FactMR today released its latest report on the Age-related Macular Degeneration Market, providing comprehensive insights into the global market’s robust growth driven by rising prevalence of eye disorders, an aging population, and advancements in treatment options. Valued at USD 11 billion in 2022, the market is projected to grow at a compound annual growth rate (CAGR) of 6.2%, reaching USD 20 billion by 2032. This expansion underscores the critical role of AMD therapies in addressing vision loss among the elderly.
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Market Outlook and Growth Projections
The global age-related macular degeneration market is poised for significant growth from 2022 to 2032, fueled by increasing cases of AMD, a leading cause of vision loss in individuals over 60, and the development of innovative therapies. AMD affects the macula, the central part of the retina responsible for sharp vision, and is categorized into dry and wet forms. The report projects the market to grow from USD 11 billion in 2022 to USD 20 billion by 2032, with a CAGR of 6.2%. This growth is driven by rising healthcare spending, a robust pipeline of AMD drugs, and increasing awareness of eye health, creating substantial opportunities for pharmaceutical companies and healthcare providers.
Key Drivers Fueling Market Demand
The market’s growth is propelled by several key drivers. The rising prevalence of AMD, with over 200 million cases globally in 2023 and projections to reach 288 million by 2040, is a primary factor, driven by an aging population expected to reach 2 billion over 60 by 2050. Technological advancements, such as anti-vascular endothelial growth factor (anti-VEGF) therapies like Eylea and Lucentis, have revolutionized wet AMD treatment, reducing vision loss in 90% of cases. The report highlights increasing government healthcare spending, such as Medicare’s coverage of 80% of anti-VEGF injection costs in the U.S., and growing R&D investments as key growth catalysts. Additionally, improved diagnostic tools like optical coherence tomography (OCT) and rising awareness through initiatives like National AMD Awareness Month further drive demand.
For more information, visit https://www.factmr.com/report/age-related-macular-degeneration-market
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