Age-related Macular Degeneration Market Size to grow by USD 5.10 billion between 2024-2028
According to a research report “ Age-related Macular Degeneration Market” by Type (Wet AMD, Dry AMD) Distribution Channel (Hospital pharmacy, Specialty pharmacy, Online pharmacy) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 5.10 billion, at a CAGR of almost 6.54% during the forecast period. Age-related Macular Degeneration (AMD) is a significant vision impairment, characterized by progressive loss of central vision. In advanced stages, AMD hinders fundamental activities like reading, facial recognition, and driving. The World Health Organization reports AMD as the leading cause of blindness worldwide, particularly among individuals aged 65 and above. Risk factors, including aging, smoking, high cholesterol, and hypertension, significantly contribute to AMD's prevalence. This market entails developing innovative solutions to mitigate the impact of AMD on patients' quality of life.
Browse market data tables, figures, and in-depth TOC on “Age-related Macular Degeneration Market” by Type (Wet AMD, Dry AMD) Distribution Channel (Hospital pharmacy, Specialty pharmacy, Online pharmacy) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample
By Type, the Wet AMD segment is projected to dominate the market size in 2024
In the Age-related Macular Degeneration (AMD) market, hospital pharmacies play a pivotal role as a specialized distribution channel. They provide a comprehensive range of services, including advanced pharmaceuticals and therapies, to effectively manage AMD. Hospital pharmacies are staffed with healthcare experts, including pharmacists and ophthalmologists, who collaborate to develop personalized treatment plans. These entities offer dependable access to innovative AMD therapeutics, ensuring patients receive optimal care and effective management of their condition.
By Distribution Channel, Hospital pharmacy segment is expected to hold the largest market size for the year 2024
Age-related Macular Degeneration (AMD) market growth is primarily driven by the rising prevalence of the wet AMD subtype, accounting for 10-15% of all AMD cases. This condition is characterized by the abnormal growth of blood vessels under the retina and macula, leading to bleeding, fluid leakage, and macular bulge or detachment. The US FDA has approved several VEGF inhibitors, including LUCENTIS, EYLEA, and MACUGEN, for treating wet AMD, significantly expanding the market landscape.
North America is forecasted to hold the largest market size by region in 2024
In the North American market, the significant expansion can be attributed to the substantial prevalence of Age-Related Macular Degeneration (AMD). With approximately 20 million adults in the US and nearly 200,000 new cases annually in Canada, this condition's incidence is projected to rise, reaching 30 million in the US by 2050. This trend is primarily driven by the presence of high-risk factors, including age, which increases the risk of advanced AMD from 2% for individuals aged 50-59 to nearly 30% for those above 75.
The Age-related Macular Degeneration Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
.
For insights on company offerings- Request a sample report!
Research Analysis Overview
The Age-related Macular Degeneration (AMD) market encompasses a range of pipeline drugs aimed at addressing the unmet needs of the global population, particularly the geriatric demographic. Neovascular AMD, a severe form of the disease, is a significant focus for innovation, with various anti-VEGF therapies under development. These include ALXN2040, Danicopan, RGX-314, KSI-301, and OPT-302. The World Health Organization reports that AMD is a leading cause of vision loss among the elderly, making disease management a critical priority. Symptoms of AMD include blurred vision and difficulty distinguishing colors or faces. Epidemiology data indicates that the global population aged 60 and above is projected to reach 2 billion by 2050, increasing the demand for effective treatment options. Business possibilities in the AMD market are vast, with lifestyle changes and vitamin supplements also playing a role in disease prevention and management. Key players in the market include Regeneron, which markets Ranibizumab (Lucentis), and Eylea.
Market Research Overview
In the aging population, Age-related Macular Degeneration (AMD) is a significant cause of vision loss. AMD encompasses two forms: wet AMD, characterized by neovascularization, and dry AMD, marked by the presence of drusen. Key pipeline drugs, such as AAVCAGsCD59 from OpRegen, CPCB-RPE1 from MA09-hRPE, and RPESC-RPE-4W from GEM1003, are under development for AMD treatment. Other potential therapies include Risuteganib, Elamipretide, Visomitin, Zimura, Etamsylate, ALK-001, and various pipeline drugs. Anti-VEGF therapy, including Ranibizumab, Lucentis, and Eylea from Regeneron, is a common treatment for neovascular AMD. Lifestyle changes, vitamin supplements, and diagnostic tools like laser photocoagulation, photodynamic therapy (PDT), and anti-VEGF intravitreal injections are also utilized in AMD management. The AMD market revenue is substantial, with numerous strategic competitors, including World Health Organization, NPCB&VI, and online, retail, and hospital pharmacies, vying for market share. Unmet needs and business possibilities continue to drive research and innovation in this field.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
