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Age-Related Macular Degeneration Market Research Report Information By Type (Wet Age-Related Macular Degeneration and Dry Age-Related Macular Degeneration), By State (Intermediate Stage Age-Related Macular Degeneration, Early-Stage Age-Related Macular Degeneration and Late Stage Age-Related Macular Degeneration), By Age Group (Above 75 Years, Above 60 Years and Above 40 Years), By Treatment (Treatment and Diagnosis), By Route of Administration (Intravitreal Route of Administration and Intravenous Route of Administration), and By Region
Market Overview
Age-Related Macular Degeneration Market Size was valued at USD 8 billion in 2021 and is projected to grow from USD 8.7 billion in 2022 to USD 14.9 billion by 2030, exhibiting a CAGR of 8.10% during the forecast period (2022 – 2030).
Competitive Analysis
The major players of the market are Hoffmann-La Roche AG, Bausch & Lomb Incorporate, Novartis AG, Pfizer Inc, ALLERGAN, Acucela Inc., Santen Pharmaceuticals Co., and Ophthotech Corporation.
Market Dynamics
The increased prevalence of age-related eye illnesses, the expanding senior citizen population, and the increasing funding for research and development are all major factors driving this expansion. The growing patient pool, novel therapeutics, strong product pipeline, and developments in gene therapies are further propelling this industry.
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The patents on many established pharmaceuticals are also about to expire, opening the door for new entrants to refine existing formulas. Since generic versions of patent-expired medications may be produced at reduced costs, macular degeneration treatment may become more accessible to those with lower budgets, thus increasing drug sales.
There are very few FDA-approved drugs for treating this condition. Consumers also run the risk of experiencing harmful side effects. Therefore, there is a great need for effective new medicines that have no safety risks to treat this illness. This has led several pharmaceutical firms to concentrate on developing cutting-edge gene therapies for treating the disease. Gene therapy administered through intravitreal injection not only improves and protects patients’ eyesight, but also has no cellular side effects. Such advantages will drive interest in this treatment, which in turn will boost the market throughout the forecast time frame.
Market Segmentation
The age-related macular degeneration market segmentation has been segmented by type into Wet Age-Related Macular Degeneration and Dry Age-Related Macular Degeneration.
The age-related macular degeneration market segmentation, based on stage, Intermediate Stage Age-Related Macular Degeneration, Early-Stage Age-Related Macular Degeneration and Late Stage Age-Related Macular Degeneration.
The age-related macular degeneration market data, based on age group, Above 75 years, Above 60 years and Above 40 years.
Based on treatment, the age-related macular degeneration industry, is segmented into treatment and diagnosis.
The age-related macular degeneration industry, based on route of administration, Intravitreal Route of Administration and Intravenous Route of Administration.
Browse In-depth Market Research Report (145 Pages) on Age-Related Macular Degeneration: https://www.marketresearchfuture.com/reports/age-related-macular-degeneration-market-5736
Regional Analysis
The market for treating AMD in North America is predicted to grow at a CAGR of 43.10% between 2016 and 2021, from a 2021 value of USD $3.5 billion. Several factors contribute to the expansion of the market, such as the growing older population and the incidence of AMD, the involvement of major market players, and increased R&D efforts.
The market for AMD is expanding at a particularly rapid rate in Asia and the Pacific. Sales of therapies for exudative AMD in APAC are currently insignificant because to accessibility concerns and high prescription prices. However, the prevalence of AMD in the region makes it a potentially lucrative market. The marketing and research of therapies for exudative AMD are also not being pursued by a large number of companies in the Asia-Pacific region.
The market for AMD treatments in Europe is projected to expand at a rapid clip between 2022 and 2030. This might be because of Europe’s large unmet demand and its newly found financial means to pay for patented drugs. The need for these medicines is expected to rise in the region as a result of demographic shifts and the introduction of effective treatments for macular degeneration.
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