The Dry Age-Related Macular Degeneration Market Size was valued at USD 12.03 Billion in 2023 and is anticipated to reach a staggering USD 22.64 Billion by 2031. This translates to a robust compound annual growth rate (CAGR) of 8.22% throughout the forecast period. Fueled by a burgeoning geriatric population and the development of innovative treatment modalities, the Dry Age-Related Macular Degeneration Market is poised for significant growth in the coming years.
The market expansion is primarily driven by the rising prevalence of age-related macular degeneration (AMD) coupled with an aging global population. According to the World Health Organization (WHO), around 196 million people were afflicted with AMD globally in 2020, with over 10.4 million experiencing moderate-to-severe vision impairment. Additionally, the United Nations Department of Economic and Social Affairs projects a significant increase in the geriatric population, with those aged 65 and above expected to reach a staggering 2 billion by 2050.
Currently, treatment options for AMD are limited, with anti-VEGF drugs being the mainstay. However, these drugs necessitate frequent and inconvenient intraocular injections, leading to patient non-adherence. To address this challenge, pharmaceutical companies are actively developing longer-acting anti-VEGFs and sustained-release drug delivery systems, paving the way for improved patient compliance and market growth.
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List of Dry Age-Related Macular Degeneration Companies Profiled in Report:
- Santen Pharmaceuticals Inc.
- Ocumension Therapeutics Co. Ltd
- Iveric Bio
- Eyestem Research Pvt Ltd
- Allergan plc
- Bausch Health
- Belite Bio Inc.
- Kubota Vision Inc.
- Alimera Science Inc.
- Phio Pharmaceuticals Corp
- Yuyang DNU Co. Ltd
- Stealth Biotherapeutics Inc
(To view Full list of companies, Ask for Sample Report)
Ageing Population, Rising Healthcare Spending, and Treatment Advancements Drive Growth in Dry Age-Related Macular Degeneration Market
The dry age-related macular degeneration market is experiencing a confluence of factors propelling its growth. The burgeoning geriatric population, as highlighted earlier, is a key driver. With age comes an increased risk of vision problems, including AMD. Additionally, rising healthcare expenditure globally fosters a more conducive environment for market expansion. According to the World Health Organization, global health spending witnessed a 6% increase in low-and-middle-income countries and a 4% rise in high-income countries in February 2019. This trend signifies a growing focus on healthcare investments, potentially benefiting the dry AMD market.
Furthermore, advancements in treatment options are transforming the landscape. The limitations associated with traditional anti-VEGF drugs are being addressed through the development of longer-acting formulations and innovative delivery systems. These advancements hold immense promise for improved patient outcomes and market growth.
Recent Developments
In November 2022, IVERIC bio advanced the development of its investigational C5 inhibitor, avacincaptad pegol, by filing the first part of its NDA to the US FDA for a rolling review process. This drug holds promise for the treatment of geographic atrophy (GA) secondary to AMD.
In November 2022, The European Commission granted marketing authorization for Ximluci, the third biosimilar version of ranibizumab to be approved in the EU. This development is expected to increase treatment options and potentially reduce costs associated with AMD management.
Unveiling Market Dynamics
Early-stage AMD currently holds the second-largest market share due to the rising number of diagnosed patients at this stage. While there is no vision loss associated with early AMD, it is characterized by the presence of medium-sized drusen beneath the retina.
When it comes to age groups, the over-75 segment dominates the market and is expected to maintain its lead throughout the forecast period. This dominance can be attributed to the significantly higher prevalence of AMD in this age group. Additionally, adults over 60 are also susceptible to developing AMD due to age-related vision issues and chronic health conditions like diabetes and high cholesterol.
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North America Leads the Market
North America currently leads the dry age-related macular degeneration market, primarily due to a well-established healthcare infrastructure, rising government initiatives, and increasing patient awareness. Europe follows closely behind, driven by a similar aging population and growing patient pool. Furthermore, government support and advancements in therapeutic options are propelling market growth in this region.
The Association for Research in Vision and Ophthalmology (ARVO) conducted a study (2020-2028) that revealed dry AMD to have the highest disease burden (16.3%) compared to other retinal conditions. Additionally, rising government funding for AMD research and patient awareness initiatives are propelling market growth in this region.
Asia-Pacific region is witnessing the fastest growth due to a burgeoning patient pool, rising healthcare expenditure, and the entry of new market players. Additionally, the increasing prevalence of eye diseases and government efforts to improve healthcare infrastructure are creating a favorable environment for market growth.
Key Takeaways for Dry Age-Related Macular Degeneration Market Study
- Gain a thorough understanding of the market size, segmentation, growth factors, and challenges influencing the dry AMD market.
- Explore emerging trends, promising new technologies, and untapped markets to capitalize on growth opportunities.
- Utilize data-driven insights to guide your strategic decision-making regarding product development, market entry, and investment strategies.
- Gain valuable competitor intelligence to stay ahead of the curve and develop winning strategies in the dry AMD market.
- Anticipate future market behavior with our in-depth analysis and market projections to prepare for upcoming challenges and opportunities.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Dry Age-Related Macular Degeneration Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Dry Age-Related Macular Degeneration Market Segmentation, By Stages
- Early AMD
- Intermediate AMD
- Late AMD
Chapter 9 Dry Age-Related Macular Degeneration Market Segmentation, By End User
- Hospitals & Clinics
- Diagnostic Centers
- Academic Research Institutes
- Others
Chapter 10 Dry Age-Related Macular Degeneration Market Segmentation, By Age Group
- Above 40 Years
- Above 60 Years
- Above 75 Years
Chapter 11 Dry Age-Related Macular Degeneration Market Segmentation, By Diagnosis & Treatment
- Treatment
- Diagnosis
Chapter 12 Dry Age-Related Macular Degeneration Market Segmentation, By Route of Administration
- Oral
- Injectables
Chapter 13 Regional Analysis
Chapter 14 Company profile
Chapter 15 Competitive Landscape
Chapter 16 Use Case and Best Practices
Chapter 17 Conclusion
Continued…
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