Dublin, Nov. 08, 2024 (GLOBE NEWSWIRE) -- The "Age-Related Macular Degeneration (AMD) Drugs Market by Product (Lucentis, Eylea & Eylea HD, Vabysmo, Syfovre), Molecule (Ranibizumab, Aflibercept, Faricimab), Approval Type (Biologic, Biosimilar), Type of AMD, End User - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The Age-Related Macular Degeneration (AMD) Drugs market is projected to reach USD 17.37 Billion by 2029, growing from USD 10.46 Billion in 2024, at a CAGR of 10.7% during the forecast period of 2024-2029.
Major pharmaceutical companies have reported a 2 fold increase in the geriatric population (above 60 years of age) by 2050, and this increase will have an impact on the number of AMD cases as AMD is associated with old age. Lifestyle factors such as smoking, diet, and physical activity also significantly influence AMD risk.
For instance, studies have shown that smoking can accelerate the onset of AMD by an average of 5.5 years. According to the Macular Society (UK), smokers are likely to develop AMD up to 10 years earlier than non-smokers. Leading ophthalmologists from the UAE and UK have reported a decrease in the onset age of AMD and concluded that unhealthy lifestyle habits can bring down this age further by the next decade.
Researchers from Japan conducted research to examine the effects of alcohol on AMD and concluded that moderate to heavy alcohol consumption increases the risk of early AMD. Similarly, a higher body mass index (BMI) is associated with an increased risk of both early and late AMD, as obesity and lack of physical activity are linked to increased oxidative stress and inflammation, contributing to AMD development. Rising incidences of AMD are driving companies to expand their drug pipeline and seek fast-track designations to advance their products' availability.
For instance, in 2021 Opthea Limited received fast-track designation for its pipeline drug OPT-302 developed for the treatment of patients with wet AMD, advancing its development process. Similarly in 2023, Adverum Biotechnology received an Innovation Passport from the UK's MHRA for its pipeline drug Ixo-vec (ixoberogene soroparvovec), helping to speed up patient access and regulatory support in the UK. These developments along with a rising number of AMD cases are projected to increase the demand for AMD drugs in the market.
Vabysmo drug is set to register the highest growth during 2024-2029 in the Age-Related Macular degeneration (AMD) drugs market
Based on products the Age-Related Macular Degeneration (AMD) drugs market is segmented into Lucentis, Eylea & Eylea HD, Vabysmo, Syfovre, and other products including Beovu, Conbercept, Byooviz, and Izervay among others. Vabysmo (faricimab-svoa) is set to register the highest growth rate during the forecast period of 2024-2029, owing to the positive feedback received from patients and ophthalmologists for the treatment of AMD.
The rising adoption of the drug is also supported by the 4x increase in the revenue of the drug from 2022 to 2023. Studies conducted to test the efficacy and tolerability of the drug have concluded that the drug is well tolerated in people with retinal disorders and can preserve vision while reducing the frequency of injections elevating the treatment burden of the patients. The drug is also used for the treatment of patients who showed resistance to the treatment from Eylea (aflibercept) and has significant improvement in visual acuity.
Hospitals to witness the high growth in the AMD drugs market by End User
Based on end users, the age-related macular degeneration (AMD) drugs market is segmented into hospitals, specialty centers, and long-term care facilities. Hospitals are projected to witness the highest growth rate during the forecast period of 2024-2029. This growth can be attributed to factors such as the ability of hospitals to provide comprehensive care to patients through advanced healthcare infrastructure and specialized treatment facilities.
Additionally, hospitals are more abundant than any other end user (Specialty centers and Long-term care facilities) and modern hospitals are generally multispeciality in nature offering specialized treatment. Hospitals often collaborate with long-term care (LTC) facilities to provide support such as ophthalmologists for the treatment of individuals living in the care facility. Moreover, hospitals also partner with pharmaceutical companies to ensure an optimal supply of AMD drugs for the patients.
Biologics segment accounted for the highest growth rate in the Age-Related Macular Degeneration (AMD) drugs market by approval type
Based on approval type, the age-related macular degeneration (AMD) drugs market is segmented into biologics and biosimilars. During the forecast period of 2024-2029, biologics are projected to register the highest growth in the AMD drugs market by approval type. This high growth can be attributed to the increase in the number of approvals for biologics such as Vabysmo, Eylea HD, Syfovre, and Izervay, among others, for the treatment of AMD.
Moreover, as these drugs are recently approved they are protected by patents and generally prevent biosimilar entry into the market. Additionally, improved reimbursement policies and comprehensive insurance coverage offered for biologics generally deter patients and ophthalmologists from choosing biosimilars over biologics. New innovative companies are also developing novel biologics for treating various forms of AMD supporting the growth of this segment.
North America: The fastest-growing country in the Age-Related Macular Degeneration (AMD) drugs market
The Age-Related Macular Degeneration (AMD) drugs market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is projected to register the highest CAGR during the forecast period. Factors such as rising AMD cases due to an increase in the geriatric population and accompanied by unhealthy lifestyle and dietary habits, and increasing pharmaceutical R&D spending, by major pharmaceutical and biotechnology companies present in the region, to develop novel therapies and drug delivery systems for AMD disease are driving the growth of AMD drugs in the region. Additionally, growing public-private partnerships, increasing government support and improved reimbursement policies further support the growth of the AMD drugs market in this region.
Reasons to Buy the Report:
- Analysis of key drivers (Increasing risk of AMD due to changing lifestyle and dietary habits, Steady development and approvals of drugs and Favorable reimbursement and insurance policies), restraints (Off-Label Use of Drugs), opportunities (Shifting Focus on New Drug Modalities, Rapidly expanding market in developing countries, Need to address dry age-macular degeneration and geographic atrophy), and challenges (Non-adherence to treatments) influencing the growth of the Age-Related Macular Degeneration (AMD) drugs market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new therapy launches in the Age-Related Macular Degeneration (AMD) drugs market.
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various opportunities and developments across key geographic regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Age-Related Macular Degeneration (AMD) drugs market.
- Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players like Regeneron Pharmaceuticals Inc. (US), Bayer AG (Germany), F. Hoffmann-La Roche Ltd (Switzerland), and Novartis AG (Switzerland) among others in the Age-Related Macular Degeneration (AMD) drugs market.
Lists of Companies Profiled in the Report:
- Regeneron Pharmaceuticals Inc. (US)
- Bayer AG (Germany)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Novartis AG (Switzerland)
- Apellis Pharmaceuticals (US)
- Coherus BioSciences (US)
- Astellas Pharma Inc. (Japan)
- Biogen (US)
- STADA Arzneimittel AG (Germany)
- Formycon AG (Germany)
- Biocon. (India)
- Outlook Therapeutics, Inc. (US)
- Intas Pharmaceuticals Ltd. (India)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Chengdu Kanghong Biotech Company (China)
- Sandoz Group AG (Switzerland)
- Stealth BioTherapeutics Inc. (US)
- Ocular Therapeutix, Inc. (US)
- Opthea Limited (Australia)
- Kodiak Sciences Inc. (US)
- Innovent Biologics, Inc. (China)
- Bio-Thera Solution (China)
- Alvotech (Iceland)
- Alteogen Inc. (South Korea)
- Shanghai Henlius Biotech, Inc. (China)
- Amgen Inc. (US)
- Ocumension Therapeutics. (China)
- Adverum Biotechnologies, Inc. (US)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 336 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $10.46 Billion |
| Forecasted Market Value (USD) by 2029 | $17.37 Billion |
| Compound Annual Growth Rate | 10.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ddskg9
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