The global age-related macular degeneration market is projected to be worth USD 18,500 million by 2030, growing at a CAGR of 6.8%. This development can be ascribed to the growing occurrence of age-related eye illnesses, the rising elderly populace, and the growing expenditure on research and development activities.
Furthermore, the industry is boosted by the rising frequency of this condition, the launch of innovative treatments, a strong product pipeline, and progresses in gene treatments.
Because of its extensive industry penetration and patent protection, the Eylea category dominated the industry, with a market share of over 50%, in recent years. The FDA approved Eylea, an intravitreal injection of aflibercept, in 2011. It is created to halt VEGF from working in wet AMD. Patients with wet AMD, diabetic macular edema, and macular edema are treated with it.
In recent years, the wet AMD category held the highest revenue share. This disorder is managed with intravitreal injections (IVT), with approximately 22.3 million procedures implemented throughout the globe in the past few years.
In the past few years, North America has dominated the age-related macular degeneration market with a revenue share of more than 51.1%, and the continent is also estimated to remain in the dominating position in the future as well.
Some of the major reasons boosting the regional industry include the increasing load of the elderly populace, the growing occurrence of this illness, the existence of key industry players, and the growing research and development activities in the continent.
Hence, the growing occurrence of age-related eye illnesses, the rising elderly populace, and the growing expenditure on research and development activities are the major factors contributing to the growth of the age-related macular degeneration market.
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