According to a new market research report published by Future Market insights, the global neovascular age-related macular degeneration treatment industry size is expected to grow at a CAGR of 5% from 2023 to 2033, The global neovascular age-related macular degeneration treatment market is expected to garner a market value of US$ 3 billion in 2023, and reaching a market size of US$ 4.89 billion by 2033.
The global neovascular age-related macular degeneration treatment market grew significantly from 2018 to 2022, with a continued upward trajectory in demand from 2023 to 2033. The neovascular age-related macular degeneration (nAMD) treatment market is experiencing significant growth globally. nAMD is a leading cause of vision loss among people over the age of 50. It is a chronic, progressive disease that affects the macula, the central part of the retina that is responsible for sharp, clear vision. The disease occurs when abnormal blood vessels grow underneath the retina and leak fluid and blood, causing damage to the macula.
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North America and Europe are the largest markets for nAMD treatment, with the United States, Germany, and the United Kingdom being the major contributors. The strong healthcare infrastructure, increasing patient awareness, and availability of advanced treatment options are the key factors driving growth in these regions. However, the report notes that the Asia Pacific region is expected to experience significant growth in the coming years, driven by increasing prevalence of nAMD, expanding healthcare infrastructure, and introduction of new treatments.
Key Takeaways from the Market Study:
- From 2018 to 2022, the neovascular age-related macular degeneration treatment market grew at a CAGR of 3.5%.
- The global neovascular age-related macular degeneration treatment market is expected to grow with a 5% CAGR during 2023 to 2033.
- As of 2033, the Neovascular Age-related Macular Degeneration Treatment Market is expected to reach US$ 4.89 Billion.
- According to the FMI analysis, the Wet AMD segment accounts for the largest market share.
- North America is expected to possess 40% market share for the Neovascular Age-related Macular Degeneration Treatment market.
- The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Neovascular Age-related Macular Degeneration Treatment.” says an FMI analyst
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Market Competition:
Key players in the market include companies such as Competition Deep Dive, Beckman Coulter Inc., Baxter International Inc., ChemoCentryx Inc., Dimerix Ltd, Medtronic PLC, Pfizer Inc., Mylan N.V., Amgen Inc., AstraZeneca plc along with healthcare providers and technology companies among other global players.
- Susvimo™ (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant was granted FDA approval on October 22, 2021. This approval is for the treatment of wet or neovascular age-related macular degeneration (AMD) in individuals who have previously responded to at least two anti-vascular endothelial growth factor (VEGF) injections. Wet AMD is a leading cause of blindness in people aged 60 and older and affects approximately 1.1 million people in the United States.
Key Segments Profiled in the Neovascular Age-related Macular Degeneration Treatment Industry Survey:
Drug Type:
- Ranibizumab
- Aflibercept
- Bevacizumab
- Brolucizumab
- Faricimab
Disease Type:
- Dry AMD
- Wet AMD
Age Group:
- Less than 60
- Between 60 to 80
- More than 80
Gender:
- Male
- Female
Stage of Disease:
- Early-stage AMD
- Intermediate AMD
- Late-stage AMD
Distribution Channel:
- Hospital Pharmacy
- Specialty Pharmacy
- Online Pharmacy
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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