Market Research Future (MRFR) anticipates that the age-related macular degeneration market would touch USD 11,186.8 million by 2027-end. Additionally, the global market size shall grow at a rate of 7.80% during the forecast period.
Top Boosters and Key Challenges
Age-related macular degeneration (AMD) is a condition that largely affects the elderlies. Therefore, the rapidly expanding geriatric population, and their rising vulnerability to the condition should raise the demand for effective treatment. Latest reports confirm that nearly 150 million patients are suffering from AMD worldwide as of now. In the United States, the significant burden of AMD, which is almost 11 million, is fostering the urgent need for advanced medicines and drugs. This should eventually bolster the growth rate of the age-related macular degeneration market in the ensuing years.
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Majority of the eminent firms in the market put a lot of effort to develop high quality and performance solutions, with the aim to strengthen their product pipeline. The emergence of new diagnostic techniques as well as novel treatment processes should further uplift the market position in the next couple of years.
The primary stages considered in the report are early-stage AMD, intermediate-stage AMD, as well as late-stage AMD. The most common among these is the intermediate stage of the age-related macular degeneration and would therefore, capture the biggest share in the global market over the years ahead. Not to mention, the segment should also procure the fastest CAGR from 2020 to 2027.
The various age-related macular degeneration types are wet age-related macular degeneration along with dry age-related macular degeneration. With the highest valuation of USD 2092.6 million in 2017, the dry AMD took the lead in the market while the wet AMD should witness the fastest growth in the years to follow.
Administration-wise, the key segments can be intravitreal route of administration and intravenous route administration.
Treatments listed in the MRFR analysis include diagnosis as well as treatment.
The age groups generally affected by the health condition are people above 75 years, people above 40 years of age, and more than 60 years. Between these, patients above 75 years of age form the top segment in the global market.
Top End Users in the report are academic research institutes, diagnostic centers, and hospitals and clinics.
The Americas leads the global market for age-related macular degeneration, benefitting from the expanding elderly patient base along with the rapid surge in ophthalmological disorders. The mounting number of government initiatives as well as the thriving healthcare system in the United States and Canada adds to the market value as well.
Asia Pacific will be one of the strongest markets for age-related macular degeneration in the coming years, thanks to the rise in healthcare spending, and the accelerated cases of eye disorders. Soaring number of MNCs in the age-related macular degeneration field, favorable government initiatives, and the surge in research partnerships are some of the other major growth boosters. The APAC industry further benefits from the established affluent players that are focused on introducing new and highly innovative products.
Renowned Market Firms
Santen Pharmaceuticals Co., ALLERGAN, F. Hoffmann-La Roche AG, Ophthotech Corporation, Bayer AG, Pfizer Inc, Novartis AG, Regeneron Pharmaceutical Inc., Acucela Inc., Alimera Sciences Inc., GlaxoSmithKline PLC, Rxi Pharmaceuticals, Inc., Bausch & Lomb Incorporate, are the top industry firms listed in the MRFR assessment.
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