Age-Related Macular Degeneration Market is projected to reach US$ 14.06 Billion in 2028

Renub Research has recently published a report named "Age-Related Macular Degeneration Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," providing a detailed industry analysis that consists of market share insights. Furthermore, the report encompasses a study of competitors and regions and the recent growth in the Age-Related Macular Degeneration Market.

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Between 2022 and 2028, the age-related macular degeneration market will surge at a CAGR of 8.5%.Usually about the age of sixty, an eye condition begins to develop that can slowly deteriorate the macula, the centre portion of the retina, worsening the eye's central vision. Rare cases of blindness are brought on by age-related macular degeneration (AMD), which damages the center of the eye. Since it controls how the eye perceives vision, the macula is regarded as a crucial part of the retina. Macular health is determined by a person's capacity to read, identify, and distinguish items that call for exquisite visual detail.

Theprevalence of eye conditions is rising, which is fueling demand for macular degeneration treatments and boosting market expansion.For instance, age-related macular degeneration (AMD) is the primary cause of vision loss and blindness in Europe, according to a study that was published in the British Journal of Ophthalmology. Age-related macular degeneration (AMD) affects over 67 million people in Europe, and because of population aging, this figure is anticipated to rise by 15% until 2050. According to statistics, market expansion is strongly correlated with the rising number of people suffering from retinal problems.

Moreover, expanding clinical trials and R&D are two other key drivers of market expansion. For instance, in November 2022, 4D Molecular Therapeutics, Inc., a clinical-stage biotherapeutics business that uses the power of directed evolution for genetically targeted medications, released interim clinical information from cohort 1 of the Phase I/II medical test of intravitreal 4D-150 for wet AMD. The results centered on the 4D-150 genetic medicine's 4D-150 clinical effectiveness against VEGF, as well as the safety, tolerability, aflibercept transgene expression, and Cohort 1 patient safety.

A rise in Dry AMD Pipeline Drugs will support the market's expansion.

The market for Dry Age-related Macular Degeneration (AMD) is expanding as a result of the development of cutting-edge medical procedures such intravitreal pegcetacoplan, Luminate, and Zimura. A growing number of clinical trials focusing on dry AMD, an aging population, and the prevalence of age-related macular degeneration are all contributing to this growth. Furthermore, rising healthcare costs are anticipated to be advantageous for the market.

Considering that Beovu is protected by a patent, it will expand at the fastest pace during the forecast period.

The use of Beovu (brolucizumab-dbll), an anti-vascular endothelial growth factor (anti-VEGF) drug, for the treatment of wet age-related macular degeneration (AMD), is expected to increase quickly. Beovu has proven higher performance in clinical studies, offering it a competitive advantage over Eylea and Lucentis. This could increase demand by enticing patients with wet AMD to choose it. Beovu is a relatively new medicine, thus it still has a sizable amount of untapped market potential, which will contribute to its predicted rapid expansion.

The Age-Related Macular Degeneration Market's dominant distribution channel is hospitals.

As the primary providers of eye care services, hospitals have the equipment and knowledge needed to treat AMD effectively. Close patient monitoring is beneficial for managing any adverse effects during therapy. Because hospitals can bill insurance companies for AMD therapies, patients can access and afford them more easily.

North America leads the industry for age-related macular degeneration.

The aging population and age-related macular degeneration, the presence of prominent market competitors, and increased research and development efforts are some of the factors driving market expansion in North America. According to a study published in Nature Medicine, SARS-CoV-2-infected AMD patients had a higher risk of serious consequences, underscoring the significance of raising awareness among patients and eye care professionals. Due to AMD, the main cause of permanent blindness worldwide, the market is expected to grow. Wet AMD is a leading cause of vision loss in adults over 65, and the Canadian Ophthalmological Society predicts a rise in diagnoses by 2032.

The presence of the major market players, together with new product launches, as well as advantageous government initiatives, a rise in the number of research collaborations, and these factors are all expected to support the market's expansion in the North American area.

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Competitive Landscape.

Currently, F. Hoffmann-La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health businesses, and Alimera Sciences Inc. are some of the well-known businesses in the age-related macular degeneration market.

Market Summary:

• Type- The Report covers Age-related Macular Degeneration (AMD) Market, bytypein2 viewpoints (Wet AMD, and Dry AMD).
• Product- By Product, the Age-related Macular Degeneration (AMD) Market, breakup in 4 viewpoints (Eylea, Lucentis, Beovu, and Others).
• Distribution Channel-Renub Research report covers by distribution channel in 3 viewpoints (Hospital Pharmacy, Specialty Pharmacy, and Online Pharmacy).
• Region- The Age-related Macular Degeneration (AMD) Market by region breakup in 5 viewpoints (North America, Europe, Asia-Pacific, Latin America, and Middle-East and Africa).
• Key Players- All the major players have been covered from 3 Viewpoints (Overview, Recent Developments, and Revenue) F. Hoffman - La Roche Ltd., Bayer AG, Abbvie, GSK Plc., Novartis AG, Regeneron Pharmaceuticals, Bausch Health Companies, and Alimera Sciences Inc.

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