The expiry of drug patents for widely accepted branded drugs have opened new avenues of growth opportunities for the market participants. Investments are prognosticated to flow towards the development in the formulas of existing drugs for enhanced efficiency. In addition, expired drug patents have paved the way for a reduction in price points, thus, augmenting the global age related macular degeneration market.
As per the study offered by Market Research Future (MRFR), the global age related macular degeneration market is set to expand at a CAGR of 8.3% during the forecast period 2018 to 2023. The valuation of the market is predicted to grow from USD 1.37 Bn at the end of 2017 to 2.21 Bn by 2023-end. The growing patient pool of a geriatric population is leading the expansion of the market. It is estimated that AMD contributes significantly towards visual loss among the elderly population. In addition, the global aging population is expected to get doubled by the end of 2020. It is presumed to aid the proliferation of the age related macular degeneration market over the assessment period.
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The market is lucrative at present, and the rising awareness about the diseases is further expected to boost the growth trajectory of the age related macular degeneration market in the foreseeable future. On the flip side, unfavorable reimbursement policies and the high cost of drugs remain impediments to the market growth.
Some of the key players profiled in this MRFR report are Regeneron Pharmaceutical Inc., Rxi Pharmaceuticals, F.Hoffmann-La Roche AG, Santen Pharmaceuticals and Bayer AG, Pfizer Inc., Allergan, Novartis AG, Bausch & Lomb Incorporated, and Alimera Sciences.
By type, the global age related macular degeneration market has been segmented into wet AMD and dry AMD.
By stages, the age related macular degeneration market has been segmented into intermediate AMD, early AMD, and late AMD.
By age group, the global age related macular degeneration market has been segmented into above 75, above 60, and above 40.
By diagnosis & treatment, the age related macular degeneration market has been segmented into treatment and diagnosis.
By route of administration, the global age related macular degeneration market is segmented into intravitreal, intravenous, and others.
By end-user, the age related macular degeneration market has been segmented into hospitals & clinics, diagnostic centers, academic research institutes, and others.
The age related macular degeneration market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is projected to hold a dominant share of the global market through the forecast period. The rising burden of the disease in the region is expected to drive the proliferation of the regional market. According to the Centers for Disease Control and Prevention (CDC), 1.8 million people were suffering from the disease in 2015 in the U.S.
Europe is an important growth pocket placed at the second position in the marketplace. It is predicted to benefit from rising geriatric population and increasing healthcare expenditure. Meanwhile, Asia Pacific is likely to emerge as the fastest growing regional market for AMD over the assessment period. The factors that are responsible for favoring the expansion of the age-related macular degeneration market in the region are rising healthcare expenditure, increasing prevalence of eye-disorders, growing geriatric population, etc.
In November 2018, the European Court of Justice has determined that Avastin by Roche can be reimbursed for the treatment of age-related macular degeneration despite the challenge imposed by Bayer and Novartis.
In December 2018, the U.S. based Ophthotech Corp. has scrapped the clinical trials of C5 inhibitor for the treatment of wet age-related macular degeneration in spite of successful phase 2a results exhibiting tolerance for imura (avacincaptad pegol) in combination with ranibizumab (Lucentis).
In December 2018, a team of British scientists has announced that they are piloting an eye drop aimed at treating age-related macular degeneration (AMD). The researchers have concluded successful trials on rabbits and pigs and will be tried on human eyes in 2019.
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