Age-Related Macular Degeneration Market Research Report - Forecast till 2030

Age-Related Macular Degeneration Market: Information by Type (Wet Age-Related Macular Degeneration (Wet AMD) and Dry Age-Related Macular Degeneration (Dry AMD)) Stage (Intermediate Stage Age-Related Macular Degeneration, Early-Stage Age-Related Macular Degeneration and Late Stage Age-Related Macular Degeneration) Age Group (Above 75 years, Above 60 years and Above 40 years) by Treatment (Treatment and Diagnosis) Route of Administration (Intravitreal Route of Administration and Intravenous Route of Administration) End User (Hospital &a...

ID: MRFR/Pharma/4281-CR | February 2021 | Region: Global | 145 Pages         

Age-Related Macular Degeneration Market

Age-Related Macular Degeneration Market Will Reflect Significant Growth Prospects of 8.1% to reach USD 14.98 billion during forecasted period 2022-2030.

Segmentation

By Type Wet Age Related Macular Degeneration Dry Age Related Macular Degeneration
By Stage Intermediate Stage Age Related Macular Degeneration Early Stage Age Related Macular Degeneration Late Stage Age Related Macular Degeneration
By Age Group Above 75 Years Above 60 Years Above 40 Years
By Treatment Treatment Diagnosis
By Route of Administration Intravitreal Route Of Administration Intravenous Route Of Administration

Key Players

  • Hoffmann-La Roche AG
  • Bausch & Lomb Incorporate
  • Novartis AG
  • Pfizer Inc
  • ALLERGAN
  • Acucela Inc.
  • Santen Pharmaceuticals Co.
  • Ophthotech Corporation
  • Alimera Sciences Inc.
  • GlaxoSmithKline PLC
  • Regeneron Pharmaceutical Inc.
  • Bayer AG
  • Rxi Pharmaceuticals Inc.

Drivers

  • Rising growth of the older age population
  • Increasing number of AMD patients
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Age-Related Macular Degeneration Market Overview


The age-related macular degeneration market is soaring higher all across the globe in recent times. So, the market value is predicted to reach USD 14.98 billion by the end of 2030. Along with that, the market is presumed to grow at a CAGR of 8.1% for the forecast period between 2022 and 2030. Basically, age-related macular degeneration refers to a chronic medical condition in which there is a loss of central vision. This happens due to any damage in the central region of the retina termed the macula. It is a permanent vision loss, and the condition is mostly seen in people at an older age.


Over the years, drug manufacturers around the world are creating expiry patent branded medicines for the treatment of this condition which is leading to the rise in demand. The increasing geriatric population and the prevalence of numerous cases of the condition is resulting in an increase in market potential. All these boosts the age-related macular degeneration market growth.


The condition of permanent vision loss gets worst over time and is a big concern for people of the older age group. The wearing down of macula and creating the condition is categorized into dry form and wet form. Both of the forms are dangerous and need medicines. The rising demand for the treatment by the older age group escalates the potential age-related macular degeneration market.


As per the age-related macular degeneration market analysis, the global market contains numerous segments which are pushing its growth forward. Among the segments, there is a type of age-related macular degeneration, which is bifurcated into dry and wet forms. In dry form, people mostly get yellow deposits that dim their vision capacity, and in wet form, blood vessels leak blood to the retina. However, most people witness wet form macular degeneration compared to the dry form as 90 percent of acute blindness happens from the wet form. Therefore, the wet form age-related macular degeneration industry will have the maximum growth in the forecast period.


COVID-19 Analysis


In the coronavirus pandemic, the demand for medical supplies skyrocketed, and the age-related macular degeneration market has seen a substantial rise. Moreover, the off-label medicines for the condition increased globally to serve and fulfill the need of the patients. Even though the countries across the globe went into lockdown and decreased medicine transportation, the immense demand restored the age-related macular degeneration industry value.


There is no doubt that the supply chain got disrupted and manufacturing processes were affected, but the increase in off-label medicines contributed to the drugs shortages. The constant efforts of market players to bring new age-related macular degeneration market trends have also led to the elevation in market growth. In the post-pandemic period, the market will again reach its optimum levels.


Market Dynamics



  • Major Market Drivers


Age-related macular degeneration or AMD is a disease that is happening to the increasing geriatric population, and the numerous cases of the condition are raising the demand for treatment. According to a research article published in 2020, around 170 million people are affected by AMD around the world. In the US, the prevalence of AMD cases is about 11 million. These data show that there is an immense need for medicines for the treatment of the condition, which eventually prompts the expansion of age-related macular degeneration market size.


Moreover, the drugs of several popular brands are going off-patent, which allows several other manufacturers to enhance the efficacy of their existing formulas. This factor drives the growth of the age-related macular degeneration market to greater heights. The expired drug patents also allow a reduction in drug prices, which makes the treatment of age-related macular degeneration more affordable.



  • Significant Growth Opportunities for the Market


According to the age-related macular degeneration market outlook, the rising growth of the older age population and the increasing number of AMD patients will contribute to market growth. The UN report shows that around 703 million people are above 65 years of age in 2019. It has also been predicted that the older age population will double by the end of 2050, reaching 1.5 billion persons. This reflects that the demand for the treatment of AMD is not going to reduce, and the value of the age-related macular degeneration market will surge in the upcoming times.


The key market players are putting much effort into producing better quality solutions, and the strong pipeline will push the market expansion. In addition, the new process of diagnosis and novel treatment methods will uplift the progress of the age-related macular degeneration industry. The US, European and Asian populations will have a major demand due to the improving healthcare framework and government initiatives for better treatment.



  • Market Restraints


The global age-related macular degeneration industry is no doubt having innumerable growth opportunities, but certain restraints can hamper it too. One of such restraints is the high price for the medicines of AMD. The drug treatment can range roughly around USD 1800 to 2000. Moreover, the reimbursement policies and insurance coverage for such drugs are unfavorable. This may lead to restricting the growth of the age-related macular degeneration market share. Even the stringent FDA regulations may restrict the growth of the market.



  • Market Growth Challenges


Proper implementation of age-related macular degeneration treatment can be challenging in many countries of the Middle East and Africa. In such regions, there is limited access to facilities, and healthcare affordability is less among the population. This can hinder the potential age-related macular degeneration market size growth during the forecast period.



  • Cumulative Growth Analysis


As per the age-related macular degeneration market analysis, the market revenue is surging at a rapid pace, and the rising demand will push the market even further in the upcoming times. The value of the age-related macular degeneration industry has exceeded all its historic growth. The market players attempt to bring better solutions and age-related macular degeneration industry trends to overcome the challenges is escalating the market demand.


During the forecast period, the market is presumed to grow at 7.80 percent, and due to its numerous growth opportunities, it will rise even more in the near future.


Segment Overview


The global age-related macular degeneration market is fragmented into stages, type, administration, treatment, age group, and end-user.



  • By Stages:


In this segment, the age-related macular degeneration market is bifurcated into early-stage AMD, intermediate-stage AMD, and late-stage AMD. The intermediate stage of age-related macular degeneration is one of the most common AMD stages and holds the largest market share. It is also anticipated to grow with the fastest CAGR.



  • By Type:


The age-related macular degeneration market segmentation by type includes Wet age-related macular degeneration and dry age-related macular degeneration. In 2017, the dry AMD held a market share of 2092.6 USD million. But the wet AMD will have the highest growth as the majority of acute blindness happens from this type.



  • By Administration:


This age-related macular degeneration market segmentation comprises intravenous route administration and intravitreal route of administration. The most popular one is the intravitreal route of administration which holds the largest market share. It is expected to grow at 7.7 percent.



  • By Treatment:


In the treatment segment, the market consists of diagnosis and treatment. The treatment segment will account for the largest share of the market due to heavy demand.



  • By Age Group:


The market is segmented into people above 75 years, more than 60 years, and people above 40 years of age. Out of all these, individuals above the 75 years of age segment will have maximum growth.



  • By End Users:


This segment comprises sectors like hospitals and clinics, academic research institutes, and diagnostic centers. Due to the rapid increase in need of treatment, the hospitals and clinics segment will have a major market share and will witness a growth rate of 7.6 percent.


Regional Analysis


The global age-related macular degeneration market is studied in various regions such as the Americas, Asia-Pacific, Europe, Middle East, and Africa. The region of the Americas will dominate the global age-related macular degeneration industry share due to the rising aging population and increasing ophthalmological disorders. Europe will have the second-largest market share due to the increasing government initiatives and escalation in the healthcare frame.


In the Asia Pacific region, the increase in healthcare spending, numerous cases of eye disorders, growth of MNCs will push the age-related macular degeneration industry growth in the forecast period.


Competitive Landscape of the Market


The prominent players of the age-related macular degeneration market are:



  • Hoffmann-La Roche AG

  • Bausch & Lomb Incorporate

  • Novartis AG, Pfizer Inc

  • ALLERGAN

  • Acucela Inc.

  • Santen Pharmaceuticals Co.

  • Ophthotech Corporation

  • Alimera Sciences Inc.

  • GlaxoSmithKline PLC

  • Regeneron Pharmaceutical Inc.

  • Bayer AG, Rxi Pharmaceuticals, Inc.


Recent Developments



  • Mosaic Biosciences and Ocular Therapeutix entered into a collaboration in 2021 for developing better treatment for dry age-related macular degeneration.

  • In 2021, Bioeq and Teva Pharmaceuticals announced a commercial partnership to produce ophthalmology drugs.


Report Overview


The age-related macular degeneration market forecast report contains the overall growth aspect of the market, including market valuation. It mentions the market dynamics, including market drivers and restraints. Along with that, it comprises the different segments of the market and key market players. A brief description of the analysis of the market in several regions is also provided. The report includes recent developments to show the progress that happened in the domain.



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 14.98 Billion
  CAGR   8.1%
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Stages, Age Group, Treatment and Route Of Administration
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Novartis AG, Pfizer Inc, F. Hoffmann-La Roche AG, Acucela Inc., Ophthotech Corporation, GlaxoSmithKline PLC, Bayer AG, Rxi Pharmaceuticals, Inc., Regeneron Pharmaceutical Inc., Alimera Sciences Inc., Santen Pharmaceuticals Co., ALLERGAN, and Bausch & Lomb Incorporate.
  Key Market Opportunities   Strong Pipeline
  Key Market Drivers

  • Growing Geriatric Population And Increasing Prevalence Of Age–Related Macular Degeneration
  • Several Branded Drugs Going Off Patent


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    Frequently Asked Questions (FAQ) :

    According to the 2017 statistics suggested by the United Nations, it was estimated that 962 million people aged 60 or above comprise 13% of the global population.

    Key competitors in the age-related macular degeneration market include Alimera Sciences, Rxi Pharmaceuticals, Bausch & Lomb Incorporated, Allergan, Pfizer Inc., Santen Pharmaceuticals and Bayer AG, F.Hoffmann-La Roche AG, Novartis AG, and Regeneron Pharmaceutical Inc.

    The Americas is expected to lead the age-related macular degeneration market during the forecast period.

    The age-related macular degeneration market is predicted to grow at a 8.1% CAGR between 2022-2030.

    Key players have adopted strategies such as partnerships, product launches, collaborations, and mergers to create a footprint in the age-related macular degeneration market.

    The global age-related macular degeneration market is predicted to touch USD 14.98 billion by 2030.

    Age-Related Macular Degeneration (AMD) Market: Competitive Landscape


    The top market players in the global age-related macular degeneration market include F. Hoffmann-La Roche AG, Regeneron Pharmaceutical Inc., Novartis AG, Bayer AG and Santen Pharmaceuticals.



    1. Hoffmann-La Roche AG currently holds around 13% share in the market. The company offers various products in the pharmaceutical, diagnostics, and research industries. Roche is the world pioneer in vitro diagnostics and tissue-based cancer diagnostics and a leader in diabetes management. In October 2016, the company got FDA approval for Lucentis 0.5 mg for the treatment of neovascular (wet) age-related macular degeneration.


    Regeneron Pharmaceutical Inc. held the second position in the market with a share of 9.5% in 2017. Regeneron Pharmaceutical Inc., a biopharmaceutical company, is engaged in discovery, development, manufacturing, and in the commercialization of medicines for serious medical condition treatments, globally. In December 2017, the company announced the FDA acceptance of sBLA filing for 12-week dosing of EYLEA injections for patients with wet age-related macular degeneration. This expanded the company’s product portfolio in eye-related diseases.


    Novartis AG holds the third spot in the pecking order with over 7% share of the market as of 2017. Novartis provides healthcare solutions that improve and extend people’s lives. It also delivers innovative products, exploits global scale, and responds to new opportunities and risks. In April 2018, the company announced a new positive result for brolucizumab (RTH258) facts in Neovascular Age-Related Macular Degeneration (nAMD).


    The other prominent players in the market include Pfizer Inc., Acucela Inc., Ophthotech Corporation, GlaxoSmithKline Plc., Bayer AG, Rxi Pharmaceuticals, Inc., Alimera Sciences Inc., ALLERGAN, Bausch & Lomb Incorporated.