Age-related Macular Degeneration Market Size Is Anticipated To Reach USD 17.99 Billion By 2030

 San Francisco, 10 Aug 2023: The Report Age-related Macular Degeneration Market Size, Share & Trends Analysis Report By Product (Eylea, Lucentis, Beovu), By Disease Type (Wet AMD, Dry AMD), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2030

The global age-related macular degeneration market size is expected to reach USD 17.99 billion by 2030, according to a new study by Grand View Research Inc. It is expected to expand at a CAGR of 6.9% from 2022 to 2030. The growth is due to high R&D investments for new product development, product launches, rising age-related macular degeneration (AMD) prevalence, and the rising geriatric population.

Among wet (exudative) and dry (atrophic) age-related macular degeneration, dry AMD is a more prevalent eye disease with 85-90% of cases causing vision damage due to excessive drusen development in the retina. National Eye Institute statistics suggest that the prevalence of advanced age-related macular degeneration in the U.S. was approximately 3 million in 2020.

There are no approved drugs available yet to treat dry age-related macular degeneration. This creates an opportunity for market players to address the unmet medical needs of dry AMD patients. However, for wet AMD, anti-VEGF drugs are used to treat and control the further deterioration of the condition.

Patients tend to discontinue their treatment without completion owing to frequent clinic visits and administration of drugs at shorter intervals. The key players are engaged in the research & development of longer acting anti-VEGF products to address the increased demand for such products. In February 2020, Novartis AG received approval for its product, Beovu, a macular degeneration drug from the European Commission for the treatment of patients with age-related macular generation. It is a long-acting drug to be administered at an interval of 12 weeks for the first year.

In addition, F. Hoffmann-La Roche Ltd.’s drug candidate, Vabysmo (faricimab), with an injection administration period of 4 weeks during loading dose; received U.S. FDA approval in January 2022 for the treatment of age-related macular degeneration. Furthermore, in October 2021, Roche’s Susvimo received FDA approval and is expected to enter the U.S. in 2022. It is a refillable implant specific for LUCENTIS administration, with a refillable duration of six months. All these factors are expected to propel the market growth over the forecast period.

The patent expiry year for EYLEA is 2023 in the U.S. and 2025 in Europe, depending upon several patent categories. Lucentis (F. Hoffmann La Roche Ltd.) lost its patent in June 2020 in the U.S. and will lose patent protection in 2022 in Europe. As a result, biosimilar manufacturing companies are leveraging the opportunity to penetrate the AMD market. For instance, in October 2021, Formycon AG and Bioeq AG received the U.S. FDA acceptance of BLA for the company’s biosimilar version of Lucentis. The PDUFA date for the review of the application is scheduled for August 2022. All these factors could hamper the market growth over the forecast period.

Access Research Report of Age-related Macular Degeneration Market @ https://www.grandviewresearch.com/industry-analysis/age-related-macular-degeneration-market-report

Age-related Macular Degeneration Market Report Highlights

• By product, eylea accounted for the largest revenue share in 2021 owing to the higher market penetration and patent protection. Beovu is anticipated to be the fastest-growing segment over the forecast period due to patent protection and superior drying efficacy
• By disease type, wet AMD held the largest share in 2021 owing to the availability of major anti-VEGF products including Eylea, Lucentis, and Beovu
• North America held the largest market share in 2021 and is expected to dominate over the forecast period due to better reimbursement facilities and the high adoption of novel age-related macular degeneration drugs for the treatment
• Based on distribution channel, specialty pharmacy is expected to be the fastest-growing segment during the forecast period owing to increasing collaboration of manufacturers with specialty pharmacies for distributing their products

Age-related Macular Degeneration Market Report Scope 

Report Attribute	Details
Market size value in 2022	USD 10.52 billion
Revenue forecast in 2030	USD 17.99 billion
Growth Rate	CAGR of 6.9% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

List of Key Players of Age-related Macular Degeneration Market

• Hoffmann-La Roche Ltd.
• Novartis AG
• Bayer AG
• Pfizer Inc.
• Bausch Health Companies Inc.
• Regeneron Pharmaceuticals Inc.
• Amgen Inc.
• Biogen
• Samsung Bioepis

Access Press Release of Age-related Macular Degeneration Market @ https://www.grandviewresearch.com/press-release/global-age-related-macular-degeneration-market