Age-Related Macular Degeneration to Witness 8.3% CAGR in between 2018 and 2023

Pune, India, June, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Age-Related Macular Degeneration (AMD) Market Research Report.

The high incidence rate of age-related macular degeneration has been observed because of a substantial uptick in global geriatric population. The disease causes significant loss of central vision and is also commonly referenced to as the cause for blindness. With the advancement of age, a rise in pleomorphism because of retinal pigment epithelial cells is witnessed along with a decrease in the concentration of cells in the posterior pole, and drop of melanin content in the eyes which causes macular degeneration.

The market is foreseen to reach USD 2214.82 million in revenue, exhibiting an 8.3 percent CAGR approximately in the forecast period by 2023. Mounting geriatric population, escalating prevalence of age-related macular degeneration and a few of the best-selling drugs going off-patent are the chief factors fuelling the development of the market across the globe. Frequency and commonness of the condition is expected to intensify as the population ages get more varied in the forthcoming period. Early AMD symptoms have been found in young adults under the age of 30 years by specific studies into the condition. Lifestyle and metabolic factors are among the common factors attributed to the increase in the cases of age-related macular degeneration outside of the established age group.

The older adults segment is considerably boosting the progress of the market as it pushes the demand for new, and advanced therapeutic and diagnostic products of higher accuracy further. The patent of some popular branded drugs expiring in the coming years will encourage other manufacturers to introduce drugs of higher efficacy, thereby increasing market share substantially. Furthermore, the increase of new drugs being launched in the market will enhance the age-related macular degeneration market shortly.

Segmental Analysis

The age-related macular degeneration market is segmented on the basis of route of administration, type, age group, diagnosis & treatment, end-user, and stages. The route of administration basis of segmentation of the market comprises of intravenous, intravitreal, and others. The basis of segmentation on types consists of dry age-related macular degeneration (dry AMD)/non-neovascular and wet age-related macular degeneration (wet AMD)/neovascular. On the basis of age group, the market segmentation includes >40 years, >75 years and >60 years. The diagnosis & treatment basis of market segmentation consists of dry AMD treatment and wet AMD treatment. The wet AMD Treatment market comprises of laser surgery, photodynamic therapy, anti-vascular endothelial growth factor (VEGF), among others. The dry AMD Treatment market consists of telescopic lens implant and nutrition therapy. The diagnosis market is segmented into fluorescein angiogram, optical coherence tomography, preliminary test, and others. The end user segment of the market comprises of diagnostic centers, hospitals & clinics, academic research institutes, and others. On the basis of stages, segmentation of the market includes early age-related macular degeneration (AMD), Intermediate age-related macular degeneration (AMD), and late age-related macular degeneration (AMD).

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Detailed

Regional Analysis

The region-based analysis of the market covers Americas, Europe, Middle East, Asia Pacific and Africa. The Americas region is projected to dominate the global age-related macular degeneration market owing to the mounting level of ophthalmological disorders and growth in the aging population. Furthermore, the growing government initiatives and financial backing are motivating the advance of age-related macular degeneration market in the North America region. The European region holds the second important market due to the expanding demand for technologically innovative treatments which are fuelling the development of age-related macular degeneration market in the European region. The Asia Pacific is a swiftly growing market for the age-related macular degeneration as it is developing at a very speedy pace and is also graced with the appearance of many competitors. Furthermore, the intensifying occurrences of eye disorders, growing healthcare expenditure and the entry of multinational companies in developing economies to establish operational set-ups are likely to motivate the growth of the market. Additionally, India and China are the chief backers to the market’s development because of the rapid development of the healthcare infrastructure in these regions and growing demand for better healthcare services.

Competitive Analysis

The main trends have created a positive tone for market’s development. By safeguarding supply and demand, the competitors can capture new opportunities for growth. Santen Pharmaceuticals, F. Hoffmann-La Roche AG, Novartis AG, Bayer AG, Regeneron Pharmaceutical Inc., and others are a few of the significant competitors in this market.