Report Overview

The global age-related macular degeneration market size stood at around USD 8.5 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

Growing geriatric population and increasing prevalence of age-related macular degeneration, several branded drugs going off-patent are expected to enhance market growth. However, factors such as high cost associated with AMD, stringent FDA regulations may restrain the market growth during the forecast period.



Market Drivers

Increasing government expenditure on healthcare to reduce healthcare burden on patients is one of the key growth drivers for the age-related macular degeneration market. Globally, healthcare burden has increased substantially and become a major concern for patients and healthcare providers. Expensive nature of advanced treatment methods and increasing physician fees are some of the factors leading to high healthcare costs. In view of this, governments of various countries have increased their overall expenditure on healthcare to facilitate accessibility to affordable treatment options. This, in turn, is supporting the market growth across the world.

Moreover, the extensive pipeline of AMD drugs is a key factor driving the age-related macular degeneration market. Although there are limited treatment options for AMD at present, key players in the industry are focused on developing drugs for this indication to meet the growing unmet medical needs of the patients suffering from the disease.

Type of Macular Degeneration

AMD is of two types; dry and wet AMD. Dry AMD is caused by the formation of deposits called under the retina; and, wet AMD is caused by abnormal growth of the blood vessels beneath the macula. Wet AMD accounts for larger share in the market owing to rising prevalence of this compared to dry AMD among the geriatric population. This segment also has a growth rate of 7% and is growing faster than the dry AMD segment.