Seattle, WA -- (SBWIRE) -- 11/14/2019 -- Age-Related Macular Degeneration Market – Insights

Age-related Macular Degeneration (AMD) is an acquired retinal disorder and causes the deterioration of macula. It is one of the major causes of visual impairment in geriatric population. Obesity, smoking, high cholesterol, UV radiation, high blood pressure, genetic factors, poor diet, and light eye color are some of the factors that may lead to AMD. The condition may not show any symptoms in early stage. However, once the disease progresses, symptoms such as dark spot or degeneration in central vision and blurred vision are evident. There is no available cure for AMD. However, symptoms of the disease are treatable.

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Age-Related Macular Degeneration Market: Drivers

Technological development in the healthcare sector and diagnostic facilities is boosting growth of the age–related macular degeneration market. Moreover, increasing incidence of AMD is a major factor boosting growth of the global age-related macular degeneration market. For instance, according to World Health Organization (WHO), AMD is ranked third in the global cause of visual impairment with 8.7% blindness prevalence. According to Community Eye Health Journal, by London School of Hygiene and Tropical Medicine, in 2014, around 196 million people are expected to suffer from AMD by 2020, globally.

Age-Related Macular Degeneration Market: Restraints

High cost of the treatment, growing use of off –label drugs, and stringent regulatory policies are expected to hinder growth of the global age-related macular degeneration market. For instance, single injection of anti-vascular endothelial growth factor (anti VEGF) agent for the treatment of AMD such as ranibizumab cost about US$ 2000. Increasing geriatric population and growing awareness regarding AMD is expected to offer lucrative growth opportunities for the market players.

Age-Related Macular Degeneration Market: Segment Analysis

Increasing incidence of dry AMD is expected to boost growth of the dry age-related macular degeneration segment.
The global age-related macular degeneration market is segmented by type and by drug.
On the basis of type, the age-related macular degeneration market is segmented into
- Dry age-related macular degeneration
- Wet age-related macular degeneration
On the basis of drug, the age-related macular degeneration market is segmented into
- Eylea
- Visudyne
- Lucentis
- Avastin
- Others

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Age-Related Macular Degeneration Market: Regional Analysis

Increasing geriatric population is expected to boost growth of the market in North America. Moreover, North America is expected to hold dominant position in the global age-related macular degeneration market. According to the United Nation's 'World Population Ageing 2013' report, around 70,571,000 people were of 60 years and above in North America in 2013, accounting for 19.9% of total population of the region. Moreover, increasing incidence of AMD, growing awareness regarding the disease, and high rate of drug treatment is also contributing to growth of the market in North America. Increasing geriatric population, resulting in high prevalence of AMD is expected to boost growth of the age-related macular degeneration market in Asia Pacific.

Age-Related Macular Degeneration Market: Competitive Landscape

Key players operating the global age-related macular degeneration market include, Hoffmann-La Roche Limited, Ophthotech Co., Novartis AG, Bayer AG, StemCell Inc., Regeneron Pharmaceutical Inc., Acucela, Neurotech Pharmaceuticals Inc., GlaxoSmithKline Plc., and Alimera sciences Inc.

Key players in the market are focused on gaining fast track drug designation to their therapies in order to expand their product portfolio. For instance, the U.S. Food and Drug Administration granted fast track designation to Fovista, a product of Ophthotech. The product is expected to be launched in 2018.

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