Age Related Macular Degeneration Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the age-related macular degeneration market was valued at USD 10.9 billion in 2022, and a CAGR of 6.5% is expected during the forecast period. Age-related macular degeneration is a common eye disease that can cause blurred vision or no vision in the center of your field of vision. It’s the leading cause of vision loss in adults over 50. It occurs when aging damages, the macula.

In the advanced stage of this disease, people lose the ability to drive vehicles, recognize faces, and read smaller print. It has no signs or symptoms. With a global aging population, the chances of the occurrence of this disease are high. Advances in diagnostic techniques, such as imaging technology, and treatment options improve outcomes and expand market opportunities.

Growth Drivers

Increasing awareness among patients and healthcare providers about early detection and treatment options leads to earlier intervention and better management of AMD. Increased healthcare spending, especially in developed regions, supports the adoption of advanced AMD treatments and therapies. Ongoing research and development efforts to develop new therapies and drugs for AMD contribute to market growth and innovation. Favorable regulatory policies and approval for new treatment facilities are driving market expansion.

Rising healthcare expenditure and increasing awareness of diseases are driving the growth of the market significantly. Increasing disposable income and urbanization are driving growth in the disease market. Rising healthcare expenditures and government initiatives to offer free eye camps to make people more aware of eye diseases.

Segmentation

Disease Type

·         Dry AMD

·         Wet AMD

Age Group

·         Less than 60

·         In between 60-80

·         More than 80.

Gender

·         Male

·         Female

Stage Based

·         Early Stage

·         Intermediate Stage

·         Late Stage

Distribution Channel

·         Hospital Pharmacy

·         Specialty Pharmacy

·         Online Pharmacy

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Age Related Macular Degeneration Market Distribution Channel Segmentation

On the basis of the distribution channel market, the age-related macular degeneration treatment market is segmented into hospitals, special pharmacies, and online pharmacies. Hospitals are the leading segment in the age-related macular degeneration market and are expected to dominate during the forecast period. AMD often requires specialized medications that are typically administered intravitreally. These drugs are expensive and require careful handling and administration. Hospitals are well-equipped to manage these drugs.

Hospitals are blessed with all these above-mentioned facilities. They usually have advanced diagnostic equipment, like OCT, and skilled ophthalmologists who accurately diagnose AMD and administer treatment. Hospitals provide comprehensive patient care and monitoring services, crucial for managing chronic conditions like AMD. This includes follow-up appointments, monitoring for treatment effectiveness, and managing potential complications. Hospitals often participate in clinical trials and research studies for new AMD treatments. Hospitals foster collaboration among various specialists, which enhances the quality of care for AMD patients.

Age Related Macular Degeneration Market by Type Segmentation

On the basis of type, the age-related macular degeneration market is segmented into dry AMD and wet AMD. Wet AMD is the leading segment in the market and is expected to dominate the market during the forecast period significantly. Wet AMD requires more intensive and immediate treatment compared to dry AMD. Due to the urgent need for the treatment and the higher costs associated with anti-VEGF therapies, the market size for wet AMD treatment is often larger than that for dry AMD.

Pharmaceutical companies and research institutes often prioritize developing treatments for wet AMD due to its impact on vision and quality of life, leading to a more robust pipeline of drugs targeting this form of AMD. Dry AMD progresses more slowly and currently lacks effective treatment. Rising healthcare expenditure and increasing demand from the people to get the best treatment are the key factors behind the significant growth in the market. Rising disposable income all over the world and an increasing number of hospitals having the facilities to treat wet AMD patients efficiently are driving the growth of the market.

Regional Outlook

On the basis of the regions, the market is segmented into North America, Asia Pacific, Europe, and the Middle East and Africa. North America is the leading segment due to increasing geriatric population, better healthcare infrastructure, and rising healthcare expenditure on opening hospitals and eye-care centers. The United States of America is the hub for medical disease treatment. People over there are educated and smart enough to go for the treatment of these diseases significantly. Asia-Pacific is second to North America.

Due to a rapidly growing population and increasing disposable income, in emerging countries like China and India, people are finding better treatment in the market. Increasing industrialization is driving growth in the market. With the presence of key players in Asia Pacific and North America, the region is witnessing significant growth in the market. North America holds a significant share due to its advanced healthcare infrastructure, high healthcare expenditure, and early adoption of novel therapies. The region benefits from cutting-edge diagnostic technologies and therapies that support early detection of disease. Europe, including countries like Germany, France, Italy, the United Kingdom, Sweden, and Denmark, is witnessing significant growth in the market. Differences between Western and Eastern Europe due to a well-developed healthcare system experiencing rapid growth in healthcare infrastructure.

Active research and development activities and clinical trials contribute to the new AMD treatment across the region. Countries like China, Japan, and India are big markets in the Asia-Pacific region, and varied healthcare access and regulatory environments across the countries are driving the market towards a big success. The Middle East and Latin America are witnessing moderate growth during the forecast period. The presence of key players in North America and Europe is the key reason behind the significant growth in these markets. Increasing health awareness among people and rising disposable income are the key factors behind the significant growth in the market. Hospital pharmacies are playing a key role.

 Key Players

·         Bayer AG

·         Novartis AG

·         Pfizer Inc.

·         F.Hoffman La Roche Ltd.

·         Regeneron Pharmaceuticals Inc.

·         Bausch Health Companies Inc.

·         AbbVie

·         Opthea Limited

·         Graybug Vision

·         Ribomic Usa Inc

·         Outlook Therapeutics Inc.

·         Unity Biotechnology, Inc.

·         Other Players