USD 9.2 billion
Report ID:
SQMIG35I2357 |
Region:
Global |
Published Date: November, 2024
Pages:
193
|Tables:
88
|Figures:
71
Global Age-related Macular Degeneration Market size was valued at USD 9.2 billion in 2022 and is poised to grow from USD 10.19 billion in 2023 to USD 23.16 billion by 2031, growing at a CAGR of 10.80% during the forecast period (2024-2031).
Known as age-related macular degeneration (AMD), this slow progressing condition affects the eyes’ central part—the macula—connected with the retina. It causes damage to and eventually death of cells in macula leading to gradual loss of sight among elderly people. Two main types of the disease are usually identified: dry age-related macular degeneration (AMD) and wet age-related macular degeneration (AMD). Dry AMD is more common than wet AMD, which is rarer and leads to the growth of abnormal blood vessels underneath the macula.
To minimize dry AMD propensity treatments, include vitamin supplements together with changing one’s lifestyle to be healthier. Yet for wet AMD individuals need to go for injections directly into their eye preventing formation of peculiar veins leading to designing such medications. As for its working principle this sort of treatment is recognized as anti-VEGF or aberrant endothelial growth factor therapy involved in stopping any proteins that facilitate the creation of weird blood vessels. One important aspect behind loss in sight among elderly is the global age-related macular degeneration market. The senior population's increased use of medications for age-related macular degeneration (AMD) contributes to the market's growth. Take the rise in the number of people taking these medications.
Global Market Size
USD 9.2 billion
Largest Segment
Biosimilars
Fastest Growth
Hospitals
Growth Rate
10.80%
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Global Age-related Macular Degeneration Market is segmented by Product, Molecule, Approval Type, Type of AMD, End User, and region. Based on Product, the market is segmented into Eylea & Eylea HD, Lucentis, Vabysmo, Syfovre, and Other Products. Based on Molecule, the market is segmented into Aflibercept, Faricimab, Ranibizumab, Pegcetacoplan, and Other Molecules. Based on Approval Type, the market is segmented into Biologics, and Biosimilars. Based on Type of AMD, the market is segmented into Wet AMD, and Dry AMD. Based on End User, the market is segmented into Hospitals, Long-Term Care Facilities, Specialty Centers, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Drug Type
As per categorization by drug type, the market is classified as aflibercept, ranibizumab and others. Among these, aflibercept earned the largest share and continues to dominate the market. Aflibercept is a leading treatment for age-related macular degeneration (AMD) due to its potent angiogenesis inhibition and extended dosing intervals, enhancing patient compliance. Its dominance stems from clinical efficacy, reducing vision loss effectively, and offering superior outcomes over older therapies. Continuous advancements reinforce its pivotal role in AMD management.
Ranibizumab is expected to be the most rapidly expanding pharmaceutical agent in the global age-associated macular degeneration market due to its great efficiency in minimizing retinal destruction and shorter intervals of administration that enhance patients’ compliance. Furthermore, it has been proven through recent developments and clinical studies that it has better vision preserving ability than earlier medications. Also, its known safety record as well as present investigation of how best to utilize it have led to an increased acceptance and growth in AMD treatment arena.
Analysis by Disease Type
Wet AMD dominates the global market due to its severe impact on vision and high treatment demand. Innovations include advanced anti-VEGF therapies and novel gene therapies, improving efficacy and reducing treatment burden. Its prominence is driven by the urgent need for effective management of this aggressive form of AMD.
Dry AMD is set to be the fastest-growing segment in the global AMD market due to its higher prevalence and emerging treatment options. Therapeutic strategies have been innovatively enhanced by way of nutritional supplements and new pharmacotherapeutics which bear good fruits. The rapid growth is driven by increased awareness among the public and investment in research as new treatments hold a promise to delay progression and possibly restore sight. Thus, there’s a growing demand for effective dry AMD remedies, especially as the elderly population continues to increase.
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North America is ahead in the global age-related macular degeneration market as its healthcare system is advanced, it has a high prevalence rate of AMD and there are significant investments in research. In addition, the region enjoys established regulatory pathways which enable faster access to innovative treatments. Moreover, there are strong awareness programs and high health care expenditures that support the wide use of advanced therapies. The presence of leading pharmaceutical companies and clinical trial hubs in North America further supports its dominance. The growing aging population and increasing incidence of AMD in this region drive continuous demand for effective treatment solutions, reinforcing North America's market leadership.
The fastest growing region of world in the global age-related macular degeneration market is Asia-Pacific owing to rapid urbanization, increasing aging population and rising healthcare investments. Improved economic growth provides better access to advanced medicines for ocular diseases like AMTs while the increasing awareness about them drives demand for effective therapies. This region has a huge number of AMD patients and there has been significant investment in research and development which promotes expansion of this sector. Moreover, having established collaborations with globally recognized pharmaceutical corporations, local partners now foster an increase in accessibility and cost-friendly approaches to age-related macular degeneration medication which stimulates fast growth within the Asia-Pacific region’s market whilst at the same time responding to healthcare demands that arise across a vast territory.
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Drivers
Rising Aging Population
Advancements in Treatment Options:
Restraints
Lack of Early Diagnosis
Limited Reimbursement Coverage
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The competitive global age-related macular degeneration market denotes that a host of various pharmaceutical companies struggle to capture market share with their new therapies. Novartis’ Lucentis is one of the key anti-VEGF drugs while Eylea, developed by Regeneron Pharmaceuticals, stands out. To mention but a few Roche’s Avastin is part of key players in this field. They work hard developing advanced treatment modalities meant at ensuring better patient outcomes and filling any existing gap in terms of successful therapies. Thereby competition enhances ongoing innovations, which consequently leads to more effective treatments being available for AMD patients globally.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, there have been remarkable progressions in the global age-related macular degeneration market regarding treatment modalities because of an increasing elderly populace as well as inventive pharmaceuticals. Although wet AMD still takes precedence due to its gravity, dry AMD is exponentially expanding due to new therapeutics targeting higher incidence rates.
North America governs the market owing to what it has in terms of a solid healthcare infrastructure, whereas the fastest growth is realized in the Asia-Pacific region due to urbanization and also investment in healthcare. Despite the challenges of high treatment costs and regulatory hurdles, the AMD treatment landscape is constantly shaped by ongoing research and market dynamics.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 9.2 billion |
Market size value in 2031 | USD 23.16 billion |
Growth Rate | 10.80% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Age-related Macular Degeneration Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Age-related Macular Degeneration Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Age-related Macular Degeneration Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Age-related Macular Degeneration Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
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Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG35I2357
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