The global neovascular age-related macular degeneration (nAMD) treatment market is poised for steady growth, projected to expand from a valuation of USD 3 billion in 2023 to USD 4.89 billion by 2033. This growth represents a compound annual growth rate (CAGR) of 5% over the forecast period, up from a historical CAGR of 3.5% between 2018 and 2022.
nAMD, a leading cause of severe vision loss in older adults, continues to drive demand for effective treatments. The increasing prevalence of age-related macular degeneration due to an aging global population is a key factor propelling market growth. Advances in biologics and targeted therapies, including anti-vascular endothelial growth factor (anti-VEGF) agents, are significantly improving patient outcomes and fueling market expansion.
Moreover, ongoing research and development activities are introducing innovative treatments, such as sustained-release delivery systems and gene therapies, which promise enhanced efficacy and reduced treatment burden for patients. However, challenges such as high treatment costs and limited accessibility in certain regions may restrain growth in the market.
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Key Takeaways:
- The nAMD treatment market is expected to grow at a 5% CAGR, reaching $4.89 billion by 2033.
- Rising prevalence of age-related macular degeneration among the aging population drives demand.
- Advancements in anti-VEGF therapies and innovative drug delivery systems enhance patient outcomes.
- High treatment costs and regional accessibility issues remain potential market challenges.
Historical Growth
- The market for nAMD treatment recorded a CAGR of 3.5% from 2018 to 2022, indicating steady growth prior to the current forecast period.
Market Drivers
- Increasing Prevalence of nAMD: The rising incidence of neovascular age-related macular degeneration, particularly among the aging population, is driving demand for effective treatment options.
- Advancements in Treatment Options: The development of anti-VEGF (vascular endothelial growth factor) therapies has significantly improved treatment outcomes for patients with nAMD.
- Growing Awareness and Screening Programs: Increased awareness about eye health and the importance of early diagnosis are leading to more patients seeking treatment.
- Investment in Research and Development: Pharmaceutical companies are heavily investing in R&D to develop new therapies and improve existing treatments for nAMD.
What are the key drivers behind the growth of the neovascular age-related macular degeneration treatment market
The growth of the neovascular age-related macular degeneration (nAMD) treatment market is driven by several key factors:
- Increasing Prevalence of nAMD: The rising incidence of neovascular age-related macular degeneration, particularly among the aging population, significantly boosts demand for effective treatment options. As more individuals are diagnosed with this condition, the need for therapeutic interventions grows.
- Advancements in Treatment Options: The development and availability of anti-VEGF (vascular endothelial growth factor) therapies have transformed the treatment landscape for nAMD. These medications, which are administered via injections, effectively inhibit the growth of abnormal blood vessels in the retina, improving patient outcomes.
- Growing Awareness and Early Diagnosis: There is an increasing awareness about eye health and the importance of early diagnosis of nAMD. Enhanced screening programs and educational initiatives are leading to more patients seeking treatment sooner, which helps in managing the disease effectively.
- Investment in Research and Development: Pharmaceutical companies are heavily investing in R&D to develop new therapies and improve existing treatment options for nAMD. This includes exploring innovative approaches such as gene therapy and sustained-release drug delivery systems that could enhance treatment efficacy and reduce the frequency of injections.
- Strategic Collaborations and Partnerships: Collaborations between pharmaceutical companies, research institutions, and healthcare providers are fostering innovation and expanding the market. These partnerships often lead to the development of new products and improved access to existing treatments.
Market Competition
Key players in the market include companies such as Competition Deep Dive, Competition Deep Dive, Bausch & Lomb Incorporate, Novartis AG, Pfizer Inc., ALLERGAN, Acucela Inc., Santen Pharmaceuticals Co., Ophthotech Corporation, Alimera Sciences Inc.GlaxoSmithKline PLC, Regeneron Pharmaceutical Inc., Bayer AG, Rxi Pharmaceuticals Inc. 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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Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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