solid product pipeline and the introduction of innovative treatments for age-related macular degeneration (AMD) are projected to be the main market drivers. Only a small number of medications, mostly anti-VEGFs, are now authorized for the treatment of age-related macular degeneration. Anti-VEGF medications necessitate frequent and uncomfortable intraocular injections, which adds to the strain and causes non-adherence to therapy. Companies are working on longer-acting anti-VEGFs and vitreous implants that enable sustained medication delivery to circumvent this obstacle. The release of long-acting anti-VEGF drugs like Beovu and Vabysmo will fuel market expansion.
Eylea Product Type Capture More Than Half of the Revenue Share for Age-Related Macular Degeneration Market
Regeneron Pharmaceuticals' medicine Eylea, which generates more than 51.73% of the market's revenue, has become a key player in the market. This denotes a commanding market share and establishes Eylea as a top AMD therapy option.
Clinical trials that showed the drug's effectiveness in treating both wet AMD and diabetic macular edema have increased its use among healthcare providers. Additionally, the drug's convenient dosing schedule, which calls for fewer injections than other medications, has improved patient compliance. According to several studies, patients taking Beovu reported four times greater intraocular inflammation than those taking Eylea. Such elements encourage people to choose Eylea over Beovu, a revolutionary medication.
Wet AMD Generates More Than 90% of the Market Revenue Share
The wet AMB segment attains over 90% of revenue in the age-related macular degeneration market, making it the most prevalent disease type globally.
Since age-related macular degeneration is the most frequent cause of significant vision loss in adults over 50, the growing geriatric population worldwide is driving up demand for wet macular degeneration products. For instance, the percentage of people 65 and older in the world population will increase from 10% in 2022 to 16% in 2050, according to the World Population Prospects 2022. Globally, the number of people 65 and older is likely to surpass that of people under the age of 5 and be roughly equal to that of people under the age of 12 by the year 2050. The aforementioned figures illustrate the projected significant demand for wet macular degeneration therapy products worldwide.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/age-related-macular-degeneration-market
North America to Exhibit the Highest Growth in the Global Market
North America held a significant position in the global age-related macular degeneration treatment market share and is likely to exhibit the highest growth rate during the forecast period. In the United States, prescription AMD medications are widely used, and more novel treatments are being approved there on a regular basis. The growing burden of the senior population, the existence of major market players, and rising R&D activity are some of the factors propelling market expansion in the North American region.
Wet age-related macular degeneration is one of the main causes of vision loss in adults over 65, according to data from the Canadian Ophthalmological Society that was updated in February 2021. By 2032, macular degeneration may affect at least one in four Canadians, according to the same source.
Furthermore, it is projected that the market in the region will develop faster than average due to advantageous government initiatives, growing research collaborations, the presence of major market competitors, and recent product launches. For instance, Roche was granted permission by the US Food and Drug Administration in October 2021 to market Susvimo (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant for wet age-related macular degeneration (nAMD) in patients who had previously responded to at least two anti-vascular endothelial growth factors (VEGF) injections.
Regeneron, Roche, and Novartis are the Top 3 Leading Players in the Age-Related Macular Degeneration Market
Numerous large-scale players are present in the fragmented global market for macular degeneration treatments. Major players in the age-related macular degeneration (AMD) market have embraced product approval and product launch as primary developmental methods. According to Astute Analytica, the market is competitive, with pharmaceutical giants like Regeneron, Roche, and Novartis leading the charge.
List of Prominent Players
• Novartis
• Roche/Genentech
• Regeneron Pharmaceuticals
• Bayer
• Allergan
• Pfizer
• Iveric bio
• Apellis Pharmaceuticals
• Graybug Vision
• Kodiak Sciences
• Alimera Sciences
• Santen Pharmaceutical
• Other Prominent Players
Segmentation Outline
The global age-related macular degeneration market segmentation focuses on Product Type, Disease Type, End Users, and Region.
By Product Type
• Eylea
• Lucentis
• Beovu
By Disease Type
• Wet AMD
• Dry AMD
By End Users
• Hospital Pharmacies
• Pharmacies
• Specialty Clinics
• Others
By Region
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
o Rest of Western Europe
• Eastern Europe
Poland
Russia
o Rest of Eastern Europe
• Asia Pacific
o China
o India
o Japan
o South Korea
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
• Middle East & Africa
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
• South America
o Argentina
o Brazil
o Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/age-related-macular-degeneration-market
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