PORTLAND, OR, UNITED STATES, September 23, 2024 /EINPresswire.com/ -- The global age-related macular degeneration (AMD) market was valued at $9.4 billion in 2022, with projections to reach $15.4 billion by 2032, growing at a compound annual growth rate (CAGR) of 5% over the forecast period. AMD is a progressive eye condition affecting the central part of the retina, known as the macula, leading to significant vision loss in aging populations. The condition is categorized into two main types: dry AMD and wet AMD.

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Types of AMD and Treatment Approaches
Dry AMD: The most common form, marked by the accumulation of yellow deposits (drusen) in the macula, often progresses slowly. While there's no direct cure, patients can manage it with vitamin supplements and lifestyle modifications.

Wet AMD: Although less common, wet AMD is more severe, caused by the growth of abnormal blood vessels under the retina. It can be treated through anti-vascular endothelial growth factor (anti-VEGF) therapies, such as ranibizumab and aflibercept, which help prevent further damage.

Market Dynamics
The increasing prevalence of AMD, particularly among the growing elderly population, is a major driver of market growth. The World Health Organization (WHO) estimates that by 2030, 1 in 6 people globally will be over 60 years old, boosting the demand for AMD treatments. By 2050, this demographic is projected to rise even further, with 2.1 billion people aged 60 and older.

Key Market Drivers:

Growing Geriatric Population: As people live longer, the demand for AMD drugs and treatment solutions continues to rise.
Advances in Treatment: The introduction of cutting-edge therapies like anti-VEGF injections has spurred growth.
Pharmaceutical Innovation: Several promising drugs are in clinical trials, with over 10 drugs currently in phase III or II development. These include treatments like Zimura and Visomitin, offering potential breakthroughs for both dry and wet AMD.

Challenges and Market Barriers
Despite the projected growth, the AMD market faces several hurdles:

High Treatment Costs: The average treatment cost per patient is over $5,000 annually, limiting access in many regions, especially developing countries.
Insurance Coverage Gaps: Inadequate coverage in certain areas further restricts market expansion.
Market Segmentation
By Drug Type:

Aflibercept and Ranibizumab: Dominated the market in 2022 due to their widespread adoption and effectiveness in wet AMD treatment.
By Disease Type:

Wet AMD: Despite being less common, the wet AMD segment accounted for the largest market share in 2022, due to its severity and the need for ongoing treatment.
By Distribution Channel:

Hospital Pharmacies: Held the highest market share in 2022, driven by the reliance on prescription drugs for AMD treatment.
Regional Insights
North America: Leading the global AMD market, this region benefits from strong healthcare infrastructure, a high number of aging citizens, and leading pharmaceutical companies. Key players like Biogen, Roche, and Regeneron are driving advancements.

Asia-Pacific: Expected to experience the fastest growth during the forecast period, thanks to increasing investments, government initiatives, and growing awareness about AMD. Government programs like India’s National Programme for Control of Blindness and Visual Impairment have also contributed to market expansion in the region.

Competitive Landscape
The AMD market is highly competitive, with major pharmaceutical companies focused on innovative therapies and expanding their product portfolios. Notable players include Regeneron Pharmaceuticals, Novartis AG, Bayer AG, and Apellis Pharmaceuticals. These firms have adopted strategies such as product launches, approvals, and partnerships to stay ahead.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3538

David Correa
Allied Market Research
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