Published: Apr-2021 | Format: PDF | Market Research Store | Number of pages: 177 | Code: MRS - 828582
According to the report published by Market Research Store, global demand for the age related macular degeneration market was estimated at approximately USD 8,300 Million in 2019 and is anticipated to generate revenue of around USD 14,100 Million by end of 2026, growing at a CAGR of around 7.8% between 2020 and 2026.
Global Age Related Macular Degeneration Market: Overview
Macular degeneration, ARMD, or AMD are all terms for age-related macular degeneration. AMD is a retinal condition that causes blurring of central vision, which is essential for tasks such as driving, using a keyboard, watching tv, sewing, and reading that include looking straight ahead. The macula, a portion of the retina that helps you to see fine details, is impaired by AMD. AMD is a progressive eye condition that is painless. It is most common in patients over the age of 50.
Wet macular degeneration and dry macular degeneration are the two types of AMD. The first kind of AMD is the more serious of the two. It induces irregular blood flow progression in the affected region of the macula, impairing retinal vision. Though AMD is linked to aging, the study suggests that the disorder may also have a genetic aspect. Scientists from Duke University and other institutions have discovered a close connection between AMD production and the presence of gene variants such as complement factor H. (CFH). Nearly half of the potentially blinding cases of AMD are diagnosed with CFH gene deficiency. Variants of an additional gene, complement factor B, have been discovered to be active in the production of AMD by researchers at the University of Columbia Medical Center and others. A rare variation of these genes, which plays a crucial role in human immune responses, was discovered in about 74 percent of AMD patients surveyed. There is currently no cure for dry AMD; however, existing treatments may help to prolong the onset of vision loss and wet AMD.
Global Age Related Macular Degeneration Market: Growth Factors
Over the projected period, the demand for age-related macular degeneration is predicted to be driven by an increase in the geriatric population. According to the World Population Prospects report from 2017, the global population over 60 years old was 962 million, with a projected increase to about 2.1 billion by 2050. Globally, the population of people aged 60 and over is growing at a higher rate than all other age classes. This population is particularly vulnerable to age-related diseases such as diabetes, renal insufficiency, asthma, and macular degeneration. People between the ages of 50 and 59 have a 2% chance of developing advanced age-related macular degeneration, while those above the age of 75 have a 30% chance. Furthermore, over the projected period, the rising prevalence of age-related macular degeneration is anticipated to accelerate growth. As per the BrightFocus Foundation in January 2019, macular degeneration is the main cause of blindness in the U.S. population over 60 years old, with about 11 million people affected, with the number projected to double to almost 22 million by 2050.
Global Age Related Macular Degeneration Market: Segmentation
Age related macular degeneration market is segmented in terms of product type, drug type, route of administration, age group type, and end-user. Based on the product type, the market is divided into dry AMD and wet AMD. Wet AMD is caused by premature growth of blood vessels under the macula, while dry AMD is caused by the development of deposits called under the retina. Wet AMD has a greater market share than dry AMD due to the higher incidence of wet AMD in the geriatric community. The growing geriatric population around the world is driving up demand for wet macular degeneration treatments. According to a survey by the World Health Organization (WHO), the number of elderly people (those aged 60 and up) is predicted to rise to 21.1 percent by 2050. In 2050, the global population of elderly people is expected to exceed 2 billion. Both of these figures indicate that there will be a strong need for drugs to combat wet macular degeneration in the future. The demand is growing due to technical advances in macular degeneration care and adequate payment conditions. Based on the route of administration, the market is split into intravitreal and intravenous. The intravitreal segment is anticipated to gain market share because targeted drug distribution makes it more competitive. In addition, the majority of anti-VEGF injections are given intravitreal or intraocularly. On the basis of end-user analysis, the market is bifurcated into hospitals & clinics, academic research institutes, and diagnostic centers. In terms of revenue, the most common end-user category is hospitals and clinics. This is due to increased exposure to global trends, increasing disposable incomes, and changing lifestyles, which are among the common reasons for an increase in the number of visits to these institutes, as well as the number of procedures performed. The needed procedures are performed in a sterile environment and do not necessitate a long time of waiting or recovery. Based on age group type, the market is divided between 40 - 50 years, between 50 - 60 years, between 60 - 70 years, and above 70 years. The global population over 60 years old was 962 million in 2017, according to World Population Prospects, and is projected to hit around 2.1 billion by 2050. Globally, the population of people aged 60 and over is growing at a higher rate than all other age classes. This population is particularly vulnerable to age-related diseases such as diabetes, renal insufficiency, asthma, and macular degeneration. People between the ages of 50 and 59 have a 2% chance of developing advanced age-related macular degeneration, while those above the age of 75 have a 30% chance.
Global Age Related Macular Degeneration Market: Regional Analysis
In North America, the aesthetic equipment industry has evolved rapidly over the last two decades. Technological advancements in devices, growing knowledge of cosmetic procedures, rising acceptance of minimally invasive devices, and an increase in the obese population in the area are all projected to positively impact the studied market's development. There were 18.1 million cosmetic operations performed in 2019, up 2% from 2018, including 1.8 million cosmetic surgical procedures and 16.3 million cosmetic minimally medical interventions, according to the data shared by the American Society of Plastic Surgeons. In addition, the region's high concentration of global players, as well as subsequent product releases, play an important role in the region's market development. For example, Essence Group's E.S.I. company, released JOLI360, a revolutionary facial rejuvenation treatment that can calculate three skin factors: hydration, elasticity, and sebum, in June 2020. As a result, the above factors are projected to fuel the demand in North America over the forecast period.
Global Age Related Macular Degeneration Market: Competitive Players
The major players dominating the global age related macular degeneration market in terms of revenue and development are Valeant Pharmaceuticals International, Inc., Novartis International AG, Ophthotech Corporation, Pfizer Inc., Kubota Pharmaceutical Holdings Co. Ltd, Bayer AG, Adverum Biotechnologies, Inc., Regeneron Pharmaceuticals, Inc., Amgen Inc., Gilead Sciences Inc., Apellis Pharmeceuticals, Inc., F. Hoffmann-La Roche Ltd., Bausch Health Companies Inc., Neurotech Pharmaceuticals Inc., and Alimera Sciences Inc., and Others. These international companies have used a number of tactics to create a credible presence in the global economy, including purchasing relationships, shares, arrangements, collaborations, joint ventures, new product launches, revenues, and mergers and acquisitions. In July 2017, Ophthotech Corporation announced that it would develop treatments for a number of orphan ophthalmic diseases based on clinical practice and retina expertise. In December 2016, EyeMedics, LLC and Acucela agreed to collaborate on research and development. In September 2017, F. Hoffmann-La Roche AG announced the first lampalizumab phase III trial for geographic atrophy caused by AMD.
Age Related Macular Degeneration Market: Regional Segment Analysis
Age Related Macular Degeneration
Age Related Macular Degeneration