Age-Related Macular Degeneration Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: February 20, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 9.1 billion |
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Revenue Forecast in 2030 |
US$ 17.44 billion |
|
CAGR |
7.5% |
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Base Year for Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Product, Disease Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global age-related macular degeneration treatment market was valued at US$ 9.1 billion in 2021 and is expected to register a revenue CAGR of 7.5% to reach US$ 17.44 billion by 2030.
Age-related Macular Degeneration Treatment Market Fundamentals
Age-related macular degeneration (AMD) is a progressive eye disease that affects the macula, a small part of the retina responsible for central vision. There are two main types of AMD: dry and wet. Dry AMD is the more common form of the disease and typically progresses slowly. At the same time, wet AMD is less common but more severe and can cause rapid and severe vision loss. Although there is no cure for AMD, several treatments available can help slow the progression of the disease and improve the quality of life for affected individuals.
AMD treatment options include anti-VEGF drugs, photodynamic therapy, laser therapy, low-vision aids, and dietary supplements. Anti-VEGF drugs are the most common treatment for AMD. These drugs work by blocking the growth of abnormal blood vessels in the retina, which cause vision loss. Photodynamic therapy treatment is used in some cases of wet AMD. A light-activated drug is injected into a vein, which is then activated by a laser to destroy the abnormal blood vessels in the retina. These treatments are usually tailored to the specific type and severity of AMD and may involve a combination of approaches.
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Age-related Macular Degeneration Treatment Market Dynamics
The rising geriatric population is the major driver of the global age-related macular degeneration treatment market. For instance, according to WHO’s October 2022 factsheet, all major countries are facing the problem of a vast geriatric population, and it is rising at a much faster pace than in the past. The factsheet also states that 1 in 6 people worldwide will be aged 60 years or above by 2030.
The development of new treatments for AMD, such as anti-VEGF injections and photodynamic therapy, has significantly improved the prognosis for people with this condition and is also helping in the revenue growth of the global age-related macular degeneration treatment market. The rise in the number of pipeline drugs for AMD, such as EG-301, KSI-301, and OPT-302, fueling the revenue growth of the global age-related macular degeneration treatment market.
However, the high cost of the treatment, limited accessibility, and side effects associated with the treatment are some of the restraints impeding the age-related macular degeneration treatment market revenue growth.
Age-related Macular Degeneration Treatment Market Ecosystem
The global age-related macular degeneration treatment market is analyzed from four perspectives: product, disease type, distribution channel, and region.
Age-related Macular Degeneration Treatment Market by Product
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Based on the product, the global age-related macular degeneration treatment market is segmented into Lucentis, Eylea, Beovu, and others.
The demand for Beovu is expected to rise during the forecast period, attributed to positive treatment results in severe wet AMD cases and superior drying efficacy. Beovu (brolucizumab) is a newer anti-VEGF medication approved by the U.S. Food and Drug Administration (FDA) in 2019 for treating wet AMD. It works by blocking the growth of abnormal blood vessels and reducing inflammation in the eye. Additionally, Beovu has been shown to have a longer duration of action than other anti-VEGF medications, which means that it may require less frequent injections. Beovu is a smaller molecule than other anti-VEGF medications, which may allow for higher potency and better penetration into the retina. These factors contribute to the revenue growth of the Beovu segment.
Age-related Macular Degeneration Treatment Market by Disease Type
Based on the disease type, the global age-related macular degeneration treatment market is segmented into wet and dry age-related macular degeneration.
The wet age-related macular degeneration segment accounted for the principal revenue share of the market in 2021, attributed to its rising prevalence. Wet AMD is a more advanced and severe form of AMD. It occurs when abnormal blood vessels grow beneath the macula, causing leakage of fluid and blood, which damages the macula and leads to rapid vision loss. Wet AMD is typically characterized by sudden and noticeable changes in vision, such as seeing dark spots, blurry or distorted vision, and a loss of central vision. These changes can occur rapidly, often within days or weeks, and can lead to severe visual impairment if left untreated. These overall aspects contribute to the revenue growth of the wet AMD segment.
Age-related Macular Degeneration Treatment Market by Distribution Channel
Based on the distribution channel, the global age-related macular degeneration treatment market is segmented into hospital pharmacy, specialty pharmacy, and online pharmacy.
The hospital pharmacy segment dominated the market with the largest revenue share in 2021, owing to the rising prevalence of retinal disorders and hospitalization for treatment. In addition to medical treatments, hospitals may also offer supportive services to patients with AMD, such as low-vision rehabilitation services, which can help patients to adapt to changes in their vision and learn how to use adaptive devices and technologies to maintain their independence. The hospital segment for AMD is an important part of the overall management of the disease. It can play a critical role in helping patients to maintain their vision and quality of life as the disease progresses. Patients need to work closely with their eye doctor to develop a comprehensive treatment plan that meets their individual needs and goals. These overarching variables contribute to the hospital pharmacy segment’s revenue growth.
Age-related Macular Degeneration Treatment Market by Region
Geographically, the global age-related macular degeneration treatment market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominated the global age-related macular degeneration treatment market with the largest revenue share in 2021, attributed to the increased cases of eye problems, the growing senior population, and the availability of quality healthcare services. Additionally, major firms across the region are continuously involved in research & development activities to launch novel medications to treat AMD, which is helping in regional revenue growth.
Age-related Macular Degeneration Treatment Market Competitive Landscape
The prominent players operating in the global age-related macular degeneration treatment market are:
Age-related Macular Degeneration Treatment Market Strategic Developments
The global age-related macular degeneration treatment market is expected to be valued at US$ 17.44 billion by 2030.
The age-related macular degeneration treatment market is expected to register a revenue CAGR of 7.5% during the forecast period from 2022 to 2030.
The rise in the number of pipeline drugs, the development of new treatments, and the increasing geriatric population are driving the revenue growth of the global age-related macular degeneration treatment market.
The wet age-related macular degeneration segment dominates the age-related macular degeneration treatment market, due to the larger patient pool.
Some prominent players operating in the global age-related macular degeneration treatment market are F. Hoffmann-La Roche Ltd., Opthea, Kodiak Sciences Inc., Regeneron Pharmaceuticals, and IVERIC Bio, Inc.
*Insights on financial performance are subject to the availability of information in the public domain