Renub Research has recently published a report titled” Age-Related Macular Degeneration Market Size, Forecast 2023-2028, Global Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” providing a comprehensive analysis of the industry that includes market share insights. In addition, the report comprises competitor and regional research and contemporary extension in the Age-Related Macular Degeneration (AMD) Market. Age-Related Macular Degeneration (AMD) Market is estimated to reach US$ 14.06 Billion by 2028.
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The Age-Related Macular Degeneration market is experiencing notable expansion in recent decade. AMD, a chronic eye condition affecting the retina’s central region, progressively impairs vision. The surging prevalence of AMD, particularly among the elderly demographic, constitutes a key growth catalyst. As the global population ages, AMD incidence is projected to escalate, generating higher demand for efficacious treatment options. Technological advancements in diagnostics and therapies have also fueled the market’s growth. Advanced imaging techniques and innovative treatments like anti-vascular endothelial growth factor (VEGF) drugs have revolutionized AMD management, facilitating early detection, precise monitoring, and targeted interventions, ultimately enhancing patient outcomes. Increased awareness regarding AMD and the significance of routine eye examinations have led to higher diagnosis rates.
Educational campaigns and initiatives undertaken by healthcare organizations and advocacy groups have significantly raised awareness, enabling early intervention and timely management of AMD. Government support and favourable reimbursement policies for AMD treatments have further strengthened the market. Accessible insurance coverage for diagnostic tests and therapies has improved patient access to effective treatments, further propelling market growth. Given the rising AMD prevalence, technological advancements, growing awareness, and supportive healthcare policies, the Age-Related Macular Degeneration market is positioned for substantial expansion.
The introduction of new and effective treatment options for dry AMD is anticipated to drive market growth
The market growth of dry age-related macular degeneration (AMD) is expected to be supported by an increase in pipeline drugs targeting this condition. Dry AMD, a progressive eye disease that causes the deterioration of the macula, is the most common form of AMD. Currently, there are limited treatment options available for dry AMD, and the development of novel drugs holds significant potential for addressing this unmet medical need.
The emergence of pipeline drugs specifically designed to target dry AMD presents an encouraging outlook for the market. These drugs aim to address the underlying mechanisms and pathways involved in the progression of dry AMD, such as inflammation, oxidative stress, and the accumulation of drusen. By targeting these key factors, these pipeline drugs have the potential to slow down or halt the progression of the disease, preserving vision and improving patient outcomes.
Type – Age-Related Macular Degeneration Market breakup from 2 Viewpoints:
- Wet AMD
- Dry AMD
Patent protection offers a favourable environment for sustained growth in the forecast period, positioning Beovu as a key player in the market for wet AMD treatments.
Beovu is expected to exhibit the highest growth rate during the forecast period primarily due to its patent protection. Beovu is a medication used for the treatment of various retinal diseases, including wet age-related macular degeneration (AMD). Patent protection grants exclusivity to the manufacturer, preventing generic competitors from entering the market and offering alternative versions of the drug. With its patent protection, Beovu enjoys a competitive advantage, allowing it to maintain a strong market position and capture a significant share. This exclusivity provides the manufacturer with a certain level of market control, enabling them to set pricing strategies and maximize profitability.
The anticipated growth of Beovu can be attributed to the sustained demand for effective treatments for wet AMD and other retinal diseases. As Beovu demonstrates favourable clinical outcomes and gains recognition within the medical community, it is expected to witness increased adoption by healthcare professionals and patients alike.
Product – Age-Related Macular DegenerationMarket breakup from 4 Viewpoints
Indispensability of hospitals in the AMD treatment market stems from their comprehensive services, strategic partnerships, and direct patient access, which are vital for achieving market success
Hospitals play a vital role as the primary and dominant channel for the distribution of healthcare products, including treatments for age-related macular degeneration. Their comprehensive infrastructure and facilities, along with established partnerships with pharmaceutical companies, enable hospitals to efficiently distribute specialized medications and therapies for AMD. Additionally, hospitals serve as referral centers for ophthalmologists and retina specialists, providing direct access to the target patient population. While hospitals dominate the distribution channel, other channels like specialty clinics and retail pharmacies may also contribute depending on regional market dynamics and healthcare infrastructure.
Distribution Chanel – Age-Related Macular Degeneration Market breakup from 3 viewpoints:
- Hospital Pharmacy
- Specialty Pharmacy
- Online Pharmacy
Growing elderly population and a robust healthcare ecosystem positions North America at the forefront of the AMD industry
North America has established itself as the industry leader, primarily due to the continuous growth of the geriatric population. With an aging demographic, the region faces a higher prevalence of age-related conditions and diseases, including age-related macular degeneration. This demographic trend creates a significant market demand for AMD treatments and related healthcare services. Additionally, North America boasts advanced healthcare infrastructure, research facilities, and a strong pharmaceutical industry, enabling it to drive innovation and develop cutting-edge therapies for AMD.
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Region – Age-Related Macular Degeneration Market breakup of 5 Regions
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The Age-related Macular Degeneration market is witnessing strong competition among prominent companies, including F. Hoffman – La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences. These companies have established themselves as key players in the market, offering innovative treatments and therapies for AMD. Their research and development efforts, strategic collaborations, and extensive product portfolios contribute to their competitive advantage. By continuously striving to develop new and improved solutions, these companies aim to meet the growing demand for effective AMD treatments and enhance patient outcomes.
The company has been covered from 3 Viewpoints:
- Recent Development
- F. Hoffman – La Roche Ltd.
- Bayer AG
- GSK Plc.,
- Novartis AG,
- Regeneron Pharmaceuticals
- Bausch Health Companies
- Alimera Sciences Inc
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