Age-Related Macular Degeneration (AMD) Market to see significant rise in next Few years
Posted: Oct 27, 2018
Age-related macular degeneration (AMD) is any eye condition that effects the central part of retina called macula. AMD causes changes in the macula, that leads to problem to the central vision. The person suffering from AMD cannot find points of interest, regardless the distance. Also, AMD affects the vision that a person uses for looking straight at something. The cause for AMD is not known. But factors like age, smoking, gender, and genes can develop AGM. Macular health of individuals is ability to read, identify, recognise faces and immaculate visual details. There are two types of AMD namely wet AMD and dry AMD. Dry AMD is the most common type of AMD, it develops very slowly and gradually and does not lead to total blindness. While wet AMD, is found in only 10-15% of individuals. In this type of AMD develops quickly and rapidly that creates vision loss in one or both eyes. Unfortunately, there is no way for treating dry AMD. However, various number of vitamin products available which have been designed for people suffering for dry AMD.
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Significant technology advanced healthcare sector and improved diagnostic facility globally to boost the age-related macular degeneration (AMD) market.
The global age-related macular degeneration market is primarily driven by the factors such as increasing reimbursement benefits for AMD drugs, surge in the eye related disorders, and rise in the geriatric population. According to National Institute of Health (NIH), surge in the geriatric population is due to increasing life expectancy globally. By 2050, the life expectancy globally would reach to 76.2 years. Moreover, continuous research & development of combination therapies are being found as an effective therapy for the treatment of AMD. For instance, the combination therapies include Visudyne with PDT has been used by the individuals for treating AMD. Additionally, growing diagnosis rate for eye related disorder would also propel the market.
However, increasing use of local drugs for treating AMD, and growing use of off-label therapies will hinder the market growth during the forecast period.
Global Age-related Macular Degeneration (AMD) Market Taxonomy
The global age-related macular degeneration market is segmented on the basis of technology, drug type, product type, route of administration, and geography.
- By Drug Type
- By Product Type
- Wet AMD
- Dry AMD
- By Route of Administration
Geographically, the global Age-related Macular Degeneration (AMD) market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Rising elderly population to lead the global Age-related Macular Degeneration (AMD) market in North America.
On the basis of geography, North America is expected to dominate the global age-related macular degeneration (AMD) market over forecast period. The primary factors influencing growth of AMD market in this region are increasing elderly population in North America, high availability of patients, and various non-administrative policies will positively influence the market of North Americas during the forecast period. While, Europe holds the second largest share for the market owning to the increasing geriatric population, and high diagnosis rate for diagnosing eye related disorders. The geriatric population in Europe is mainly attributed to the increased life expectancy, and improved medical infrastructure for treating various diseases.
However, Asia Pacific is expected to dominate the market in the forecast period. Increasing awareness for patients affected with AMD, increasing geriatric population, and developing predominance for vision impedance.
Key players in the global Age-related Macular Degeneration (AMD) market are:
- Bayer Healthcare AG.
- Hoffman-La Roche.
- Novartis AG.
- Regeneron Pharmaceuticals
- Allergan Inc.
- Advedrum Biotechnology
- Bausch + Lomb
- Gilead Sciences
- Iconic Therapeutics
- Neurotech Pharmaceuticals
- Ohr Pharmaceuticals
- Pfizer Inc.
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.