New York, USA, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Age-Related Macular Degeneration Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Age-Related Macular Degeneration Market Information by Type, Stage, Age Group, by Treatment Route of Administration, End User”, The market is predicted to reach USD 14.98 billion by 2030 at 8.1% CAGR during the forecast period 2022-2030
Market Scope:
Loss of central vision is a symptom of age-related macular degeneration, a degenerative eye disease. This occurs when there is dysfunction in the macula, the core part of the retina. This form of vision loss is irreversible and typically affects the elderly.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 14.98 Billion |
| CAGR | 8.1% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Stages, Age Group, Treatment and Route Of Administration and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Growing Geriatric Population and Increasing Prevalence of Age–Related Macular Degeneration |
| Drugs of several popular brands are going off-patent |
Age-Related Macular Degeneration Market Competitive Outlook:
When it comes to developing new products, major firms are collaborating on research in order to stay ahead of the competition. The leading companies in the market are devoting significant resources to developing innovative new products, which, along with a promising pipeline, should lead to rapid market growth. The advancement of the market will also be helped by the newly developed diagnostic technique and the introduction of innovative treatment options.
The prominent players of the age-related macular degeneration market are:
- Hoffmann-La Roche AG
- Bausch & Lomb Incorporate
- Novartis AG, Pfizer Inc
- ALLERGAN
- Acucela Inc.
- Santen Pharmaceuticals Co.
- Ophthotech Corporation
- Alimera Sciences Inc.
- GlaxoSmithKline PLC
- Regeneron Pharmaceutical Inc.
- Bayer AG
- Rxi Pharmaceuticals, Inc.
Age-Related Macular Degeneration Market Dynamics:
Market Drivers
The primary drivers for the market are expected to be the introduction of novel treatments for the treatment of age-related macular degeneration (AMD), the increase in the prevalence of AMD, and the robust product pipeline. Pharmaceutical companies all over the world have responded to the rising demand for medicines to treat this illness by developing patent-in-expiry versions of existing drugs. There is a growing consumer base for these products because of the aging of the population and the high incidence of the disease. Because of these factors, the market for treatments for AMD is expanding rapidly.
Vision loss is a major issue for the elderly because it worsens with time. Dry macular degeneration and wet macular degeneration are the two main types of macula wear and tear that lead to the disorder. Both are potentially lethal and require treatment with medication. The potential market for treatment of age-related macular degeneration is growing in response to rising demand from the elderly.
Also, patents are expiring on numerous well-known medicine names, allowing competition to drive improvements in current formulations from a variety of companies. Because of this, the market for treatments for age-related macular degeneration is expanding rapidly. Drugs that have lost their patent protection can now be produced at lower cost, making macular degeneration treatment more accessible to those of a lower income.
Market Restraints
Neither insurance nor Medicare will cover the cost of such medications. This could slow down the expansion of the market for AMD treatments. Market expansion may be limited even by the severe FDA requirements. The therapy of age-related macular degeneration has not been widely adopted in many African and Middle Eastern nations. Fewer people can afford health care, and those who do have it are farthest from the nearest clinic. Because of this, the market for AMD may not expand as much as expected throughout the predicted time frame.
Browse In-depth Market Research Report (145 Pages) on Age-Related Macular Degeneration: https://www.marketresearchfuture.com/reports/age-related-macular-degeneration-market-5736
COVID-19 Analysis:
The need for medical goods rose during the coronavirus pandemic, and the market for treatments for AMD increased significantly as a result. In addition, the number of unapproved treatments for the illness that are available worldwide has grown in recent years. The global lockout and reduction in pharmaceutical transportation didn't affect the age-related macular degeneration industry worth as much as the huge demand did.
An surge in off-label medicine use also contributed to drug shortages, although supply chain disruptions and hiccups in production played a larger role. Market participants' persistent attempts to usher in novel A.M.D. market trends have also contributed to the industry's ascent. The market will recover to pre-pandemic levels in the ensuing years.
Age-Related Macular Degeneration Market Segmentation:
When broken down into AMD phases, the intermediate stage is one of the most prevalent and accounts for the bulk of the market share. It is also expected to expand at a rate higher than any other sector.
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By Type
Dry AMD accounted for 2092.6% of the market. In contrast, wet AMD will expand at the fastest rate because it is the leading cause of sudden blindness.
By Stage
The intravitreal method of administration is the most common and has the highest market share. A rise of 7.7 percent is predicted for it.
By Treatment
High demand means that the treatment subsegment will make up the bulk of the market.
Age Group
Maximum expansion can be expected in the age group of those who are above 75.
End-User
Hospitals and clinics will make up a sizable portion of the market and grow at a rate of 7.6 percent due to the rising prevalence of health problems requiring medical attention.
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Age-Related Macular Degeneration Market Regional Analysis:
Since the aging population and the prevalence of ophthalmological disorders are both increasing in the Americas, the area will have a disproportionately large part of the worldwide market. As a result of rising government spending and demand in the healthcare industry, Europe will become the second largest market.
Growth in the Asia-Pacific age-related macular degeneration market is expected to be fueled by rising healthcare spending, rising rates of eye disease, and the expansion of multinational corporations. The high geriatric population and disease load in the region are major contributors to its rapid development. Potentially spurring market expansion are government programs that make expensive anti-VEGF drugs more accessible to the public.
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