Forecasting Growth: Age-Related Macular Degeneration Market Set to Reach $15.4 Billion by 2032

PORTLAND, OREGON, UNITED STATES, June 21, 2024 /EINPresswire.com/ -- Age-Related Macular Degeneration (AMD) Market Overview

The age-related macular degeneration (AMD) market, valued at $9.4 billion in 2022, is anticipated to grow to $15.4 billion by 2032, reflecting a compound annual growth rate (CAGR) of 5% from 2023 to 2032. AMD is a progressive eye condition affecting the macula, the central part of the retina, leading to vision loss. It is categorized into two main types: dry AMD, characterized by the accumulation of yellow deposits in the macula, and wet AMD, which involves the growth of abnormal blood vessels under the macula.

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/3538

Market Dynamics
Growth Drivers
Increasing Geriatric Population: The growing number of elderly individuals globally is a significant driver for the AMD market. The World Health Organization (WHO) projects that by 2030, one in six people will be aged 60 or older. This demographic shift will likely increase the prevalence of AMD, thereby driving market growth.

Rising Adoption of AMD Drugs: The demand for AMD treatments is on the rise, particularly for anti-VEGF therapies used in wet AMD. These treatments, which inhibit the growth of abnormal blood vessels, are becoming more widely adopted as awareness and diagnosis rates improve.

Pipeline Developments: Several promising drugs are in the late stages of development, which could significantly impact the market. Notable candidates in phase II and III trials include ALK-001, Zimura, and Risuteganib.

Technological Advances and Product Approvals: Recent FDA approvals, such as Roche’s Susvimo for wet AMD, highlight ongoing advancements and regulatory support, contributing to market expansion.

Market Restraints
High Treatment Costs: The expense associated with AMD treatments remains a barrier, particularly in developing regions where insurance coverage is limited. The average cost per person for AMD treatment is substantial, which can impede market growth.

Impact of COVID-19: The pandemic disrupted routine eye care and delayed the development and approval of new treatments. This has had a temporary but significant impact on the AMD market.

Market Segmentation
By Drug Type
Aflibercept: Dominated the market in 2022 due to its widespread adoption and effectiveness.
Ranibizumab: Continues to be a key player in the market, particularly for wet AMD.
By Disease Type
Dry AMD: Typically managed with vitamin supplements and lifestyle modifications.
Wet AMD: Requires more intensive treatments, such as anti-VEGF injections.

By Distribution Channel
Hospital Pharmacy: Holds the largest market share due to the high volume of prescriptions filled through these channels.
Retail and Online Pharmacies: Gaining traction due to convenience and expanding access.

By Region
North America: Leads the market with a strong presence of major pharmaceutical companies and a high geriatric population.
Asia-Pacific: Expected to grow the fastest, driven by increasing investments in healthcare infrastructure and favorable government policies.

Competitive Landscape
Major players in the AMD market include Regeneron Pharmaceuticals Inc., Novartis AG, F. Hoffmann-La Roche Ltd, Biogen, and Bayer AG. These companies are focused on product approvals and launches to enhance their market presence. Notable recent approvals include Novartis' Beovu and Biogen’s Byooviz, which underscore the dynamic nature of the AMD treatment landscape.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/3538

David Correa
Allied Market Research
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