(MENAFN- GlobeNewsWire - Nasdaq) According to Research by SNS Insider, Dry AMD market Growth is Driven by New Therapies, Geriatric Population Boom, and Advancements in R&D.Pune, Oct. 17, 2024 (GLOBE NEWSWIRE) -- SNS Insider reports that the Dry Age-related Macular Degeneration Market , valued at USD 4.83 billion in 2023, is expected to reach USD 10.57 billion by the end of 2032 while growing at a CAGR of 9.1% between the forecast period from 2024 and 2032.
The market grows mainly due to the exponentially increasing number of elderly populations across the globe and the growing prevalence of dry AMD in both developed and emerging countries. Also, increasing healthcare expenditure, further innovations in long-acting drugs anti-VEGF, and the entry of biosimilars are a few of the factors driving this demand for effective treatments.
Dry Age-Related Macular Degeneration Market Overview
Dry AMD is a growing trend due to increased awareness about eye care and advanced diagnostic and treatment techniques. The demand far outnumbers the supply as healthcare systems shift with the needs of an aging population. With the global population over 65 years likely to double from 727 million in 2020 to 1.5 billion by 2050, the market is slated to expand sustainably. Emerging therapies and innovative delivery methods raise the accessibility of treatment and improve patient outcomes. Rising lifestyle-related risk factors are reflected, while preventive healthcare further fuels this market. Also, new diagnostic technologies, such as optical coherence tomography (OCT), contribute to early diagnosis and timely intervention, important steps in the management of dry AMD.
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Key Dry Age-Related Macular Degeneration Market Players:
Bayer AG Pfizer Inc. Amgen Inc. Biogen Novartis AG F. Hoffmann-La Roche Ltd Samsung Bioepis Bausch Health Companies Inc. Regeneron Pharmaceuticals Inc. Santen Pharmaceuticals Inc. Allergan plc Alimera Sciences Inc. Phio Pharmaceuticals Corp Iveric Bio Belite Bio Inc. Ocumension Therapeutics Co. Ltd Eyestem Research Pvt Ltd Kubota Vision Inc
Dry Age-Related Macular Degeneration Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 4.83 Billion |
| Market Size by 2032 | US$ 10.57 Billion |
| CAGR | CAGR of 9.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment Analysis
By stages:
In 2023, the Intermediate Dry Age-Related Macular Degeneration segment held a share of over 45%. The stage is diagnosed early, and the stage of diagnosis at the time of presenting is crucial as it dictates approach and management. The highest growth rate will be noted in the Late Dry AMD segment at an estimated 8%. This is because more patients are progressing to this more advanced stage of disease now, with the advent of new therapies for late-stage dry AMD.
By Age Group:
The Above 60-year-old age group contributed more than 50% of the market share in 2023 because there is a direct relation between the prevalence of dry AMD and age. The Above 75 Years segment is expected to grow at a CAGR of more than 9%, due to increasing life expectancy and, therefore, the value of patients with more instances of AMD occurring within the age group.
By Diagnosis and Treatment:
The Treatment segment accounted for more than 65% of the overall market share in the year 2023. Growth momentum in this segment is being driven by advanced therapeutic options. The diagnosis segment is going to grow around 7.5%, with growth being driven by advancements in diagnostic technologies that emphasize early diagnosis and treatment interventions.
Dry AMD Market Key Segmentation:
By Stages
Early Age-Related Macular Degeneration Intermediate Age-Related Macular Degeneration Late Age-Related Macular Degeneration
By Age Group
Above 40 Years Above 60 Years Above 75 Years
By Diagnosis And Treatment
By Route Of Administration
By End User
Hospital & Clinics Diagnostic Centers Academic Research Institutes Others
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Regional Analysis
In 2023, North America led the market of Dry AMD due to population aging and high health expenditure. It captured a market share of more than 40%. Companies such as Regeneron Pharmaceuticals Inc. and Bausch Health Companies Inc. have been playing key roles in developing treatments, particularly anti-VEGF therapies, that enhance the quality of life for patients. With persistent R&D and investment in healthcare technologies, North America is likely to be the leader.
The Dry AMD market in Europe is expected to grow the highest CAGR above 9%. The growth will be supported by the increasing elderly population and Government investment in healthcare. The factors above will propel the Dry AMD market in Europe.
Recent Development
October 2023 : Regeneron Pharmaceuticals launched a new anti-VEGF drug for dry AMD.
September 2023: The Bayer AG treatment received FDA approval for intermediate dry AMD.
August 2023: Novartis AG initiated a Phase III study on a new drug for the treatment of late-stage dry AMD.
July 2023: Amgen Inc. launched a biosimilar version of its existing dry AMD treatment, thereby expanding and making the drug more accessible to the masses.
June 2023: Bausch Health Companies Inc. launched new diagnostic tools that early detect dry AMD, an enabling factor of effective patient management.
May 2023: Biogen announced encouraging late-stage clinical trial results by being the first-ever gene therapy to have long-term preservation of vision in patients suffering from dry AMD, thus paving the way for new therapeutic interventions.
The Dry Age-Related Macular Degeneration Market is going to increase substantially; backed by firm demographic trends, advancement of healthcare, and the active pipeline of therapies that will tackle this debilitating disease.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Dry AMD Market Segmentation, by Stages
8. Dry AMD Market Segmentation, by Age Group
9. Dry AMD Market Segmentation, by Diagnosis and Treatment
10. Dry AMD Market Segmentation, by Route Of Administration
11. Dry AMD Market Segmentation, by End User
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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