Age-Related Macular Degeneration Drug Market Analysis | 2023-2028

Market Insights

The age-related macular degeneration drug market was estimated at USD 11.66 billion in 2022 and is likely to grow at a CAGR of 7.19% during 2023-2028 to reach USD 17.79 billion in 2028.

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Market Dynamics

Introduction

Age-related macular degeneration (AMD) is a progressive eye disease that affects the macula, the central part of the retina responsible for sharp central vision. While there is currently no cure for AMD, there are several drugs available for its treatment.

One of the commonly used drugs for treating AMD is called anti-vascular endothelial growth factor (anti-VEGF) medication. These drugs work by inhibiting the growth of abnormal blood vessels in the retina, which are characteristic of the wet form of AMD. By blocking the action of VEGF, a protein that promotes the growth of new blood vessels, these medications help slow down the progression of the disease and prevent further vision loss.

COVID-19 Impact 

The covid-19 outbreak impacted the growth of the age-related macular degeneration drug market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions. In addition to this, patients postponed their appointments due to fear of infection and thus, affected the market growth.

Market Drivers

The growth of the age-related macular degeneration drug market is primarily driven by rising incidences of eye-related health issues, particularly among adults.

• The growing aging populace is another factor fuelling product demand.
• The increasing prevalence of chronic diseases such as obesity and high blood pressure can result in macular degeneration and thus, is likely to augment the market growth.
• In addition to this, increasing demand for advanced age-related macular degeneration drugs is likely to create lucrative opportunities for the players operating in the global age-related macular degeneration drug market in the coming years.

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Key Players

The following are the key players in the age-related macular degeneration drug market: 

• Allergan, Inc. (Ireland).
• Alimera Sciences Inc. (The U.S),
• Bayer AG (Germany),
• Bausch Health Companies Inc. (Canada),
• F. Hoffmann-La Roche AG (Switzerland),
• GlaxoSmithKline PLC (UK),
• Kubota Pharmaceutical (The U.S),
• Novartis International AG (Switzerland),
• Ophthotech Corporation (The U.S),
• Pfizer Inc. (The U.S),
• Regeneron Pharmaceuticals, Inc. (The U.S),
• Rxi Pharmaceuticals, Inc. (The U.S),
• Santen Pharmaceuticals Co. (Japan), 

Note: The above list does not necessarily include all the top players in the market.

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Segment Analysis

By End-User Type

"Hospital & clinics segment accounted for the largest market with a share of more than 45% in 2022"

• The age-related macular degeneration drug market has been bifurcated into hospitals & clinics, diagnostic centres, and academic research institutes.
• The hospital & clinics segment accounted for the largest market with a share of more than 45% in 2022 and is projected to register significant growth during the review period.
• The segment growth can be attributed to the presence of established infrastructure and skilled professional healthcare providers.

Regional Analysis

"North America accounted for the largest market with a share of more than 50% in 2022"

• The market in North America accounted for the largest market with a share of more than 50% in 2022 and is projected to grow at a significant CAGR during the assessment period.
• The regional growth can be attributed to expanding geriatric populace and the presence of key market players such as Regeneron Pharmaceuticals, Inc. (The U.S), and Pfizer Inc. (The U.S).
• The market in Asia-Pacific is expected to be driven by significant growth in the healthcare industry.

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Research Methodology

• This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s age-related macular degeneration drug market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The age-related macular degeneration drug market is segmented into the following categories:

By Type 

• Lucentis
• Eylea
• Avastin
• Others

By Route of Administration Type

• Intravenous
• Intravitreal

 By End-User Type

• Hospitals & Clinics
• Diagnostic Centers
• Academic Research Institutes

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.