Dry Age-Related Macular Degeneration Market Size
Dry Age-Related Macular Degeneration Market size was USD 7.5 billion in 2021 and projected to grow from USD 8.8 billion in 2023 to USD 18.8 billion by 2032, exhibiting a CAGR of 8.7% during the forecast period.
Dry age-related macular degeneration is among the very common eye illness especially in individuals aged over 50. Owing to the breakdown of the internal layers of macula, it leads to hazy or diminished central vision. Dry macular degeneration could begin in one eye and progress to the other before appearing in both eyes simultaneously. When eyesight deteriorates with time, the ability to read, drive, and identify people may be impacted.
Market Highlights
Dry Age-Related Macular Degeneration Market is expected to project a CAGR of 8.7% during the forecast period, 2022-2032
Dry Age-Related Macular Degeneration Market is expected to reach USD 18.8 billion, growing at a CAGR of 8.7% during the forecast period owing to the growing senior population and rising cases of the Age-Related Macular Degeneration. The development of new treatments for dry AMD and an increase in the number of clinical trials specifically targeting dry AMD are a few other major factors driving the market growth.
Dry Age-Related Macular Degeneration Market Segmentation
Late AMD segment is expected to dominate in the forecast period
Dry Age-Related Macular Degeneration Market is classified based on the Stages into Early AMD, Intermediate AMD, and Late AMD. The Early AMD category held a major share in 2021. As the number of AMD patients grows at this phase, Late AMD takes lead over Early AMD. Early-stage AMD causes no visual loss and can be identified by the appearance of mid-sized drusen below the retina. Drusen are amorphous debris deposits that occur near the foundation membrane of the retinal pigment epithelium.
Hospitals & Clinics segment is expected to dominate in the forecast period
Dry Age-Related Macular Degeneration Market is classified based on the End User into Hospitals & Clinics, Diagnostic Centers, Academic Research Institutes, and Others. The Hospitals & Clinics registered a major portion in 2021. As more individuals are being checked for eye illnesses, this share is mostly ascribed to hospitals having modern and comprehensive treatments. As a result, patients opt to get treatment there. Clinics are medical facilities that cure AMD patients.
Market Dynamics
Growth Drivers
Growing Geriatric Population and Rising Cases of AMD are Expected to Boost the Market Growth
The growing older populace and rising cases of AMD, and the development of new dry AMD treatment procedures and an increasing number of clinical trials focusing on dry AMD, are driving global dry AMD market expansion. Other reasons like rising healthcare expenditures, are projected to fuel market expansion.
Increasing Expenditure by Governments is Expected to Boost the Market Growth
Government spending on healthcare and regulations associated with healthcare facilities, vital pharmaceuticals distribution, and the availability of disposable resources supports the increasing number of people in need of available treatments. Furthermore, various investments by producers, new products, and venture capitalists in the global intracranial hemorrhage detection and treatment market are expected to drive market growth in addition to government healthcare spending.
Restraint
Multiple Unsuccessful Trials and Stringent Regulations Associated with Dry AMD to Restrain the Market Growth
Several AMD drugs have been unsuccessful to meet the accuracy criteria of the FDA. Such failed clinical trials and stringent rules for dry age-related macular degeneration treatments could hinder industry expansion in the near future.
Recent Developments
- Santen, Japan, launched Ophthalmic Solution 3% (DIQUAS® LX), a therapy for dry eyes, in November 2022. Improved formulation reduces administration (application) rate to 3 times day to reduce patient burden.
- The FDA granted Zimura (avacincaptad pegol), an inhibitor of complement C5, Fast Track designation in the progress of treatments for (GA) geographic atrophy owing to dry age-related macular degeneration (AMD) in March 2020.
Dry Age-Related Macular Degeneration Market
Key Players Covered:
- Roche
- Bausch Health
- Allergan plc
- Santen Pharmaceuticals Inc.
- Ocumension Therapeutics Co. Ltd
- Apellis Pharmaceuticals
- Gyroscope Therapeutics
- Iveric Bio
- CellCure Neurosciences
- Stealth Biotherapeutics Corp.
- Eyestem Research Pvt Ltd
- Belite Bio Inc.
- Kubota Vision Inc.
- Evergreen Therapeutics
- Alkeus Pharmaceuticals
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
Regional Analysis
Dry Age-Related Macular Degeneration Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the global market, owing to the increasing patient number suffering from the disease. The expanding population of diabetics raises the patients number suffering from ophthalmologic problems. The Asia-Pacific region is the fastest-growing segment for age-related macular degeneration, with numerous new firms emerging at a rapid pace.
Impact of Covid-19 on Dry Age-Related Macular Degeneration Market
The COVID-19 epidemic has had a significant influence on the Dry Age-Related Macular Degeneration Market, as patients are unable to visit ophthalmologists, resulting in a reduction in overall patient visits. Furthermore, owing to the intimate physical nature of the operation, eye specialists are at risk. Delays in analysis could also have a deleterious impact on patients, such as the progression of dry AMD to advanced wet AMD. However, experts encourage persons with dry age-related macular degeneration to continue home supervising and to live a healthy lifestyle.
Dry Age-Related Macular Degeneration Market is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Dry Age-Related Macular Degeneration Market Scope and Segments:
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2022-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 8.7% from 2022-2032 |
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Unit |
Value (USD Billion) |
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Segmentation |
Main Segments List |
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Stages |
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Age Group |
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Diagnosis and Treatment |
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Route of Administration |
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End User |
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By Region |
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Frequently Asked Questions (FAQ):
Dry Age-Related Macular Degeneration Market size was estimated at USD 7.5 billion in 2021 and is expected to reach USD 18.8 billion in 2032.
Dry age-related macular degeneration is among the very common eye illness especially in individuals aged over 50. Owing to the breakdown of the internal layers of the macula, it leads to hazy or diminished central vision.
Late AMD and Hospitals & Clinics segments accounted for the largest Dry Age-Related Macular Degeneration Market share.
Key players: Roche, Bausch Health, Allergan plc, Santen Pharmaceuticals Inc., Ocumension Therapeutics Co. Ltd, Apellis Pharmaceuticals, Gyroscope Therapeutics, Iveric Bio, CellCure Neurosciences, Stealth Biotherapeutics Corp., Eyestem Research Pvt Ltd, Belite Bio Inc., Kubota Vision Inc., Evergreen Therapeutics, Alkeus Pharmaceuticals, and Other Prominent Players are the key players in the Dry Age-Related Macular Degeneration Market.
Growing geriatric population and increasing cases of Dry-AMD worldwide are the factors driving the Dry Age-Related Macular Degeneration Market.
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