Dry Age-Related Macular Degeneration Market
This degenerative eye disease is caused by the thinning of the macula and interferes with a clear vision in the elderly. The macula is part of the retina that facilitates clear vision; when this part of the eye deteriorates, it causes blurred or distorted vision. But this does not mean that the individual will lose his or her sight, only the central vision is affected by this degenerative disease, and the peripheral vision remains intact. Vision loss is slow and can be corrected using innovative ocular treatments. It has been estimated that the Dry Age-Related Macular Degeneration Market Growth has seen a jump due to increased research in drugs, rising amount of COVID-19 cases among the old and age-restricted chronic diseases.
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Dry Age-Related Macular Degeneration Market Size
AMD has projected a rise from $ 1.58 billion in 2020 to $ 2.64 billion in 2026. The CAGR rate is expected to grow exponentially between 2021 to 2018 – 8.93%.
Dry Age-Related Macular Degeneration Market Share
It has been reported by the American Academy of Ophthalmology that about 11 million people over the age of fifty experience blindness as a result of AMD. Hence making it a supple market for AMD related treatments. Obesity-related macular degeneration is also on the rise in North America, along with high blood pressure from an erratic lifestyle.
Advances in research and development in Europe and Asia-Pacific have enabled more patients to see more clearly. The African continent, particularly the Sahara subcontinent, has experienced a significant increase in dry age-related macular degeneration due to lack of vitamin A and poor dietary standards. Thus making this region the key player for pharmaceutical companies to invest in.
The key companies that are invested into creating feasible solutions for AMD are Pfizer, Bayer AG, Regenron Pharmaceutical Inc., GlaxoSmithKline plc, and Novartis AG.
Dry Age-Related Macular Degeneration Market Growth
The AMD market is led by dry and wet drug solutions that treat this degenerative disease. Wet age-related AMD will soon see a jump of 95% in the year 2022. After the impact of COVID-19, it has been observed that wet macular degeneration has affected most of the ageing population. In this type, there is an atypical growth of blood vessels beneath the retina, causing it to bleed create vision obstruction. Developed countries have introduced intraocular anti-VEGF injections for patients suffering from wet AMD, thus increasing treatment capacity globally.
In recent years, Stargardt disease, a genetically inherited retinal disorder that has become dominant among the younger population, has given impetus for research towards macular degeneration drugs.
Lucentis, Avastin, Eylea and Visudyne are some of the prominent drugs available in the market to treat dry age-related macular degeneration. The Lucentis market has grown rapidly in developed countries since the government introduced healthcare benefits for the elderly through affordable treatments.
Dry Age-Related Macular Degeneration Market Value
It has been noted that off-label drugs are getting more popular due to their affordability than on-label drugs to treat AMD. An off-label drug like Avastin is sold rapidly in the market for patients who can get treated within their income budget.
On a case-by-case basis, the market is segmented into intravenous and intravitreous. It is said that the intravitreal segment dominates the market because it is most effective because of the targeted distribution of drugs. Furthermore, the majority of anti-VEGF injections are given intravitreally or intraocular.
List of Key Companies Covered in this report:
Santen Pharmaceuticals Inc. (Japan), Allergan plc (Ireland), Bausch Health (Canada), Alimera Science Inc. (US), Phio Pharmaceuticals Corp (US), Ocumension Therapeutics Co. Ltd (China), Belite Bio Inc. (US), Kubota Vision Inc. (US), Iveric Bio (US), Eyestem Research Pvt Ltd (India), Yuyang DNU Co., Ltd (South Korea), Stealth Biotherapeutics Inc. (US)
· Recent data released by the World Bank statistics indicate that the older generation living above 65% is rising. They represent approximately 8.873% of the population, indicating that patients with AMD will increase due to chronic diseases and diseases.
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