It was mentioned in one of its reports by P&S Intelligence, that the revenue generated by age-related macular degeneration market will reach a value of USD 18,500 million by 2030, powering at a rate of 6.8% in the years to come.
The industry growth has a lot to do with the growing cases of age-related eye ailments, the growing elderly population around the world, and the increasing investments in research and development activities.
Furthermore, the market is powered by the increasing prevalence of this ailment, the introduction of advanced treatments, a strong product pipeline, and continuous developments in gene therapies.
The wet AMD category had the major revenue share in the past. This condition is treated with IVT, with about 22.3 million processes executed around the globe in the past.
Likewise, around 75% of anti-VEGF injections were managed for the wet AMD treatment. Furthermore, branded medications, the high incidence of this ailment, a surge in the treatment count, and growth in consciousness contributed to the growth of the market in this category.
While, the dry AMD will grow the fastest in the coming years. This is because of the projected introduction of proficient product candidates by 2023 and the increasing burden of this ailment.
Furthermore, 85–90% of all macular degeneration cases are brought about by dry AMD. Presently, the sole treatment for dry macular degeneration is the formulation of vitamins.
Hospital pharmacies category accounted for a major share in the past. This is because of the increase in the occurrence of AMD and the augmented count of patients in hospitals for treatment.
As stated by RNIB, about 26.5 million people, in 2021, had a high risk of succumbing to this this condition. Most patients are managed with drugs, for example Eylea.
The most prevalent reason for permanent loss of vision is macular degeneration. Numerous initiatives, for example activities, programs, and campaigns, are executed by NGOs, optometrist associations, and departments of health, for creating consciousness amongst people with regards to the effects of AMD and the precise treatment methods.
North America dominated the age-related macular degeneration market with a share of around 51.1%, and it will also be the dominant force in the next few years as well. Some of the main factors powering the industry are the snowballing burden of the elderly populace, the increasing incidence of this ailment, the existence of stalwarts of the market, and the growing R&D activities in the region.
The increasing number of age-related disorders associated with eye will have a positive impact on the demand for the treatment for age-related macular degeneration treatments all over the world.