Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "Age-Related Macular Degeneration Market Forecast Report by Disease Type Product Distribution Channel Countries and Company Analysis, 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Global Age-Related Macular Degeneration market is forecasted to reach US$ 19.53 billion by 2032 from US$ 10.68 billion in 2023, at a compound annual growth rate (CAGR) of 6.94% from 2024 to 2032.
Frequent and notable improvements in the management of patients with AMD have led to changes in the patient's prognosis. Currently, the invention of Anti-VEGF agents in the likes of ranibizumab and aflibercept has enhanced wet AMD administration via controlling growth of new blood vessels. Such therapies assist with the stabilization of vision and even vision improvement in some cases while ultimately boosting the patients' quality of life. New drug delivery forms as well as the combo therapies also promote research to continue to fuel the market.
Increasing incidence of AMD is primarily attributed to the growing aging population pool especially in the developed regions such as Europe and North America. Age is another risk factor for AMD; this eye condition is more common in persons older than 50 years of age. This demographic trend escalates the need to deliver diagnostic tools, treatments, and support care to optimally treat and manage vision loss due to AMD. As per the current patients' demographic trends, it is noticed that the healthcare systems are changing for addressing the requirements of such patients contributing to a market growth with enhanced diagnosis ratios and treatment strategies.
Technological Innovations in Diagnostic Tools
New technologies in ocular imaging including, OCT and FAF facilitate early diagnosis of AMD. It is important since it can be detected early enough and hence early treatment and control hence a better outcome for the patients. The integration of these hi-tech imaging techniques into the healthcare systems accurately diagnose clients and further facilitate the delivery of individualized care, thus driving the market.
Increasing Awareness and Healthcare Infrastructure
Raising public awareness about potential symptoms, causes, and current treatment options of the AMD is vital to initiate preventive measures. Moreover, related investing in healthcare infrastructure, especially in the areas where the demographic shift affects the augmentation in the AMD affected population, enhances AMD access. Improvement of healthcare leads to timely health check-ups, better health awareness, appropriate patient management, and lower incidences of vision loss thus contributes to the growth of the market.
Europe Age-Related Macular Degeneration Market
The European age-related Macular Degeneration (AMD) Market to experience steady growth due to the following factors. Since elder people are more probable to be affected by AMD, the market is more developed in countries like Germany, the UK, and Italy. Development in healthcare facilities along with growing awareness level of patients in case of eye diseases provide additional support to the market need of diagnostics and therapies. Medical advancements, especially in a new therapy that targets wet AMD, are major influencers, as they provide ways to easily treat and save a patient's eyesight. This is fostered by government policies that encourage development of researches focused on appropriate treatments for ophthalmic ailments. Given the rising incidence of AMD owing to population ageing and other factors, the market for treating AMD is expected to grow in Europe; this therefore provides opportunities for biopharmaceutical firms to fulfill the needs of patients in this market.
Age-Related Macular Degeneration News
In March 2024, Sumitomo Corporation and Roche Pharma India signed a commercial alliance agreement for Vabysmo (faricimab), a new medicine used to treat diabetic macular edema (DME) and neovascular or wet age-related macular degeneration (nAMD). This marks Roche Pharma India's first entry into the ophthalmology market. Vabysmo is claimed to be a dual pathway inhibitor, targeting two disease processes associated with retinal disorders that can impair vision.
In August 2024, Astellas' IZERVAYTM was approved by the FDA to treat geographic atrophy (G.A.) secondary to AMD. In Phase III studies, IZERVAY demonstrated a statistically significant reduction in the rate of G.A. progression compared to other approved therapies.
Mode of Transportation - Market breakup in 4 viewpoints:
- Refrigerated Road Transport
- Refrigerated Sea Transport
- Refrigerated Rail Transport
- Refrigerated Air Transport
Technology - Market breakup in 4 viewpoints:
- Vapor Compression Systems
- Air-Blown Evaporators
- Eutectic Devices
- Cryogenic Systems
Temperature - Market breakup in 2 viewpoints:
- Single Temperature
- Multi-Temperature
Application - Market breakup in 3 viewpoints:
- Chilled Food Products
- Frozen Food Products
- Others
Country - Market breakup in 25 viewpoints:
- North America
- United States
- Canada
- Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- The Netherlands
- Turkey
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Malaysia
- Indonesia
- New Zealand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
Company Analysis
- F. Hoffmann La Roche Ltd.
- Bayer AG
- AbbVie
- GSK PLC
- Novartis AG
- Regeneron Pharmaceuticals
- Bausch Health Companies Inc.
- Alimera Sciences Inc.
All key players have been covered from 4 viewpoints:
- Overview
- Recent Development & Strategies
- Product Portfolio
- Financial Insights
Key Attributes
| Report Attribute | Details |
| No. of Pages | 190 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $10.68 Billion |
| Forecasted Market Value (USD) by 2032 | $19.53 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/qjegm2
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