Age-Related Macular Degeneration Market with a Projected $15.4 Billion Global Valuation by 2032
Age Related Macular Degeneration (AMD) Market Research, 2032
PORTLAND, OREGON, UNITED STATES, November 20, 2023 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Age-related macular degeneration Market by Product Type,( Aflibercept, Ranibizumab and Others) Disease Type (Dry AMD and Wet AMD). Distribution Channels (Hospital Pharmacy, Specialty Pharmacy and Online Pharmacy): Global Opportunity Analysis and Industry Forecast, 2022-2032". According to the report, the global organic feminine care industry generated $9.4 billion in 2022 and is estimated to reach $15.4 billion by 2032, exhibiting a CAGR of 5.0% from 2023 to 2032.
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In the dynamic landscape of healthcare, the age-related macular degeneration (AMD) market is witnessing a paradigm shift driven by prime determinants that intricately shape its growth trajectory. Among these determinants, the burgeoning population of elderly individuals emerges as a pivotal factor, significantly influencing the prevalence of AMD. This article delves into the multifaceted aspects that propel the growth of the AMD market, while also addressing potential challenges that may loom on the horizon.
The Aging Demographic: A Driving Force for AMD Market Growth
As the global population ages, the prevalence of age-related macular degeneration experiences a concurrent surge. Aging is intricately linked to an elevated risk of developing AMD, making the expanding elderly demographic a cornerstone for market expansion. The increasing pool of elderly individuals not only amplifies the demand for AMD treatments but also transforms this demographic into a substantial customer base, thereby propelling market growth.
Market Dynamics and Obstacles:
While the aging demographic acts as a catalyst for growth, the AMD market is not without its challenges. A notable concern lies in the anticipated escalation of costs associated with AMD medications. The high financial burden may pose a hindrance to accessibility for a significant portion of the population, potentially impeding market growth. Addressing this challenge requires strategic approaches and collaborative efforts within the healthcare ecosystem to ensure affordability without compromising on treatment efficacy.
A Glimpse into the Future: Promising Prospects Amid Challenges
Amidst the challenges, a ray of optimism emanates from the burgeoning pipeline of drugs dedicated to AMD treatment. The landscape is dotted with numerous promising candidates, heralding a new era of therapeutic options. These pipeline drugs present a silver lining for the AMD market, offering hope for enhanced treatment modalities and potentially mitigating the impact of cost-related obstacles.
Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a negative impact on the global age-related macular degeneration (AMD) market, owing to the temporary closure of eye clinics and eye hospitals during the lockdown.
The closure of eye clinics and eye hospitals reduced access to routine eye care and treatment.
The pandemic also had an impact on the development and approval of new treatments for age-related macular degeneration (AMD). Clinical trials and research studies were disrupted, and regulatory agencies were prioritizing COVID-19-related drugs and vaccines over other treatments.
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North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than half of the global age-related macular degeneration (AMD) market revenue, which is attributed to the surge in the geriatric population that are vulnerable to age -elated macular degeneration (AMD), presence of key players, and availability of high-quality healthcare system & modern medical technologies. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.6% from 2023 to 2032. This is owing to the presence of large patient population, growth in awareness for age-related macular degeneration (AMD) drugs, and an increase in public–private investments for unmet medical needs.
Leading Market Players: -
Regeneron Pharmaceuticals Inc.
Novartis Ag
F. Hoffmann-La Roche Ltd.
Biogen
Bayer Ag
Coherus Biosciences Inc
Sanofi
Apellis Pharmaceuticals
Bausch Health Companies Inc.
Ionis Pharmaceuticals, Inc.
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Allied Analytics LLP
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