Age-related macular degeneration (AMD), also known as macular degeneration is a condition, which results in loss of central vision caused due to the thinning of the macula of the retina. Age-related macular degeneration typically occurs in geriatric population and can cause permanent vision loss in people of age 60 and above.
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Age-related macular degeneration is of two types such as dry age-related macular degeneration (Dry AMD) and wet age-related macular degeneration (wet AMD). Dry age-related macular degeneration is the common form of macular degeneration, where the macula gets thinner with increasing age leading to the loss of central vision. There is no treatment available for dry age-related macular degeneration. Wet age-related macular degeneration is the less common type, where growth of abnormal blood vessels is observed under the retina. Wet age-related macular degeneration can be managed through anti-vascular endothelial growth factor (anti-VEGF) injections.
Global Age-related Macular Degeneration Therapeutics Market – Dynamics
Rising geriatric population is expected to drive the age-related macular degeneration therapeutics market over the forecast period. For instance, according to the World Population Prospects in 2017, global population aged over 60 years was 962 million, which is expected to reach around 2.1 billion by 2050. Globally, population aged 60 or over is increasing at a faster pace compared to all younger age groups. This group of population is highly susceptible to different types of age-related diseases such as diabetes, renal insufficiency, arthritis, and macular degeneration. The risk of getting affected by advanced age-related macular degeneration for people of age group of 50-59 is 2%, whereas it is around 30%, who are over the age of 75.
Moreover, increasing prevalence of age-related macular degeneration is expected to propel the market growth over the forecast period. For instance, according to the BrightFocus Foundation, January 2019, macular degeneration is a leading cause of blindness in the U.S. population aged above 60 years and around 11 million people in the U.S. suffered from macular degeneration, which is expected to double to nearly 22 million by 2050.
Global Age-related Macular Degeneration Therapeutics Market – Regional Insights
North America accounted for the largest market share in 2018, owing to product approvals and launches of new age-related macular degeneration therapeutics products in the region. For instance, in October 2019, Novartis received the U.S. Food and Drug Administration (FDA) approval for Beovu (brolucizumab) injection for the treatment of wet age-related macular degeneration (AMD). Moreover, in August 2018, Regeneron Pharmaceuticals, Inc., received the U.S. Food and Drug Administration (FDA) approval for supplement Biologics License Application (sBLA) for EYLEA injection for the treatment of wet age-related macular degeneration (wet AMD).
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Moreover, various mergers, agreements, and acquisitions by the market players are expected to drive the market growth over the forecast period. For instance, in September 2019, Boehringer Ingelheim entered into a co-development and license agreement with Inflammasome Therapeutics Inc., to develop three therapies for patients suffering from with retinal diseases such as age-related macular degeneration (AMD), diabetic retinopathy (DR), and diabetic macular edema (DME). The agreement is expected to strengthen retinal disease pipeline portfolio of Boehringer Ingelheim.
Global Age-related Macular Degeneration Therapeutics Market – Competitive landscape
Key players operating in the global age-related macular degeneration therapeutics market include Novartis International AG, Bayer AG, Regeneron Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd. Pfizer Inc., Amgen Inc., and Bausch Health Companies Inc.
Global Age-related Macular Degeneration Therapeutics Market – Taxonomy
On the basis of drug type, the global age-related macular degeneration therapeutics market is segmented into:
• Ranibizumab
• Aflibercept
• Bevacizumab
• Pegaptanib
• Brolucizumab
• Others
On the basis of type, the global age-related macular degeneration therapeutics market is segmented into:
• Dry AMD
• Wet AMD
On the basis of distribution channel, the global age-related macular degeneration therapeutics market is segmented into:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
On the basis of region, the global age-related macular degeneration therapeutics market is segmented into:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East
• Africa
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