Published: March 2016
Report Code: LS10628
Category : Pharmaceuticals
The global age-related macular degeneration market accounted for revenue of $5,335.7 million in 2015, and it is expected to grow at a CAGR of 7.6% during 2016 - 2022. Among the various types, the wet AMD segment is expected to witness the faster growth during the forecast period. The global age-related macular degeneration market is growing at a significant rate, due to growing geriatric population, and increasing prevalence of age-related macular degeneration. In addition, increasing prevalence of lifestyle associated diseases such as obesity and hypertension, increasing healthcare expenditure and increasing pipeline drugs for AMD are also driving the growth of the global age-related macular degeneration market.
GLOBAL AGE-RELATED MACULAR DEGENERATION (AMD) MARKET SIZE BY DRUG $M-2012-2022
Age-related macular degeneration (AMD) is an acquired retinal disorder indicated by fundus changes. It is one of the most common forms of visual impairment in the geriatric population. It is a deterioration or degeneration of macular, leading to vision loss among people aged 60 years and above. The macula is a small part of retina responsible of sharpness and central vision.
AMD is mainly of two types – dry and wet AMD. Dry AMD is caused due to formation of deposits called drusen under the retina; whereas, wet AMD is caused due to abnormal growth of the blood vessels from the choroid beneath the macula. Most of the patients suffer from dry AMD; however, the dry form of AMD may lead to wet form AMD.
The restraints associated with the growth of the global age-related macular degeneration market include stringent regulatory requirements and increase in off label use. The increasing awareness of AMD is the key trend observed in the global age-related macular degeneration market.
Geographically, North America is expected to maintain dominance in the global market of age-related macular degeneration during 2016 - 2022. This is due to increasing prevalence of hypertension and obesity and increased healthcare spending. In addition, increasing awareness of AMD and increasing pipeline products of AMD, and higher drug treatment rate is also supporting the growth of the age-related macular degeneration market in North America. The North American AMD market is witnessing rapid increase due to increase in geriatric population, which started witnessing more demand for treatment. According to the UN publication, “World Population Ageing 2013”, in 2013, approximately 70,571,000 people were aged 60 years or above in North America, which accounted for 19.9% share of its total population.
The European age-related macular degeneration market is growing, mainly due to growing aging population, increasing prevalence of lifestyle associated disease, and increasing healthcare cost. However, the Asia-Pacific market of age-related macular degeneration is expected to witness the highest growth globally, during the forecast period. This is due to growing geriatric population and upsurge in the occurrence rate of different AMD. Additionally, increasing healthcare spending and increasing prevalence of lifestyle associated diseases are driving the growth of the market in the region.
Some of the key companies operating in the global age-related macular degeneration market include Novartis AG, F. Hoffmann-La Roche Ltd., Bayer AG, Regeneron Pharmaceutical, Inc., Acucela, Ophthotech Corporation, Neurotech Pharmaceuticals, Inc., GlaxoSmithKline plc, StemCells Inc and Alimera Sciences, Inc.