The market for medications and treatments for Age-related Macular Degeneration , a progressive eye condition that affects the macula, the central portion of the retina, and may result in vision loss, is referred to as the age-related macular degeneration (AMD) market. AMD is most frequently observed in people over 50, and its prevalence is anticipated to rise as the population ages. The rising prevalence of eye disorders, particularly in the aging population, is what is driving the market. In developed nations, AMD is the main reason for blindness in people over 50. The prevalence of AMD is anticipated to rise as the world’s population ages, driving up demand for AMD treatments.
Growth in the market has also been fueled by improvements in treatment options, such as the introduction of anti-VEGF therapies. Anti-VEGF medications are used to prevent the development of new blood vessels that could harm the macula, and research has shown that they are successful in halting the progression of AMD. The market for anti-VEGF medications is challenged by high treatment costs and the requirement for ongoing care for patients with wet AMD, among other issues. Additionally, there is a requirement for greater understanding of the condition and the significance of early detection and treatment.
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Key Takeaways from Market Study
- The global prevalence of AMD is expected to increase due to the aging population, which will drive the demand for AMD treatments.
- Advancements in treatment options, such as anti-VEGF therapies, have fueled market growth, and the market is expected to continue to grow with the introduction of new and innovative treatments.
- The AMD market is segmented by type, drug class, and region, with wet AMD being the more severe form of the disease.
- Major players in the market include Novartis AG, Regeneron Pharmaceuticals, Inc., Bayer AG, F. Hoffmann-La Roche AG, and others.
- The high cost of treatment, particularly for anti-VEGF drugs, is a challenge in the AMD market.
- Increased awareness of the disease and the importance of early detection and treatment are needed to improve patient outcomes.
- The market is expected to see robust growth in the coming years, with a focus on developing innovative therapies that can slow or stop the progression of AMD and improve the quality of life for patients
Age-related Macular Degeneration Market- Competitive Landscape
The rapidly rising demand for age-related macular degeneration in a variety of applications is being tapped into by prominent players in the industry. Players are relying on partnerships, acquisitions, and collaborations with current small, medium, and large-scale vendors to expand their reach. The following are some noteworthy market developments:
- A German biotech start-up named Targenomix will be acquired by Bayer in November 2022, the company announced today. Utilizing cutting-edge systems biology and computational life science technologies, the Max Planck Institute for Molecular Plant Physiology (MPI MPP) spin-off discovers novel mechanisms of action for crop protection chemicals. In order to fulfill Bayer’s commitment to the design of safe and effective molecules and to speed up the discovery and development of molecules that have the potential to increase agricultural production’s sustainability in the face of dynamic challenges like climate change and rising weed, disease, and insect resistance, Targenomix’s expertise, personnel, and platforms will be crucial.
Prominent Service Players
- F. Hoffmann-La Roche Ltd.
- Novartis AG
- Bayer AG
- Pfizer Inc.
- Bausch Health Companies Inc.
- Regeneron Pharmaceuticals Inc.
- Amgen Inc.