PUBLISHER: The Business Research Company | PRODUCT CODE: 1413954
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413954
“Age-Related Macular Degeneration Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on age-related macular degeneration market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for age-related macular degeneration? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The age-related macular degeneration market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Age-related macular degeneration (AMD) is a progressive eye condition characterized by the deterioration of the macula, located at the center of the retina, resulting in a gradual loss of central vision due to aging. Therapeutic options for AMD encompass regular eye examinations, lifestyle modifications, and specific nutritional supplements.
There are two main types of age-related macular degeneration, wet age-related macular degeneration (AMD) and dry age-related macular degeneration (AMD). Wet AMD is a progressive eye disease marked by the growth of abnormal blood vessels beneath the macula, the central part of the retina responsible for sharp, central vision. Treatment for wet AMD involves the use of various drugs such as Eylea, Lucentis, Avastin, and others. These drugs are administered through intravenous and intravitreal routes and are typically dispensed through hospital pharmacies, specialty pharmacies, and online pharmacies.
The age-related macular degeneration market research report is one of a series of new reports from The Business Research Company that provides age-related macular degeneration market statistics, including age-related macular degeneration industry global market size, regional shares, competitors with an age-related macular degeneration market share, detailed age-related macular degeneration market segments, market trends and opportunities, and any further data you may need to thrive in the age-related macular degeneration industry. This age-related macular degeneration market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The age-related macular degeneration market size has grown strongly in recent years. It will grow from $9.17 billion in 2023 to $9.9 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The expansion observed in the historical period can be attributed to demographic shifts characterized by an aging population, evolving lifestyles influenced by environmental factors, genetic predisposition, heightened awareness leading to early diagnosis, and advancements in diagnostic techniques.
The age-related macular degeneration market size is expected to see strong growth in the next few years. It will grow to $13.1 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The anticipated growth in the forecast period can be attributed to ongoing research in genetics and biomarkers, the emergence of novel therapeutic modalities, the increasing prominence of telemedicine and remote monitoring, as well as a focus on patient advocacy and education. Major trends expected in the forecast period include the adoption of personalized medicine approaches, innovations in retinal imaging technologies, the rise of sustained drug delivery systems, an increase in clinical trials for investigational therapies, and collaborative efforts in research and development.
The anticipated growth in the age-related macular degeneration (AMD) market is expected to be driven by the increasing prevalence of AMD, a progressive eye condition that affects the macula, a crucial part of the retina responsible for central vision. Treatments for age-related macular degeneration aim to mitigate the severity of the disease, and the rising prevalence of AMD is a significant factor contributing to market growth. According to reports from Optimaxa, a UK-based laser eye treatment specialist, as of February 2023, approximately 196 million individuals worldwide are affected by age-related macular degeneration (AMD), with projections estimating a rise to 288 million by 2040. This would account for 8.7 percent of the global population. The escalating prevalence of AMD underscores the need for effective treatments and is a key driver for the growth of the age-related macular degeneration market.
The expanding aging population is expected to contribute significantly to the growth of the age-related macular degeneration market. The aging population represents a demographic shift characterized by a higher proportion or an increasing number of individuals aged 65 years and older. As the global elderly population increases, there is a corresponding rise in the prevalence of AMD. For instance, in 2022, according to Visual Capitalist, a Canada-based company focused on creating visual content about the latest trends, there were 771 million people aged 65 years and older globally, accounting for almost 10% of the world's population. Consequently, the expanding aging population is a key factor driving the growth of the age-related macular degeneration market.
Product innovations emerge as a prominent trend in the age-related macular degeneration (AMD) market, with major companies actively developing novel products and drugs to solidify their market position. An example of this trend is evident in the actions of Genentech Inc., a leading US-based biotechnology and pharmaceutical company. In October 2021, Genentech received regulatory approval from the US Food and Drug Administration for its groundbreaking Susvimo (ranibizumab) therapy. This therapy is designed for patients suffering from wet AMD. Susvimo stands out as a sustained-release implant that delivers ranibizumab, preventing the growth of abnormal blood vessels in the retina. Notably, this innovative drug offers a more convenient and less invasive treatment option compared to traditional eye injections, marking a significant advancement in AMD treatment.
Major companies in the age-related macular degeneration market are engaging in strategic partnerships and collaborations to fortify their market presence. Strategic partnerships involve collaborative relationships formed between two or more organizations to achieve specific business objectives or goals. An illustrative case is the collaboration between Mosaic Biosciences, a US-based biotechnology company, and Ocular Therapeutix, a US-based pharmaceutical company. In June 2021, these companies entered into a research collaboration aimed at developing a drug to treat patients with dry age-related macular degeneration. This strategic partnership not only strengthens the companies' research and development portfolios but also presents a high-growth opportunity.
In May 2023, Astellas Pharma Inc., a Japan-based pharmaceutical company, acquired IVERIC Bio Inc. for $5.9 billion. Through this acquisition, Astellas Pharma aims to expand its presence in the ophthalmology market and accelerate the development of novel treatments for age-related macular degeneration. IVERIC Bio Inc., a US-based biotech corporation, specializes in the development of drugs and products for treating age-related macular degeneration, making it a strategic addition to Astellas Pharma's portfolio in the ophthalmology sector.
Major companies operating in the age-related macular degeneration market report are F. Hoffmann-La Roche Ltd., Novartis AG, Bayer AG, Pfizer Inc., Bausch Health Companies Inc., Regeneron Pharmaceuticals Inc., Amgen Inc., Alimera Sciences Inc., Alkeus Pharmaceuticals Inc., AbbVie Inc., Outlook Therapeutics Inc., Biogen Inc., Samsung Bioepis Co. Ltd., Allergan plc, Biocon Ltd., Bio-Thera Biopharmaceutical Co. Ltd., AstraZeneca plc, Acucela Inc., Ophthotech Corporation, Kodiak Sciences Inc., REGENXBIO Inc., Alkahest Inc., Opthea Limited, Apellis Pharmaceuticals Inc., Graybug Vision Inc., IVERIC bio Inc., Santen Pharmaceutical Co. Ltd., Ocular Therapeutix Inc., Tyrogenex Inc., Chengdu Kanghong Pharmaceutical Group Co. Ltd., I-Mab Biopharma Co. Ltd., pSivida Corp., Clearside Biomedical Inc., SciFluor Life Sciences LLC, Lineage Cell Therapeutics Inc.
North America was the largest region in the global age-related macular degeneration market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the age-related macular degeneration market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the age-related macular degeneration market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The age-related macular degeneration market consists of sales of anti-vascular endothelial growth factor (anti-VEGF) drugs, photodynamic therapy (PDT), low-vision aids, and telescopic lenses. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.