Increased awareness of Age-related Macular Degeneration (AMD) among both healthcare professionals and the general public has led to more frequent screenings and earlier detections. Public health campaigns and educational initiatives are motivating individuals to pursue preventive care, subsequently driving up the demand for AMD treatments. The World Health Organization (WHO) reported that in 2020, AMD accounted for 8.7% of global blindness, impacting around 196 million individuals. Such figures highlight the critical need for heightened awareness and early detection in alleviating the global AMD burden.
Government-led programs and healthcare initiatives focused on enhancing eye health and broadening access to ophthalmic care are bolstering the AMD market. Financial backing for research and awareness initiatives not only aids in crafting new therapies but also champions the importance of routine eye check-ups. This trend underscores public health entities' dedication to tackling AMD-related challenges and pushing for advanced treatment avenues.
Pharmaceutical firms and healthcare entities are rolling out patient assistance and support programs, significantly enhancing treatment accessibility. These initiatives guide patients through insurance and financial hurdles, ensuring they stick to their prescribed therapies. By mitigating financial obstacles, these support systems are pivotal in guaranteeing that those with AMD receive and continue their essential treatments, thereby potentially lessening the broader impact of vision-related disabilities in adults.
Authors:
Mariam Faizullabhoy, Gauri Wani
Frequently Asked Questions (FAQ) :
The global age-related macular degeneration industry was valued at around USD 10.4 billion in 2023 and is estimated to grow at a 9.8% CAGR from 2024 to 2032, driven by the increasing prevalence of AMD among the aging population.
Eylea led the market in 2023, generating substantial revenue of USD 4.4 billion due to its established trust among healthcare providers and patients since its FDA approval in 2011.
The U.S. age-related macular degeneration market was valued at USD 4.2 billion in 2023 and is projected to grow at a CAGR of 9.9% over the forecast period, fueled by the rising population aged 65 and older.
Key players in the market include Adverum Biotechnologies, Alkeus Pharmaceuticals, Amgen, Astellas Pharma, Bausch Health Companies, Bayer AG, Biogen, Coherus BioSciences, F. Hoffmann-La Roche, and Kodiak Sciences.