NEW YORK, March 31, 2016 /PRNewswire/ --
According to market research report "Global Age-Related Macular Degeneration (AMD) Market Size, Share, Development, Growth and Demand Forecast to 2022 - Industry Insights by Type (Dry AMD, and Wet AMD), by Drug (Lucentis, Eylea, Visudyne, Avastin and Others)" published by P&S Market Research, the global age-related macular degeneration market was valued at $5,335.7 million in 2015, and it is expected to grow at a CAGR of 7.6% during 2016 - 2022.
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Among the various types, the wet AMD segment is expected to witness the faster growth compared to dry AMD segment, during the forecast period. The global age-related macular degeneration market is growing at a significant rate, due to increasing healthcare cost, and increasing prevalence lifestyle associated diseases, such as obesity and hypertension. In addition, the growing geriatric population, increasing prevalence of AMD and increasing pipeline drugs for AMD are also driving the growth of the global age-related macular degeneration market.
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Age-related macular degeneration (AMD) is an acquired retinal disorder indicated by fundus changes. It is one of the most common forms of visual impairment in the geriatric population. It is a deterioration or degeneration of macular, leading to vision loss among people aged 60 years and above. The macula is a small part of retina responsible for sharpness and central vision.
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Smoking, obesity, high blood pressure, high cholesterol, poor diet, ultra-violet radiation, hereditary, and light eye color are some of the risk factors associated with AMD. In early stages, macular degeneration may not have symptoms, although with the progress of the disease it may have symptoms such as deterioration in central vision or dark spot, and blurriness.
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Factors such as stringent regulatory requirements and increase in off label use are inhibiting the growth of the global market. The increasing awareness of AMD is the key trend observed in the global age-related macular degeneration market.
Geographically, North America dominated the global market of age-related macular degeneration in 2015; whereas, the Asia-Pacific market is expected to witness the fastest growth, during the forecast period.
Some of the key companies operating in the global age-related macular degeneration market include Novartis AG, F. Hoffmann-La Roche Ltd., Bayer AG, Regeneron Pharmaceutical, Inc., Acucela, Ophthotech Corporation, Neurotech Pharmaceuticals, Inc., GlaxoSmithKline plc, StemCells Inc and Alimera Sciences, Inc.
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