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Age-Related Macular Degeneration market growth analysis
PORTLAND, OR, UNITED STATES, November 21, 2024 /EINPresswire / -- Increase in prevalence of age-related macular degeneration cases, rise in geriatric population, and growth in clinical research and development are the major factors which drive the global market growth.
Allied Market Research published a report, titled, "Age Related Macular Degeneration Market by Drug Type (Aflibercept, Ranibizumab and Others),
disease Type (Wet Age Related Macular Degeneration (AMD), Dry Age Related Macular Degeneration (AMD)) and Distribution Channel (Hospital Pharmacy, Retail Pharmacy and Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the age related macular degeneration market was valued at $10.0 billion in 2023, and is estimated to reach $16.2 billion by 2033, growing at a CAGR of 5% from 2024 to 2033.
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Prime determinants of growth
Rise in prevalence of age-related macular degeneration cases and rise in geriatric population are the major factors that drive the growth of the age-related macular degeneration market. However, high cost of treatment hinders the market growth. Moreover, technological advancements offer remunerative opportunities for the expansion of the global age-related macular degeneration market.
Report coverage & details
Report Coverage
Details
Forecast Period
2024–2033
Base Year
2023
Market Size in 2023
$9.9 billion
Market Size in 2033
$16.2 billion
CAGR
5.0%
No. of Pages in Report
216
Segments Covered
Drug Type, Disease Type, Distribution Channel, and Region
Drivers
Increase in incidences of age-related macular degeneration (AMD) across the globe
Increase in geriatric population
Growth in government initiatives
Opportunities
Increase in number of pipelines drug
Restraints
High cost of treatment
Segment Highlights
The aflibercept drug are widely used
By drug type, the Aflibercept (Eylea) segment is widely used for treating wet age-related macular degeneration (AMD) due to its effectiveness in inhibiting vascular endothelial growth factor (VEGF) . This action prevents abnormal blood vessel growth and leakage in the eye, helping to maintain vision and slow disease progression. Its proven efficacy and safety profile make it a preferred choice among clinicians.
Prevalence of Wet Age-Related Macular Degeneration (AMD)
By disease type, the wet age-related macular degeneration (AMD) segment has a significant market share owing to it being increasingly prevalent, particularly among the aging population. Characterized by abnormal blood vessel growth under the retina, it leads to rapid vision loss. The rising incidence highlights the need for effective treatments, such as anti-VEGF therapies, to manage and slow disease progression.
Hospitals pharmacies are the major distributors
By distribution channel, the hospital pharmacies segment plays a pivotal role in distributing drugs for age-related macular degeneration (AMD), ensuring timely access for patients. They manage inventory, fill prescriptions, and provide counseling. AMD drugs, like anti-VEGF injections, require careful handling and administration. Hospital pharmacies ensure proper storage and delivery, optimizing treatment outcomes for patients with AMD, a condition affecting central vision in older adults.
Regional Outlook
In North America and Europe, the age-related macular degeneration (AMD) drugs market is robust due to high prevalence and advanced healthcare infrastructure. Asia-Pacific shows promising growth driven by rising elderly population and improving healthcare access. Latin America and Middle East/Africa regions exhibit steady growth, supported by increasing awareness and healthcare investments.
Players
Regeneron Pharmaceuticals Inc.
Novartis AG
F. Hoffmann-La Roche Ltd.
Biogen
Bayer AG
Coherus Biosciences Inc
Sanofi
Apellis Pharmaceuticals
Bausch Health Companies Inc.
Ionis Pharmaceuticals, Inc
The report provides a detailed analysis of these key players in the global age-related macular degeneration market. These players have adopted different strategies such as expansion, product approval, product launch and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Industry Development
In September 2021, Samsung Bioepis Co., Ltd., and Biogen Inc. announced that the U.S. Food and Drug Administration (FDA) has approved Byooviz (ranibizumab-nuna), a biosimilar referencing Lucentis (ranibizumab) for the treatment of neovascular (wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), and myopic choroidal neovascularization (mCNV) .
In January 2022, Roche announced that the U.S. Food and Drug Administration (FDA) has approved Vabysmo (faricimab-svoa) for the treatment of neovascular or wet age-related macular degeneration (nAMD) and diabetic macular edema (DME) . Neovascular AMD and DME are two leading causes of vision loss across the globe.
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Sachin Bhandare
Allied Market Research INC
+91 81490 46454
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