Age-Related Macular Degenerations Market Size and Share, Rising Trends, Demand, Growth Drivers, CAGR Status, Challenges, Future Opportunities and Forecast Analysis till 2033: SPER Market Research
Global Age-related Macular Degenerations Market is projected to be worth USD 26.34billion by 2033 and is anticipated to surge at a CAGR of 10.97%.
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Age-related macular degeneration (AMD) is a degenerative eye disease that mainly affects the elderly. It is characterized by the degeneration of the macula, the central area of the retina that offers sharp, detailed vision. AMD, which can cause blurred or distorted vision and, in its more advanced stages, significant visual loss, can affect routine skills like reading and facial recognition. Whereas dry AMD is typified by the slow thinning of the macula, wet AMD is characterized by the formation of abnormal blood vessels beneath the retina that can leak fluid and result in rapid vision loss.
According to SPER Market Research, ‘Global Age-related Macular Degenerations Market Size- By Product, By Molecules, By Type of AMD, By Approval Type, By End User - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that the Global Age-related Macular Degenerations Market is estimated to reach USD 26.34 billion by 2033 with a CAGR of 10.97%.
Drivers:
Monoclonal antibodies and recombinant fusion proteins are the primary medications being developed to treat AMD, and because they require frequent dosages, they are typically costly. A substantial percentage of patients discontinue therapy as a result of the high expense of care, which typically increases their treatment burden. Companies in the AMD medication industry are investigating novel pharmacological approaches, such as gene therapy, hydrogels, and inhibitor medications (oral dosage), to address patient non-adherence to treatment. For example, gene treatments are being developed to treat wet AMD by companies like as Adverum Biotechnologies, Inc. (US).
Additionally, AMD is predicted to become more common as the world's population ages, with a higher prevalence in Western countries. According to projections from the Globe Health Organization, there are approximately 1.1 billion tobacco users worldwide; if present trends continue, that figure is predicted to treble by 2050. Thus, it is thought that cigarette smoking has a major role in the global increase in the prevalence of AMD.
Restraints:
The global age-related macular degeneration (AMD) sector faces several significant obstacles. One of the primary issues is the disease's increasing prevalence due to an aging population, which puts a burden on healthcare systems and resources. Additionally, a lack of knowledge regarding AMD causes delayed diagnoses and less than optimum treatment outcomes. The industry is also impacted by a complex payment system and the high expense of innovative therapies, which may keep patients from getting necessary treatments. Additionally, the rapid pace of technological advancements in diagnostic tools and treatment options may make it challenging to maintain regulatory clearances and ensure safety and efficacy.
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The global market for age-related macular degeneration (AMD) is significantly impacted by the COVID-19 pandemic in a number of ways. Patients missed important consultations and follow-up care as a result of delays in routine eye exams and treatments brought on by interruptions in healthcare services. Because COVID-19 was frequently given priority over long-term illnesses like AMD, many persons had an increase in symptoms and a fall in detection rates. Patient treatment was made more difficult by supply chain disruptions that impacted the availability of necessary drugs and diagnostic equipment. Positively, the epidemic hastened the use of telemedicine services, enabling remote consultations for some patients.
Europe dominates the Global Age-related Macular Degenerations Market as the region has high adoption rate of advanced technology and due to the presence of key market players. Major players in the market are Amgen Inc., Bausch Health Companies Inc., Bayer AG, Biogen, F. Hoffmann-La Roche Ltd, Novartis AG, Pfizer Inc., Regeneron Pharmaceuticals Inc., Samsung Bioepis, Others.
Global Age-related Macular Degenerations Market Segmentation:
By Products: Based on the Products, Global Age-related Macular Degenerations Market is segmented as; Lucentis, Eylea & Eylea HD, Vabysmo, Sofovre, Others.
By Molecules: Based on the Molecules, Global Age-related Macular Degenerations Market is segmented as; Ranibizumab, Aflibercept, Faricimab, Pegcetoplan, Others.
By Type of AMD: Based on the Type of AMD, Global Age-related Macular Degenerations Market is segmented as; Wet AMD, Dry AMD.
By Approval Type: Based on the Approval Type, Global Age-related Macular Degenerations Market is segmented as; Biologic, Biosimilar.
By End User: Based on the End User, Global Age-related Macular Degenerations Market is segmented as; Hospitals, Specialty Centers, Long-Term Care Facilities.
By Region: This research also include data for North America, Europe, Asia-Pacific Middle East & Africa and South America.
For More Information, refer to below link: –
Age-related Macular Degeneration Market Forecast
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