Age-Related Macular Degeneration Treatment Market is Expected to Reach $11.46 bn by 2026
The Age-Related Macular Degeneration Treatment Market was valued at US $6.72 billion in the year 2018 and is estimated to reach US $11.46 billion by 2026, at a CAGR of 6.90%.
Age-related Macular Degeneration is a condition results in blurred or no vision in the center of the visual field due to damage in the retinal macula. There are two types of macular degeneration namely dry macular degeneration and wet macular degeneration. The former is characterized with loss of central vision due to thinning of parts of the macula associated with age whereas the latter develops tiny clumps of protein in the macula along with leakage of blood or other fluid from new, abnormal blood vessels under the retina. Risk factors of age-related macular degeneration are smoking, overweight, hypertension, high cholesterol levels and heart disease.
According to pooled study analysis there is 8.69% global prevalence of age-related macular degeneration and it accounts for 8·7% of all blindness worldwide. There is a higher prevalence of age-related macular degeneration in Europeans and North Americans than in Asians and Africans. There is an increased risk of age-related macular degeneration from 2% among ages 50-59 and to nearly 30% for those over the age of 75.
According to WHO, age-related macular degeneration (AMD) ranks third among the global causes of visual impairment with a blindness prevalence of 8.7% and primary cause for loss of vision in developed countries. Age-related macular degeneration affects approximately 142 million people and about 105 million people are affected by diabetic eye disease worldwide.
The key market drivers for age-related macular degeneration treatment market include growing aging population, increase in diabetes prevalence and related complications and long-term duration of treatment. High treatment cost, adverse effects, poor compliance and a smaller number of approved drugs are major market restraints for the age-related macular degeneration treatment market.
Treatment adherence and lack of awareness of age-related macular degeneration, development of promising new treatment strategies and early diagnosis are the major challenges. Investment in R&D and developing minimally invasive advanced treatment options might impact the market growth positively in the forecast period. According to Centers for Disease Control & Prevention, combination of vitamin C, vitamin E, zinc, copper & β-carotene consumption in early stages can reduce 25% risk of late Age-related Macular Degeneration.
Major companies for Age-related macular degeneration treatment market include Novartis AG, Hoffmann-La Roche Ltd., Regeneron Pharmaceuticals, Inc., Pfizer Inc. Bayer AG and Asclepix Therapeutics. According to clinicaltrials.gov, there are around 243 active interventional trials for the treatment of Age-related macular degeneration at present.
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- Asclepix Therapeutics, Inc. is developing AXT107 focusing for the treatment of Macular Edema and Age-related Macular Degeneration
- REGENXBIO reported positive interim update from RGX-314 Phase I/IIa trial for wet AMD and Macular Edema
- Novartis announced positive opinion from Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for Beovu (RTH258) an investigational product for the treatment of wet age-related macular degeneration (AMD)
- Alkahest, Inc. initiated phase II clinical trial of AKST4290 on choroidal blood flow (ChBF) in patients with neovascular age-related macular degeneration (AMD).
- Aerie Pharmaceuticals, Inc is initiating first-in-human clinical trial of AR-13503 sustained release intravitreal implant in patients with neovascular age-related macular degeneration and diabetic macular edema
Age Related Macular Degeneration Treatment Market Based on Treatment Class (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Anti-Vascular Endothelial Growth Factor (VEGF) Injections
- Laser photocoagulation, Photodynamic therapy (PDT)
Age Related Macular Degeneration Treatment Market Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Age-Related Macular Degeneration Treatment Market, 2015 to 2017
- Forecast of the Age-Related Macular Degeneration Treatment Market Growth till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Age-Related Macular Degeneration Treatment Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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