Age-related Macular Degeneration (AMD) size is expected to reach USD 14.43 billion by 2030

The global Age-related Macular Degeneration (AMD) market size is expected to reach USD 14.43 billion by 2030 according to a new study by Polaris Market Research.

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The AMD industry is boosted by an increase in the frequency of eye-related diseases and an increase in the number of refractive eye surgeries for eye disorders. As per the WHO, in 2019, around 2.2 billion people from across the globe have been suffering from one or the other kind of visual impairment, and out of this, 123.7 million people have uncorrected refractive errors.

The different type of refractive errors includes nearsightedness (myopia), farsightedness (hyperopia), astigmatism, and presbyopia. Glasses, contact lenses, and laser eye surgery are the commonly available treatment for the correction of refractive errors. Due to the discomfort offered by wearing glasses and contact lenses, more and more people are inclined towards the adoption of refractive eye surgery to correct their refractive errors.

Furthermore, as per the American Refractive Surgery Council, in 2017, more than 29 million LASIK procedures were performed in the US. As per the American Association of Ophthalmology, in the US, 70% to 80% of people with refractive error opt for LASIK eye surgery, and 20% to 30% opt for PRK surgery. Intravitreal wearables segment accounted for the leading share in the market. The intravitreal segment is growing in popularity because tailored drug administration makes it more effective. In addition, the various anti-VEGF injections are given intravitreal or intraocularly. Anti-Vascular Endothelial Growth Factor medications are used to treat wet AMD (anti-VEGF).

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Lucentis (ranibizumab) and Eylea (aflibercept) are two FDA-approved medications that are commonly prescribed for AMD. Avastin (bevacizumab), an off-label medication, is also widely utilized. Wet AMD is also treated with photodynamic therapy (PDT), which reduces the progression of vision impairment.

Industry players such as F. Hoffmann La Roche, Alimera Sciences Inc., ALLERGAN, Regeneron Pharmaceuticals, Bausch & Lomb Incorporated, Bayer AG, GlaxoSmithKline PLC, Novartis AG, Acucela Inc., Ophthotech Corporation, Pfizer Inc, Rxi Pharmaceuticals Inc., Santen Pharmaceuticals Co., and Valeant Pharmaceuticals International, Inc. are some key players operating in the industry. In January 2021, Novartis started phase III trials of its candidate "brolucizumab" for the cure of AMD to assess its tolerability and effectiveness.

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Polaris Market Research has segmented the Age-related Macular Degeneration (AMD) Market report based on product, drugs, route of administration, distribution channel, and region:

Age-related Macular Degeneration (AMD), Product Outlook (Revenue - USD Billion, 2018 - 2030)

• Wet AMD
• Dry AMD

Age-related Macular Degeneration (AMD), Drugs Outlook (Revenue - USD Billion, 2018 - 2030)

• Lucentis
• Eylea
• Avastin
• Others

Age-related Macular Degeneration (AMD), Route of Administration Outlook (Revenue - USD Billion, 2018 - 2030)

• Intravenous
• Intravitreal

Age-related Macular Degeneration (AMD), Distribution Channel Outlook (Revenue - USD Billion, 2018 - 2030)

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.

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This release was published on openPR.