LONDON–(BUSINESS WIRE)–#Biotechnology–The global age-related macular degeneration (AMD) therapeutics market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the high prevalence of AMD. Our market experts have identified that globally, the prevalence of AMD is very high, owing to the presence of high-risk factors for developing the condition. Risk factors such as aging, smoking, high cholesterol, and high blood pressure are the major contributors to the development of AMD. Moreover, despite the high prevalence of AMD, no approved therapies are available in the market for the treatment of the condition. Thus, the high prevalence coupled with the huge unmet medical need of dry AMD is expected to drive the market growth during the forecast period.
As per Technavio, the development of gene therapy for AMD will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global age-related macular degeneration (AMD) therapeutics market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global age-related macular degeneration (AMD) therapeutics market: Development of gene therapy for AMD
At present, only a few drugs are approved for the treatment of AMD. However, the side effects associated with them are very severe, and the majority of them act against VEGF only. Hence, there is a huge unmet need for safe and novel drugs to treat AMD. The currently available anti-VEGF therapies require repetitive and inconvenient intraocular injections. Owing to factors such as inconvenience and discomfort associated with frequent injections in the eye, patient compliance is a significant concern with anti-VEGF therapies. Hence, several companies are working on novel drugs against AMD, among which gene therapy is expected to cure the disease effectively. Hence, the development of gene therapy is expected to be a positive trend for the global AMD therapeutics market.
“Apart from the development of gene therapy for AMD, the strong pipeline and expected approvals, the rising geriatric population, and the growing awareness about AMD are some major aspects that are expected to drive market growth during the forecast period,” says a senior analyst at Technavio.
Global age-related macular degeneration (AMD) therapeutics market: Segmentation analysis
This market research report segments the global age-related macular degeneration (AMD) therapeutics market by type (wet AMD and dry AMD) and geographical regions (North America, Europe, Asia, ROW).
The North American region led the market in 2018, followed by Europe, Asia, ROW. However, during the forecast period, the European and the Asian region are to register the highest incremental growth due to the growing aging population in both regions.
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Market Landscape
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- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
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Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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