Latest News- Age-related Macular Degeneration Market: Wet AMD is expected to lead the Type segment during 2024-2028

The Age-related Macular Degeneration Market is being driven by High prevalence of AMD

The Age-related Macular Degeneration Market is expected to grow at a CAGR of 6.54% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5.10 billion. In the age-related macular degeneration (AMD) market, the absence of approved therapies presents a significant opportunity for pharmaceutical companies to advance novel treatments. To expedite research and development, these firms are engaging in strategic collaborations. For instance, in late 2020, Janssen Pharmaceuticals, Inc., a Johnson & Johnson subsidiary, acquired Hemera Biosciences, LLC, gaining access to the investigational gene therapy HMR59. This one-time, outpatient, intravitreal injection aims to preserve vision for patients with geographic atrophy, a late-stage and severe form of AMD. This collaboration underscores the industry's commitment to advancing AMD treatments and improving patient outcomes. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Wet AMD
  • Dry AMD
• Distribution Channel
  • Hospital pharmacy
  • Specialty pharmacy
  • Online pharmacy
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
    • France
  • Asia
    • Japan
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• High prevalence of AMD
• Strong pipeline and expected approvals of AMD therapeutics
• Rising geriatric population

However, the market also witnesses some limitations, which are as follows:

• Lack of approved therapies for dry AMD
• Side effects of available AMD therapeutics
• Introduction of biosimilars

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Market Scope in Age-related Macular Degeneration Market Research Report

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Research Analysis Overview

The Age-related Macular Degeneration (AMD) market encompasses various aspects, including AMD screening and diagnosis, management and treatment, prevention, research, awareness, and support groups. Retinal specialists and healthcare professionals play crucial roles in AMD detection and care. Patient advocacy, public health, and health policy are essential for ensuring equitable access to AMD interventions. Outcomes research, patient satisfaction, and health equity are key focus areas, influenced by aging population, lifestyle factors, environmental factors, precision medicine, and big data analytics. AMD is a leading cause of age-related vision loss, characterized by central vision impairment and, in some cases, peripheral vision loss. Prevention and early detection are vital for mitigating the impact of AMD on daily life. AMD advocacy organizations and support groups provide valuable resources and information for those affected by this condition.

Market Research Overview

The Age-Related Macular Degeneration (AMD) therapeutics market is a significant segment of the global pharmaceuticals industry, encompassing treatments for Dry AMD, Wet AMD, and associated conditions such as choroidal neovascularization, subretinal fluid, macular atrophy, pigment epithelial detachment, and retinal pigment epithelium damage. According to Technavio, the global pharmaceuticals market, which includes entities involved in the research and development or manufacturing of generic and non-generic drugs, veterinary drugs, and AMD therapeutics, is poised for growth due to several key factors. One such factor is the increasing global population aging, with the proportion of individuals above 60 years projected to rise substantially, leading to a higher demand for AMD treatments. Additionally, advancements in anti-VEGF therapy, a common AMD treatment, are expected to further fuel market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/