Age-related macular degeneration, as the name suggests, is a condition, which is common among the aged population. It results in loss of vision and afflicts a high number of people over the age of 65 years. Market Research Future (MRFR), has launched a comprehensive report on the global age-related macular degeneration market, covering the key dynamics that can affect the market over the forecast period of 2018-2023. As per MRFR's analysis, the market is anticipated to reach USD 11,186.8 Mn at a CAGR of 7.80% by the end of 2023.
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Rapid greying of the global populace is the key factor boosting the growth of the market. Due to the surging prevalence of the diseases among elderly people, a high number of clinical trials and R&D activities are being directed towards the development of effective drugs and therapies, which can uplift the growth of the market over the forecast period. Currently, a number of drugs are available in the market for the diseases such as Lucentis (ranibizumab), Eylea (aflibercept), and other anti-VEGF drugs. however, these drugs are not covered under insurance policies for reimbursement and their price is slightly on the higher side, which can restrain the growth of the market over the forecast period.
Segmental Analysis:
MRFR’s discussion of the age-related macular degeneration market is segmented by type, age group, route of administration, treatment, and end-user.
Based on the type, the age-related macular degeneration market can be segmented into dry age-related macular degeneration and wet age-related macular degeneration. The wet AMD segment can achieve the fastest CAGR of 7.80% over the review period.
Based on the age, the age-related macular degeneration market comprises above 75 years, above 60 years, and above 40 years. The group with above 75 years is expected to surge with the fastest CAGR during the forecast period.
Based on the route of administration, the age-related macular degeneration market includes intravitreal, intravenous, and others. The intravitreal segment has the maximum market share and is expected to top the CAGR chart during the forecast period.
Based on the treatment, the age-related macular degeneration market comprises medications, devices, surgery, and others. The medication segment includes anti-VEGF drugs, blood vessel growth inhibitors, vitamins, dietary supplements, and others. The devices segment consists glasses, contact lenses, corrective lenses, and others.
Based on the end-user, the age-related macular degeneration market comprises pharmaceutical & biotechnology companies, academic research institutes, hospitals & diagnostic centers, clinics, and others.
Regional Analysis
By region, the age-related macular degeneration market report covers the latest trends and growth opportunities across the Americas, the Asia Pacific, the Middle East and Africa, and Europe. Of these, the Americas will outweigh the other regions in the market during the forecast period for increasing aging population coupled with rising ophthalmological disorders.
The age-related macular degeneration market in Europe will have the second-largest share in the market during the forecast period. Various factors are propelling the growth of the age-related macular degeneration market in the region, such as growing demand for treatment that is technologically innovative, increasing healthcare frame, improving government initiatives, rising patient population, and increasing older population.
The age-related macular degeneration market in the APAC region will grow at the fastest pace during the forecast period. Various factors are propelling the growth of the age-related macular degeneration market in the region, such as the emergence of several players, multinational companies shifting towards developing nations as well as setting operational set-ups, increasing healthcare spending, and increasing incidence of eye disorders. Japan is a major contributor in this region.
The age-related macular degeneration market in the MEA will have restricted growth during the forecast period for limited access and limited healthcare affordability. The market growth in the Middle East is due to increasing healthcare expenditure and increasing healthcare infrastructure.
Competitive Landscape:
MRFR in their report on the age-related macular degeneration market included Regeneron Pharmaceutical Inc., F. Hoffmann-La Roche AG, Santen Pharmaceuticals, Novartis AG, Bayer AG, and others as possible market influencers.
In January 2019, researchers from the University of Liverpool discovered new genes that can be linked with age-related macular degeneration. This could lead to proper treatment for the disease as the root cause for the disease is still unclear
List of Tables
TABLE 1 MARKET SYNOPSIS 24
TABLE 2 PRIMARY INTERVIEWS 29
TABLE 3 GLOBAL AGE-RELATED MACULAR DEGENERATION MARKET, BY TYPE, 2020 & 2027 46
TABLE 4 GLOBAL AGE-RELATED MACULAR DEGENERATION MARKET BY TYPE, 2020–2027 (USD MILLION) 47
TABLE 5 GLOBAL AGE-RELATED MACULAR DEGENERATION MARKET FOR WET AGE RELATED MACULAR DEGENERATION, BY REGION, 2020–2027 (USD MILLION) 47
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