The global age-related molecular degeneration market is currently valued at USD 11.28 Million in 2023 and is anticipated to expand at a CAGR of 7%. Owing to the technological advances in healthcare the market is likely to propel to USD 22.19 Million by 2033.
The expansion and development of the healthcare sector and the rise in the prevalence of age-related molecular degeneration are likely to drive the growth of the age-related molecular degeneration market in the forecast period.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 11.28 Million |
| Projected Forecast Value (2033) | USD 22.19 Million |
| Global Growth Rate (2023 to 2033) | 7% CAGR |
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The age-related molecular degeneration market is expected to gain market growth in the forecast period of 2023 to 2033. Latest market analysis by FMI the market is to grow at a CAGR of 7% in the above-mentioned forecast period.
Older people are at greater risk of eye disorders, and hence, globally, the increasing aged population is further expected to generate traction for the age-related molecular degeneration market over the forecast period of 2023 to 2033. Moreover, manufacturers are generating awareness about eye health through age-specific advertisements and awareness drives.
AMD is characterized by progressive degeneration of the macula, the central part of the retina, leading to central vision loss. AMD can be classified as early, intermediate, or late based on its clinical features, including drusen, pigmentation abnormalities, atrophy of the retinal pigment epithelium (RPE), and exudative choroidal neovascularization (CNV).
Molecular degeneration has seen a substantial rise in incidence over the past years and this has led to an increase in eye treatment demand, and this trend is expected to be prevalent over the coming years as well. The global age-related molecular degeneration market rose at a CAGR of 6.4% from 2018 to 2022.
The rising Growth of the Older Age Population and The Increasing Number of AMD Patients Will Contribute to Market Growth
Age-related macular degeneration disease is happening to the increasing geriatric population, and the numerous cases of the condition are raising the demand for treatment.
The rising geriatric population is one of the major factors driving the age-related molecular degeneration industry potential. For instance, according to WHO by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion.
According to a research article published in 2020, around 170 million people are affected by AMD around the world. In the US, the prevalence of AMD cases is about 11 million. These data show that there is an immense need for medicines for the treatment of the condition, which eventually prompts the expansion of the age-related macular degeneration market size during the forecast period.
Increased Spending On Research & Development Drives the Age-Related Molecular Degeneration Market
Constant research & development are evident in the healthcare industry and this is common for eye disease and diagnosis as well. Wet AMD infections have been a major cause of concern as they account for a significant amount of total age-related molecular degeneration in the world.
The increasing number of individuals with retinal disorders is directly proportional to market growth. Thus, the increasing burden of such disorders is driving the demand for macular degeneration treatment which is further contributing to market growth.
Also, the increasing research and development (R&D) investments and rising approvals for new drugs are other major factors for the market growth.
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Lack of Awareness Regarding the Disorder May Hamper the Growth
Despite a positive growth trajectory, the global age-related molecular degeneration market is facing various challenges that are likely to pose a threat to its growth during the forecast period.
Some of these factors are a lack of awareness about molecular degeneration and poor availability of certain products across emerging economies. Also, the ignorance of the effects of infections and the lack of inclination towards taking proper treatments may hamper the market growth.
Booming Eyecare Products Market and Rising Investments in Research and Development Driving Growth in the USA Market
The USA is estimated to account for over 50.6% of the North American age-related molecular degeneration market in 2022. The growth of the market in the region is attributed to the increasing prevalence of AMD.
The rising prevalence of dry eye syndrome, and the presence of leading pharmaceutical manufacturers, are some of the factors driving demand in the USA market.
For instance, according to the Centre for Disease Control, the number of AMD cases in older Americans is projected to nearly double from 48 million to 88 million in 2050.
An increase in government initiatives, the number of research partnerships, and the presence of the key market players, coupled with recent product launches, are anticipated to boost the growth of the market in the North American region
For instance, in April 2019 - Novartis announced that the US Food and Drug Administration (FDA) accepted the company's Biologics License Application (BLA) for brolucizumab (RTH258) for the treatment of wet age-related macular degeneration (AMD), also known as neovascular AMD, or nAMD.
Increase in Significant Research and Development Investments in Healthcare to Boost the Market Growth
The Europe age-related molecular degeneration market is expected to rise at a CAGR of 6.7% from 2023 to 2033. Europe is the second-largest shareholder in the market, mainly due to the growing political support and favorable reimbursement regulations for medical services.
Increasing ophthalmological disorders in the region to boost the market growth in Europe. The large presence of pharmaceutical companies and growing aging populations are driving the demand in Germany.
For instance, in February 2020 - Novartis today announced the European Commission (EC) has approved Beovu® (brolucizumab) injection for the treatment of wet age-related macular degeneration (AMD). Beovu is the first EC-approved anti-VEGF treatment to demonstrate superior resolution of retinal fluid (IRF/SRF), a key marker of disease activity, versus aflibercept (secondary endpoints)1,5. Beovu also offers the ability to start eligible wet AMD patients on a three-month dosing interval immediately after the loading phase.
Rapid development in pharmaceuticals to drive the market growth in Asia Pacific
Asia Pacific is likely to dominate the age-related molecular degeneration market owing to the high geriatric population and increasing disease burden in economies such as India, China, and South Korea.
Asia-Pacific is expected to deliver impressive outcomes in the global age-related molecular degeneration market. A large amount of investment, significant government meddling in the healthcare sector, and significant development in the developing economy all contribute to supporting the affordability of costly anti-VEGF products and may contribute to the market growth
Advancements in healthcare infrastructure, rising government spending on healthcare policies, and the presence of important members in Asia Pacific all contribute to the growth of the global age-related molecular degeneration market.
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The wet AMD Segment remains dominant among other types
The wet AMD segment dominated the market in 2023 with a revenue share of 100%. AMD accounts for more than 10-15% of macular degeneration-related vision loss cases across the globe. Lucentis, Eylea, and Beovu are the major drugs approved for the treatment of wet age-related macular degeneration. Novartis’ Beovu, a long-acting anti-VEGF, was approved by the USA FDA in October 2019. However, the unfavorable side effects of this drug, such as retinal vasculitis, will limit its broader uptake.
Dry AMD is anticipated to witness the fastest growth over the forecast period owing to the expected launch of promising product candidates by 2023 and the disease burden of dry AMD. Dry AMD accounts for 85-90% of all macular degeneration cases. The management of dry macular degeneration is currently limited to vitamin formulations. Availability of various novel therapeutic options for its treatment currently in the clinical pipeline such as Luminate, Zimura, and Intravitreal pegcetacoplan. The approval of these potential candidates may fuel the growth of the dry AMD segment in the coming years.
Hospital Pharmacies dominated the market
The hospital pharmacy segment dominated the global market in 2023 with a revenue share of over 55.0%. The growth of the segment is attributed to the increasing prevalence of age-related macular degeneration (AMD) and hospitalization for treatment.
According to the Royal National Institute of Blind People (RNIB), around 25.3 million people were at high risk of developing age-related macular degeneration (AMD) in 2020. The majority of patients are treated by using various medications such as Lucentis, Eylea, and Beovu, which are administrated intravenously under the supervision of experienced physicians in hospitals. This growing demand for AMD treatment is anticipated to increase hospital visits, thereby driving the market.
How do New Entrants Contribute to the Age-Related Molecular Degeneration Market?
With technological innovations happening at a rapid pace, and companies looking for ways to increase customer engagement, start-ups are taking all possible steps to establish a name for themselves in the age-related molecular degeneration market.
Some of the start-ups in the age-related molecular degeneration market include-
F. Hoffmann-La Roche Ltd., Novartis AG, Bayer AG, Pfizer Inc., Bausch Health Companies Inc., Regeneron Pharmaceuticals Inc., Amgen Inc., Biogen, Samsung Bioepis, Ophthotech Corporation are some of the key players in the age-related molecular degeneration industry.
The manufacturers are involved in the production of age-related molecular degeneration in a larger capacity. Research and innovation are also conducted to launch innovative products for age-related molecular degeneration.
Also, some of the key players are acquiring small pharmaceutical companies to increase their production capacity. Suppliers are focusing on expanding their market presence across the world by initiating new product launches and boosting sales. Approval for new medications and treatments for eye infections is also expected to be a major trend over the coming years.
In November 2021 - Bayer filed applications for a new therapeutic indication for aflibercept (solution for injection) in premature babies with treatment-requiring retinopathy of prematurity (ROP) in the EU and Japan.
In September 2021 - Samsung Bioepis Co., Ltd. and Biogen Inc. announced that the USA Food and Drug Administration (FDA) has approved BYOOVIZ™ (ranibizumab-nuna), a biosimilar referencing LUCENTIS® (ranibizumab) I for the treatment of neovascular (wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), and myopic choroidal neovascularization (mCNV).
In September 2022 - Regeneron Pharmaceuticals, Inc. announced that the PHOTON trial in DME and the PULSAR trial in wAMD both demonstrated that aflibercept 8 mg 12- and 16-week dosing regimens achieved non-inferiority in vision gains compared to the EYLEA 8-week dosing regimen. In these trials, the safety of aflibercept 8 mg was consistent with the established safety profile of EYLEA. Regeneron and Bayer will submit these data to regulatory authorities in countries around the world.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR from 2023 to 2033 |
| Expected Market Value (2023) | USD 11.28 Million |
| ProjectedForecast Value (2033) | USD 22.19 Million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million & CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive L&scape, Growth Factors, Trends & Pricing Analysis |
| Segments Covered | Product Type, Disease Type, Distribution Channel, Regions |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa (MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, India, Malaysia, Singapore, Thailand, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | F. Hoffmann-La Roche Ltd.; Novartis AG; Bayer AG; Pfizer Inc.; Bausch Health Companies Inc.; Regeneron Pharmaceuticals Inc.; Amgen Inc.; Biogen; Samsung Bioepis; Ophthotech Corporation |
| Customization | Available Upon Request |
The global age-related molecular degeneration market is likely to reach a valuation of USD 11.28 Million by the end of 2023.
F. Hoffmann-La Roche Ltd., Novartis AG, Bayer AG, Pfizer Inc., Bausch Health Companies Inc., Regeneron Pharmaceuticals Inc. are some of the key players in the global age related molecular degeneration market
Sales of the age-related molecular degeneration market are likely to expand at 7% CAGR through 2033.
The USA, Canada, Japan, China, & Germany are expected to drive most of the demand for the age-related molecular degeneration market.
By the end of 2033, the global market for age-related molecular degeneration market is predicted to reach a valuation of USD 22.19Million
1. Executive Summary | Age-Related Molecular Degeneration Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Eylea 5.2. Lucentis 5.3. Beovu 5.4. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Disease Type 6.1. Dry AMD 6.2. Wet AMD 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospital Pharmacy 7.2. Specialty Pharmacy 7.3. Online Pharmacy 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. South Asia & Pacific 8.5. East Asia 8.6. Middle East and Africa (MEA) 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia & Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. F. Hoffmann-La Roche Ltd. 17.2. Novartis AG 17.3. Bayer AG 17.4. Pfizer Inc. 17.5. Bausch Health Companies Inc. 17.6. Regeneron Pharmaceuticals Inc. 17.7. Amgen Inc. 17.8. Biogen 17.9. Samsung Bioepis 17.10. Ophthotech Corporation 18. Assumptions & Acronyms Used 19. Research Methodology
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Age Related Molecular Degeneration Market
