According to a new market research report published by Future Market Insights, the global neovascular age-related macular degeneration treatment market is projected to experience a robust growth rate of 5% CAGR from 2023 to 2033. Starting from a market value of US$ 3 billion in 2023, it is forecasted to attain a value of US$ 4.89 billion by the end of 2033.
Neovascular age-related macular degeneration represents a significant global health concern, primarily affecting individuals over the age of 50. As a leading cause of vision loss within this demographic, nAMD disrupts the macula — the central region of the retina responsible for precise, detailed vision. The condition manifests through the growth of abnormal blood vessels under the retina, which leak fluid and blood, subsequently damaging the macula and impairing visual function.
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North America and Europe are the largest markets for nAMD treatment, with the United States, Germany, and the United Kingdom being the major contributors. The strong healthcare infrastructure, increasing patient awareness, and availability of advanced treatment options are the key factors driving growth in these regions. However, the report notes that the Asia Pacific region is expected to experience significant growth in the coming years, driven by increasing prevalence of nAMD, expanding healthcare infrastructure, and introduction of new treatments.
Key Takeaways from the Market Study:
- From 2018 to 2022, the neovascular age-related macular degeneration treatment market grew at a CAGR of 3.5%.
- The global neovascular age-related macular degeneration treatment market is expected to grow with a 5% CAGR during 2023 to 2033.
- As of 2033, the Neovascular Age-related Macular Degeneration Treatment Market is expected to reach US$ 4.89 Billion.
- According to the FMI analysis, the Wet AMD segment accounts for the largest market share.
- North America is expected to possess 40% market share for the Neovascular Age-related Macular Degeneration Treatment market.
- The East & South Asia market is predicted to increase significantly throughout the forecast period, with a share of 20% during the forecast period.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering Neovascular Age-related Macular Degeneration Treatment.” says an FMI analyst
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Market Competition:
Key players in the market include companies such as Competition Deep Dive, Beckman Coulter Inc., Baxter International Inc., ChemoCentryx Inc., Dimerix Ltd, Medtronic PLC, Pfizer Inc., Mylan N.V., Amgen Inc., AstraZeneca plc along with healthcare providers and technology companies among other global players.
- Susvimo™ (ranibizumab injection) 100 mg/mL for intravitreal use via ocular implant was granted FDA approval on October 22, 2021. This approval is for the treatment of wet or neovascular age-related macular degeneration (AMD) in individuals who have previously responded to at least two anti-vascular endothelial growth factor (VEGF) injections. Wet AMD is a leading cause of blindness in people aged 60 and older and affects approximately 1.1 million people in the United States.
Key Segments Profiled in the Neovascular Age-related Macular Degeneration Treatment Industry Survey:
Drug Type:
- Ranibizumab
- Aflibercept
- Bevacizumab
- Brolucizumab
- Faricimab
Disease Type:
- Dry AMD
- Wet AMD
Age Group:
- Less than 60
- Between 60 to 80
- More than 80
Gender:
- Male
- Female
Stage of Disease:
- Early-stage AMD
- Intermediate AMD
- Late-stage AMD
Distribution Channel:
- Hospital Pharmacy
- Specialty Pharmacy
- Online Pharmacy
Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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