Wet Age-Related Macular Degeneration Market Provides Information on the Historical and Current Market Size and the Future Potential of the Market

The global wet age-related macular degeneration (AMD) market, estimated at $6.9 billion in 2018, is projected to reach $10.4 billion by 2024, registering a CAGR of 7.1% during the forecast period. The market is predominantly driven by the increase in prevalence of AMD, lack of availability of specific treatment, and surge in geriatric population, according to P&S Intelligence.

Lucentis, Eylea, and Avastin are the key drugs available globally for the management of wet AMD. Among these, Eylea is expected to dominate the market during the forecast period. Increasing prevalence of AMD and rise in demand for Eylea are some of the major factors propelling the demand for this drug in the wet age-related macular degeneration market.

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APAC accounts for more than one-third of the macular generation cases reported globally, which is expected to further increase in the coming years. According to the United Nations projections, around 24% of Asians will be aged 60 years or older by 2050. Since the elderly are at a higher risk of developing AMD, the demand for the required medication for the treatment of the disease is expected to considerably increase in the region in the coming years.

Also, since the treatment of wet AMD is quite expensive, government in countries, such as South Korea and Malaysia, have introduced health insurance plans that cover some of the treatment cost to reduce the healthcare burden on people. For instance, under South Korea’s universal government health insurance plan, patients suffering from wet AMD can receive up to 10 injections of ranibizumab during their lifetime. Thus, government initiatives in the form of medical reimbursements are supporting the growth of the wet age-related macular degeneration market in the APAC region.

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Globally, the wet age-related macular degeneration market is witnessing rapid evolution with a substantial increase in the number of clinical trials conducted for wet AMD drugs. For instance, in February 2019, Outlook Therapeutics Inc. initiated a clinical study to examine the efficacy and safety of ONS-5010 in subjects with wet AMD. The aim of the study is to prevent vision loss by evaluating the effectiveness of ONS-5010 as compared to ranibizumab’s.

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Additionally, in February 2019, Ocular Therapeutix Inc. administered the first dose of OTX-TKI (tyrosine kinase inhibitor implant) to the first patient in the phase I trial to evaluate the efficacy of the drug in patients with wet AMD. The phase I trial is a multi-center, open-label study to test the safety, durability, and tolerability of OTX-TKI.

The global wet age-related macular degeneration market is marked by the presence of several large players, such as Regeneron Pharmaceuticals Inc., Neurotech Pharmaceuticals Inc., Ophthotech Corporation, Kubota Pharmaceutical Holdings Co. Ltd., Gilead Sciences Inc., Novartis AG, Alimera Sciences Inc., and Bayer AG.

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